Conduction. 1  Conduction is the transfer of thermal energy through direct contact between particles of a substance, without moving the particles to a new location. 2  Usually occurs in solids. 3  When heat is supplied to one end, molecules at that end start to move more quickly.
Episcopalian ministers organized a similar fund a decade later. (The first insurance company in the American colonies was formed before this, in Charleston, S.C., in 1735, but it offered only fire insurance at first. It didnât add life insurance until 1760.). (AP Photo/Lefteris Pitarakis).
Annuities came to America in the 18th century as a means of supporting church ministers. A Pennsylvania life insurance company was the first insurance company to market commercial annuity contracts to the public in 1912. Fixed annuities grew in popularity over time and have become a mainstay of conservative investors. Although the first variable annuity was created in 1952, they did not become commonplace until the â80s, and were followed by indexed contracts in the â90s.