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National Life Insurance Day

Secure your future and those you love with National Life Insurance Day - get the coverage you need to ensure peace of mind!
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When it is?
May 2
Location Icon
Country
United States
Introduction

Celebrate National Life Insurance Day on May 2 by taking the time to review your life insurance policy and make sure it's still meeting your needs. This day was created to raise awareness about the importance of life insurance and how it can help protect your family in case something unexpected happens. Life insurance has been around since the 17th century, but today there are many different types of policies available that offer flexible coverage options for a variety of situations. So take some time to learn more about life insurance and find out if you have the right policy for you!

History of National Life Insurance Day

National Life Insurance Day Dates

National Life Insurance Day Timeline

<div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>1706</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>First Life Insurance Company</div><div class='timeline-text'>The Amicable Society for a Perpetual Assurance Office, the first life insurance company in the world, is established in London.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>1762</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Equitable Life Assurance Society</div><div class='timeline-text'>The Equitable Life Assurance Society was established, it was the first mutual life insurance company, offering policies owned by the insured instead of investors.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>1843</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>National Loan Fund Life Assurance Society</div><div class='timeline-text'>The National Loan Fund Life Assurance Society began offering coverage in the United States, marking the arrival of life insurance in America.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>1911</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Group Life Insurance Inception</div><div class='timeline-text'>Equitable Life Assurance of New York introduced group life insurance, shaping a new dynamic for offering life insurance to large groups and corporations.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>1981</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Universal Life Insurance Emergence</div><div class='timeline-text'>Universal life insurance emerged, offering flexible premiums and adjustable death benefits, adding a new dimension to life insurance offerings.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>2010</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Electronic Policy Trend</div><div class='timeline-text'>Life insurance companies started to use electronic applications and policies, providing customers with immediate protection and more efficient service.</div></div></div>

How to Celebrate National Life Insurance Day

<div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>1</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Review your insurance policy</h3><p id='' class='facts-text'>Take some time to review your current insurance policy. Make sure you have the right coverage for your needs and make any adjustments if needed.</p></div></div><div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>2</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Educate yourself</h3><p id='' class='facts-text'>Take some time to learn more about life insurance and the different types of policies out there. You may find that there is a better option for you than the one you currently have.</p></div></div><div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>3</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Shop around</h3><p id='' class='facts-text'>Compare different life insurance policies and rates from various providers. Don't be afraid to negotiate and get the best deal you can.</p></div></div><div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>4</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Talk to a financial advisor</h3><p id='' class='facts-text'>Consult a financial advisor to help you make the best decision for your individual needs. They can also provide insight into other ways to protect yourself and your loved ones.</p></div></div><div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>5</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Protect your loved ones</h3><p id='' class='facts-text'>Ensure that your family is taken care of in the event of your death by making sure they are covered with proper life insurance policies.</p></div></div>

Why National Life Insurance Day is Important

<div id='' class='whywelove-item'><div id='' class='whywelove-letter-cont'><div class='whywelove-letter'>A</div></div><div id='why-we-love-main-cont'><h3 id='' class='whywelove-title'>Life insurance provides financial security</h3><p id='' class='whywelove-text'>Having life insurance means that your loved ones will have the financial resources they need to go on without you if something unexpected happens. Life insurance policies typically pay out a lump sum of money after the policyholder passes away, which can provide much needed relief during a stressful time for family and friends.</p></div></div><div id='' class='whywelove-item'><div id='' class='whywelove-letter-cont'><div class='whywelove-letter'>B</div></div><div id='why-we-love-main-cont'><h3 id='' class='whywelove-title'>It helps cover funeral expenses</h3><p id='' class='whywelove-text'>Funeral expenses can be costly, but having an insurance policy in place can at least help to soften the cost burden. Any money left over from the death benefit can also be put towards other needs of the family like bills or college savings accounts.</p></div></div><div id='' class='whywelove-item'><div id='' class='whywelove-letter-cont'><div class='whywelove-letter'>C</div></div><div id='why-we-love-main-cont'><h3 id='' class='whywelove-title'>Life insurance provides peace of mind</h3><p id='' class='whywelove-text'>No one likes thinking about their own mortality, but having life insurance gives you and your family peace of mind knowing your financial future is secure. Knowing that you are taking care of all possible contingencies can make it easier to enjoy life each and every day!</p></div></div>

5 Enlightening Facts for Life Insurance Day

<div class='facts-item'><div class='facts-number-wrapper'><p class='facts-number'>1</p></div><div class='facts-core-content'><h3 class='facts-title'>Women Were Initially Denied Life Insurance</h3><p class='facts-content'>In the early nineteenth century, women were generally excluded from life insurance policies due to gender-biased views. It wasn't until 1843 that women were first allowed to purchase coverage.</p></div></div><div class='facts-item'><div class='facts-number-wrapper'><p class='facts-number'>2</p></div><div class='facts-core-content'><h3 class='facts-title'>World War II Saw an Increase in Policies </h3><p class='facts-content'>With the advent of World War II, there was a significant surge in the number of life insurance policies bought as soldiers wanted to secure the financial future of their families in case they didn't return home.</p></div></div><div class='facts-item'><div class='facts-number-wrapper'><p class='facts-number'>3</p></div><div class='facts-core-content'><h3 class='facts-title'>First Life Insurance in America Sold in 1759</h3><p class='facts-content'>The Presbyterian Synod of Philadelphia established the Corporation for Relief of Poor and Distressed Widows and Children of Presbyterian Ministers, making it the first life insurance provider in America.</p></div></div><div class='facts-item'><div class='facts-number-wrapper'><p class='facts-number'>4</p></div><div class='facts-core-content'><h3 class='facts-title'>Life Insurance Payouts are Generally Income Tax-Free</h3><p class='facts-content'>Beneficiaries of life insurance policies usually get the death benefit as an income-tax-free amount. This provides additional financial security to the beneficiaries during their time of grief.</p></div></div><div class='facts-item'><div class='facts-number-wrapper'><p class='facts-number'>5</p></div><div class='facts-core-content'><h3 class='facts-title'>Life Insurance Policies Have Faces</h3><p class='facts-content'>"Face" refers to the total amount of money the beneficiaries will receive in case of the policyholder's death. "Face amount," or "face value" of a life insurance policy, is an industry term explaining this feature.</p></div></div>

National Life Insurance Day FAQs

When is National Life Insurance Day?

National Life Insurance Day is celebrated on May 2 every year. In 2024 National Life Insurance Day will occur on a Thursday.

National Life Insurance Day Dates

Year
Date
Day

2023

May 2

Tuesday

2024

May 2

Thursday

2025

May 2

Friday

2026

May 2

Saturday

2027

May 2

Sunday

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