There's an old joke that goes something like this: "What should you do if you want to make God laugh?"

In case you haven't heard it before, the answer is: "You should make plans."

Unless you know someone who believes in palmistry or that the future lies in the reading of tea leaves, you probably never met anybody who really believes that they know with absolute certainty what their future will bring.

One of the things that many people cherish above all else is being able to enjoy a peaceful state of mind. Most people want to believe that, no matter what challenges come their way they and their family will be able to come out on top in the situation.

These desires & beliefs led to the birth of life insurance.

More than seven thousand years ago, when the Chinese shipping industry was still quite young, it was relatively common for ships to be lost at sea. Since farmers relied on boats as a means of transporting their crops to other markets they insured themselves against unexpected catastrophic situations - the risk of losing everything - by spreading their crop among a number of boats.

This way if one did sink they would still be able to realize enough of a profit to feed their families and keep a roof over their heads.

In ancient Rome average citizens who did not have enough money to ensure that they could be buried when they died joined a burial club called a "Fratre". New members of the club had to pay an entrance fee, donate a certain amount of wine, and make monthly payments. These payments were made at monthly festivals where the members ate, drank, and performed sacrifices.

If a member did not pay their dues for six months they weren't allowed to make a burial claim. Additionally those who committed suicide would be buried in a separate cemetery from others in the community. Their families couldn't make claims for the financial assistance that was available to other members of the club.

Later, in the 13th century, the ancient Babylonians devised one of the earliest forms of insurance in recorded history. Affluent individuals offered a guarantee to merchants who shipped their goods that they would not lose any money if the ship sank. In return the merchants agreed to exchange a percentage of the value of their cargo for this protection.

Over the millennia these concepts developed and evolved into the type of insurance available to everyone today, no matter what tax bracket they are in. There is affordable insurance available that people may invest in to protect their families should the worst happen.

In return the people who buy insurance can sleep more easily and enjoy their peace of mind.