What is National Life Insurance Day – May 2?
National Life Insurance Day, the first day that life insurance became available in the United States, takes place each year on May 2nd. The observance also raises concerns about the benefits of life insurance.
Life insurance in the United States began in the late 1760s. In 1759, the Presbyterian Synods in Philadelphia and New York City established the Corporation for the Relief of Poor and Distressed Widows and Children of Presbyterian Ministers.
The charter for the Corporation for the Relief of Poor and Distressed Widows and Children of Presbyterian Ministers was published 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 a loved one's time to grieve. It can also pay off debts and loans, giving surviving family members the opportunity to start with a clean slate. Families can live in their homes and pre-fund a child's college education with Life insurance. Life insurance will enable families to keep the company in the event of an untimely death if they own a business. It also provides a family with a source of income for a period of time.
How to celebrate #lifeinsuranceday
