“The first known life insurance contract was written in 1536 on the life of a British merchant, William Gybbons, for a term of one year. Gybbons died shortly before the policy was to expire, but the insurers refused the claim. They held that that Gybbons had indeed survived "twelve months" - twelve lunar months (of 28 days). The insurers were taken to court and ordered to pay.”

— Andrew Tobias

Source: The Invisible Bankers, Everything The Insurance Industry Never Wanted You To Know (1982), Chapter 7, The Battle II, p. 112.

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Andrew Tobias19

American journalist 1947

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