In short: Readily available low-cost life insurance would be a threat to the industry, and whatever threatens the life insurance industry threatens A… - Andrew Tobias

The first known life insurance contract was written in 1536 on the life of a British merchant, William Gybbons, for a term of one year. Gybbons died shortly before the policy was to expire, but the insurers refused the claim. They held that that Gybbons had indeed survived "twelve months" - twelve lunar months (of 28 days). The insurers were taken to court and ordered to pay.

The industry cannot long offer unneeded or overpriced insurance if people will not buy it.

The life insurance industry is filled with good people who believe in their work and their companies, but who may never have challenged the assumptions underlying their efforts.