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It's useful to think that way, until you add more options: G: 5% chance one of your parents die, preparation costs $X H: 3% chance you die, preparation costs

• __s 6y ago
  Refusing to answer the question doesn't mean you won't have to make that decision. Better to've considered these questions ahead of time. People run into this when they haven't decided how much they're willing to pay before putting their pets down The 5%/X 3%/Y question is also hard to answer since one also has to consider how much is it mitigating, if I survive with chronic pain or something then that loses value. Assuming full mitigation: I'd be willing to pay ~16000$ to skip a 1/30 chance of death (valuing ~480000$ to live ~50 years, or 9600/year being-alive tax) For my parents I'd be willing to pay ~9000$ to skip a 1/20 chance of one of their's death. (valuing ~180000$ for them to live ~30 years, or 6000/year being-alive tax)