|
|
- 50-year-old MULTI-MILLION DOLLAR financial institution.
- Assets of more than $54 million.
- Since its organization in 1952, Life of Alabama has paid hundreds
of millions of dollars in benefits to its policyholders.
- During the past two years alone, Life of Alabama paid out more than
$35 million in benefits.
| Insurance in force |
$1,247,728,000
|
| Total assets |
$54,107,234
|
| Premium income last year |
$28,056,317
|
| Payments made to policyowners and beneficiaries
during the past year |
$15,621,252
|
Summary of Annual Report
December 31, 2001
|
Assets
|
| Bonds |
$42,879,168
|
| Stocks |
$2,774,188
|
| First Mortgages on Real Estate |
$238,498
|
| Real Estate |
$968,743
|
| Data-processing Equipment & Software |
$157,441
|
| Loans to Policyholders |
$2,923,112
|
| Cash and Short Term Investments |
$507,134
|
| Amounts Due From Agents |
$254,801
|
| Premiums Considerations Deferred and
Uncollected |
$2,036,572
|
| Investment Income Due and Accrued |
$733,990
|
| Other Assets |
$633,587
|
|
Total
|
$54,107,234
|
|
Liabilities, Capital
& Surplus
|
| Legal Reserves on Policy Contracts |
$45,120,451
|
| Reserve for Contract Claims |
$716,281
|
| Other Policyholders Funds |
$42,015
|
| Policy Contract Liabilities |
$92,877
|
| Advance Premiums |
$289,473
|
| Accrued Expense and Reserve for Taxes |
$449,695
|
| Accrued Federal Income Taxes |
$38,058
|
| Other Liabilities |
$382,358
|
| Security Valuation Reserve |
$388,818
|
| Capital |
$1,500,000
|
| Surplus |
$5,087,208
|
|
Total
|
$54,107,234
|
|
|
