Average Price of Life Insurance in US and UK
How Much Does Life Insurance Cost?
MAXIMUM ANSWERS © MXMCREATION
How Much Does Life Insurance Cost?
MAXIMUM ANSWERS © MXMCREATION
Life insurance has an unbelievably long history. As usual it was the Chinese who invented it around 5000 BC, but then isn’t it always the Chinese who were the first to come up with things like that, well they were the first to do that until the nineteenth century or so, then they seem to have going down hill for some reason. What a shame they didn’t insure against that!
In Rome too, people were investing in their deaths, which when you think about it is what we do when we buy life insurance. The Romans came up with the idea of ‘burial clubs’ which were not at all kinky unlike most of their clubs, but designed to cover the costs of funerals.
The idea being a dreadfully simple one, several friends would each pay a little something each week into a fund which as it grew paid for the members funerals and settled their debts.
In England in the seventeenth century in a coffee house in London called Lloyd’s people came together to conduct all sorts of insurance business and as the business itself grew the enormous insurance giant Lloyd’s of London emerged.
Quite when Lloyd’s of London began providing life insurance as well as they usual business of insuring traders, ships and other commodities but today they are one of the largest life insurers underwriting the business of many named brands of life insurance companies, and so Lloyd’s of London qualify as the ultimate life insurance company.
It wasn’t until 1760 that life insurance was sold in America at first religious communities began to collect premiums for their ministers widows and orphans. As with any good business once the first company in the field proves that they have a money earner more companies follow and between 1787 and 1837 over twenty five life insurance companies opened their doors to the public.
Today life insurance is a mature and much needed product that everyone should invest in.
In Rome too, people were investing in their deaths, which when you think about it is what we do when we buy life insurance. The Romans came up with the idea of ‘burial clubs’ which were not at all kinky unlike most of their clubs, but designed to cover the costs of funerals.
The idea being a dreadfully simple one, several friends would each pay a little something each week into a fund which as it grew paid for the members funerals and settled their debts.
In England in the seventeenth century in a coffee house in London called Lloyd’s people came together to conduct all sorts of insurance business and as the business itself grew the enormous insurance giant Lloyd’s of London emerged.
Quite when Lloyd’s of London began providing life insurance as well as they usual business of insuring traders, ships and other commodities but today they are one of the largest life insurers underwriting the business of many named brands of life insurance companies, and so Lloyd’s of London qualify as the ultimate life insurance company.
It wasn’t until 1760 that life insurance was sold in America at first religious communities began to collect premiums for their ministers widows and orphans. As with any good business once the first company in the field proves that they have a money earner more companies follow and between 1787 and 1837 over twenty five life insurance companies opened their doors to the public.
Today life insurance is a mature and much needed product that everyone should invest in.
