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Which was the first company of the world which started insuring human life?

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Which was the first company of the world which started insuring human life?
posted Sep 20, 2016 by anonymous

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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.

Amicable Society for a Perpetual Assurance Office

The first plan of life insurance was that each member paid a fixed annual payment per share on from one to three shares with consideration to age of the members being twelve to fifty-five. At the end of the year a portion of the "amicable contribution" was divided among the wives and children of deceased members and it was in proportion to the amount of shares the heirs owned. Amicable Society started with 2000 members.
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Source: Wikipedia

answer Sep 30, 2016 by Ramesh Gowda
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