The Value of One Year of Human Life: $50,000 or $129,000?

umsami · May 26, 2008

http://www.time.com/time/health/arti...0.html?cnn=yes

Quote:

In theory, a year of human life is priceless. In reality, it's worth $50,000.

That's the international standard most private and government-run health insurance plans worldwide use to determine whether to cover a new medical procedure. More simply, insurance companies calculate that to make a treatment worth its cost, it must guarantee one year of "quality life" for $50,000 or less. New research, however, would argue that that figure is far too low.

Stanford economists have demonstrated that the average value of a year of quality human life is actually closer to about $129,000.

I had no idea that insurance companies used $50,000/year.

saintmom · May 26, 2008

I think insurance is such a scam any way.That's why we carry very little.Ever see a poor insurance agent?I had read somewhere that in the 20's and 30's it was called "protection money" and was run by gangsters and theives.Some churches even preached against its use.Makes you wonder.

Human life is priceless.

~Jenna~ · May 26, 2008

Quote:

Originally Posted by saintmom

Ever see a poor insurance agent?

Yes. Lots actually. Dh used to be an insurance agent. Not many people make it in that business, it's very competative and in a lot of companies you live off commission. So no they don't always do what's in your best interest because they are trying to get their commission.

phathui5 · May 26, 2008

I really think insurance companies are bad. I'm usually all for capitalism, but there's something wrong with a company making more money by denying you healthcare.

The Value of One Year of Human Life: $50,000 or $129,000?

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