alt Hacker NewsWhen my spouse worked in the area of determining "the value of an individual" (economically, not morally), it was computed as present value lifetime earnings: the cumulative income of the individual, converted back to its current value (using some sort of inflation model). IIRC, the PVLE averaged out to about $1-10M.
You shouldn't be down voted. Regardless of the moral or technical issues involved, there are established formulas used to calculate damages in wrongful death civil suits. Your range is generally correct although certain factors can push it higher. (Punitive damages are a separate issue.)