A recently published article on InsuranceAgents.com reveals to readers the history of life insurance and how it came to be where it is today.
Online PR News – 14-October-2009 – – For many, understanding the origin of a topic helps them better understand its importance today. Educational systems typically don’t teach where life insurance originated from, but a recently published article on InsuranceAgents.com reveals to readers the history of life insurance and how it came to be where it is today.
One of the oldest types of insurance, life insurance has served many roles throughout its lifespan. “[It] stems from the old principle that if a villager’s home was damaged or burned down, the other villagers would lend a hand to rebuild the house,” the article, Whole Lotta History: A Look Back on Life Insurance, reveals. “Lorenzo Tonti, a 17th-century Italian-born banker, then created a concept known as the tontine annuity system. Under this system, groups of individuals were formed without any reference to age, and each member contributed to a fund that was eventually established. The sum was then invested and by the end of the year, the interest was split evenly among the survivors.”
While the benefits of a life insurance policy have evolved over the centuries, today’s policies offer policyholders some very attractive features. Not only will a quality policy help pay off your outstanding debts, including your mortgage, school loans and credit cards, but it will also fund your or your children’s education and future expenses.
Although the thought of obtaining life insurance can make some people a bit uncomfortable, there are ways to get around that. “Keep in mind that life insurance is not for you, but rather for your survivors,” the article emphasizes. “It’s always better to be safe than sorry, so contact a life insurance agent today to ensure your family doesn’t suffer financially from your death.” Compare life insurance quotes from up to five local agents today.
Staff contribution: Rafael Onak