Like most traveling businessmen, insurance agents consider credit cards all but indispensable. Lately, however, agents have been alarmed to find that one of the fastest growing credit-card items is insurance itself. Thirty card systems and charge-account issuers now sell and service simple policies from travel and accident to term life insurance. So far, more than a dozen insurance companies are writing the policies.
First to try the credit-card scheme on a large scale was Los Angeles' Beneficial Insurance Group, which teamed up with the Diners' Club in 1959. After a slow start, Beneficial's card-catered insurance business grew 40% last year;...
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