Your Price of Time

Time is something we all are bestowed with, yet everybody uses their time differently.  How time is used is the price one pays for time.

Research out of Stanford shows that the average cost for “one quality-adjusted life year” for a dialysis patient is $129,000 which the dialysis patient pays 2 years of their time to attain.  For those patients with dementia and other complications the cost for “one-quality-adjusted life year” increases to $488,000.  Most health insurance companies, on the other hand, use a guideline which requires a treatment to provide at least “one quality-adjusted life year” in order to justify an expenditure of $50,000 or less.

So, who determines these values becomes a very important question as your time is most likely more valuable to you, your family members, or your friends than it is to these researchers and insurance companies.  Even so, many people don’t even value their time as much they should.

For example, people undervalue their time by spending time in non-productive activities.  There is value in spending time with others, but idle loitering is time wasted.  Same with TV and social media.  Time is precious and how it is spent needs to be evaluated to make sure quality of life is not being destroyed because of time lost.

Time is added to the world with each life that comes into this world.  Time is taken away from the entire world upon the death of each and every person.  In other words, death, including abortion, destroys time not only for the one who died, but for the entire world.  Once that time is lost, it can never be recovered. This leads to the economic concept regarding “that which is seen and that which is not seen”.   A broken window can provide work for the glass maker and the installer, which is the seen results of a broken window.  But that which is not seen, and never will be seen because the window was broken, is the lack of what could have been.

Wasted time destroys the economy just like the broken window does.  What could have been, a new invention, a quicker way to accomplish a necessary task, a fresh or improved relationship, an original song, or an improved life, may never happen because of wasted time or because of a life cut short.

Life insurance has long been used to replace lost time due to death.  Time is lost when death occurs but life insurance replaces that lost time so that children and spouses can continue to use the time allotted them without wasting more time trying to recover the time they have already lost due to the death of a parent or family member.

For example, life insurance companies use a “human life value” to determine how much life insurance a person can have on their life.  This can range from 5 to 30 times the income an individual earns.  The older one becomes the lower the multiple that is used to calculate the “human life value” of a person.

The average life insurance coverage needed to replace the “human life value” of a person living in the U.S. is around $459,000. Yet the average life insurance coverage owned in American is only $129,000.  Which means that the average American doesn’t value their own time as much as the insurance companies value it.

Don’t let the time you have been allotted be destroyed or wasted.  Redeem that time today for pennies on the dollar.  It has never been easier than it is today to insure your time for its maximum “human life value.”

Click here to schedule your appointment now. Time is wasting.