Creative Ways Apollo 11 Astronauts Secured Their Families' Futures
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Chapter 1: The Unique Insurance Strategy of Apollo 11
The iconic astronauts who made history as the first to land on the moon had to devise unconventional methods to ensure their families were provided for in case they didn't return home.
Despite their numerous accomplishments, astronauts have often been viewed as larger-than-life heroes over the past fifty years. The pioneers of space travel undertook incredible journeys that far exceed the daily experiences of most people. In the early days of space exploration, traditional life insurance was prohibitively expensive for these trailblazers. As a result, the Apollo 11 crew found themselves needing to create innovative solutions in 1969 to secure their families' financial futures.
Section 1.1: The Challenge of Space Travel
Apollo 11 was a significant milestone in the global space race, capturing the fascination of people worldwide in 1969. The mission symbolized America’s determination to be the first to land on the moon. Despite thorough preparations and rigorous testing, the astronauts faced uncertainties about their journey, with the outcome hanging in a delicate balance between fate, rigorous training, and scientific expertise.
Subsection 1.1.1: Financial Preparations
Given the perilous nature of their mission, the Apollo 11 crew sought to settle their financial matters before embarking on their journey. A significant part of this involved ensuring their families would be financially secure should the worst happen. As reported by NPR's Robert Johnson, astronaut captains earned approximately $17,000 at that time (equivalent to over $131,000 today). However, securing insurance for such high-risk occupations was a daunting task. Companies willing to offer policies demanded premiums around $50,000 annually, which not only exceeded their salaries but also translated to about $386,000 when adjusted for inflation.
Section 1.2: Leveraging Fame for Security
The astronauts recognized that while they couldn’t afford traditional life insurance, their newfound fame as participants in the space race presented an opportunity. Since their selection as astronauts, they had engaged in numerous public appearances and signed countless autographs for enthusiastic fans. Space historian Robert Pearlman noted to NPR:
“These astronauts had been signing autographs since the day they were announced as astronauts, and they knew even though eBay didn’t exist back then, that there was a market for such things. There was demand.”
Chapter 2: The Autograph Strategy
To create their own form of insurance, the Apollo 11 crew began amassing a collection of autographed covers—envelopes that they signed and then postmarked to commemorate significant events. In the lead-up to their launch on July 16, they signed hundreds of covers while under mandatory quarantine and enlisted a mutual friend to manage the collection process.
The first video explores why Neil Armstrong signed hundreds of autographs for his family, providing insight into the astronauts' motivations and actions.
As Apollo 11 ventured into space, the designated friend carefully handled the autographed envelopes, ensuring that some were postmarked on key dates, including the launch day and the historic moment when Armstrong stepped onto the lunar surface on July 20. The families of the astronauts received these signed envelopes, which were intended as a financial safeguard, with the understanding that their value would increase dramatically if something unfortunate were to occur.
Fortunately, the Apollo 11 crew returned safely on July 24, 1969. Although the autographs never had to be sold to support the families, many of these unique pieces eventually made their way to collectors, with some fetching prices as high as $46,000. Given their remarkable backstory and connection to the inaugural moon landing, these covers are highly coveted among collectors. To be considered a genuine “insurance” cover, the signed envelope must originate directly from the astronaut or their family.
The second video delves into the darker side of NASA's history, uncovering secrets that provide additional context to the risks faced by astronauts during missions like Apollo 11.