Did you know May 2 is National Life Insurance Day?
It commemorates the establishment of the first life insurance company in America in 1759. That company, supported by the Presbyterian Synods in New York and Philadelphia, was “The Corporation for Relief of Poor and Distressed Presbyterian Ministers and of the Poor and Distressed Widows and Children of Presbyterian Ministers.”1
Didn’t know that?
Well, perhaps this short quiz will be a little easier (answers at bottom) …
The world’s largest life insurance policy, $201 million according to Guinness World Records, is for a …
A. European banking official in Switzerland
B. Silicon Valley billionaire
Walt Disney used his life insurance policy to help secure funding to build Disneyland…
The cost of a 20-year, $250,000 term life insurance policy for a healthy, non-smoking 30-year-old may be …
A. More than $500 a year
B. Less than $200 a year
Before their mission, the Apollo 11 astronauts set up a cache of autographs to sell because they could not get life insurance….
Who developed the first life mortality table?
A. Isaac Newton (the gravity guy)
B. Edmond Halley (the comet guy)
Learn more from MassMutual…
Answers: B2, A3, B4, A5, B6
1 American Bar Association (The Business Lawyer magazine), "The Acquisition of a Life Insurance Company," January 1965.
2 Guinness World Records, “Mystery Billionaire takes out historic life insurance policy,” March 13, 2014. http://www.guinnessworldrecords.com/news/2014/3/mystery-billionaire-takes-out-historic-%24201-million-life-insurance-policy-56096
3 Huffington Post, “How Walt Disney Funded his Dream,” Dec. 19, 2017 https://www.huffingtonpost.com/entry/how-walt-disney-funded-his-dream_us_5a38ebc1e4b0578d1beb72a1
4 Life Happens/LIMRA, “2017 Insurance Barometer,” 2017. (Actual cost: $160)
5 NPR, “What the Apollo Astronauts Did for Life Insurance,” Aug. 30, 2012, https://www.npr.org/sections/money/2012/08/30/160267398/what-the-apollo-astronauts-did-for-life-insurance
6 Journal of the British Astronomical Association, “Edmond Halley, Scientist,” August, 1985. http://articles.adsabs.harvard.edu/cgi-bin/nph-iarticle_query?1985JBAA...95..193H&data_type=PDF_HIGH&whole_paper=YES&type=PRINTER&filetype=.pdf