Friday, January 25, 2008

Tallying your own feeling of self-worth

With the arrival of our second child, I felt it was time to face the stark reality of our own mortality and look into getting life insurance for my wife and myself. We'll both soon pass 40 and time will probably only speed up from there. The insurance agent just emailed to let me know everything is ready if we'd like to go ahead with creating the policies. But, there's a catch.

We signed up to get two 1-million Euro policies covering the next 20 years, and chose for a version that scales both payout and premium to a regular increase to match average inflation.

Anyway, the catch: no problem, they're all set for the 1M for me. However, because of my wife's declared profession on the form ("homemaker" or "mom" or "source of sanity"), she'll only be covered for 750,000.

Excuse me?! What number do you put into a spreadsheet to figure out an annual Net Worth(tm) like that? Now, couple this with the fact that I have to sign our tax return but her signature (hidden on page 3) is optional.

A little more gender bias, anyone?


  1. "We'll both soon pass 40..."

    Speak for yourself old man.

  2. I would have thought it had less to do with chauvinism and more to do with economics. Is that the kinda thing actuaries work out, when you'll die and what you're worth?

    Oh but the tax form definitely sounds like sexism. It's not that long ago that a woman's PRSI number was the same as her husband's but with a different letter at the end?

  3. In the profession box you should have put Director of Domestic Affairs. As for calculating someones worth?? Christ almighty, what a ludicrous statement in itself. A family unit is exactly that. Everyone has a role that unless fulfilled makes the unit not work. Therefore all members in this working unit are of equal value. Pffft this kind of thing pisses me off. Add to this the difficulties involved if both parents want to work. They cant ruddy well afford too because the cost of a creche is so high.

  4. The insurance world is not political, they just work their numbers. Same with many business that don't hire people if they think they're going to have babies or go to Australia.

  5. And the numbers are only worked that way because they don't tally the exact amount of work a woman at home does and how much it would cost to replace her with working professionals, of course.