American Income Life is a wholly-owned subsidiary of Globe Life Inc. (NYSE: GL), an S&P 500 company. Globe Life and its affiliates provide life and supplemental health insurance to middle-income families.
American Income Life has consistently achieved strong financial strength ratings. Together with our New York subsidiary, National Income Life, we manage combined assets of $8 billion and have over $86 billion in life insurance in force as of March 31, 2023. Source: AIL's Internal Business Records.
Globe Life's American Income Division (AIL) is a leading provider of supplemental insurance coverage, serving labor unions, credit unions, and associations. AIL is licensed in 49 states, the District of Columbia, and Canada, and is also registered to operate in New Zealand.
The American Income Division was founded in 1954 by Bernard Rapoport, who started the company with just $25,000 in borrowed capital. Rapoport transformed AIL into a successful insurance provider by identifying and serving a unique, underserved niche in the market. His vision of offering affordable insurance to hardworking individuals created opportunities for driven professionals to achieve unlimited earning potential. Today, Globe Life's American Income/National Income Division manages combined assets exceeding $5 billion, with more than $85 billion of life insurance in force as of December 2021.
While other companies may be downsizing, American Income Life continues to thrive and grow. Our insurance products provide unique opportunities for union members interested in selling insurance and running their own businesses. We are proud to be a 100% union label company, with every aspect of our operation, from our independent agents in the field to our employees and even up to our CEO, conducted under the union label.
Additionally, with enhanced commissions, production bonuses, and lifetime vesting, agents who partner with AIL have experienced significant growth in long-term net worth and secured a stable financial future.
Our culture is committed to growth, both personally and collectively. We believe that nurturing development in mind, body, and spirit is vital and forms the foundation of our business success. Our organization is grounded in the values of hard work, discipline, and positivity, as we continuously strive to seize every opportunity for advancement.