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 received a $50,000 life insurance payout ($1.3m today).

Meanwhile, the family of Herbert F. Chaffee received 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 insurance policies, conditions and exclusions will apply

Catch up on our other blog posts:

MORTGAGE LENDING CONTINUES TO SOAR

MORTGAGE LENDING CONTINUES TO SOAR

Mortgage lending has soared to record levels, according to latest data from the Bank of England1, which reveals that gross advances in Q1 totalled £83.3bn, which represents a 26.5% increase on the same quarter in 2020 and the highest level since Q4 2007. Impact of the...

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