National Life Insurance Day

Life insurance can relieve some struggles of the cost of funeral and burial expenses, remaining medical bills, or other costs that may be incurred at the end of life. Although no one ever wants to need life insurance, sadly, it is needed by people every day. Buying and maintaining appropriate life insurance policies is a kind way that people can protect themselves or their family members from financial burdens when death occurs. 

National Life Insurance Day is observed as a reminder for every individual to consider the insurance needs of themselves and their families.

History of National Life Insurance Day

It might be difficult to believe, but some early forms of life insurance have been around since the days of Ancient Rome. In more modern days, the earliest known life insurance policy was made in 1583 by the Royal Exchange in London, England. But even for years after this, most people had to absorb the financial burden if a loved one passed on.

In the early 1700s, support for widows became more common through organized funding, and the concept of life insurance evolved even more. Since then, life insurance developed and the field more regulated, including actuaries, mutual insurance, organizations and much more.

National Life Insurance Day was first celebrated in 2014 when it was founded by Liran Hirschkorn, an independent insurance agent. The event takes place on this date because it is the anniversary of when life insurance was first available in the colonies of the US. This happened in the 1760s – even before the United States had officially become independent.

How to Celebrate National Life Insurance Day

National Life Insurance Day is the ideal time to take a look at some different activities surrounding life insurance and make decisions, including some of these:

Buy Life Insurance

For many people, buying life insurance is a task at the bottom of a list that can be saved for another day. But honestly, buying life insurance is a vitally important thing that a person can do to honor and care for the people in their lives. And the younger a person is when they buy their policy, the more affordable the payments may be.

In honor of National Life Insurance Day, consider setting up a meeting with an insurance broker or salesperson to get more informed about what the needs might be to make sure the family and loved ones are protected if something unexpected happens.

Review Existing Life Insurance Policies

Those who made decisions about life insurance policies many years ago might take National Life Insurance Day as a time to review their policies. As situations change, economies fluctuate, children grow and older family members age, it is important to keep abreast of whether each person’s life insurance policy is up to date and effective for the times.

A few other Days of the Year that are observed along this same topic of insurance include National Insurance Awareness Day on June 28, Insurance Nerd Day on June 18 or Car Insurance Day on February 1.