What is the better approach to living?

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In life, making the right decision among various fateful options is a challenging task, especially when it involves the future or the fate of our loved ones, the state’s economy, and the daily challenges we encounter with ourselves and others. This dilemma persists across different levels of our lives. The question arises: what is the better approach to living?

On one hand, there’s the option to embrace the pleasures of life, seizing whatever we desire without much concern for the risks that the future may hold. On the other hand, there’s the cautious path, where we deprive ourselves of certain pleasures to safeguard against the uncertainties of time. Should we spend recklessly, disregarding the future’s unpredictability, or should we save diligently, preparing for the uncertainties that may lie ahead?

Reflecting on the lives of millions after their passing, we observe a division between those who chose the first approach and those who opted for the second. Some who saved and spent sparingly may have lived a frugal life only to pass away as millionaires.

Others, who chose to live for the moment, enjoying their wealth, may have faced financial difficulties and humiliation in their later years. There is no universally agreed-upon theory or method for striking the right balance between these two approaches.

Often, we confront this dilemma after reaching adulthood, and the prospect of changing our established character becomes a daunting challenge. Balancing financial prudence with enjoying life’s pleasures remains a personal struggle, with no one-size-fits-all solution.

Life insurance companies utilize tools, such as mortality tables, to calculate an individual’s life expectancy based on various factors, including age and gender. These tables provide information on mortality rates at different ages, indicating the number of deaths per thousand individuals at a specific age. Life expectancy, a statistical estimate of the average years a person is anticipated to live, relies on actuarial data.

When purchasing a life insurance policy at a young age, the cost is typically lower due to the longer life expectancy, reducing the insurance company’s risk in paying death benefits. Several factors influence life expectancy, including date of birth, gender, personal health, family medical history, lifestyle habits such as smoking and drinking, occupational hazards, level of physical activity, and more.

Over the past 200 years, life expectancy has notably increased, particularly in developing countries. Monaco leads with an average of 87 years, followed by Hong Kong at 85, Japan at 84, and the United States with women at 79.1 years and men at 76.1 years. However, the U.S. recently experienced a decrease to 73 years due to factors like drug-related deaths, road accidents, homicides, and the Covid-19 pandemic.

In Kuwait, the average life expectancy surpasses 81 years for women and reaches 77 years for men, potentially ranking among the highest in Arab countries.

It is unfortunate what we see in the indifferent and irresponsible way in which the National Assembly deals with social insurance funds, as if the state is disappearing tomorrow, just to please some voters, at the expense of the public interest.

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By Ahmad alsarraf

This news has been read 861 times!