How the Apollo 11 Astronauts Secured Their Life Insurance
This was the most creative way to get free life insurance
20th July 1969 is one of the significant moments in human history. Neil Armstrong became the first human to land his foot on the moon.
This successful spacecraft mission became one of the glorious events in American history. America became an unmatched winner in the so-called ‘space war’ that began in 1957 when the Soviet Union launched the first satellite Sputnik 1.
In May 1961, President Kennedy unabashedly committed to the United States about human landing on the Moon by 1970.
But before Neil Armstrong, Buzz Aldrin, and Michael Collins could take the space shuttle ‘Apollo 11’ to Moon, they had another grave problem to solve.
“They had no life insurance coverage.”
Back then, an astronaut used to earn $17,000 and a life insurance policy, would cost $50,000, an exorbitant amount to pay.
Unfortunately, an astronaut was also subjected to the General Schedule(GS) payscale and the federal salary wasn’t enough for these Apollo 11 astronauts to cover their life. Additionally, they had the responsibility of taking care of their families and their future lest something undesirable…
