<P> In September 1954, with $200,000 in capital and $100,000 of surplus, Goodman and Rapoport formed a new company called American Income Life Insurance Company (AIL). American Income Life reinsured the policies of American Income and was transformed from a mutual reserve company to a stock company . American Standard, the company's original insurer, was merged with American Income Life, and the company acquired about $400,000 worth of premiums . </P> <P> Between 1954 and 1955, AIL's assets had doubled, its net reserve had tripled, its capital and surplus more than doubled, and it had about $15 million of insurance in force . In 1956, Rapoport desired to take the Indiana - based company national . He obtained a license in Ohio and opened a central office in Columbus . By the close of 1956, American Income Life was operating in thirteen states with 300 sales personnel in the field operating out of 96 general agencies . In March 1958, the company's home offices were moved from Indianapolis, Indiana, to Waco, Texas . </P> <P> In 1961, AIL began providing supplemental insurance to members of labor unions and serving union policyholders in ways unfamiliar to the industry . For example, AIL waived payment of premiums by union members during an authorized strike action, a benefit still offered in 2017 . AIL also developed a college scholarship program for children of union members, and the company contributed to the strike funds of unions engaged in lawful strikes . The company was positioned as the only 100% union insurance company, and termed the phrase, "Be Union - Buy Union ." In 1963, AIL's income was about $6 or $7 million . By 1973, income reached $31.5 million . </P> <P> In June 1966, the Office and Professional Employees International Union (OPEIU) organized the Home Office staff, making AIL the only insurance company with all union employees . In October 1973, the company was granted an official designation as a Union Label company by the AFL - CIO . AIL was one of only two insurance companies in the entire United States with the official Union Label . </P>

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