Rensselaer Semi-Weekly Republican, Volume 36, Number 90, Rensselaer, Jasper County, 5 July 1904 — Origin of Life Insurance. [ARTICLE]

Origin of Life Insurance.

“I don’t have to have my life insured,” said the business man to the agent, '‘but I So want to know how life insurance originated. Can you tell me?” “I can,” the agent answered. “It originated in 1706 in London. In that year there was formed the first life insurance company. It was called the Amicable Society For a Perpetual Assurance Office. It was a mutual benefit concern. Each member, without reference to age, paid a fixed admission fee and a fixed annual charge per share on from one to three shares, and at the end of the year a portion of the fund accumulated was divided among the heirs of those who had died in accordance ,Trith the number of shares each dead person had held. Out of tl company, with its crude and imperfect methods, .life Insurance as it exists today has grown.”—Philadelphia Record.