American Income Life insurance company - wikipedia American Income Life insurance company hide This article has multiple issues. Please help improve it or discuss these issues on the talk page. ( Learn how and when to remove these template messages ) This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. ( March 2011 ) This article relies too much on references to primary sources. Please improve this by adding secondary or tertiary sources. ( March 2011 ) A major contributor to this article appears to have a close connection with its subject. It may require cleanup to comply with Wikipedia 's content policies, particularly neutral point of view. Please discuss further on the talk page. ( June 2012 ) American Income Life Insurance Company Type Subsidiary of Torchmark Corporation Industry Life insurance Founded 1951 Founder Bernard Rapoport Headquarters Waco, Texas Area served United States Canada New Zealand Key people Roger Smith, CEO Products supplemental health and life insurance Website http://www.ailife.com American Income Life Insurance Company ( formerly NASDAQ : AINC ), based in Waco, Texas, provides supplemental life insurance to labor unions, credit unions, and associations. American Income Life ( AIL ) was founded in 1951. The company 's executive offices have been located in Waco, Texas, since 1959. American Income Life is licensed in 49 states, the District of Columbia, Canada, and is registered to carry on business in New Zealand. AIL also has two wholly owned subsidiaries : National Income Life Insurance Company, licensed in the state of New York, and Union Heritage Life Assurance Company Limited, licensed in the Republic of Ireland. AIL has more than two million policyholders ( as of June 2013 ). With its New York subsidiary, National Income Life Insurance Company ( NILICO ), the company has combined assets of more than $2.6 billion, with more than $41.3 billion of life insurance in force ( as of April 2013 ). American Income Life is a wholly owned subsidiary of Torchmark Corporation ( NYSE : TMK ), based in McKinney, Texas. History The company 's history began in 1951 under the name American Income. American Income was chartered as a mutual assessment association in Indiana with $25,000 of borrowed capital. It was reinsured through American Standard Insurance Company as a new mutual reserve company in March 1951. American Income Insurance Company was officially founded in May 1951 by the company 's president, Harold Goodman, and executive vice president, Bernard Rapoport ( Goodman 's nephew ). The company 's home offices were located in Indianapolis, Indiana. American Income originally sold low - cost hospital insurance plans. During its first year, the company took in about $95,000 worth of premium income. The company reached $1 million worth of insurance premiums in 1953. By 1954, the company was receiving 6,000 insurance policy applications per month. In September 1954, with $200,000 in capital and $100,000 of surplus, Goodman and Rapoport formed a new company called American Income Life Insurance Company ( AIL ). American Income Life reinsured the policies of American Income and was transformed from a mutual reserve company to a stock company. American Standard, the company 's original insurer, was merged with American Income Life, and the company acquired about $400,000 worth of premiums. Between 1954 and 1955, AIL 's assets had doubled, its net reserve had tripled, its capital and surplus more than doubled, and it had about $15 million of insurance in force. In 1956, Rapoport desired to take the Indiana - based company national. He obtained a license in Ohio and opened a central office in Columbus. By the close of 1956, American Income Life was operating in thirteen states with 300 sales personnel in the field operating out of 96 general agencies. In March 1958, the company 's home offices were moved from Indianapolis, Indiana, to Waco, Texas. In 1961, AIL began providing supplemental insurance to members of labor unions and serving union policyholders in ways unfamiliar to the industry. For example, AIL waived payment of premiums by union members during an authorized strike action, a benefit still offered in 2017. AIL also developed a college scholarship program for children of union members, and the company contributed to the strike funds of unions engaged in lawful strikes. The company was positioned as the only 100 % union insurance company, and termed the phrase, `` Be Union - Buy Union. '' In 1963, AIL 's income was about $6 or $7 million. By 1973, income reached $31.5 million. In June 1966, the Office and Professional Employees International Union ( OPEIU ) organized the Home Office staff, making AIL the only insurance company with all union employees. In October 1973, the company was granted an official designation as a Union Label company by the AFL - CIO. AIL was one of only two insurance companies in the entire United States with the official Union Label. In 1994, American Income Life was sold to Torchmark Corporation for $563 million. in 2012, American Income Life Insurance Co. sued Google, Inc. and the unnamed owners of two websites for featuring unflattering results for the company in the top page of search results. References Jump up ^ http://www.southcoasttoday.com/apps/pbcs.dll/article?AID=/20130822/OPINION/308220333 Jump up ^ http://www.ailife.com/about-ail/who-we-are/company-growth.aspx ^ Jump up to : Rapoport, Bernard ( 2002 ). Being Rapoport. University of Texas Press. ISBN 0 - 292 - 77117 - 7 Jump up ^ Green, Meg ( January 6, 2012 ). `` American Income Life Sues Google For Unflattering Search Results ''. insurancenewsnet.com. Retrieved January 14, 2018. Retrieved from `` https://en.wikipedia.org/w/index.php?title=American_Income_Life_Insurance_Company&oldid=837264724 '' Categories : Insurance companies of the United States Life insurance companies Companies based in Waco, Texas Financial services companies established in 1951 1951 establishments in Texas Torchmark Corporation Subsidiaries Hidden categories : Articles needing additional references from March 2011 All articles needing additional references Articles lacking reliable references from March 2011 All articles lacking reliable references Wikipedia articles with possible conflicts of interest from June 2012 Articles with multiple maintenance issues Pages using infobox company with unsupported parameters Talk About Wikipedia Add links This page was last edited on 19 April 2018, at 18 : 52. 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Question: who is the owner of american income life
Answer: Torchmark Corporation (NYSE: TMK), based in McKinney, Texas