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Fordham University

Larry Light: The comfort of insurance

Joseph W. Jordan didn't start out life well thanks to a big mistake his father made. In 1952, Jordan's dad cashed in his life insurance policy. But then his father died in an auto accident, leaving the family near poverty. This shows how small errors with money can bring huge problems. Joe, an infant at the time of his father's death, and his three siblings grew up hardscrabble. They lived in a small apartment in the Bronx, unable to buy new clothes or a car. His mother took full-time secretarial work. Joe went to work at 13 at a neighborhood dry cleaner. He worked his way through college at Fordham University, where he played football and rugby. If his father, a lawyer...