Life insurance is a booming business. The first insurance company in the United States was formed in 1732 in Charleston, South Carolina. This company only provided fire insurance. Today, more than 150 companies offer life insurance of various types, catering to the diverse needs of an individual or family.

Metropolitan Life Insurance Company, or MetLife, is the largest life insurance company in the United States. It has acquired Traveler’s Life and Annuity, General American Insurance and New England Financial.

The New York Life Insurance Company was formed in 1841 in New York City. It was called The Nautilus Insurance Company. It is currently the largest mutual life insurance company in the United States.

The New York Life Insurance Company is known as the company of the former. It was the first insurance company to insure people with disabilities. It was the first American life insurance company to pay a cash dividend to policyholders. It was also the first Insurance Company to issue policies for women with the same rates as for men.

One must do extensive research before settling on a life insurance policy. Confirm that the premiums are guaranteed and will not increase over time. Also, verify that the life insurance policy has a terminal illness rider. One of the most important things in a life insurance policy is whether the premiums can be waived.

If the buyer or policyholder becomes too sick to work, the company may waive future premiums. Also, background research should be done on any life insurance company being considered.

All the major life insurance companies have an online presence. It is suggested that you check these sites and get several quotes before you decide which company to go with.