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In 1944, Golden State opened an office in Nickerson's home state of Texas. When Nickerson died in 1945, Houston assumed leadership of the company. At that time, Golden State Mutual Life Insurance Company was the seventh largest black insurance firm in the United States and the largest black-owned business west of the Mississippi. [2] [4]
Central Life Insurance Company of Florida (1922 – 1991) [1] was an American insurance company founded by prominent African Americans in Tampa, Florida, U.S.. Established during the Jim Crow era of segregation and discrimination, the company loaned money to Black–owned businesses.
He partnered with fellow insurance salesman Norman O. Houston and businessman George A. Beavers Jr. to secure 500 pre-paid life insurance applications as well as the $15,000 deposit required by California. Houston raised the $15,000 and Beavers found 500 blacks that would pay premiums for a company that was yet to be established. [1] [2]
Only 10% of Black families receive a wealth transfer, versus 46% of white families, according to one 2014 study.The median transfer for Black families who get an inheritance is $52,240, or 60% ...
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56 percent of Black Americans have now purchased life insurance policies in the last year, which is the highest rate among all racial groups according to LIMRA. Black Americans are purchasing more ...