In one form or another, life insurance has been with us for more than two millennia. The Romans first started with funds to help pay for funerals and merchants through the centuries have been pooling money to pay for lost ships and their cargoes. The breakthrough came in England under King Charles who was worried about the spread of disease and decided to set up proper registers for births, marriages and deaths. Within just a few years of operation, the first life insurance policies were on sale.
Today, the insurance industry has been through mergers and consolidations as laws have changed, and automation has enabled companies to do more with fewer people employed. Today insurance is more profitable than ever as people live longer and pay more into their policies. This infographic looks at the history of life insurance.
Co-founder and Vice President of SearchRank, responsible for many of the day to day operations of the company. She is also founder of The Arizona Builders’ Zone, a construction / home improvement portal.
