Life Insurance and George Washington’s Statue

February 19, 2020 by Thomas Jefferson

George Washington was the founding president of the Society of Cincinnati, which started out serving as, among other things, a fraternal benefit society for Continental Army officers.

He himself used his own resources to provide annuities, including an annuity of 50 pounds per year, or the equivalent of about $5,000 per year in 2020 dollars, to support a school in Alexandria, Virginia.

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Originally Posted at ThinkAdvisor on February 17, 2020 by Thomas Jefferson.