American Income Life & Surace-Smith Agency History

American Income Life Insurance Company (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 Life products and markets.

Throughout the 1950's, American Income Life established relationship with unions creating a niche market for providing supplemental insurance. AIL later expanded that market to include supplemental life insurance and supplemental accidental and hospital benefits. American Income Life has been providing benefits to families for over 50 years and has recently been rated A+ Superior by AM Best, the organization recognized by the U.S. Securities and Exchange Commission for assessing the financial strength of insurance related organizations and the credit quality of the obligations. In 1993, American Income Life was acquired by Torchmark Corp., giving AIL a Fortune 500 status. American Income Life Insurance Company is a principle subsidiary of Torchmark Corporation, which is traded on NYSE under the symbol TMK.

With over $15 billion of life insurance in force, American Income Life is nationally recognized as one of the significant carriers of supplemental insurance in North America. Headquartered in Waco, Texas, American Income Life currently operates in the United States, Canada, New Zealand, and - through their wholly-owned subsidiary Union Heritage Life Assurance Company Limited - in the Republic of Ireland.

In 1983, Jim Surace found American Income Life Insurance Company and, in his first year, was runner up as Agent of the year which led to his promotion to the State General Agent position in Northeast Ohio - one of AIL’s quickest promotions to this position in its history. Jim Surace was State General Agent of the year in 2006 and again in 2008, the only 2 time recipient of this award to date. Jim Surace has been on the Executive Council for Torchmark since its inception.

In 2006, Marcus Smith was brought in as a partner, creating the Surace-Smith Agencies of Ohio. Marcus’ youth and energy combined with his leadership quickly vaulted the Surace-Smith agencies to heights never before reached. The Surace-Smith doubled its size in 2006, acquiring Western Ohio as well as Central Ohio, doubling the agency in size. They also doubled the production from 3.5 million dollars in 2006 to 7 million in 2007. 2008 and 2010 were both record breaking years as well. In 2008 they did 8 million and in 2010 they did almost did 10 million. The Surace-Smith agencies were the number one agency internationally with American Income life in 2006, 2007, and 2008. Since 2006 every year has been a record breaking year not only for the Surace-Smith Agency but for American Income Life as well. Marcus and Jim Surace were named SGA of the year in 2008.

In 2011, the Surace-Smith Agencies celebrated with a record year while obtaining the coveted #1 spot for agencies.