10 Facts about Life Insurance You Never Knew

10 Facts about Life Insurance You Never Knew

While doing a bit of research I found 10 fun facts about life insurance that I never knew. As the expression goes “truth is stranger than fiction”. Enjoy.


  • A French man, by the name of Max Herve-George, has an insurance policy that lets him trade stocks based on last week’s prices. It has been called the stupidest contract ever signed, and may end up with him owning the insurance company. —Forbes


  • The Apollo Astronauts, unable to qualify for life insurance and not insured by NASA, resorted to ‘insurance autographs’, signing just before launch in the expectation that the value would skyrocket in the event of their deaths.—NASA


  • Ronald Clark O’Bryan’s name may have faded from popular memory, but on Oct. 31, 1974, the country was shocked and he earned the nickname “The Man Who Killed Halloween.” He fed his 8 year old son, Timothy, trick-or-treat candy laced with cyanide. He stood accused of staging the crime as part of a life insurance scheme.—Houston Chronicles


  • Believing that life insurance was seen as not trusting in God, and viewing social security as a form of old age and survivors insurance, the Amish refuse to pay life insurance premiums or accept the benefits of social security. –Amish Country News


  • Many Americans who need mental health services never get it because doing so could disqualify them from purchasing life insurance. –Psychological Solutions LLC


  • The Turkish government attempted to recover life insurance benefits for the Armenians it killed during the Armenian Genocide with the argument that there are no identifiable heirs left to collect.—Wikipedia


  • Japanese life insurance will pay, even if you commit suicide. Therefore motivating people to kill themselves, so their family can live in comfort. One of many reasons for the high suicide rate in Japan.—FIHS Organization for Suicide Prevention


  • Insurance companies don’t automatically know when someone dies. As a result, there is over $1 billion in unclaimed death benefits. In order to receive your death benefit, it is the beneficiary’s responsibility to contact the insurance company and notify them of the insured’s death. When you do, be prepared to fill out some paperwork and provide a certified copy of the insured’s death certificate.—LIMRA


  • In 2013, Life Insurance companies paid over $548,000,000 in death benefit claims—LIMRA


  • The first life insurance policy ever known to be written was denied a death claim based on a lunar calendar year versus a calendar year. Even over 400 years ago, there were always loopholes in insurance policies. —Wikipedia


I couldn’t resist one last insurance fact, not life insurance related, but a good one.

  • Now the weirdest Insurance ever purchased! – Rocker David Lee Roth of Van Halen had his sperm insured for a million dollars! If any paternity suits were filed against him because of ROCK ‘n’ ROLL life style, the insurance company would pay the charges! —Lloyds of London


And now you know…

Image by Phil_Bird at www.freedigitalphotos.net


Tim Wilhoit is owner/principal of Your Friend 4 Life Insurance Agency in Nashville, TN. He is a family man, father of 3, grandfather of 2, entrepreneur, insurance agent, life insurance broker, employee benefit specialist, salesman, sales trainer, recruiter, public speaker, blogger, author and team leader with over 30 years of experience in sales and marketing in the insurance and beverage industries.

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