quality of life
Definition of quality of life
: how good or bad a person's life is The drug is used to improve the quality of life for patients who have chronic illnesses.
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Word by Word Definitions
: peculiar and essential character : nature
: an inherent feature : property
: capacity, role
: being of high quality
: the quality that distinguishes a vital and functional being from a dead body
: a principle or force that is considered to underlie the distinctive quality of animate beings
: an organismic state characterized by capacity for metabolism (see metabolism 1), growth, reaction to stimuli, and reproduction
: of or relating to animate being
: lifelong
: using a living model
Financial Definition of QUALITY OF LIFE
quality of life
What It Is
Quality of life describes the happiness, independence and freedom available to an individual.
How It Works
For example, if John Doe hits a dog with his car one night, he may have to consider euthanizing the dog if the veterinarian determines that the dog's quality of life, should it survive, would be very low.
Why It Matters
Quality of life is a subjective measure. However, even in the math-oriented world of investing, it plays an important role in setting investing goals and determining one's tolerance for risk. It is also important in matters of insurance and health care, which often hinge on a patient's ability to perform the activities of daily living independently (eating, bathing, dressing, toileting, walking and continence).
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