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Posts Tagged ‘Life’

Term life insurance policies are very popular these days, and of course, they can provide very valuable protection at a low cost for many people. However, the problem with term life insurance is that it expires just when the covered person would find it harder to find protection, after ten or twenty or thirty years, the term life insurance expires. The theory behind term life insurance is that by that time the insured person will have less obligations, and they will have enough money saved to self insure.

However, we find many senior citizens and retired people who have not had the good fortune to be free of obligations, and with sufficient savings to cover their debts, final expenses, and other obligations. Also, by the time we reach maturity, we may also have developed more health problems. As if an advanced age were not enough, health problems may make us very tough or expensive to insure at all!

However some life insurance companies have developed senior life, guaranteed life insurance, or final expense life insurance programs to meet these needs. These are, basically whole life insurance policies. This means that the policy will stay in force as long as the policy is kept in force. A policy is usually kept in force by paying premiums, or by having the policy “paid up”. Yes, many whole life policies can be paid up over a period of years, usually ten to twenty years. In this case, an insured person can relax, knowing they will have life insurance for their whole lives, and not just for a period of years.

These type of senior life insurance or final expense policies come in two types that do not require a medical exam. For a face value that usually ranges from $2,500 to $25,000, many senior life insurance companies will offer simple issue and guaranteed issue life insurance policies. Because the face value is lower, and so the risk to insurance companies is lower, you can find some more relaxed requirements to gain affordable coverage for life insurance. Seniors can leave this money to a beneficiary, usually their spouse or children, to cover burial expenses, settle final debts, and leave some money as an estate.

Simple issue life insurance policies provide immediate death benefits. They do as health questions on the applications, but the great majority of seniors can qualify. They usually only declined applicants who have a terminal disease, or are in a nursing home. So smaller health issues will not prevent an applicant from obtaining coverage. Since the coverage is immediate, as soon as the insured person is notified that their policy has been issued, they will be covered.

Guaranteed issue life insurance policies do not ask any health questions at all! Instead they underwrite by delaying full coverage for a period of months, from 24 to 36, or 2 to 3 years. If the insured person passes away during this qualification period, they will refund all premiums with a specified interest rate. For an older individual with serious health issues, this is still a no-lose deal.

If you are an older person, or if you are concerned about paying final expenses for your parents, consider a senior life insurance policy. It will be much easier to pay an affordable monthly premiums than to come up with several thousand dollars for a burial and other expenses after the person dies.

Being in good health is an asset to an individual. And this is probably why people are always conscious of their body and overall health. Being in good health has its own set of advantages. It helps people live a long life free from ailments or illness, and this will help save money and increase their longevity. Apart from this, they can also do all the activities they enjoy with no worries.

A person suffering from back injury or infection in the eye will have to take due course of treatment. This might leave them being at the mercy of the medication all life or with some sort of handicap. Following which, they will have to make drastic changes in their lives. This would affect not only their health, but also their psychological condition. When a person is constantly ill or needs to be careful about what they eat or drink, they become frustrated. Their normal life becomes a clock work, based around pills and diet. This hampers their routine life tying them down to a specified lifestyle.

Some of the steps that every individual to follow for a healthy life are:

1. Diet:

Every individual needs to pay attention to their eating habits. It is not necessary for them to be on a diet, and not eat, but they must eat food that gives them required amount of nutrients. The food consumed should be well cooked and less fatty.

2. Exercise:

It is necessary for everyone to do some form of exercise. By walking, or working out, we help our body burn the fat and calories consumed. This will get converted into energy and help us get through the day. Another benefit of working out is losing weight and getting rid of excess fat in our body. Either start walking everyday for an hour or hit the gym and work out for an hour. Both work just as well, but make sure to not get back home and eat a lot of fatty or junk food. This will negate the effect gained through work out.

3. Medical condition:

Regular check ups are the only way we will know if our system is working smooth or there are any hiccups. If the blood pressure or cholesterol levels are high, due medication must be taken. Similarly, for other ailments too, prescribed course of action must be followed to restore good health.

Following these three simple tips will help you live life the way it was intended to be: to its fullest.

Viatical life settlements are the latest craze with investors. It seems making money off of one’s death has become even easier with viatical life settlements- and for investors it often pays out fairly well under good circumstances. But not everyone can be the winner- someone has to lose- but the question is who.

How to Profit From Viatical Life Settlements

Viatical life settlements work based on terminally ill patients. When a terminally ill patient receives the news that they are going to die within an allotted amount of time, it’s quite likely that their family will be receiving a health insurance check on their death.

But companies have found a way to get in on the money, by offering terminally ill patients cash in exchange for making the company the beneficiary of the health insurance that is collected on death. This way, the company may get a return on investment while the terminally ill patient gets extra money to enjoy their last days with.

But all isn’t golden in the equation. If everyone won in the situation, that’d be just dandy. Sadly, the family members of the ill patient will lose out on money they may need for funeral expenses and taxes. Outstanding health costs and court fees can also arise in the case of a death- all of which the family will have to pay without the help of the patient’s health insurance plan.

The viatical life settlement plan, thus, works great for patients who are responsible with their money. It enables terminally ill patients to stop paying premiums, while at the same time enabling them to pay bills and enjoy life while they can. Many life insurance policies can reach as high as $100,000 for the average consumer, so there would be plenty of leftover money for death-associated expenses.

Other forms of life settlement plans exist, yet viatical life settlements are the most popular among investors. They offer the quickest return on investment, and give good payouts and lesser risk than other forms of life settlements. (In which case other life settlements include the elderly who are of poor health, but aren’t necessarily going to become deceased anytime soon.)

A Note on Viatical Life Settlement Fraud and Risk

Viatical life settlement fraud is popular among crime rings in today’s world. Criminals may act as terminally ill patients, forging documents that state they have very few days ahead to live. When investment companies buy their plan, they make off with the money. The investors then lose the entire investment, making fraud the biggest risk on the industry.

Otherwise, viatical life settlement is a relatively risk-free business if performed correctly. Companies either tend to make a profit, or make a majority of the initial investment when the patient dies. To help their chances, companies will often pay clients much less than what the payment on death is worth.

Final Thoughts on Viatical Life Settlements

Viatical life settlements are great for investors and patients, but care should be taken so as to not put family members in a tight bind upon one’s death. It comes down to the basic reason on why health insurance exists in the first place: to help aid loved ones through the financial and emotional stress of a death in the family. Viatical life settlements, thus, should be carefully considered before impulsively accepting the check from hopeful investors.

By: Arvin Gumato Pareja, MBA

 The Strain of Stress and the Stressors of Daily Living

 Miko is 28 years old from the northern part of Akita, Tohoko, Japan whom I meet in one of my travel in a guided tour to Egypt in the summer of 2007, I found him in one corner of Nile Hilton Hotel lobby in Cairo. He wore a casual shirt without the luggage that I presume he has been a resident of the hotel for days then.  We exchange hi and hellos.

Doing nothing from the first day on my arrival, I hung around to keep familiar with the humidity pending orientation to my tour guide which was rescheduled in the evening. And to supplement each others company,  Miko was invited around.

He speaks good English, he owns a rational ways of defining the principles of economics, trading and investments which to my understanding this guy is a professional being who has a career in a corporate setting.

With bottle(s) of beer after dinner, we get along to learn and get to know each other easily.  In fact, we were the last guest to leave the Rithmo bistro @ Corniche Road that night.

The eyes are the window of our soul and feelings; be it happiness or frustration are reflected through our appearance which is called aura, I think Miko is so troubled, stressed out and felt feed up. 

The only sibling in his family, he was raised with pride and utmost focus from his strict parents. The entire village knew his progress and achievements since childhood till present.   He graduated with the highest honors since childhood move to college and completed a degree.  Employed in one of the most powerful investment house in the Capital of Tokyo, Miko does carved a colorful career that is the envy to most of Miko’s generation in his home town village.

At 26, he was to suppose to get married with career woman whom he meets up in his travel to Germany.  But pressures from familial influence, he accepted to deny his love and defy his personal desire in lieu to parental respect, “you were not raised to whom what you have become in order to be picked – and be an asset of someone else’s pride”.  The words from his parents are strong, powerful that it inculcates thru his mind, so vivid it’s memorized.

Miko’s Impasse:

Parental pressure for a student to make good in school is ideal,  however, pressures are suppose to be simplified in a manner that it will be viewed as an encouragement rather than impositions.  It is normal that parents will define the path of their siblings to be assured that a good life is certain.  But to derail ones passion, to curb ones yearning may often lead to strained disturbance that affects the human being in general.   It can deform a frame of mind, one will find difficult to trust and even suspicious to an unfamiliar person.  And this is what happened to Miko.  His life long desire is to be a woodworker (carpenter) like his great grand father who taught him the skills on how to carve a toy among others – is a fascination.  A burning desire that is so strong.  And to graduate a degree in economics and finance is far from his ideals that out of the imposition and respect to parents – completing the entire college was a stressful times in his life. 

To complete his college was not the end of his despair. In fact, right after college – he was appointed to be a part of an entity whose business interests is in the areas investment banking. 

Day in day out – Miko responded the call of his duties as a professional with utmost impartiality despite the fact that carpentry was his first choice, building a career in his present employment is a no where to go to please his parents. The values of loyalty make him cling to his employment for the last five years.  In terms of performance, time and again there were promotions, recognitions, rewards and all to justifying his human resource value in the company.  Known as the powerhouse go getter, whose persuasion is trusted by the entire organization.  Until one day, Miko’s life dealing his career has stopped to revolve, like a balloon burst into helplessness, shying away from the tight world competition he use to victor at all time.

Until one day, he only found himself idle, empty in one corner of Egypt – far from his root hiding away, to escape from his deep frustration in life and had I not founded his weaker side – he would have ended his precious life in the summer of 2007 in the deserted land.

The Lesson Learned:

Forcing oneself to be engage in a career that one don’t find interests with can result to self obliteration, it can cause a strain to wipe out ones dream in life leading a future in gray which is a very stressful satiation.

How  To Manager Stress:

There three major ways we can deal with stress: Alter it, Avoid it, or Accept it by: building our fight, or shifting our discernment.

* Alter your life by removing the source of stress. Better planning, being more organized in your personal and family life, and becoming more efficient in your use of time are common techniques for altering stress. Have a backup plan for any emergency.

* Avoid stress by removing your self from the stressful situation, or figuring out how not to get there in the first place. Sometimes it’s okay to walk away, to let go, to say “no”, to withdraw, to know your limits so you can “live to struggle another day.”

* Accept the situation by equipping yourself physically and mentally for stress. You can build:

physical health by eating a proper diet, doing regular exercise and having regular health checkups. A body that is physically stressed because of lack of activity and poor eating habits is more likely to buckle under the additional weight of mental stress.

mental health is bolstered by (1) taking a few minutes a day for yourself to “recharge your batteries”; (2) getting clear about your own goals and priorities in life; and (3) becoming the best person you can be.

social health is strengthened by building friendships, and strengthening relationships with parents, children and/or your intimate partner.

spiritual health is especially important in times of high stress. Prayer, meditation, worship, faith and commitment can strengthen you for tough times.

When your physical, mental, social and spiritual cupboards are full, they make up a magic health capsule that will keep your stress levels in check.

Here are some other approaches to dealing with everyday stress that you may find helpful:

Take a problem-solving approach to a potentially stressful situation. Has this happened before? If so, what did you learn from it? Decide what’s the worst that can happen, and consider your options. Ask yourself: “Will I even remember this incident five years from now?”

Think about these things. Take stock of your worries and fears. Look back over the last year and see how many things you worried about that came true and how many never happened. Listen to the way you talk–to yourself and to others. Do you create unnecessary stress by over dramatizing situations and making things seem worse than they are?

Tune up your attitude. Do you dwell on criticism? Jump to conclusions? Expect the worst? Beware of negative thinking. Most stress you will experience will come from your attitude and “self-talk.”

Talk to yourself in a positive way. Say whatever helps you to calm down. “Some day I’ll laugh about this…” “things could be worse…” “this is a character-building experience…”

Pay attention to signs of stress overload. When stress is taking over our lives, we get headaches, colds, have indigestion, don’t sleep well, act cranky and often feel angry. This is the time to look for patterns of stress in your daily life and try to get rid of them.

 

 

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Nowadays we all are very keen to earn more and more so that we can give our loved ones all the luxuries possible. For this, sometimes we have to work overtime or we may even have to work in two shifts and there are many more ways where we can earn money. But how many of us consider that due to the objective of earning more money in less time, we are avoiding our health. We cannot give proper time to our selves due to lack of time. We rush towards our office or any other work place without our breakfast because we are getting late. After a few hours, we realize that we are hungry and then we order for some pizzas or burgers. Our eating habits get disturbed due to a great extent. While sitting in the office and eating we cannot concentrate on the food also. We may be in a hurry to finish up the meal. So this way we cannot enjoy our meal also or we may gulp down the food as soon as possible so that we can finish our office work on time. This way we may get caught to various health problems. We may be a victim of obesity, hyper tension, high or low blood pressure or even diabetes. So how well are we prepared to fight against these diseases? In one place we are trying to earn more and more for our family and on the other hand, we are neglecting our health. What if we are targeted with one of these diseases or any other disease? Can we afford to take proper treatment in this era where the medicine and the hospital expenses are soaring high? Are we insured? Did we ever think that we might have to face all these problems in the enthusiasm to earn more money? Well, I have a solution to all these problems. The solution is very simple if you understand it properly. Simply invest in the health insurance policy and remain calm because all the expenses spent on the treatment will be maintained by the insurance company. We need not have to worry about that. But before investing, we should make sure that we understand the particular policy which we have to invest in. Only then we will be able to relax peacefully at least from one tension.

There are many more life insurance policies from which we can assist our selves. Various policies and various schemes are available with the life insurance companies today. All differ from one another. There is a need to understand and then invest. I believe that no one knows what he can do until he tries. Once you have decided and invested in the life insurance policy, then you will experience the variation for your self. Many people believe in investing their money in gold so that they can sell it in their bad times. It is not a bad idea to invest in gold or diamonds, but investing in the life insurance policy brings cheerfulness in life and we will be benefited in many ways from them, whereas there is a saying that an inch of gold will not buy an inch of time.

Who is allowed to take out a life insurance policy on my life?

The only individual who can buy a life insurance policy on your life is someone who has an actual “insurable interest” on your life. A stranger is not allowed to purchase a life insurance policy on your life.

Individuals who typically have an insurable interest on someone else’s life are family members (immediate family), employers, business partners, or major creditors.

Do my beneficiaries have an insurable interest on my life?

If you purchase a life insurance policy on your own life, then you are the owner of that particular policy. You have the right to name anyone you like as your beneficiary.

How do I begin the process of applying for life insurance?

Generally, you fill out an application regarding your personal health history, age, and other information. Depending on your answers on the application, the life insurance company will determine if it wants to insure you or not.

Once the application is completed, you should make sure to review it to catch any mistakes, blank areas, or any other additional information you forgot to include. This application will become part of your policy contract down the line, and any blank spaces left on the application could run the risk of being filled in by another party.

It is always essential to be as honest as possible when filling out the application. Any factual omissions, exaggerations, half-truths, or lies could cause your policy to become void if discovered later, risking leaving your beneficiaries with nothing.

How large of a factor are my age and health status when a company is deciding to insure me?

These factors are definitely something that are taken into consideration when a life insurance company is determining if they want to insure you.

It’s true that life insurance companies generally assume risks in regards to insuring someone who is not in the ideal health condition, these companies still attempt to stack the odds as high as possible in their favor. To minimize any potential risk, insurance companies decide how much to charge the potential insured party directly depending on particular factors, such as health condition and age.

Life insurance companies use statistical measurements (“mortality tables”) to estimate how long a potential insured party will live for.

Depending on this measurement the insurance company will gauge how much to charge you for the life insurance policy and what benefits will come
along with it.

As the insured party grows older, the risk the insurance company is taking also grows, as does the cost of the policy. This is one of the main reasons why life insurance tends to be so much cheaper the younger you are. It can be difficult to secure life insurance at times if you are fairly old in age.

Life insurance companies do take other factors into consideration other than health and age, however. They also look at elements that can negatively affect a potential insured party’s life expectancy, such as personal habits, career choices, and family health histories.

Term life insurance is a life insurance which provides coverage for a limited period of time. After that period is over either he can drop the policy or he can continue the policy. If he dies during the term, the death benefit will be paid to the beneficiary. Term insurance is considered the least expensive compared to other insurance policies. Term life insurance is a temporary insurance because it does not have cash value, only death benefit. If a person does not die during the tenure, beneficiary would not receive anything and the coverage ends. If the policy holder stops paying premium, the policy lapses. A lapsed policy does not fetch any benefit. Term life insurance requires you to pay the premiums regularly to maintain policy coverage. While buying a term insurance policy just think that you will not get cash value which you may need after 10 years. So just think for a moment.

Families who have young children do need a life insurance. If both the spouses work, loss of any one income will definitely cause economic hardship like paying for the children’s education. If only one spouse is working, and he dies then to run the house, insurance is needed so that other family members do not suffer. If a person is single or do not have children then also he/she needs life insurance to protect the partner or surviving family members. Premium amount is lower compared to pure insurance. This policy will cover specific needs of the family like mortgages or needs of the children that will disappear in time. Some of the reasons why people purchase term life insurance are estate planning, standard of living will not be affected for dependents, protection of spouse until the retirement years, payment of mortgages or other debts. You can also get rider facility like child, waiver of premium or accidental death. Rider is an attachment or amendment to an insurance policy that changes the policy in some way.

Different types of term insurance are decreasing term, increasing premium term life, ten year level term life and five year level term life.  The benefit of decreasing term is that if the insuree dies unexpectedly then this policy will pay off his mortgage. Another benefit is that low premium has to be paid, which makes it an affordable policy for the buyer. Five year level term life means that the face value and its premiums are the same and upon the death of the insured within this period, the beneficiary will receive the proceeds paid by the life insurance company in one lump sum. In ten year level term life the face value and its premium are the same and the death benefit is ten years, the buyer can renew the policy upon maturity but with higher premium. In 20 year term life, the premium amount is the lowest, but it does not have any cash value. The buyer will not get anything at the time of maturity of the policy.  In California, health insurance companies are blue cross, Kaiser Permanente, blue shield, Aetna, nation wide group etc. They provide all types of insurance like health plans, dental plans, group health plans and term life insurance.

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The world of 1868, when the Metropolitan Life Insurance Company was born, was very different from the world we know today. There were no telephones in those days and no electric lights. The country had not yet been spanned by a transcontinental railroad. Records were kept in handwritten ledgers, and business letters were penned in longhand. The entire population of the United States was only about 37,000,000. The flag then carried 37 stars.

Canada at that time contained only 3,500,000 people. She had only one year earlier (1867) achieved Dominion status in the British Empire. The two countries, although their frontiers were expanding, were still largely rural. At the census of 1870, the American population living on farms and in country villages numbered about 30,000,000. Persons engaged in agriculture, forestry, and animal husbandry constituted half the total working population.

The War of the States, to be sure, was over, but the struggle had left in its wake a variety of national problems- not only political but also economic and social. The Nation was still feeling most of these with full force. For instance, greenbacks were still in circulation, and specie payment was not to be resumed until 11 years later. With the emancipation of the slaves, the labor problem reached a new phase. The Government of a now united Nation was anxious to offer its citizens fields for expansion, and through the Homestead Acts and subsequent land grants made thousands of farm acres available to pioneers.

To others more enterprising, new territories offered opportunity to exploit the resources of great plains and mountains. The primary need of the country was adequate transportation facilities, which were considered a key to further economic progress. However, all signs pointed to a great expansion ahead. The actual issues of the war itself had, for the most part, been settled. The country could now go forward to the fruitful destiny which its rich natural resources and its vigorous people promised.

Industry, commerce, and finance felt the new stimulus to surge forward. The business depression which immediately followed the close of the war proved short and was succeeded by a distinct upturn. By 1868 there was in progress a business revival which was to last five years. The Metropolitan was thus launched on a rising economic tide. Immigrants in large numbers were encouraged to come to add the work of their hands to the building of the country.

They made up a new working population, which took root, for the most part, in the cities. Crossroads were becoming towns almost overnight. Towns were swiftly growing into cities. A deeper sense of permanence colored the thoughts of the American people, who began to think in terms of a future, a home, family security. The United States was rapidly coming of age.

The class of wage earners was growing rapidly, a circumstance which, as we shall see, proved to be a determining factor in the development of the Metropolitan. As inventions multiplied and factories grew, women and children were employed in greater numbers. The acceleration of industry and of urban life accentuated the economic insecurity which many felt in their new environment.

City dwellers became conscious of the hazards of long working days, child labor, and industrial accidents. Mines and railroads and machines were being developed with consequent risk to human life. Health conditions in our cities were far from good. To provide a measure of security for this increasing urban population, life insurance and private health insurance (http://cheap-insurance-rates.com/health/) companies came into being.

The war decade of the 1860s gave opportunity for the great expansion of the life insurance and individual health insurance (http://cheap-insurance-rates.com/health/dallas.cfm) business. As a result, more than 100 companies were functioning by 1868. The New England Mutual and The Mutual Life Insurance Company of New York had already been in operation for 25 years.

In fact, when the Metropolitan appeared on the scene, there were already in existence organizations with such familiar names as the New York Life, the Equitable Life of New York, the Mutual Benefit of New Jersey, the John Hancock, the Aetna, and the Connecticut Mutual. By present standards none of these companies was large, yet in their day they were important economic enterprises. At the end of 1868 the largest of these, The Mutual Life of New York, had gross assets of more than $30,000,000 and insurance in force amounting to nearly $200,000,000.

The world of 1868, when the Metropolitan Life Insurance Company was born, was very different from the world we know today. There were no telephones in those days and no electric lights. The country had not yet been spanned by a transcontinental railroad. Records were kept in handwritten ledgers, and business letters were penned in longhand. The entire population of the United States was only about 37,000,000. The flag then carried 37 stars.

Canada at that time contained only 3,500,000 people. She had only one year earlier (1867) achieved Dominion status in the British Empire. The two countries, although their frontiers were expanding, were still largely rural. At the census of 1870, the American population living on farms and in country villages numbered about 30,000,000. Persons engaged in agriculture, forestry, and animal husbandry constituted half the total working population.

The War of the States, to be sure, was over, but the struggle had left in its wake a variety of national problems- not only political but also economic and social. The Nation was still feeling most of these with full force. For instance, greenbacks were still in circulation, and specie payment was not to be resumed until 11 years later. With the emancipation of the slaves, the labor problem reached a new phase. The Government of a now united Nation was anxious to offer its citizens fields for expansion, and through the Homestead Acts and subsequent land grants made thousands of farm acres available to pioneers.

To others more enterprising, new territories offered opportunity to exploit the resources of great plains and mountains. The primary need of the country was adequate transportation facilities, which were considered a key to further economic progress. However, all signs pointed to a great expansion ahead. The actual issues of the war itself had, for the most part, been settled. The country could now go forward to the fruitful destiny which its rich natural resources and its vigorous people promised.

Industry, commerce, and finance felt the new stimulus to surge forward. The business depression which immediately followed the close of the war proved short and was succeeded by a distinct upturn. By 1868 there was in progress a business revival which was to last five years. The Metropolitan was thus launched on a rising economic tide. Immigrants in large numbers were encouraged to come to add the work of their hands to the building of the country.

They made up a new working population, which took root, for the most part, in the cities. Crossroads were becoming towns almost overnight. Towns were swiftly growing into cities. A deeper sense of permanence colored the thoughts of the American people, who began to think in terms of a future, a home, family security. The United States was rapidly coming of age.

The class of wage earners was growing rapidly, a circumstance which, as we shall see, proved to be a determining factor in the development of the Metropolitan. As inventions multiplied and factories grew, women and children were employed in greater numbers. The acceleration of industry and of urban life accentuated the economic insecurity which many felt in their new environment.

City dwellers became conscious of the hazards of long working days, child labor, and industrial accidents. Mines and railroads and machines were being developed with consequent risk to human life. Health conditions in our cities were far from good. To provide a measure of security for this increasing urban population, life insurance and private health insurance (http://cheap-insurance-rates.com/health/) companies came into being.

The war decade of the 1860s gave opportunity for the great expansion of the life insurance and individual health insurance (http://cheap-insurance-rates.com/health/dallas.cfm) business. As a result, more than 100 companies were functioning by 1868. The New England Mutual and The Mutual Life Insurance Company of New York had already been in operation for 25 years.

In fact, when the Metropolitan appeared on the scene, there were already in existence organizations with such familiar names as the New York Life, the Equitable Life of New York, the Mutual Benefit of New Jersey, the John Hancock, the Aetna, and the Connecticut Mutual. By present standards none of these companies was large, yet in their day they were important economic enterprises. At the end of 1868 the largest of these, The Mutual Life of New York, had gross assets of more than $30,000,000 and insurance in force amounting to nearly $200,000,000.

The world of 1868, when the Metropolitan Life Insurance Company was born, was very different from the world we know today. There were no telephones in those days and no electric lights. The country had not yet been spanned by a transcontinental railroad. Records were kept in handwritten ledgers, and business letters were penned in longhand. The entire population of the United States was only about 37,000,000. The flag then carried 37 stars.

Canada at that time contained only 3,500,000 people. She had only one year earlier (1867) achieved Dominion status in the British Empire. The two countries, although their frontiers were expanding, were still largely rural. At the census of 1870, the American population living on farms and in country villages numbered about 30,000,000. Persons engaged in agriculture, forestry, and animal husbandry constituted half the total working population.

The War of the States, to be sure, was over, but the struggle had left in its wake a variety of national problems- not only political but also economic and social. The Nation was still feeling most of these with full force. For instance, greenbacks were still in circulation, and specie payment was not to be resumed until 11 years later. With the emancipation of the slaves, the labor problem reached a new phase. The Government of a now united Nation was anxious to offer its citizens fields for expansion, and through the Homestead Acts and subsequent land grants made thousands of farm acres available to pioneers.

To others more enterprising, new territories offered opportunity to exploit the resources of great plains and mountains. The primary need of the country was adequate transportation facilities, which were considered a key to further economic progress. However, all signs pointed to a great expansion ahead. The actual issues of the war itself had, for the most part, been settled. The country could now go forward to the fruitful destiny which its rich natural resources and its vigorous people promised.

Industry, commerce, and finance felt the new stimulus to surge forward. The business depression which immediately followed the close of the war proved short and was succeeded by a distinct upturn. By 1868 there was in progress a business revival which was to last five years. The Metropolitan was thus launched on a rising economic tide. Immigrants in large numbers were encouraged to come to add the work of their hands to the building of the country.

They made up a new working population, which took root, for the most part, in the cities. Crossroads were becoming towns almost overnight. Towns were swiftly growing into cities. A deeper sense of permanence colored the thoughts of the American people, who began to think in terms of a future, a home, family security. The United States was rapidly coming of age.

The class of wage earners was growing rapidly, a circumstance which, as we shall see, proved to be a determining factor in the development of the Metropolitan. As inventions multiplied and factories grew, women and children were employed in greater numbers. The acceleration of industry and of urban life accentuated the economic insecurity which many felt in their new environment.

City dwellers became conscious of the hazards of long working days, child labor, and industrial accidents. Mines and railroads and machines were being developed with consequent risk to human life. Health conditions in our cities were far from good. To provide a measure of security for this increasing urban population, life insurance and private health insurance (http://cheap-insurance-rates.com/health/) companies came into being.

The war decade of the 1860s gave opportunity for the great expansion of the life insurance and individual health insurance (http://cheap-insurance-rates.com/health/dallas.cfm) business. As a result, more than 100 companies were functioning by 1868. The New England Mutual and The Mutual Life Insurance Company of New York had already been in operation for 25 years.

In fact, when the Metropolitan appeared on the scene, there were already in existence organizations with such familiar names as the New York Life, the Equitable Life of New York, the Mutual Benefit of New Jersey, the John Hancock, the Aetna, and the Connecticut Mutual. By present standards none of these companies was large, yet in their day they were important economic enterprises. At the end of 1868 the largest of these, The Mutual Life of New York, had gross assets of more than $30,000,000 and insurance in force amounting to nearly $200,000,000.