Elizur Wright

What Does Elizur Wright Mean?

Elizur Wright (1804-1885) was a famous abolitionist and mathematician who is often referred to as the father of life insurance. Wright was the original developer of mortality tables, a mathematical tool that help life insurance companies calculate premiums. Even after more than a century, life insurance companies still use mortality tables.

Insuranceopedia Explains Elizur Wright

Wright’s mortality tables are used to determine the likelihood that a given individual will die within a certain time-frame. Mortality tables can factor in a number of different variables, such as weight, gender, and smoking habit. In general, the more likely a person is to die by a certain time, based on the mortality table results, the higher their premiums will be. If a person’s risk of early death is too high, a life insurance company may refuse to write them a policy.