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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.
Frank L. Gillespie (November 8, 1876 – May 8, 1925) was a businessman who created the first African American-owned life insurance agency outside of the U.S. southern states. [ 1 ] [ 2 ] Gillespie had been an agent at Royal Life Insurance Company, a white-owned insurance agency, working in the "department for colored people" and noticed his ...
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.
Fifty-six percent of Black Americans have life insurance, according to a study by LIMRA and Life Happens, compared with 52% of all Americans. ... “The insurance industry and financial services ...
Slave insurance in the United States became an increasingly significant industry after the Act Prohibiting Importation of Slaves, a federal law which took effect in 1808, prevented any new slaves from being imported to the U.S. [1] Existing slaves, especially skilled workers, therefore became more valuable, and were often rented out to ...
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.
Together with Dr. Aaron Moore and Charles C. Spaulding, Merrick helped increase the wealth of the “oldest and largest African American life insurance company in the United States”. [3] North Carolina Mutual was hugely successful—the company sold $4,986,344.40 of insurance and conducted business in many southern states across America. [9]
The least expensive type of life insurance is usually term life insurance. It provides coverage for a specific period — often 10, 20 or 30 years — and is typically much cheaper than permanent ...