U.S. Census Bureau Daily Feature for December 15

WASHINGTON, Dec. 15, 2014 /PRNewswire-USNewswire/ -- Following is the daily "Profile America" feature from the U.S. Census Bureau:

FIRST LIFE INSURANCE POLICY

Profile America — Monday, December 15th. America's first life insurance policy issued by a general insurance company was issued on this date in 1794 in Philadelphia. The Insurance Company of North America was organized two years earlier, with a capital of $600,000. But the life insurance venture proved short-lived, as only six policies were written in five years, and the service was dropped in 1804. The Insurance Company of North America  still exists as a subsidiary of a multinational insurance group. Now, of course, life insurance is an enormous business, with some 270 million policies in force. There are nearly 10,000 establishments in the U.S. employing 370,000 people to sell and administer life insurance policies. You can find current data on the country's economy by downloading the 'America's Economy' mobile application at www.census.gov/mobile.

Sources:
Kane's Famous First Facts, 4543
Policies: http://www.statista.com/statistics/207651/us-life-insurance-policies-in-force/ 
Life Insurance Carriers/NAICS 524113: http://factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=BP_2012_00A1&prodType=table 

Profile America is produced by the Center for New Media and Promotions of the U.S. Census Bureau. These daily features are available as produced segments, ready to air, on the Internet at http://www.census.gov (look for "Multimedia Gallery" by the "Newsroom" button). 

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SOURCE U.S. Census Bureau

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