Founded in 1923 and incorporated in 1931, Booker T. Washington Insurance Company, Inc., was one of the 10 largest African American owned life insurance companies in the country. The company is located in Birmingham, Alabama; is licensed in two states; and offers life, accident, and health coverage. The company was ordered into Rehabilitation on February 22, 2006. Its wholly owned subsidiary, Universal Life Insurance Company, was ordered into Rehabilitation on April 24, 2009. Booker T. Washington Insurance Company also owns several non-insurance subsidiaries.
The Rehabilitator of Booker T. Washington and Universal Life entered into coinsurance/reinsurance agreements with North Carolina Mutual Life Insurance Company covering 100% of their liabilities arising on or after January 1, 2008 on their 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.
Guaranty association coverage is coordinated on a state-by-state basis, with coverage usually being provided by the association in your state of residence, regardless of where you purchased your policy. Policyholders should contact their state guaranty association with any questions they have about their policies. The drop-down menu below will take you to your state association's Web site, which provides answers to frequently asked questions and contact information.
For policyholder inquiries, call the company at 205-328-5454.
If you are unsure whom to contact with your questions, please e-mail us here, and we will forward your message to the appropriate party.
NAIC Number: 61468
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: February 22, 2006
Liquidation Date: May 05, 2010
Estate Closed: March 12, 2015