American Income Life History

In 1951, Bernard Rapoport founded American Income Life Insurance Company with $25,000 of borrowed capital. Today, AIL is one of the nation's largest providers of supplemental life insurance to labor unions, credit unions, and associations. American Income Life covers more than 2 million policyholders and represents more than $130 million in annual insurance product sales. AIL's growth is sustained through high customer satisfaction, innovative lead programs, customer referrals, and a lucrative compensation program.

1950s

1951

American Income Insurance Company is founded with $25,000 of borrowed capital by Company President Harold Goodman and his nephew, Bernard Rapoport, who originally charter an office in Indianapolis, Indiana.

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1952

Company takes in $95,000 in premium its first year in business.

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1953

Company reaches $1 million in premium.

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1954

Company receives 6,000 policy applications monthly. In September, Goodman and Rapoport form a new Company called American Income Life Insurance Company (AIL). AIL reinsures policies of American Income and becomes a stock company.

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1955

By 1955, AIL's assets double and it has $15 million of insurance in force.

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1956

Bernard Rapoport takes American Income Life national and is operating in 13 states with 300 Agents in 96 Agencies by the end of the year.

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1958

Executive offices move from Indianapolis, Indiana, to Waco, Texas.

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1960s

1961

AIL begins selling to labor unions and provides features not offered by other insurers — waives premiums during authorized strikes, develops a scholarship program for children of union members, and contributes to the strike fund of unions engaged in lawful strikes.

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1963

AIL's income reaches $6-$7 million.

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1966

AIL is the only insurance Company with all union employees.

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1970s

1973

AIL income reaches $31.5 million; the same year the company is granted an official designation as a Union Label company by the AFL-CIO. AIL is only one of two insurance companies in the entire United States with the official Union Label.

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1980s

1986

Rapoport and his wife create the Bernard and Audre Rapoport Foundation to focus on giving back to the community.

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1988

Bernard Rapoport named to Fortune magazine's list of '40 most generous Americans'.

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1990s

1994

American Income Life is sold to Torchmark Corporation for $563 million.

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1999

Mark S. McAndrew is named CEO.

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2000s

2000

American Income Life licenses National Income Life Insurance Company (NILICO) as its New York subsidiary, based in Liverpool, New York.

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2001

National Income Life writes its first policy.

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2003

Roger Smith is named CEO and President of AIL.

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2009

AIL President Roger Smith is awarded Eleanor Roosevelt Human Rights Award.

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2010s

2011

Bernard Rapoport is awarded the Central Texas AFP Lifetime Achievement Award based on his extensive philanthropy. Scott Smith is named President.

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2012

Bernard Rapoport passes away at the age of 94. AIL and NILICO together have combined assets of more than $2.6 billion with more than $41.3 billion of life insurance in force. Torchmark Corporation initiates its Closer to the Heart project, a longterm hands-on humanitarian project, in which American Income Life provides hands-on and financial support to the communities in which its associates live, work, and visit.

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2013

AIL has more than 2 million policyholders, who represent more than $130 million in product sales.

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2015

Roger Smith is awarded the first Yitzhak Rabin Legacy Award in Washington, D.C. AIL is licensed in 49 states, Canada, and New Zealand. AIL's Closer to the Heart donations reach more than $528,000.

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