MTHEL131 Lecture Notes - Lecture 1: Life Insurance, Black Death
20 Jan 2020
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Document Summary
London 1757, petition in front of the british parliament that lead to the founding of the first life insurance company (protection from unexpected deaths that causes poverty/distress). Presently, families have two or more incomes (both parents) if one dies, income is cut and so is quality of life. Life insurance is a risk management tool. Top 3 nancial concerns of canadians: dying too soon, living too long (bank account die before you die), becoming seriously ill or disabled (can"t work). *these problems can be addressed by the life & health insurance industry. 1583, richard martin (business man, elected of cial for the city of london) Righthand man, william gybons, was the one who contributed immensely to his success. If he died he would suffer a nancial loss and will have to spend less time in the country club. He calculated that if gybons dies, he would lose 383 pounds.
