1949 Insusurance

Of the many developments in the field of life insurance and affiliated coverages marking the year 1949, the most important was the impetus given to the growth of group insurance and pensions in industry by unions. Also figuring prominently was the extension of nonoccupational disability benefits, commonly referred to as 'cash sickness' benefits. Two inquiries into life insurance were made by Congress, one relating to investments of life companies and the other seeking to ascertain whether the larger companies were exercising too much power because of their size, the advantages given them by very large home-office staffs and the large volume of their writings and financial operations.