" February 28, 1907 - New York Life Insurance Co. - Manchester, N.H."
(1429) February 28, 1907 - New York Life Insurance Co. - Manchester, N.H. Condition: Very Good Letterhead measures 8" by 11" and has been folded. Letter was typed and signed by J.F. Mullen, Cashier. Written to A. C. Phipps, and states that he has a grace period in which to pay his premium on his life insurance policy. The New York Life Insurance Co. was founded in 1845 and opened in New York City as the Nautilus Insurance Co. It changed its name to New York Life Insurance in 1849 and developed the non-forfeiture option, which developed the basis of guaranteed cash values found in policies today. By the mid 1800's the company had become the first American Life Insurance Company to pay a cash dividend to policy holders. In 1894 it became the first company to issue life insurance to women at the same rates as men! Susan B. Anthony was one of the first wormen to own an insurance policy and that policy came from New York Life. In 1896, the company became the first to insure those with physical impairments or hazardous occupations. Price: $7.50 + Shipping.
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