Union Central Life Insurance Company
Ameritas Life History
In 1887 there were no local insurance companies in Lincoln, Nebraska. Five local businessmen saw that as an opportunity, and on April 6, 1887, Old Line Bankers Life Insurance Company of Nebraska (Bankers Life) was formed.
During the first half of the 20th century Bankers Life grew from a small company serving a limited Midwest geographical area to one of the 100 largest insurance companies with operations extending to both coasts. By the 1950s, Bankers Life had outgrown its home office and purchased 17 acres for a new location, which was completed in 1959.
In the 1980s and 1990s, subsidiaries were formed to offer and underwrite variable insurance products; security and investment products; as well as dental insurance, individual and low-load life insurance and annuity products in New York. In 1988, Bankers Life changed its name to Ameritas Life Insurance Corp. (Ameritas) to reflect its broad product line and national scope. The American bison was chosen as the new logo. A widely recognized image, it suggests strength and represents a Midwestern heritage and work ethic.
In 1998, Ameritas Mutual Insurance Holding Company was formed, then merged in 1999 with Acacia Mutual Holding Corporation to form Ameritas Acacia Mutual Holding Company (The Ameritas Acacia Companies) – the first ever merger of two mutual holding companies.
In 2006, The Ameritas Acacia Companies merged with Union Central Mutual Holding Company and was renamed UNIFI Mutual Holding Company (UNIFI Companies).
First Ameritas Life History
For more than a quarter of a century, First Ameritas Life Insurance Corp. of New York has been committed to providing insurance products and services to the New York market.
Bankers Assurance Company of New York was incorporated to sell dental products in New York in 1984.
In 1988, after Bankers Life Nebraska changed its name to Ameritas Life Insurance Corp. to reflect its expansion into the broader financial services industry, the Ameritas name also was added in New York, creating Ameritas Bankers Assurance Company of New York.
In 1994, First Ameritas Life Insurance Corp. of New York was formed to offer individual life insurance products exclusively in New York.
In 1996, Ameritas Bankers Assurance Company of New York merged with First Ameritas Life.
First Ameritas Life joined the Life Insurance Council of New York (LICONY) in 1999.
In 2006, Standard & Poor’s and A.M. Best rating agencies established a group rating for UNIFI Companies life insurance operations, including First Ameritas Life Insurance Corp. of New York. That same year, a whole life product, written on First Ameritas Life paper, was introduced in New York.
By approval of UNIFI Companies’ members in 2010, eligible First Ameritas Life policyholders became members of the UNIFI Mutual Holding Company.
Acacia Life History
Acacia Life began service on March 3, 1869, when President Andrew Johnson signed a Congressional act, which chartered the Masonic Mutual Relief Association. The company was created to provide death benefits to widows and orphans of masons. During its first month in business, the company collected $21.70 in “membership fees,” paying its first claim of $204 in December 1869.
In 1922, the company changed its name to Acacia Mutual Life Association, borrowing the symbol of immortality from the acacia tree. In 1932, the company was renamed Acacia Mutual Life Insurance Company (Acacia) and began selling its products to more than just masons. During the World War II era, Acacia liberalized the “war clauses” on most of its life policies, earning it the moniker, the “Serviceman’s Company.”
Acacia continued its growth for decades. But in response to clients’ needs for a more full-service financial organization, Acacia purchased Calvert Group, Ltd. (Calvert) in 1984. Today, Calvert is a leader in socially responsible investing. In 1985, the company received Congressional approval for the creation of Acacia Federal Savings Bank.
In 1997, Acacia Mutual Holding Corporation was formed. In 1999, Acacia Mutual Holding Corporation merged with Ameritas Mutual Insurance Holding Company to form Ameritas Acacia Mutual Holding Company (The Ameritas Acacia Companies).
In 2006, The Ameritas Acacia Companies merged with Union Central Mutual Holding Company and was renamed UNIFI Mutual Holding Company (UNIFI Companies).
In December 2009, Acacia Life became a wholly owned subsidiary of Ameritas Life.
Union Central Life History
Founded in 1867, The Union Central Life Insurance Company was the first life insurance company chartered in the state of Ohio. Dr. John Pascal Paoli Peck, a physician turned businessman, started the company with his own funds and stock capitalization from the leaders of thriving Cincinnati businesses, including W.A. Procter and James Gamble of Procter and Gamble. Dr. Peck chose the company’s name in recognition of the newly preserved Union and the company’s central geographic location within the United States at that time.
The booming businesses and population of the Ohio River Valley were its first clientele. The prosperous years of the industrial revolution saw Union Central expand its field force across the nation. Clients could now be found from coast to coast. Further growth could be seen in the company’s new headquarters in downtown Cincinnati. Completed in 1913, the white column-topped tower remains a signature of the Cincinnati skyline.
During the Great Depression, the company was able to pay claims and policy cash surrenders without delay, further strengthening their reputation for reliability. Expanding business following World War II prompted a move to a spacious new campus in Cincinnati’s Forest Park suburb in 1964.
In the following decades, the company responded to increasing demand for an expanded portfolio of financial products and services. A broker dealer was created in the 1980s, and the focus of the 1990s was bringing leading-edge products to market swiftly, such as variable universal life and second-to-die life insurance.
On January 1, 2006, Union Central Life formed a mutual holding company and in turn merged with the Ameritas Acacia Mutual Holding Company, which was then renamed UNIFI Mutual Holding Company (UNIFI Companies).
In April 2009, Union Central Life became a wholly owned subsidiary of Ameritas Life.
Life Insurance Products
Life insurance may be one of the most important purchases you’ll ever make. In the event of a tragedy, life insurance proceeds can help pay the bills, continue a family business, finance future needs like your children’s education, protect your spouse’s retirement plans, and much more.
Universal Life Insurance
- Excel Essential UL
Variable Universal Life Insurance
- Excel Performance VUL
