What Do You Know About the History of Life Insurance?

Life insurance is an essential part of caring for your loved ones after you’ve passed away. If you live in the Baraboo, WI, area and have questions about life insurance, the team at Johnsen Insurance is ready to help answer them. Many people get life insurance to provide a legacy for their families. Other people get life insurance because they own a business and want to help keep it open and running. 

The History of Life Insurance 

If you want to discover more about life insurance, you may like to learn more about the story of its history. According to Ethos Life, the first uses of life insurance can be traced to a Roman general named Gaius Marcus, who began a burial club for his fellow generals. In Ancient Greece and Rome, during the periods of 600 to 100 BCE, there is evidence of health and life insurance being available to some citizens. Although these policies were first available only to soldiers, the idea soon spread throughout the area. 

One of the most well-known International instance companies is Lloyd’s of London, which opened in a small English coffeehouse in 1688. The Presbyterian church administered the first life insurance companies in the U.S. Many Catholic priests campaigned against life insurance, which they saw as gambling. According to the Insurance Information Institute, the life insurance industry is currently valued at over $1 trillion in the U.S. 

Call Us today for a Life Insurance Quote. 

Life insurance is an excellent way to pass your legacy on to those who outlive you. At Johnsen Insurance Company, we’d like to help you care for your family’s future. Our agency was opened in 1965 by our founder, Wilbur Johnsen. If you live in the Baraboo, WI area, call us today for a quote and get the right life insurance policy to fit your needs.