Aetna Life Insurance
The Aetna Life Insurance Company was founded in 1853 with Judge Eliphalet A Bulkeley as the Company's first president. He had been the president of the Connecticut Mutual Life Insurance Company which was the first Life Insurance Company in Connecticut founded in 1846. The Aetna Life Insurance Company was a completely different department to the already existing Aetna Insurance but because of the name's good reputation and because of life policies that already existed under that name they didn't want to change it. The original Aetna Insurance Company was founded in 1850 and was named as such after the eruption of the volcano Mount Etna which is on the shores of Sicily.
After moving to new offices in Hungerford and Cone Streets Hartford Aetna began offering Life Insurance and by 1865 had increased its business by 600 per cent and the annual income tops $1 million. With the Company doing so well it moves on to bigger offices at 670 Main Street, Hartford but by 1888 moves to even bigger offices at 650 Main street where they stay for 42 years. The Company continues to grow offering farm mortgages, accident policies, health insurance, liability coverage and automobile insurance in 1907. By 1912 the Company formed its second affiliate The Automobile Insurance Company which included coverage for several incidents all in one policy. This was later followed to include insurance on ocean going liners. There were several people insured by Aetna who died on the ill fated Titanic.
Aetna Life Insurance celebrated its 100th anniversary in 1953 with a gala at the home office where 8,000 people attended the celebrations. The birthday cake stood over 12 feet tall and weighed more than 200 pounds. Over 40,000 sandwiches were served together with over 17,000n bottles of Coca-Cola. Everyone in America had heard the name of Aetna Insurance and festivities included a Pop Orchestra and Harry James Big Band with even Vice President Richard M Nixon adding his congratulations. In 1963 Aetna insured the first seven American astronauts making them the first spacemen ever to have individual life policies. By this time Aetna had 16,000 employees and by 1968 the Company was listed on the New York Stock Exchange.
In 2003 Aetna celebrated its 150th anniversary and begins a new era of cooperation to improve the quality of the health care system. An independent foundation was formed to focus on critical health care and a physician's advisory board. In 2004 it achieved the Best Business Turnaround and in 2008 was selected as the most admired company in health care and insurance. Today Aetna Life Insurance Company offers insurance to cover everything from life insurance, medical, disability, dental, pet, student, health expense funds, wellness products, vision, home and contents insurance and travel insurance. It offers different types of life insurance such as Universal Life Insurance, Whole Life Insurance, Permanent Life Insurance and Term Insurance. Aetna Life Insurance Company is a reputable Insurance Company that is renowned for its excellent achievements.
