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302 Broad Street Gadsden, AL 35901

256-543-2022

Office Hours
Mon - Thur  8:15 am - 4:45pm CST
Friday 8:15am - 12:15pm CST

 

Life Insurance Company of Alabama is a MULTI-MILLION DOLLAR financial institution. The company now has over 79 Million Dollars in assets.

 

               
Summary of Annual Report
 2007

Insurance in force

$1,874,714,000

Total assets

$79,199,132

Premium income last year

$37,247,468

Payments made to policy owners and beneficiaries during the past year

$20,002,529

Assets, Liabilities, Capital & Surplus
Assets  2007

Bonds

$65,461,286

Stocks

$3,784,619

Other Invested Assets

$896,733

First Mortgages on Real Estate

$0

Real Estate

$550,480

Data-processing Equipment & Software

$37,938

Cash & Short Term Investments

$1,352,396

Loans to Policyholders

$2,644,396

Premiums Considerations Deferred and Uncollected

$2,528,551

Investment Income Due and Accrued

$959,416

Receivable for Securities

$0

Net Deferred Tax Asset

$175,402

Other Assets

$807,894

Total

$79,199,132

Liabilities, Capital & Surplus  

Legal Reserves on Policy Contracts

$51,960,288

Reserve for Contract Claims

$7,245,478

Other Policyholders Funds

$31,582

Policy Contract Liabilities not Included Elsewhere

$147,126

Advance Premiums

$457,319

Accrued Expense and Reserve for Taxes

$1,450,533

Security Valuation Reserve

$769,179

Other Liabilities

$505,233

Paid in Capital

$1,500,000

Accumulated Surplus

$15,132,394

Total

$79,199,132

 

 
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302 Broad Street, Gadsden, AL 35901  |    Phone: 1-800-226-2371
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