Life insurances in the nineteenth and twentieth centuries

The dynamic development of the life insurance came in the nineteenth century and applied not only to Europe and the US, but also Japan.  Initially developed insurance based on reciprocity, later in the forms of mutual and joint-stock companies were created. 

The development of the life insurance was halted during World War I and after it ended, it Caused a progressive inflation, Causing the Devaluation of benefits paid. Another crisis of life insurance you survivors during World War II. After the war there was a further dynamic development of life insurance, Which Influenced mana, and a very close Cooperation with insurance companies and other financial Institutions was made, it was a breaking point and a trigger to the modern insurance policies.

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The first life insurance in England

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The first known documented life insurance contract was concluded on June 18, 1583, with the Office of Insurance, based in London, and the insured was a citizen of London, William Gybbons. The agreement provides for the sum insured in the amount of 382 pounds, 6 shillings and 8 pence, to be paid in case of death of the insured within 12 months from the contract.

In the sixteenth century in England, there were concluded life insurances associated with the loans, and the amount of insurance was established in the amount of the debt. Further development of life insurance, which occurred at the turn of the seventeenth and eighteenth centuries, was highly due to the wider use of Actuarial founded the science of probability theory , also developed the first signs of mortality.

In 1699 in England, the first commercial insurance Society of Assurances for Widows and Orphans was created, which dealt exclusively with insurance in case of death. In the eighteenth century a new insurance company opened in England, but also in the USA and France. 

Advisors for life insurance

Many of you reading these guidelines reflect on the sense of buying insurance, sometimes decide to buy something cheap, the cheapest on the market to satisfy your own conscience, it is not the best solution however, a rightful protection of and the overall sum of the insurance is the right way of thinking. 

Professional insurance consultant should start a conversation by providing a financial analysis of your family, determine all your needs and look for solutions for the future, it's like a tailor, great tailors will saw up accurate dimensions, same with doctors, who will only prescribe you a drug according to your medical history. The Insurance is a very broad topic, many people feel the need to be insured but do not know exactly what the insurance demands.

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