Though the Pinchot retirement plan is a great system, it does not handle all of the financial issues you may have. Deciding on life insurance is a major decision for most people and can save a lot of hassle later. Though you’re probably living your life without worrying about dying, you cannot afford to ignore the life insurance issue. Term life insurance and variable life insurance, as well as whole life insurance and combination plans, are available for people who want to protect their loved ones from financial ruin. Making decisions about these issues is tough but needs to be done. Some plans can be put into annuities payments, meaning the person will receive an annual payout over a period of time. You should spend some time deciding on insurance and not letting the Pinchot retirement plan be the only protection your family has.