Father of Life Insurance - Elizur Wright
Elizur Wright (born on 12 February 1804), an American mathematician and abolitionist is described as the father of Life insurance as he campaigned that life insurance companies must keep reserves and provide surrender values. Elizur Wright (1883) Graduated from Yale university in 1826, he spent his early life being a Mathematics and Natural philosophy professor. Apart from his love for mathematics, he believed that slavery was immoral and ineffective and should immediately be abolished. Along with other like-minded individuals, Wright founded the American Anti-Slavery Society in 1833 with the aim of espousing immediate abolition of slavery. The organization later on began to fall apart due to ideological differences among members. Wright eventually became estranged from the abolitionist movement due to lack of support and became interested in life insurance as a mathematical study. As a matter of facts Wright read “the best works on life insurance.. with the same ardor which ...