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North American Life - Wikipedia

North American Life The North American Life Assurance Company, commonly known as North American Life, was an insurance company headquartered in Toronto, Ontario. In 1995, it was one of the largest mutual insurance companies in North America with US$4.48 billion in assets before merging with The Manufacturers Life Insurance Company to form Manulife Financial the following year. History [ edit ] Nineteenth century [ edit ] Following the defeat of the Liberal government in the federal election of 1878, the outgoing prime minister Alexander Mackenzie moved from Ottawa to Toronto. The following year, Mackenzie's friends endeavored to find him employment and decided to sponsor the...

Great American Life Takes MassMutual Branding, Wealth Management

Massachusetts Mutual Life Insurance Company closed on its deal to acquire Great American Life Insurance Company, a subsidiary of publicly traded American Financial Group, last May. Now the unit, which provides fixed indexed and registered indexed-linked annuities to some 50,000 retail advisors, is relinquishing the Great American name back to its former parent and rebranding to MassMutual Ascend. Besides the branding, nothing much else is changing. MassMutual Ascend will continue to operate as an independent subsidiary of MassMutual, with its more than 600 employees supporting the business from its Cincinnati headquarters. “While we get all the strength, brand recognition, size and scale...

Black Americans are buying more life insurance. Here s why.

Two days after Christmas, Johnny Oaks found his son, Jonathan, dead in his bedroom of their Houston home. The cause of death: Covid-19. The shock and pain crippled Oaks. “J,” as he called his son, was just 37. He had been diagnosed with the coronavirus only two days before, after being sent home from work because of excessive coughing. Jonathan was Oaks’ only son, whom he raised as a single parent before getting remarried. Even though he was devastated, Oaks said he still felt fortunate that he was able to give his son a proper burial because he had life insurance. “Ever since he was 4 or 5, I had him covered,” he told NBC News. “Without life insurance, it would have been a struggle. It had...

Remembering Afro-American Life Insurance Company The Coastal

Following the Civil War, newly free Black men and women joined the ranks of paid workers throughout the country. But certain living necessities – such as health or life insurance policies – were hard for them to come across at the time, as very few companies of the time were willing to accept Black residents as clients. In 1901, a group led by Abraham Lincoln Lewis sought to change this for Jacksonville residents. Lewis, along with Rev. E. J. Gregg, Rev. J. Milton Waldron, Dr. Arthur W. Smith, E. W. Latson, A. W. Price, and J. F. Valentine, formed what was then known as the Afro-American Industrial and Benefit Association with the mission of providing accessible health and life insurance...

New Study Finds Black American Life Insurance Ownership Increased During the Pandemic but a Significant Coverage Gap Remains

WINDSOR, Conn., July 6, 2021—Newly released findings from the 2021 Barometer Study reveal the majority of Black Americans own life insurance (56%), up three percentage points from 2020 and four percentage points higher than the general population. Yet this still represents a 19-point gap from the 75% of Black Americans who believe they need life insurance. “While our research shows that Black Americans are more likely to own life insurance than any other race, the reality is 46% — 20 million adults — say they need (or need more) life insurance coverage, which identifies a significant coverage gap,” said David Levenson, president and CEO, LL Global, LIMRA and...

Pan-American Life Insurance Group Implements Box to Power Cloud Content Management, Box Blog

We’re thrilled to announce Pan-American Life Insurance Group (PALIG) as a new Box customer. PALIG is a leading provider of life, accident, and health insurance throughout the Americas. To support its workforce of 2,100 employees serving millions of customers across 49 US states, Latin America, and the Caribbean, PALIG is leveraging a modern cloud content stack with Box as its central content layer. With Box, PALIG can power seamless collaboration and digital experiences for its employees and clients all the while meeting strict security and compliance requirements. “Leveraging Box’s thoughtful implementation approach, we were able to implement Box at a record-setting speed across our vast...

1.7M subsidy eyed for Great American Life expansion

CINCINNATI — The city of Cincinnati has offered a $1.4 million forgivable loan and tax credits worth $278,000 to Great American Life Insurance Co., which last week announced an $8 million expansion project that would fill two floors of a 10-story office building at the Banks. The preliminary offer is yet to be finalized and it would require approval by city council, spokesman Rocky Merz said. But the March 9 offer letter, obtained by the WCPO 9 I-Team in a public record request, shows some evolving details about how the city is responding to job-creation deals in an age of remote working arrangements. “Prior to recommending the project to city council, the city would like to work with the...

American General Life Insurance Review 2022 Forbes Advisor

Types of Life Insurance Sold by American General Guaranteed issue whole life Guaranteed universal life American General’s term life insurance Term life insurance is a simple option if you’re looking for life insurance to cover a specific period in your life. For example, suppose you want enough coverage to cover income replacement for your family if you die. In that case, a term life policy with a term that covers the remainder of your working years is an option. After the term expires, you can always renew or get a new policy, but you should prepare for increased premiums. Term life insurance does not build cash value, and as a result, it is often the cheapest type of life insurance...

Pan-American Life Insurance Group Announces Data Security Incident

NEW ORLEANS, March 11, 2021 /PRNewswire/ -- Pan-American Life Insurance Group (PALIG) shared information today regarding a data security incident. On February 19, 2021, PALIG detected suspicious activity within its computer systems and on March 9, 2021, it confirmed that some policyholder and beneficiary information, like name, address and date of birth, was taken. It also appears that a relatively small percentage of policyholders and beneficiaries may have had more sensitive information taken, and PALIG will be contacting those individuals directly by mail or email with more information. PALIG's systems contain various types of personal information related to the servicing of the...

Great American Life creates 150 jobs with move to the Banks

CINCINNATI — Great American Life Insurance Co. will create 150 new jobs with an $8 million expansion that fills empty space in the GE Global Operations Center at the Banks, the company announced Monday. Ohio contributed $3.4 million in development incentives to encourage the project. The city of Cincinnati is expected to chip in a forgivable loan and local tax credits. “The fact that Great American Life is choosing to remain in and expand in Cincinnati further strengthens Ohio’s leadership in the financial services sector,” Ohio Governor Mike DeWine said in a press release. “Ohio’s ingenuity and global competitiveness are paving the way for companies like Great American Life to write the...