Clark has been on the air since the mid-80s and he remembers getting a flurry of panicked calls about a failed insurance company known as Executive Life in 1991. The company was one of the largest in the industry at the time and callers were wondering if their policies would be okay and their money would be safe. At the time, Clark figured it would take a few years to resolve the issue and told them so. Well, today he picked up the L.A. Times and saw an article about customers still being affected by the failure of this company. The headline read, “Customers of Executive Life Fear Big Losses.” So, 13 years later, customers are still out money that they may not ever get back. You may wonder how this is possible, but there are serious problems with the insurance industry. One of the major problems is that insurance is regulated by each state and there is no federal equivalent that protects people. Therefore, funds are not secure and there is no guarantee that you will get your money back if a company fails. So how do you protect yourself? If you’re buying life insurance, disability insurance or any long-term insurance, you must do your homework. Buying homeowner’s and auto insurance is different because these are short-term. But you need to know the financial strength of a company when it comes to other types. And, it’s only a mouse click away. Go to ambest.com, which grades insurance companies. All you need to do is pick a company that is A++ or A+. Those are the best companies out there and they’re likely to stick around. Clark never imagined that the insurance industry would fail policyholders so badly, but it has. So, make your choices wisely.