According to news sources, a total of $3,464,111 was paid out to grieving families after the 'unsinkable' Titanic hit an iceberg in 1912.
The beneficiaries of businessman John B. Thayer were awarded a $120,000 accident insurance payout (around $3.2m today), while his wife recieved a $50,000 life insurance payout ($1.3m today).
Meanwhile, the family of Herbert.F Chaffee recieved a staggering $146,750 on his life insurance policy. Worth around $3.9m in today's money, it was the largest payout of all those who died.
Just as nobody expected the Titanic to capsize, recent events have shown that things still happen today that take us by surprise - proving that life insurance is still as necessary now as it was in 1912.
As with all life insurance policies, conditions and exclusions will apply.
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Simmonds Mortgage Services is an appointed representative of Stonebridge Mortgage Solutions Ltd and can source the most appropriate cover from its panel of insurers with a free review of you overall protection and insurance needs. As with all insurance policies, conditions and exclusions will apply.