Profile America — Wednesday, May 23rd. Many things we take for granted in the current U.S. actually had their beginnings in Colonial America. Life insurance is one. While sources vary as to the exact beginning date, it appears to be between 1759 and 1761 in Philadelphia. The first known life insurance company was called the Corporation for Relief of Poor and Distressed Widows and Children of Presbyterian Ministers. Given the time and location, it should not be surprising that Benjamin Franklin was involved in setting up the business. Now, there are 946 life insurance companies in the U.S., with nearly 300 million policies in force. Profile America is produced by the U.S. Census Bureau: Measuring America—People, Places, and Our Economy.
Sources: 440 International Calendar of Events, Those Were the Days Statistical Abstract of the United States 2012, t. 1220, 1221
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