Afro-American Life Insurance Company facts for kids
| Industry | life insurance |
|---|---|
| Founded | 1901 |
| Founder | Abraham Lincoln Lewis |
| Headquarters | Jacksonville, Florida |
The Afro-American Life Insurance Company was an important business in Jacksonville, Florida. It was started in 1901 by Abraham Lincoln Lewis and his friends. This company helped Black Americans get life insurance and loans to buy homes.
A Special Insurance Company
Why It Was Needed
Before this company was created, it was very hard for Black Americans to buy life insurance. Many insurance companies would not sell policies to them. If they did, the prices were often too high for most families to afford. This meant that if something happened to a family member, there was no financial help.
What the Company Did
The Afro-American Life Insurance Company changed this. It offered fair and affordable life insurance policies. It also acted like a bank, helping people get mortgages. Mortgages are special loans that help people buy houses. The company even helped create a special place called American Beach in Nassau County, Florida. This was a beach resort where Black families could vacation safely during a time when many public places were segregated.
End of an Era
Over time, the company faced a lot of competition from other insurance companies. Because of this, the Afro-American Life Insurance Company closed down in 1990. The building where the company used to be, at 101 E. Union Street, has been updated. Today, it is used for other offices, including those for Congresswoman Corrine Brown.
