The first life insurance societies where formed in England in the years between 1692 and 1720. In America, life insurance became available to the clergy through the Presbyterian Ministers Fund, founded in 1759 (still in existence), and the Episcopal Corporation, founded ten years later (subsequently merged).

Having no national system of catastrophic health insurance, we have, through the courts, managed to patch together pieces of a not very satisfactory one.

The first life insurance societies where formed in England in the years between 1692 and 1720. In America, life insurance became available to the clergy through the Presbyterian Ministers Fund, founded in 1759 (still in existence), and the Episcopal Corporation, founded ten years later (subsequently merged).

In short: Readily available low-cost life insurance would be a threat to the industry, and whatever threatens the life insurance industry threatens America.

There were no jobs created in America from 1945, when the war ended, through 2003. How could there be? Taxes were too high. Preposterously so under Eisenhower, Kennedy, Nixon, Reagan (who left office with a 28 percent rate on long-term capital gains) and Bush the Elder.

No wonder lawyers, who control the legal system, have fought so hard, and with great success, against "no fault" insurance. No fault, no lawsuits. No lawsuits, no lunch.

The industry cannot long offer unneeded or overpriced insurance if people will not buy it.