American International Group, the insurer getting a $152 billion federal bailout, disclosed it will pay approximately $3 million to several executives under deferred compensation plans that will be terminated. These arrangements have come under increased scrutiny as stock holders are questioning the large executive payouts in companies with plummeting stock values.

Personally, I just don't get it. If your company has to have a federal bailout because the business is mismanaged, why do you get a bonus or deferred compensation? Every job that I have ever had tied my compensation to my performance with financial targets. If I didn't hit my goals, my pay reflected this.

I know, these executives claim that there are market forces that they could not control. Like GM, Chrysler and Ford, they claim that their present financial problems have nothing to do with management. They report that it is simply a combination of factors that has put their corporations into bankruptcy.

I have owned and operated four corporations, and I take umbrage with their view. Anyone can steer the ship when the seas are calm. A dog could sit in the CEO seat and do just fine. It is much more complicated to manage when there are challenges. Isn't this what the big bucks were for in the first place?

These sweetheart deals are part of the corporate greed that has gotten our economy in so much trouble. Somewhere along the line, executive salaries took off while there was wage compression for everyone else. Is anyone really worth all that money? Especially with poor performance? Do I get to vote on some of these bailouts?

Barbara Bartlein is the People Pro. For her FREE e-mail newsletter: The People Pro.

This post is part of a series where personal finance expert Dan Solin provides 10 insurance tips no one else will tell you. See all 10, plus one bonus tip!

Whose interests does your insurance agent represent?

You might think the answer is obvious: Yours, of course.

Not so.

The issue is whether or not your agent has a "fiduciary" obligation to you. If so, she accepts the highest duty of loyalty and care. She cannot have any interests that conflict with yours.

In most states, however, insurance agents are not fiduciaries. They have no obligation to place your interests above their own or above those of the insurance companies they represent.

In those states that impose a fiduciary obligation on insurance producers, the industry has strongly resisted being held to this higher standard. The California Department of Insurance issued a legal opinion imposing a fiduciary duty on insurance brokers. The industry strongly criticized the opinion, calling it "erroneous."

The insurance industry spends mega advertising dollars to convince you to "trust" its agents. Most consumers believe that their agents are acting solely in their best interest -- and I am sure that many are.

Ken and Daria Dolan, America's First Family of Personal Finance, answer your money questions every Friday.

Click here to ask Ken and Daria your question.

Having life insurance is sort of like that TV show, The Price is Right: The winner in the insurance game is the one who comes closest to meeting their exact life insurance needs without going over. So, how do you know how much you need -- and how long do you need it for?

This question gets trickier to answer as you enter retirement. Check out our video response below to learn what criteria you need to consider when making this important decision.

Dear Ken and Daria,

I have a life insurance policy through work that will end when I retire soon. I say we still need the insurance, but my husband disagrees. What do you suggest?

-Flo

Taking care of your life insurance needs is a critical part of your financial plan. Start with Ken and Daria's worksheet on Dolans.com to make sure you're getting the right coverage.

Worried about being abducted by aliens? Being mutilated by an enraged lover or having your dream wedding turn into a nightmare?

Fear not, there is insurance to cover these and many other risks that you might not have even considered. Insurance is not at all restricted to cars and houses and health anymore. If you can dream up a risky scenario, chances are there's a company out there willing to hedge a bet against it. Here are ten exotic policies that actually exist:

• Alien abductions: The UFO Abduction Insurance Co. offers $10 million worth of coverage to anyone who can prove that they were kidnapped by extraterrestrials. But as with any insurance policy, it pays to read the fine print. The Florida company requires that claimants get the signature of an "authorized on-board alien" for their claim to be considered, said Mike St. Lawrence, the company president, in an interview. The policies, which cost $19.95, pay out in increments of $1 per year. Nonetheless, quite a few people take his policies seriously.

• John Wayne Bobbitt: London-based insurance broker Goodfellow Rebecca Ingrams Pearson, which quit selling alien abduction policies after the Heaven's Gate mass suicide, offers coverage to men worried that they will get mutilated in the same way that gained Bobbitt notoriety, according to Investment News. No word on whether the policy includes psychological counseling.

• What kind of accounts are insured? Checking, savings, money market deposit and certificate of deposit accounts; also, some kinds of retirement accounts, including IRAs and Keogh accounts.
• How does the $100,000 limit work? If you hold any combination of accounts at one bank -- checking, savings, CDs, whatever -- your accounts are added together for insurance purposes. The only way to get past the $100,000 limit is if you have an IRA or certain other kinds of retirement accounts; these accounts are insured up to $250,000.