How Life Insurance Has Changed Through The Years

The Ryan Insurance Agency is a family-owned, independent insurance agency serving the Clarkston, MI, area. Our office has been serving families in the region for over 15 years.

As a leading insurance agency, one of the valuable products we sell includes various forms of life insurance. Although life insurance has been available in one form or another for centuries, its popularity in America is more recent.

Early Life Insurance

As the Civil War ended and modern funerals became popular, many average families could afford the several hundred dollars it took to cover the costs of final expenses. Small life insurance policies became popular, some costing just five or ten cents per week. In those days, insurance agents often went door to door, collecting these small premiums from their clients.

Rising Costs of Funerals

As funerals became more elaborate and expensive, life insurance policy limits and premiums continued to grow. Families soon discovered that a few thousand dollars was no longer sufficient to cover final expenses. Policies of $10,000 and $25,000 became increasingly popular.

Life Insurance as a Financial Tool

Families now often use life insurance to cover burial expenses and provide additional financial protection. It is also often used to cover mortgages, maintain a family’s lifestyle, and even pay for college.

Getting The Coverage You Need

If you have yet to purchase life insurance to protect your family’s future, we invite you to contact us at The Ryan Insurance Agency of Clarkston, MI. By answering just a few questions, we can provide a quote to get you started. Contact us today.