On the heels of Memorial Day in May and Flag Day in June, July is the month of patriotism since the 4th is the day we celebrate the birth of our country as a nation, independent from English rule.
Even though our break from the British Empire came in 1776, Insurance was sold in the Colonies as early as 1735 in South Carolina. In 1772 Benjamin Franklin along with more than 70 business owners formed a mutual company called “The Philadelphia Contributorship for the Insuring of Houses from Loss by Fire.”
We know from a previous post that Medicare was enacted in 1965, but did you know Life Insurance was established in the 1760’s? The Presbyterian Synods (an assembly of the clergy and sometimes also the laity in a diocese or other division of a particular church) created the “Corporation for Relief of Poor and Distressed Widows and Children of Presbyterian Ministers” in 1759 in New York and Philadelphia which was duplicated by Episcopalian priests in 1769. Auto insurance came about in 1897, health insurance in the 1920’s and home policies in the 1950’s.
So, how does Insurance and Patriotism go together?
Men and women show patriotism to our country in many ways–first and foremost by being a law-abiding citizen, going to work, paying taxes and serving in our armed forces. But what about patriotism to their families? Families are the backbone of our communities which are the backbone of the states, which, in turn, are the backbone of country.
Patriotism to the family and the sense of security that implies, is analogous to the security of our nation the armed forces provide.
Insurance was one of–if not THE–strongest and most solvent industries providing stability during the Great Depression. Life insurance offered much needed cash liquidity to policy holders, whereas banks closed their doors. Because state regulations prohibited insurance companies from investing in the stock market, they were impervious to the crash in 1929, thereby becoming the bulwark of family security and financial protection during the worst of times.
Though an intangible product—unseen, unheard, and hopefully, unused—life insurance makes a man a gentleman and a hero, a woman a lady and a heroine, when their families have been provided the security of the executive decision of providing for their survivors at the worst and most unexpected times.
Like our armed forces, we hope not to invoke this protection. And, like our armed forces, we must be constantly vigilant and ready when the time comes.
This is how Patriotism and Insurance go hand in hand.
Until text time, take care and remember…. As strong families protect our nation’s interests, life insurance protects the interests of keeping families—like our nation—financially solvent, secure in emergency, and free from fear.
Tommy Curtis and Staff
Is an insurance agent with integrity and your best interest in mind. Call to speak directly to him.
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Lake Charles, LA 70601
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