What is National Life Insurance Day?
National Life Insurance Day is celebrated on May 2nd. This day marks the introduction of first day life insurance in the United States.
The charter was approved by the Corporation for the Relief of Poor and Distressed Widows and Children of Presbyterian Ministers on May 2, 1759. In 1769, Episcopalian priests established a similar relief fund. More than two dozen life insurance companies were established between 1787 and 1837, but only about half of them survived.
People can do some really amazing things for people with life insurance. It will take time for loved ones to grieve. It can pay off debts and loans, giving surviving family members the opportunity to start fresh with a clean slate. It can help families stay in their homes and pre-fund a child's college education. It will keep a family's company alive. It will provide a family with a steady source of income for a period of time.
