American Life Insurance Company(ALICO)

                                                American Lfe Insurancce Company  (in the past NASDAQ: AINC), situated in Waco, Texas,  unions, and affiliations. American Income Life (AIL) was have been situated in Waco, Texas, since 1959. American Income Life is authorized in 49 states, the District of Columbia, Canada, and is enlisted to bear on business in New Zealand. Upset likewise has two entirely claimed auxiliaries: National Income Life Insurance Company, authorized in the condition of New York, and Union Heritage Life Assurance Company Limited, authorized in the Republic of Ireland.

Afflict has more than two million policyholders (as of June 2013). With its New York auxiliary, National Income Life Insurance Company (NILICO), the organization has joined resources of more than $2.6 billion, with more than $41.3 billion of life coverage in power (as of April 2013). American Income Life is a completely possessed auxiliary of Torchmark Corporation (NYSE: TMK), situated in McKinney, Texas.

                                                                                    History

The organization's history started in 1951 under the name American Income. American Income was contracted as a common evaluation relationship in Indiana with $25,000 of obtained capital. It was reinsured through American Standard Insurance Company as another shared store organization in March 1951. American Income Insurance Company was formally established in May 1951 by the organization's leader, Harold Goodman, and official VP, Bernard Rapoport (Goodman's nephew). The organization's home workplaces were situated in Indianapolis, Indiana.

American Income initially sold minimal effort doctor's facility protection arranges. Amid its first year, the organization took in about $95,000 worth of premium wage. The organization came to $1 million worth of protection premiums in 1953. By 1954, the organization was getting 6,000 protection arrangement applications for each month.

In September 1954, with $200,000 in capital and $100,000 of excess, Goodman and Rapoport shaped another organization called American Income Life Insurance Company (AIL). American Income Life reinsured the approaches of American Income and was changed from a shared store organization to a stock organization. American Standard, the organization's unique safety net provider, was converged with American Income Life, and the organization gained about $400,000 worth of premiums.

Somewhere around 1954 and 1955, AIL's benefits had multiplied, its net store had tripled, its capital and surplus dramatically increased, and it had about $15 million of protection in power. In 1956, Rapoport sought to take the Indiana-based organization national. He got a permit in Ohio and opened a focal office in Columbus. By the end of 1956, American Income Life was working in thirteen states with 300 deals faculty in the field working out of 96 general offices. In March 1958, the organization's home workplaces were moved from Indianapolis, Indiana, to Waco, Texas.

In 1961, AIL started giving supplemental protection to individuals from worker's parties and serving union policyholders in routes new to the business. For instance, AIL waived installment of premiums by union individuals amid an approved strike activity, an advantage still offered in 2014. Upset additionally built up a school grant program for offspring of union individuals, and the organization added to the strike assets of unions occupied with legal strikes. The organization was situated as the main 100% union insurance agency, and termed the expression, "Be Union-Buy Union." In 1963, AIL's salary was about $6 or $7 million. By 1973, pay came to $31.5 million.

In June 1966, the Office and Professional Employees International Union (OPEIU) sorted out the Home Office staff, making AIL the main insurance agency with every single union representative. In October 1973, the organization was allowed an official assignment as a Union Label organization by the AFL-CIO. Upset was one of just two insurance agencies in the whole United States with the official Union Label.