Who Created Whole Life Insurance? 
The Equitable Life Assurance Society , the world 's oldest mutual insurer began issuing policies in the mid 1700 's . I do n't know that there was one person in particular . I would say for anything resembling current methods -LRB- ie use of mortality table , etc -RRB- it could probably be contributed to Blaise Pascal as right around that time he was bringing actuarial mathematics into the forefront . Much of that type of work would have been necessary to determine probabilities and other info needed to underwrite and insure based on actuarial data . 