A few months ago I sold a computer memory module to an octogenarian and promised him that the product carries a lifetime warranty. I assured him that should it fail, he can always come to our store and exchange it for another. To this the man in his eighties replied with a smile, “Whose life are you talking about here?” Is it his life, the product’s life, or the store’s life?
While at that time we enjoyed it as a joke, I couldn’t help think of it when AIG was on the brink of failure this week. When an insurance company offers life insurance the prospective client rarely think of the company’s life. We take it for granted and go about paying premiums religiously month after month. And remember AIG was targeting aged customers with no medical, guaranteed acceptance.
