Business Disability Insurance
A Largely Untapped Market
Business Disability Insurance was conceived and came alive at the Purdue University Life Insurance Marketing Institute in 1957. Under the banner of “The Advanced Accident and Health Underwriting Seminar,” high ranking insurance executives, esteemed college professors from highly respected business schools, prestigious general agents and managers of life insurance companies gathered to examine the potential for business uses of disability insurance.
Petersen International was there. We were instigators, promoters and participants.
A ground swell of interest ensued. The concepts developed at Purdue were exposed in insurance journals. Speakers at industry gathering chose BDI for their subject. Two books were quickly published on BDI. Following the meeting prototype developed at Purdue, similar seminars were established at major universities, Michigan State, Florida State, Notre Dame, Tulane and USC.