MTHEL131 Lecture Notes - Manulife, Confederation Life, Life Insurance
11 May 2013
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First life insurance petition founded in london, england in 1757. Made so that families can continue to have money if the bread winner dies prematurely. The 3 main financial concerns for canadians are: dying too soon, living too long, [sept. 14, lecture 1] 1 and becoming disabled/ill. Most families in canada have 2 incomes: mom and dad. Families spend 100% of their income to support their lifestyle. The ultimate being out of work is dying. People don"t want to live to see their investment account run out of money before they die. 1583 london, england: richard martin of london takes out 1st life insurance policy, on. Richard martin had a really hard working employee williams gibbons. Richard came to realize that williams may die someday. Discovered he would lose 383 if williams died. Made a wager with some friends in country club that if williams died in 12 month, the friends would give richard 383.
