Life insurance in America has traditionally been dominated by mutual insurers. Twelve of the fifteen largest life insurers are mutuals. - 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 life insurance policies advertised on the radio with the line "You cannot be turned down for this coverage!" are actually saying, " For policies this small, it would cost us more to decide whom to turn down than simply to accept everybody-and make them pay through the nose."

Not surprisingly, the insurance lobby recoils in horror at the prospect of automatic coverage ( including, when it was first proposed, Social Security), no matter how efficient it may be. Automatic coverage eliminates sales commissions and profit.