I had lost track of a couple we knew from our old neighborhood. Then I got a call from my wife that “Bill” had died. A few weeks later, she told me that Bill’s widow was more furious than grieving. Apparently Bill had left his wife almost no life insurance. This upper-middle-income widow was suddenly thrust into the position of wondering how she’ll be able to live comfortably. 

What made me think of this incident was a chart I saw showing how little life insurance is being purchased by American households. Seriously, less than a third of individuals own individual life insurance? Only a little more than half have life insurance from any source? This is financial madness. Do people think the medical profession has found a way to prevent death? Is no one in the country dependent on others for financial support these days? 

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