Only a few weeks ago, progressive health-care reform seemed like a foregone conclusion. The so-called public plan—a government-operated insurance option championed by President Obama and other prominent Democrats—was to be the legislation’s central program.

Most people think there’s just one type of life insurance policy. You pay a set premium at regular intervals, over a pre-determined period of time–say, 20 years. If you die at some point during the course of those 20 years, you collect a predetermined amount of money. That money will provide your dependents with the liquid assets they’ll need in order to be able to deal with the immediate financial consequences of your death. If you survive the 20 years, your policy runs out. Either you stop paying your premiums, or you buy a new policy. This is what most people think about life insurance.