Company Profile
Ameritas Life Insurance Corp.
Company Overview
About Us
Our Mission
We help make the lives of our customers and their families better by offering proven, trusted and valued insurance and financial solutions over lifetimes. This is what we do and we strive to do it better than anyone.
Our Vision
We are the company that our customers, our partners and our associates are proud to call theirs. Together we will touch more lives and help more people.
Our Values
Our vision for the future will be realized through acting on values that will never change – ever:
•We will work hard to earn the trust of our customers, partners and each other.
•We will be good business stewards of the resources that have been entrusted to us.
•We will attract, challenge, grow and reward our most valuable assets – our people.
•We will serve our communities with purpose.
•We will always operate in adherence to the highest ethical standards.
Company History
History
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 nation’s 100 largest insurance companies with operations extending to both coasts.
In the 1980s and 1990s, subsidiaries were formed to offer and underwrite variable insurance products; security and investment products; and 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 Life) 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, Ameritas Acacia Mutual Holding Company merged with Union Central Mutual Holding Company and was renamed UNIFI Mutual Holding Company.
In 2012, UNIFI Mutual Holding Company changed its name to Ameritas Mutual Holding Company.
Ameritas Life of New York History
For more than a quarter of a century, Ameritas Life Insurance Corp. of New York (Ameritas Life of NY) 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 insurance products in New York in 1984. In 1988, after Bankers Life Nebraska changed its name to Ameritas to reflect its expansion within 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 (First Ameritas Life) was created to offer individual products exclusively in New York. Ameritas Bankers Assurance Company of New York merged with First Ameritas Life in 1996 to offer individual and group policies. First Ameritas Life joined the Life Insurance Council of New York (LICONY) three years later.
In 2006, Standard & Poor’s and A.M. Best established a group rating for Ameritas Life Insurance Corp., First Ameritas Life Insurance Corp. of New York, Acacia Life Insurance Company and The Union Central Life Insurance Company. That same year, a whole life policy, written on First Ameritas Life paper, was introduced in New York.
By approval of mutual holding company members, in 2010 eligible First Ameritas Life policyholders became members of Ameritas Mutual Holding Company, formerly UNIFI Mutual Holding Company.
First Ameritas Life changed its name to Ameritas Life Insurance Corp. of New York in 2011 and moved its office to New York City.
Acacia Life History
Acacia Life Insurance Company 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. The newly named Acacia Mutual Life Insurance Company (Acacia Life) began selling its products to more than just masons in 1932. During the World War II era, Acacia Life liberalized the “war clauses” on most of its life policies, earning it the moniker, the “Serviceman’s Company.”
Acacia Life continued its growth for decades. In response to clients’ needs for a more full service financial organization, Acacia Life purchased Calvert Group, Ltd. (Calvert) in 1984. Today, Calvert is a leader in fixed income and sustainable and responsible investing. In 1985, Acacia Life 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, Ameritas Acacia Mutual Holding Company merged with Union Central Mutual Holding Company and was renamed UNIFI Mutual Holding Company. Acacia Life became a wholly owned subsidiary of Ameritas Life in 2009.
In 2012, UNIFI Mutual Holding Company changed its name to Ameritas Mutual Holding Company.
Union Central Life History
Founded in 1867, The Union Central Life Insurance Company (Union Central Life) 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 Life expand its field force across the nation. Clients could now be found from coast to coast. Union Central Life President John Pattison was elected governor of Ohio in 1905. During the Great Depression, the company was able to pay claims and policy cash surrenders without delay, further strengthening its reputation for reliability.
In the following decades, the company responded to increasing demand for an expanded portfolio of financial products and services. In the mid-1960s, Union Central Life entered the disability income insurance business, and today offers products for individuals and businesses. 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 Ameritas Acacia Mutual Holding Company, which was renamed UNIFI Mutual Holding Company. In 2009, Union Central Life became a wholly owned subsidiary of Ameritas Life.
In 2012, UNIFI Mutual Holding Company changed its name to Ameritas Mutual Holding Company.
Notable Products / Brands
Products and Services: Life insurance; annuities; individual disability income insurance; group dental, vision and hearing care insurance; retirement plans; investments; mutual funds; asset management and public finance
Notable Accomplishments / Recognition
•Corporate Structure: Mutual Holding Company
•State of Domicile: Nebraska
•Headquarters: Lincoln, Nebraska
•Policyholders/Members: Approximately 430,000
•Assets Under Management: Approximately $34.1 billion
•Life Insurance In Force: Approximately $81.9 billion
•Total GAAP Assets: Approximately $18.7 billion
•Total GAAP Equity: Approximately $2.5 billion
•Number of Associates: Approximately 2,300 nationwide
•Office locations: Lincoln, Nebraska; New York, New York; Bethesda, Maryland.; Cincinnati, Ohio; San Antonio, Texas; Wayne, Nebraska.
•Nationwide Product and Services Distribution
Benefits
Ameritas Total Rewards
We believe our associates find value in their relationship with Ameritas that goes well beyond the traditional compensation and benefits packages. The Ameritas "Total Rewards Philosophy" takes into consideration anything that provides value to our associates. The word "value" refers to both monetary and non-monetary components. The monetary components are easy to identify. The non-monetary components are sometimes a bit more difficult to recognize so we're helping you out by providing information on just some of the many advantages of working for Ameritas. We think you will be surprised by all that Ameritas has to offer.
Your Health
Medical Benefits
It’s a simple principal – we help keep you healthy; you help keep us strong. With multiple medical plans from which to choose, you are sure to find one that’s right for you and your family.
Dental and Vision Insurance
Comprehensive coverage provided by Ameritas Dental and Vision Service Plan (VSP), including lasik and hearing benefits.
Flexible Spending Accounts
Health care and dependent care flexible spending accounts allow you to use tax-free dollars to pay for eligible expenses; plus, for your convenience there is a debit card you can use.
Domestic Partner Benefits
Non-traditional family units are recognized under the health plan and provided medical benefits to meet their needs.
Tobacco-Free Workplace
Ameritas is committed to providing a healthy and safe environment for our associates, customers and visitors, as well as to promoting the health and wellbeing of our associates. To contribute to this, Ameritas is a tobacco-free workplace effective January 1, 2013. We believe being tobacco-free is the right thing to do to help ensure the health and wellness of our most valuable asset – our people.
Your Security
Short-Term Disability
For life’s unexpected speed bumps, we provide short-term disability benefits. Through this program, you are eligible to receive income protection in the event of a qualifying illness or non-work related injury.
Long-Term Disability
For those unexpected situations that require a longer recovery period, this program allows eligible participants to receive income protection in the event of a qualifying illness or non-work related injury.
Family & Medical Leave (FMLA)
When associates need time off work for FMLA qualifying family or personal medical reasons, FMLA provides up to 12 weeks of unpaid, job-protected leave to those who are eligible.
Group Life and Optional Accidental Death & Dismemberment Insurance
Take comfort in knowing your family is protected. Our group life insurance program means one less worry.
Travel Accident Insurance
Coverage is automatic for associates traveling on company business.
Your Future
Retirement Savings Plan
We offer a 401(k) plan with a 50% match of your contributions up to a maximum of 3% of your eligible earnings. Additionally, the company will make a quarterly contribution of 5% of your eligible earnings regardless of whether or not you contribute.
Financial Education
Workshops and seminars on budgeting, managing your personal portfolio and planning for your future.
Long-Term Care
This voluntary benefit provides protection against the financial risks associated with daily living due to an accident, illness or advancing age.
Your Well-Being
Paid Time Off (PTO), Holidays
Everyone needs a break. We know your job satisfaction hinges on a reasonable work/life balance. Our Ameritas policies encourage you to get away and enjoy life.
Other Leaves of Absence
A variety of leaves (military, civil, parental, adoption) insure you have the flexibility to pursue those life events meaningful to you.
Employee Assistance Program (EAP)
This confidential service provides professional counseling services to help you and your family better manage your health and your life.
Wellness Programs
Health risk assessments, health fairs, flu vaccinations, blood pressure management, Weight Watcher’s At Work programs, chair massages and ergonomic workstation setups are offered to enhance your personal wellbeing.
Fitness
Fitness reimbursement program, onsite fitness centers (available in many locations), Strides walking program and discounts at local health and fitness facilities provide you the support and flexibility for you to stay active.
Alternative work schedules
To accommodate and reflect individual needs and preferences, we offer telecommuting, part-time, flextime, compressed work weeks and varied starting and ending work hours as business needs allow.
Your Community Involvement
Community Outreach
We support a number of vital community programs in many locations both on individual and corporate levels, including an annual United Way campaign.
Community Service Leave
One surefire way to make your life more meaningful is to get involved in the lives of others. Our community service leave will help you do just that.
Your Professional Growth
Educational Assistance
Provides you the opportunity to develop your knowledge, skills and abilities through education for your professional development.
Professional Certifications
We encourage you to improve your knowledge of financial services and insurance through relevant industry certification, designation and licensing programs.
Personal Development
The resource library offers many books, videos and audio tapes that will help you to grow, not only professionally, but personally as well.
Additional Benefits
Business casual attire, credit union, reduced cost cafeteria, recognition programs, free parking or subsidy (depending on location).
We constantly search for and develop cost-effective programs that better serve the needs of our associates. As such, any list of benefits is subject to change. Many of these benefits are provided at no cost to the associate while others require an associate contribution. Some associates are not eligible to participate in certain programs and plans and/or may be subject to waiting periods.