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Are You a Stock or a Bond?: Identify Your Own Human Capital for a Secure Financial Future, Updated and Revised by Moshe A. Milevsky

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2. Insurance Is a Hedge for Human Capital

“...I am young and healthy so I don’t need any life insurance, yet. I’ll think about it more seriously once I get much older and am more likely to die....”

—Myth #2

A few years ago an older MBA student in one of my courses complained to me during a lecture on insurance that he had been diligently paying premiums for years on a multimillion-dollar term life insurance policy. With the benefit of hindsight, he was frustrated at all the money he had wasted on the life insurance policy, with no investment return to show for it. I replied, jokingly, that my wife was actually Italian with strong family connections in Sicily, and I might know some people who know some people who might be able to arrange for a ...

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