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Life Insurance and George Washington's Statue | ThinkAdvisor
One of Thomas Jefferson's jobs was to find key person life insurance for the sculptor.
He himself used his own resources to provide annuities, including an annuity of 50 pounds per year, or the equivalent of about $5,000 per year in 2020 dollars, to support a school in Alexandria, Virginia.
He was also a famous resident of Virginia, and the first president of the United States. Thomas Jefferson worked with John Adams and others to hire a famous French artist, Jean-Antoine Houdon, to make a statue based on Washington’s likeness. Houdon started the project in 1785, by sailing to Virginia to take Washington’s measurements and create a plaster “life mask” at Mount Vernon, when Washington was 53.
Jefferson faced one important obstacle to hiring Houdon: a need to insure Houdon’s life.
One of Thomas Jefferson's jobs was to find key person life insurance for the sculptor.
He himself used his own resources to provide annuities, including an annuity of 50 pounds per year, or the equivalent of about $5,000 per year in 2020 dollars, to support a school in Alexandria, Virginia.
He was also a famous resident of Virginia, and the first president of the United States. Thomas Jefferson worked with John Adams and others to hire a famous French artist, Jean-Antoine Houdon, to make a statue based on Washington’s likeness. Houdon started the project in 1785, by sailing to Virginia to take Washington’s measurements and create a plaster “life mask” at Mount Vernon, when Washington was 53.
Jefferson faced one important obstacle to hiring Houdon: a need to insure Houdon’s life.
