Samuel Wilson Rutherford facts for kids

Samuel Wilson Rutherford (September 15, 1866 – January 18, 1952) was an American business leader. He founded the National Benefit Insurance Company in Washington, D.C.. In 1927, he received the first Harmon award and a gold medal. This award recognized his excellent leadership and management. His company grew from a small group helping sick people in 1898 to a large life insurance company. It managed $75,000,000 in insurance plans.

Samuel Wilson Rutherford: A Business Pioneer

Samuel Wilson Rutherford was a very important African-American business man. He helped many people through his work in the insurance industry. He showed great leadership and vision.

Early Life and Beginnings

Samuel Wilson Rutherford was born on September 15, 1866. His birthplace was Clayton County, Georgia (U.S. state). Not much is known about his early childhood. However, he grew up to become a very successful person. He saw a need in his community.

Building an Insurance Company

Rutherford started his company in 1898. It was first a small "sick benefit association." This means it was a group that helped people financially when they were sick. They started with a small amount of money, about $3,000. This money was called capital stock.

Over time, Rutherford worked hard to grow his business. He turned it into a "legal reserve life insurance company." This type of company is more official and helps families financially when someone passes away. It was a big step forward for his company.

Helping the Community

Samuel Rutherford's company became very successful. It managed $75,000,000 in insurance plans. This meant his company was helping many families. It provided financial security for them. This was especially important for the African-American community at that time. They often faced challenges in getting services from other companies. Rutherford's company filled a vital need.

A Special Award

In 1927, Samuel Rutherford received a special honor. He won the first Harmon award. He also got a gold medal. This award recognized his amazing work. It celebrated his "sound management and leadership" of his company. It showed how much he had achieved.

Legacy

Samuel Wilson Rutherford passed away on January 18, 1952, in Washington DC. He left behind a lasting legacy. He was a true pioneer in the insurance world. He showed what was possible through hard work and dedication. His company helped countless families. He remains an inspiring figure in American business history.