Policyholder Information
Company Overview
Universal Life Insurance Company was originally a wholly owned subsidiary of Protective Industrial Life Insurance Company. In 2004, after Booker T. Washington Insurance Company, Inc., purchased Protective Industrial Life, Protective merged with its subsidiary and Universal Life became the surviving entity. Located in Birmingham, Alabama, Universal Life offers life, accident, and health coverage and was licensed in 10 states and the District of Columbia. The company was ordered into Rehabilitation on April 24, 2009. Its parent, Booker T. Washington Insurance Company, Inc., was ordered into Rehabilitation on February 22, 2006.
The Rehabilitator of Universal Life and Booker T. Washington entered into coinsurance/reinsurance agreements with North Carolina Mutual Life Insurance Company covering 100% of the liabilities arising on or after January 1, 2008 on its premium paying whole life policies. Assumption certificates have been issued to over 48,000 policyholders, with approximately 1,100 still to be issued.
An Amended Rehabilitation Plan was approved by the Jefferson County, Alabama, Circuit Court on August 13, 2009. The Jefferson County, Alabama, Circuit Court issued an order of liquidation on May 5, 2010. The deadline for filing a proof of claim with the Receiver is May 5, 2011.
Policy & Claims Administration
| Type of Policy | Company | Effective Date |
|---|---|---|
| Life and Health Premium Paying Policies |
Insurance Administrative Solutions, L.L.C. 17757 US Highway 19 N, Suite 660 Clearwater, FL. 33764-6598 1.855.446.7333 |
Apr 30, 2013 - Sep 30, 2020 |
| Life, Paid-Up Policies |
Insurance Administrative Solutions, L.L.C. 17757 US Highway 19 N, Suite 660 Clearwater, FL. 33764-6598 1.855.446.7333 |
Nov 01, 2014 - Sep 30, 2020 |
| Life & Health |
Actuarial Management Resources P.O. Box 17191 Winston Salem, NC. 27116 855.446.7333 http://www.actmanre.com |
Oct 01, 2020 |
Company Details
NAIC Number: 70157
An NAIC number is a five-digit number assigned to every insurance company by the NAIC (National Association of Insurance Commissioners). Because each company has its own unique number, the NAIC number can be used to identify a particular company.
Domiciliary State: Alabama
The domiciliary state is the state in which an insurance company is incorporated or organized.
Rehabilitation Date: April 24, 2009
Liquidation Date: May 05, 2010
Estate Closed: March 12, 2015
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