Life Insurance 101

Max Kirouac - Oct 20, 2021

Human beings, like all living organisms, are vulnerable to a risk that we eventually fall victim to: mortality. This risk is more acute when there are others who depend on you for their livelihood. In the animal kingdom, this takes the form of baby birds relying on their mother for nourishment and protection. Among people, the reliance is generally financial. The idea of a social safety net is a relatively new concept; with limited employment opportunities for women in the past, the wife and children of a prematurely deceased husband were often condemned to a life of poverty unless they could rely on the goodwill of family or neighbours. This was the case until the middle of the 18th century, when human ingenuity and the understanding of a new discipline of study led to a solution for this problem. That solution was life insurance.

Read more