When Was Life Insurance Invented?

1. 

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   Matt Benore

   Founder, DenverWest Insurance Professionals, Inc.,

   Life Insurance was first created back in the early 18th century, 1706 to be exact out of London.  Amicable Society for a Perpetual Assurance Office was the company name created by a William Talbot and a Sir Thomas Allen.  People would pay an annual rate for one to three shares which were divided up among the deceased bases on the number of shares owned.

   Answered on January 27, 2014

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2. 

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   Mark Taylor

   Licensed Life Agent, Life and Finance/ 50 States, New York

   This will interest you! Insurance in general is as thousands of years  old. 2000 B.C. in China and 1750 B.C. by the Babylonians to protect the trader`s goods. However, in Rome, an early form of Life Insurance was used called burial clubs in which payment was made to the beneficiary and for the payment of burial services. This was all for the payment of a premium.

   Answered on January 31, 2014

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