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 learn how and when to remove this template message this article relies too much on references to primary sources . please improve this by adding secondary or tertiary sources . march 2011 learn how and when to remove this template message 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 learn how and when to remove this template message learn how and when to remove this template message 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 . 1 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 . 2 american income life is a wholly owned subsidiary of torchmark corporation nyse tmk based in mckinney texas . 3 history edit 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 . 3 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 2014 . 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 . 3 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 . 3 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 . 3 american income life insurance co. is suing google inc. and the unnamed owners of two websites for featuring unflattering web pages in the top page of search results for american income life insurance . 4 references edit http www.southcoasttoday.com apps pbcs.dll article aid 20130822 opinion 308220333 http www.ailife.com about ail who we are company growth.aspx a b c d e rapoport bernard 2002 . being rapoport . university of texas press . isbn 0 292 77117 7 http insurancenewsnet.com article.aspx id 323908 retrieved from https en.wikipedia.org w index.php title american income life insurance company & oldid 714690352 categories insurance companies of the united stateslife insurance companiescompanies based in waco texascompanies established in 19511951 establishments in the united statestorchmark corporation subsidiarieshidden categories articles needing additional references from march 2011all articles needing additional referencesarticles lacking reliable references from march 2011all articles lacking reliable referenceswikipedia articles with possible conflicts of interest from june 2012pages using infobox company with unsupported parameters navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 11 april 2016 at 07 53 . text is available under 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