Company History
American Income Life (AIL) was chartered in 1924. Bernard Rapoport
purchased AIL in 1951 and then subsequently positioned the company as a provider of supplemental benefits for the working
men and women of labor unions around the world.
This idea was spawned through conversation with his father's
friend, who was the president of the AFL-CIO in Texas at that time. It was this idea that became the cornerstone of the American
Income products and markets.
Throughout the 1950's, American Income established relationships
with unions creating a niche market for providing supplemental insurance. They later expanded that market to include supplemental
life insurance and supplemental accidental and hospital benefits.
In 1993, American Income was acquired by Torchmark Corp, giving
American Income a Fortune 500 status.
In 1981, Richard Altig, Sr. and Richard Altig, Jr. began working
together as the exclusive provider for American Income in Seattle, Washington.
In the following decades, Altig grew substantially. This was
accomplished by adding strong leadership positions, support departments, and new clients. Altig grew at an explosive rate
especially during the years 1999-2002 growing an average of 35% annually in new revenues.
Altig is now the
largest provider of American Income and represents American Income in 19 US states and seven Canadian provinces.
