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.



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

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Company reaches $1 million in premium.

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

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

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

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AIL is the only insurance Company with all union employees.

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

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

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

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

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National Income Life writes its first policy.

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Roger Smith is named CEO and President of AIL.

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

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

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

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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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