Neil Armstrong’s Life Insurance Came In The Form Of Autographs

Before Neil Armstrong went to the moon in 1969, he thought about life insurance and like all caring fathers, took some precautionary measures to protect his family.

Since life insurance was extremely cost prohibitive for an astronaut that might not return from his moon mission, Armstrong thought of another solution. Instead of taking out a life insurance policy, Armstrong and his fellow Apollo 11 astronauts signed a stack of “covers,” or envelopes marked with important dates. These envelopes were given to their respective families, and could be sold should they not return from their moon mission.

In 1969, when Armstrong was preparing for his moon voyage, a life insurance policy could have cost well into the thousands of dollars, according to Business Insider. At that time, astronauts were only taking home about $17,000 per year.

With all the media attention focused on the astronauts’ moon mission, there was a skyrocketing demand for signed photographs containing their autographs, according to space historian Robert Pearlman as told to NPR, making the memorabilia potentially profitable.

An autographed photo today of Armstrong in his white spacesuit typically can sell for about $5,000 at auction, according to the Houston Chronicle. With Armstrong’s death, it can be expected that signed Armstrong photos would fetch at least 30 percent more.

Unfortunately, Armstrong having difficulty affording life insurance is not unique to moon travelers. Many Americans too have difficulty affording life insurance.

Need a quote? http://www.mintcofinancial.com/quotes/whole-life-insurance-quote/

Call us at 813-964-7100

www.MintcoFinancial.com