When Was The First Life Insurance Policy Issued? 
The oldest life insurance policy for which there is surviving evidence was taken out on William Gybbon on June 18 , 1583 , in London . Mr. Gybbon was a salter of fish and meat for the city of London . He bought a one year policy from Alderman Richard Martin and passed away before the end of the year . At first the company refused to pay , but after some legal wrangling , Martin won . 