Incorporated on June 13, 1955 in Atlanta, Georgia, Bankers Fidelity Life Insurance Company commenced business on November 22, 1955 as a legal reserve stock life insurance company. Since then, the company has pursued an aggressive growth pattern through enhanced product offerings and an expanded geographic reach.
By the end of 1958, Bankers Fidelity Life showed a net operating profit. The first shareholder dividend was paid in 1960, the same year the company was featured in Forbes magazine as “a small giant” in the insurance industry.
During the 1960s and 70s, the company’s growth was sure and steady as we received certificates of authority in Florida, Virginia, Tennessee, South Carolina, Alabama, Arkansas, Louisiana, West Virginia, Mississippi, Indiana, North Carolina, Oklahoma and Kentucky.
Licensed in 14 states and boasting assets of more than $22 million, Bankers Fidelity Life was purchased by Atlantic American Corporation in August 1975.
By 1979, Bankers Fidelity Life’s assets had grown to $28 million. The addition of Missouri, New Mexico, Washington, Nebraska, Utah and Texas brought to 20 the total number of states where we were licensed to do business at the end of 1980.
Medicare supplement and long-term care products were introduced in 1983 and the company focused its energy and resources on promoting and marketing these plans. In 1988, Bankers Fidelity Life further broadened its product base by introducing a cancer benefit policy, short-term disability, an accident expense policy and limited-benefit hospitalization plans.
Beginning in 1993, Bankers Fidelity Life focused its marketing efforts on senior life products as a means to further diversify the product base.
During the next few years, existing life and health products were updated to conform with ever-changing regulatory standards and programs were established to sell all existing products on a payroll basis.