When their barn burned down, the old man told his wife: "Don't worry, we had it insured for $50,000."

So the old lady calls the insurance agent, tells him the barn burned down, and asks: "How soon will you send the check for $50,000?"

The insurance agent replies: "Well, that's not exactly how it works. You see, the $50,000 coverage is a maximum.  We are going to have to send out an adjuster to determine what the actual value of the barn was, and then we will compensate you for the actual value of your loss."

There is a silence.

Then, speaking slowly and quietly, the old lady says: "Oh. Is that how insurance works?"

"Yes," says the agent, "We can only pay you for what the insured item was actually worth."

"Well, in that case, I want you to cancel my husbands life insurance!"