Economic Value & Life Insurance

Economic Value : 

Economic Value Mutt & Jeff - Reprint Permission from King Features Syndicate 11-20-2000

Economic Value Calculation : 

Economic Value Calculation Life insurance is bought not so much because people die but, rather, because incomes die. Replacement of human life value still remains as the fundamental reason for the purchase of life insurance.

Potential -vs- Acquired : 

Potential -vs- Acquired 3 WHAT YOU HAVE ACQUIRED YOUR POTENTIAL PROTECT FIRST THAT WHICH YOU CANNOT AFFORD TO LOSE!

What’s the Worth of a Man’s Life? : 

What’s the Worth of a Man’s Life? there is an elderly bachelor with no close relatives, those relatives he has may get little more than enough to bury him. After all, the law reasons, the old gentleman's future was not worth much anyway. This scenario is the well-educated guess of an attorney deeply involved in the proceedings. It boils down to a legal standard that... “a man's worth is determined by how much he makes, how much he is likely to make, and whom he has to leave to." His worth as a human being has little, if anything, to do with it. A standard legal text says: "...had the decedent lived, the Court must consider what he earned, what he was likely to earn, what he spent on customary personal expenses, for instruction and moral training... his sobriety and thrift and occupation... and services before his death.“ "Of course, it's very unfair," said John J. Kennelly, the attorney who handles more of the Flight 191 cases than any other lawyer. "Of the complex laws governing the 34 plaintiffs within this charge... we are going under the 14th century (English) Common Law... it's a stage coach law. If you say the law is an ass, of course it is." He and Philip Corboy who handles the 26 of the 122 suits now before the US District Court of Northern Illinois, are more concerned over the dollars and cents difference between compensatory and punitive damages. A standard legal text says: "...had the decedent lived, the Court must consider what he earned, what he was likely to earn, what he spent on customary personal expenses, for instruction and moral training... his sobriety and thrift and occupation... and services before his death.“ Source: United Press International, Bulletin Today, May 30, 1980, Manila, Philippines

WASHINGTON — Some families and victims of the Sept. 11 terrorist attacks would likely become millionaires under the terms of a tentative settlement package announced Thursday by a federal mediator. Under the plan unveiled Thursday, Washington attorney Kenneth Feinberg said that awards to families of the more than 3,200 people killed in the attacks on the Pentagon and the World Trade Center and the plane crash in the : 

said initial estimates suggest the program could cost, about $6 billion. “While there is no amount of compensation that can replace a human life,” our goal is to aid those who have so greatly suffered as a result of this horrendous act,” Feinberg said. Also on Thursday, Feinberg announced an immediate $50,000 advance on their settlement would be sent to families of the dead if they request it and that a $25,000 advance would be paid to those severely injured.While the law enacting the fund would have permitted Feinberg to reduce families’ awards by the amount of charitable aid they have received so far, Feinberg said he opted to permit families to keep the aid and money from the victim compensation fund. However, he warned, under the law, such income as life insurance, Social Security payments and death benefits must be deducted from the awards, which could reduce some families’ awards significantly. The amount relatives receive would depend largely on the victim’s family size, age and earnings. For example, the widow and two children of a 35-year-old stock trader earning $225,000 or more a year could receive $3.6 million before deductions for life insurance and other cash received, while the survivors of a 25-year­old single worker who made $25,000 annually could receive $1.17 million before deductions.The widower of a 40-year-old childless Pentagon worker earning $60,000 a year would receive $640,000 before deductions. The Victim Compensation Fund is part of a hastily enacted airline bailout law signed into law 12 days after the attacks that limited the airline industry’s liability in the Sept. 11 attacks and promised to pay “full and fair compensation” to every victim’s family if they waive their right to sue. WASHINGTON — Some families and victims of the Sept. 11 terrorist attacks would likely become millionaires under the terms of a tentative settlement package announced Thursday by a federal mediator. Under the plan unveiled Thursday, Washington attorney Kenneth Feinberg said that awards to families of the more than 3,200 people killed in the attacks on the Pentagon and the World Trade Center and the plane crash in the Pennsylvania countryside would average $1.6 million. About 2,000 badly injured would receive payments tailored to the severity of their injuries and effect of those injuries on their jobs.The money will be paid from an open-ended federal fund created by Congress as part of the airline bailout legislation. Feinberg called the effort “an unprecedented expression of compassion” on the part of the American people to the victims and their families. The fund’s eventual size will be determined by the number of families that apply and the size of awards, but Feinberg Human Life Values & 9-11 Victims’ Families Compensation

Slide 6: 

“To be “under-insured”is the greatest gambleany breadwinner can make,and it is particularly a tragic onebecause if the breadwinner loses,his or her family ultimately pays for it.” 6

DEATH…is like the Thief in the night. : 

DEATH…is like the Thief in the night. can provide guarantees that no matter what happens, your "Economic Value"will never be stolen from your family.

If you’re willing to give upyour life for your family,why don’t you insure it for them? : 

If you’re willing to give upyour life for your family,why don’t you insure it for them? It’s too bad enough to die.Why do it for free?

SynergiaBusiness Presentations : 

SynergiaBusiness Presentations Joaquin “Duke” G. Wilwayco8301 Ephraim Road, Austin, TX 78717Phone: (512) 799-2999 Fax: (512) 671-6377Email: dgwilwayco@aol.com