Life insurance in America has traditionally been dominated by mutual insurers. Twelve of the fifteen largest life insurers are mutuals.
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Chapter 3, You Can't Tell the Players, p. 39Andrew Tobias
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The first known life insurance contract was written in 1536 on the life of a British merchant, William Gybbons, for a term of one year. Gybbons died shortly before the policy was to expire, but the insurers refused the claim. They held that that Gybbons had indeed survived "twelve months" - twelve lunar months (of 28 days). The insurers were taken to court and ordered to pay.
Andrew Tobias
The larger the deductible you choose, the less insurance you are buying. Insurers want to sell insurance.
Andrew Tobias
The first life insurance societies where formed in England in the years between 1692 and 1720. In America, life insurance became available to the clergy through the Presbyterian Ministers Fund, founded in 1759(still in existence), and the Episcopal Corporation, founded ten years later (subsequently merged).
Andrew Tobias
In short: Readily available low-cost life insurance would be a threat to the industry, and whatever threatens the life insurance industry threatens America.
Andrew Tobias
The first American insurance company was the Friendly Society for the Mutual Insurance of Houses Against Fire, founded in Charles Town in South Carolina, in 1735.
Andrew Tobias
Tobias, Andrew
Tobin, John
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