MTHEL131 Lecture Notes - Life Insurance, Mutual Organization, Manulife
3 Dec 2013
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Petition suggested purchasing life insurance incase a loved ones death which would cause great poverty. Asked for opportunity to form a company to sell such insurance. There were no other strategies to protect loved ones if such a thing would occur: primary motivation to buy life insurance has not changed since the original. Most people are still living pay-check to pay-check. Three primary financial concerns of canadians today are; fear of money income when retired (pension), fear of dying too soon and not leaving money for loved ones (life insurance), fear of becoming disabled or seriously ill. Richard martin, successful business man, enjoyed spending time at his country club with his boys. He was quite different from other members of the club, they had inherited their wealth whereas martin had earned his money. He was able to spend so much time at the club because he has given his manager quite a bit of responsibility.
