Today on Days to Remember we celebrate the first life insurance policy issued to a woman on November 19th 1850, by the name of Carolyn Ingraham who bought the policy at age thirty six in Madison New Jersey.
What is a Life Insurance Policy any way?
Insurance began as a way of reducing the risk to traders, as early as 2000 BC in China and 1750 BC in Babylon.
An early form of life insurance dates to Ancient Rome; “burial clubs” covered the cost of members’ funeral expenses and assisted survivors financially.
Modern life insurance policies were established in the early 18th century. The first company to offer life insurance was the Amicable Society for a Perpetual Assurance Office, founded in London in 1706 by William Talbot and Sir Thomas Allen.
As ridiculous as this may sound to you during the 1800’s Life Insurance Policies were only offered to men, until November 19th 1850 when Carolyn Ingraham was allowed to buy one for herself, which is why I decided to write today’s story.
Written & Designed by JD Mitchell