Last week I said I would answer the questions
Who invented Life insurance?
When was it invented?
We do not have a winner but I promised you the answer so here goes.
Life insurance was invented about 1500 years ago!
It was invented by the Romans!
The purpose then was the same that it serves today!
It helps a family pay for the burial of a loved one and it also provides some financial help for the family of the deceased!
The past is our best teacher!
Do you have enough Life insurance?
Is the policy going to last as long as you do?
I started working with a client in late July. He wanted $250,000 in coverage. At the time he was insurable although he was rated sub standard. The client dragged his feet until late August where he ended up in the hospital for about one week. Today and for at least the next year he is basically uninsurable and could not get even $50,000. If he wants to buy now he will pay several times more for $50K than he would have had to pay to get $250K if he had signed the contract in July.
Is there a moral here? Of course there is! Are you adequately insured?
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