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We can also look at Pharmac's qualy's. Based on 1 life = 80 qualy's, the VOSL is somewhere between $1m & $8m. All these estimates are based on how much we as a society are willing on average to spend to stop an avoidable death/injury. How much one should insure for is more about indemnification so that one's dependents' qualy's are maintained before/after one's death. I would be surprised if this amounted to the VOSL for most kiwis. Not sure where your personal interest in your life (infinite) comes into the equation. Dealing with infinites is difficult from a risk management perspective. Maybe there is another blog post in that.
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Feb 25, 2018