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Started By
Message
Why is your life worth more if someone else hurts you?
Posted on 2/28/22 at 11:20 am
Posted on 2/28/22 at 11:20 am
I recently bought home and life insurance.
I insured my home for the purchase price plus 20% to factor in appreciation over the next few years.
I insured my life for what I felt my family would need to not be financially burdened by my death in the event of an accident or health issue.
I thought about it, and placed a value on my life.
If I die due to my own health issues or an accident of my fault my family gets X.
If I die due to a criminal thug, still my family gets X.(no blood from a turnip)
If I die because a business or government entity accidentally does something…why does my family deserve 10-20 times the value I placed on my own life?
Isn’t that a form of bias, unfairness in the system?
Why is the value of someone’s life dependent upon your ability to pay. Seems counter to the current movement of equality and fairness.
I insured my home for the purchase price plus 20% to factor in appreciation over the next few years.
I insured my life for what I felt my family would need to not be financially burdened by my death in the event of an accident or health issue.
I thought about it, and placed a value on my life.
If I die due to my own health issues or an accident of my fault my family gets X.
If I die due to a criminal thug, still my family gets X.(no blood from a turnip)
If I die because a business or government entity accidentally does something…why does my family deserve 10-20 times the value I placed on my own life?
Isn’t that a form of bias, unfairness in the system?
Why is the value of someone’s life dependent upon your ability to pay. Seems counter to the current movement of equality and fairness.
16
Posted on 2/28/22 at 11:21 am to Kujo
Insurance is a scam, breaking news at 10
Posted on 2/28/22 at 11:22 am to Kujo
Because the payout isn't the value of your life.
Posted on 2/28/22 at 11:22 am to Kujo
Insurance is confusing as frick
This post was edited on 2/28/22 at 11:25 am
Posted on 2/28/22 at 11:24 am to Kujo
Life insurance isn't the value of your life. You already answered your question:
Life insurance is about love. You want the ones you love to live the life they've become accustomed to, and not have to financially struggle if you're out the picture.
quote:
I insured my life for what I felt my family would need to not be financially burdened by my death in the event of an accident or health issue
Life insurance is about love. You want the ones you love to live the life they've become accustomed to, and not have to financially struggle if you're out the picture.
Posted on 2/28/22 at 11:24 am to Kujo
quote:
If I die because a business or government entity accidentally does something…why does my family deserve 10-20 times the value I placed on my own life?
I'm sure they'll happily give you less if that's what you're asking for.
Posted on 2/28/22 at 11:25 am to Kujo
The payout is a form of punishment in addition to compensation.
Posted on 2/28/22 at 11:25 am to Kujo
quote:
If I die because a business or government entity accidentally does something…why does my family deserve 10-20 times the value I placed on my own life?
Because the vast majority of that “payout” are penalties. The purpose isn’t for your family to get a windfall. The purpose it to disincentivize business/individuals from behaving that way in the future. Your family getting a windfall is just a side benefit.
Posted on 2/28/22 at 11:29 am to Hogwarts
quote:
Insurance is a scam
Insurance is a calculation of risk and a finely honed gamble
Posted on 2/28/22 at 11:30 am to Kujo
Are you equating your life insurance face value to the sums paid out in wrongful death cases?
Posted on 2/28/22 at 11:32 am to Hogwarts
Insurance can be good or bad depending on your expectations of it.
Just make sure you read the fine print and understand it well.
Just make sure you read the fine print and understand it well.
Posted on 2/28/22 at 11:33 am to Kujo
You aren’t valuing your life your paying for an insurance policy you can afford.
If you could afford a 10-20x bigger policy would you get it?
quote:
Why is the value of someone’s life dependent upon your ability to pay. Seems counter to the current movement of equality and fairness.
If you could afford a 10-20x bigger policy would you get it?
Posted on 2/28/22 at 11:34 am to Kujo
quote:
If I die because a business or government entity accidentally does something…why does my family deserve 10-20 times the value I placed on my own life?
Let me introduce you to the term "punitive damages".
Posted on 2/28/22 at 11:34 am to Kujo
You are confusing value with ability to pay. In a court your life is worth the same regardless of whether you are killed by a criminal thug or a business. The business has the funds to pay. The thug does not. Therefore, lawyers sue the business but not the thug.
Also, in a wrongful death case the award is not just the value of your life, it is also for the pain your loved ones suffered.
Life insurance generally does not take into account emotional damages. Most people take it out enough to make sure their family can meet bills later. Nobody factors their loved ones suffering in.
Also, in a wrongful death case the award is not just the value of your life, it is also for the pain your loved ones suffered.
Life insurance generally does not take into account emotional damages. Most people take it out enough to make sure their family can meet bills later. Nobody factors their loved ones suffering in.
Posted on 2/28/22 at 11:36 am to Hogwarts
quote:
Insurance is a scam, breaking news at 10
Make sure your family puts your go fund me link for your funeral on TD, idiot
Posted on 2/28/22 at 11:52 am to slackster
quote:
you equating your life insurance face value to the sums paid out in wrongful death cases?
Example:
Thug robs bank, shoots teller.
Then kills a motorist in car jacking
Then in high speed chase hits/kills pedestrian.
Family of pedestrian gets 10 million because “if police didn’t chase” and “ should have let the guy go because chasing him led to someone’s death”.
Other people killed…lol he ain’t got nothin for you to get…try to blame the bank for not having better trained security guards?
I guess “wrongful death” claims seem biased if punishment is not really based on direct cause and most of the punishment is derived from their 0.01% involvement in the entire situation. The smallest of involvement carriers the heaviest punishment?
And why is it about the deepest pockets, doesn’t that “adversely effect” one over another?
Posted on 2/28/22 at 11:54 am to SammyTiger
quote:
if you could afford a 10-20x bigger policy would you get it?
I could but see it more as an unnecessary gamble.
Going term vs whole allows you to double coverage as well. (Rate difference)
Posted on 2/28/22 at 11:55 am to Kujo
Equating pay outs of life insurance policies and wrongful death lawsuits doesn't make you sound smart. That's all I have to say.
Posted on 2/28/22 at 12:01 pm to Kujo
And that’s my point
Life Insurance isn’t an evaluation of your life.
It’s a risk reward balance of payout vs premiums.
Life Insurance isn’t an evaluation of your life.
It’s a risk reward balance of payout vs premiums.
Posted on 2/28/22 at 12:05 pm to Origins of Asymmetry
quote:
equating pay outs of life insurance policies and wrongful death lawsuits doesn't make you sound smart. That's all I have to say.
You sound like a bureaucrat. Those who regurgitate the letter of the law as gospel while shysters abuse it.
I’m trying to understand the overall rationale that makes someone’s life worth more.
Some chick has a gangbang with 20 dudes… Child support payment is completely dependent on exactly which one of the 20 deposits of sperm inseminated the egg?
I understand the letter of the law, but same act different punishment seems to be willfully overlooked.
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