How Much is Your Life Worth?
With people dying in road mishaps every single day and the compensation to most of them is nothing more than Rs. 50,000 one tends to think what the price tag on him or her would be. The funny part is that you don’t get to decide what your life is worth, it is left in the hand of court and Insurance companies who do not care about you in the first place and if they had their way, they would try charge processing fees to settle a claim for a death (Which I am sure they charge anyways).
So the question remains? How much is your life worth, or better yet… how much do your think you are worth when you die. In the Unites States, any accidental death due to negligence is heavily compensated, in tune of a few million dollars, when we compare this to Inida… the compensation is nothing more than $1,200. I don’t think $1,200 is any thing these days, this is probably the reason why there are more accidents on the road as the human life in India is worth peanuts.
Below is an excerpt from HT, which shows the callous attitude of Insurance companies.
“It seems precious life of a human being is of little concern to insurance companies. In settlement of a claim for a damaged vehicle they take immediate steps to appoint investigators, surveyor and photographer the companies also have tie-up with various car manufacturers and leading auto workshops to help out the insured for immediate delivery of the vehicle. Atrociously, no similar plans are taken by these insurance companies to compensate victims of road accidents. They delay the payment as much as possible,” said Justice Gambhin