7. A Measure Of Self-Worth.

What is Thanksgiving ? A delightful medi-
tation on what the Lord has done for us.
What is life insurance ? A delightful medita-
tion on what we have done for others. - Benjamin David King


How much are you really worth?

For a person to buy $ 1 million worth of cover, he probably has to satisfy the underwriters that he is worth at least two times that amount. Taking as a real example, one of the largest single policies ever placed was $ 25 million on one life. Trying to demonstrate that the intended insured was worth $ 50 million proved to be some hassle. Fortunately, it could be done. As a rule, most companies prefer having 25 persons being insured for $ 1 million each other than 1 person being insured for $ 25 million. (The name of the game.. spreading risks.)

Life insurance allows a person to put a reasonable price on his or her worth. Many housewives go through a process of self-doubt because they no longer have a ''market price'' on their economic worth. Before quitting work, to become full-time housewives, they knew, as secretaries or executives, they had a certain price tag. Now as they do the unending housework, change diapers, wash up and tuck little ones into bed, they may wonder if they can command the same market price. Or have the same value.

Life insurance can assist them in getting a fairly accurate value of their economic worth. If they previously earned $30,000, they could be insured for $300,000 easily (that is, ten times their worth.)

Another group who are gratified by what life insurance can do for them are those in the ''High Worth - Low Pay'' group. These may be highly qualified graduates just starting out to work e.g. a Master's degree holder who is paid only $3,000 per month. Some other people because of the nature of their work e.g. social workers and religious workers may be worth very much but cannot be remunerated an amount commensurate with their worth or contribution.