About Mark Pace

T. Mark Pace

When there is an immediate need for cash at the time of someone’s death, it has been my experience that life insurance, when properly acquired and managed, is one of the best tools ever invented for the creation and transfer of wealth. However, life insurance is rarely acquired properly and, because it is mistakenly assumed to be a "buy and hold" asset, it is never managed. The resulting financial disasters are far too frequent and completely avoidable.

If you would like to learn more about any Pig-in-a-Poke blog posts or discuss any other life insurance issues, contact T. Mark Pace at Mark@objectivereview.com


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Pace’s Pig-in-a-Poke

About Pace’s Pig-in-a-Poke

Pace’s Pig-in-a-Poke, provides an arena for sharing the four great passions in my life. My three foundational passions are:

  1. Invest in yourself first;
  2. The genius in all of us, and;
  3. We can all live a long healthy life.

These three support my life work and my fourth passion; LIPM™ (Life Insurance Property Management).

As the blog title suggests, my focus is on debunking all of the myths, misuse, and muddled thinking that has accumulated in the life insurance industry. And, from time to time, I will go outside of the specific world of life insurance and share my views on my other three passions.

I hope you find my blog worthy of your attention, informative, and occasionally inspirational. I welcome your comments, questions and suggestions.

Mark Pace

Enjoy yourself; you’ve longer than you think!


The Poke:

What is your life expectancy?

If you are like most people, your answer to this question is too low.

While the life expectancy data published annually is accurate, meaningful and a key component in how actuaries arrive at the cost of life insurance, its relevance to your life expectancy decreases with each passing year.

The Poke Exposed

As of July 2011 life expectancy for women in the United States was 80.8 years and for men, it’s 75.6.

But for whom does this life expectancy toll? Fear not, for unless you are a newborn, it does not toll for thee. (My apologies to Hemingway.)

The average life expectancy numbers published annually refer to a broad spectrum of Americans; all of whom were born that year. That’s right, life expectancy numbers estimate how long half the babies born that year will live.

What this means is, the longer you live, the longer you should live. So, if you are a healthy 65-year-old male, you can reasonably expect to live another 20 years.

As soon as you realize this, your life expectancy number changes dramatically. And, if you get more specific and eliminate irrelevant sub-sets within the population (like smokers) from the average, your number continues to climb.

So, right when you think your time is up, you probably have another decade or two ahead.

Pace’s Poke Remedy

Underestimating your life expectancy can cause a poor attitude about your vitality and health. You can literally will yourself to death. When you accept something that isn’t real, it becomes real… especially in this regard.

The most common repercussion of misconceived life brevity is the tendency to run sprints instead of marathons. Here’s an example; if a married couple is aged 65 and healthy, it is probable that one of them will live to be 100. This means their joint life expectancy becomes 100. But, if at age 55, they think their life expectancy is somewhere between 70 and 75, which is common, they do dumb things as they sprint to the finish line. They spend too much, they stop working out, and they try to get everything done before they get “too old”. All of which can have a drastic, negative impact on their life expectancy and severely impact their quality of life in the later years.

But, as soon as they realize they have longer than they think, they can change their attitude and behavior and really start to live now in a manner that enables them to live longer and live better.

I have given this message to all sorts of people and many have immediately changed their behavior. They start eating properly and working out. They make time for more leisure activities and seek greater balance in all aspects of their lives. Quite frequently, this knowledge inspires people to shape their careers in a manner that makes it appealing, enjoyable and fulfilling to work longer. Face it, no one wants to live an extra 30 - 35 years and be stuck doing something they do not enjoy.

One last word about living a long time: perhaps the greatest fear people have is that of living a long time but being unhealthy.  Here’s the magic… people who take good care of themselves live a lot longer and their average period of decline is much shorter.

This pattern has been made evident in our work. Our personalized longevity studies, called the Life Span Advantage (LSA), includes morbidity info on top of personalized longevity. Morbidity describes how your longevity will likely break down and this information can help you change your lifestyle in ways that make a huge difference.

Here is an example: A 77-year-old woman who still competed in senior Olympic marathons suffered from osteoporosis with fractures. As a result, her life expectancy was very low. Her LSA projected she had 12 years to live, nine of which would be hampered by significant frailty. She took action right away. She stopped racing and took up spinning instead. She also moved into a single story home closer to her children. These simple steps made an immediate and lasting difference and she has been enjoying a much more rewarding, active, healthier and longer life.


About the author

Mark Pace
Mark Pace
When there is a need for immediate liquidity at the time of someone’s death, it has been my experience that life insurance, when it is properly acquired and managed, is one of the best tools ever created for the creation and transfer of wealth. However, in my 35 plus years of experience, life insurance is rarely properly acquired and never managed… thereby creating a monumental financial disaster for many individuals that should never happen.

If you would like to learn more about this Pig-in-a-Poke subject or discuss any other life insurance issues, contact T. Mark Pace at Mark@objectivereview.com


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