when did the first independent life insurance agents come ab

Posted: Fri May 15, 2009 07:12 am Post Subject:

I know this is a strange question but believe it or not I need to know...

Posted: Sat May 16, 2009 01:37 am Post Subject:

darnardo

I just have to know

believe it or not I need to know...

Posted: Sun May 17, 2009 08:34 am Post Subject:

when did the first independent life insurance agents come about?

Posted: Mon May 18, 2009 01:19 am Post Subject:

Well after much research on the issue I came up with an answer. Each insurance product originated its own channel. For example agents for annuities originated well before agents for life insurance products. Modern life insurance agents (captive agents) came around in 1870 (w w.iii.org/media/hottopics/insurance/distribution). The first independent agents (PPGAs) came about in 1974 in the US by Allstate.

Did you know the first life insurance products in the US were put on slaves? Although many will argue this was PC insurance and not life insurance.

Posted: Mon May 18, 2009 05:41 am Post Subject:

For example agents for annuities originated well before agents for life insurance products.

History & Concepts:

The basic history and concept of annuities goes back a very long time; back to the year 47 BC and the Roman Empire. They were the inventors of annuity plans and the first society to implement the concept. The average life expectancy in those days was a young and tender age-27, meaning 50% of people lived longer and 50% shorter. The main occupation of young men who were part of the Roman Empire was soldiering as the Romans were the great conquerors of the time and ruled most of the known world of that period. Keep in mind it was a very different world back then. One that we have a hard time imagining today as their were Kings and Queens that were sometimes only 14-years old and people married and started having children at a much younger age than we are accustomed to today.

Posted: Mon May 18, 2009 10:20 am Post Subject:

Okay Darnardo, the way independent agents have become a part of the insurance business that we never speared a thought when and how they originated. We actually believed that they were there since the beginning of the insurance business. I must thank you for doing such a research and also thanks for sharing the information with us.

Posted: Tue May 19, 2009 05:19 am Post Subject:

Gary,
Did you actually read that it was "Roman Citizens" or did you assume that?
The reason I'm asking is that I had read some time ago that it was the soldiers that got the annuities. Now, from that I assumed it was the soldiers and only the soldiers that had access to this.
I do know that's how the wife of a soldier continued to get money. I think it was used as an enticement for men to join the Roman Army.

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