Legislation authored by Brandeis that created Savings Bank Life Insurance of Massachusetts was signed into law 100 years ago today by Massachusetts Governor Curtis Guild. Jr. At a time when life insurance was often too expensive for ordinary citizens and especially recent immigrants to afford. Louis Brandeis examined the "delivery system." as we would call it in modem parlance. and concluded the Commonwealths mutual savings banks could best fill this unmet need by selling life insurance policies directly to their depositors. Now. of course. financial services companies routinely offer banking and insurance products. but in 1907. this was a bold experiment.
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