Social Welfare in Britain, so far provided for by private enterprise and charity, became a state responsibility for the first time with Lloyd George’s National Insurance Act. Sickness and unemployment benefits were paid through Approved Societies run by private companies. Prudential played a major role in the scheme with four Approved Societies and the provision of supplementary policies to members. By the time the scheme was abolished in 1948 – when the Welfare State was set up – 5 million people were receiving benefits through Prudential agents.
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