INSURANCE: Long Shot

Boston's John Hancock Mutual Life Insurance Co. last week announced one of the biggest percentage returns in insurance history. The award went to Edward L. Long, 22, who set up a building partnership in Massachusetts last May with Charles K. Hammond, 24. Each took out a routine life-insurance policy on the oth er; a few weeks later, Hammond was killed in an auto wreck. On the policy, Long had paid only one premium, totaling exactly $30. His award: $57,325,38.

...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!