History of Insurance - Fire Insurance & Emergence of Insurance to America

Fire and Plague
In 1666, the great fire of London destroyed around 14,000 buildings. London was still recovering from the plague had that ravaged it a year earlier, and many survivors found themselves without homes. As a response to the chaos and outrage that followed the burning of London, groups of underwriters who had dealt exclusively in marine insurance formed insurance companies that offered fire insurance. Armed with Pascal's triangle, these companies quickly expanded their range of business. By 1693, the first mortality table was created using Pascal's triangle and life insurance soon followed.

The Slow Exodus to America
Insurance companies thrived in Europe, especially after the industrial revolution. In America, the story was very different. Colonists' lives were fraught with dangers that no insurance company would touch. As a result of lack food, wars with indigenous people and disease, almost three out of every four colonists died in the first 40 years of settlement. It took more than 100 years for insurance to establish itself in America. When it finally did, it brought the maturity in both practice and policies that developed during that same period of time in Europe.

Source:  Andrew Beattie is a managing editor and contributor at Investopedia.com.

COVERAGE CHOICES - Life Insurance Ontario by Smart Term Life Insurance - FAQ - SmartTerm.ca

What is the right choice for you? Listen to our Frequently Asked Questions Series video.

What Is The Smart Term Calculator?

Find out more about this question from our Frequently Asked Questions Series in the YouTube video below.  If you have any further questions, please contact SmartTerm Life Insurance today at 1-866-699-TERM (8376). Our agents will be happy to assist you.

Will You Sell My Personal Information?

Privacy is an important issue for us at SmartTerm.  Watch the YouTube video to hear what we have to say about this.  If you have any further questions, please contact SmartTerm Life Insurance today at 1-866-699-TERM (8376). Our agents will be happy to assist you.

Radio Commercial For Smart Term Life Insurance

SmartTerm Life Insurance has assembled some of our Frequently Asked Questions for you to peruse, We have recorded them for your convenience and placed them on YouTube. Please click below for a quick tutorial. If you have any further questions, please contact SmartTerm Life Insurance today at 1-866-699-TERM (8376).  Our agents will be happy to assist you.

http://www.youtube.com/watch?v=1IZret89BeM

Smart Term Calculator

What are you waiting for?

First Name

Last Name

Phone Number

Email