Aflac Good afternoon. During Aflac’s first year in business, 1955, the company signed 6,426 policyholders. In 1958, they decided to implement cancer insurance policies, pretty new to the industry at the time. Currently, Aflac is the number one secondary health insurance provider in the United States. In fact, by 2003, 98% of Aflac policies in the United States were issued on a payroll deduction basis.
Aflac was founded by three brothers: John, Paul, and Bill Amos. The company was originally named American Family Life Insurance Company of Columbus. In 1964, it changed its name to Aflac (using the acronym of the original name). Today Aflac’s primary focus is on secondary health insurance policies. Many people do not realize what secondary health insurance is. It is a benefit you can receive through your work or on your own. It is useful if you miss work due to an illness or an accident because Aflac will pay you cash benefits and help with health bills if necessary. Aflac also focuses on timely responses with their clients regarding claims in a professional, sensitive manner.
Many people know of Aflac because of its commercials that began airing in the year 2000 starring their signature duck. Celebrities also have appeared in these commercials, including professional basketball star Yao Ming, baseball legend Yogi Berra, and singer Wayne Newton.
Aflac also has an array of medical policies to fit your needs. Their policies include areas such as accident, juvenile life, and lump sum cancer.
Aflac is a prosperous company. The stock has been performing in the mid-50s range per share. In 2009, Aflac posted revenues of about $18 million. Their operating income that same year was around $2 million. Net income was around $1.5 million, and total assets were $84 million dollars.
Although today we face economic challenges, the future of Aflac remains strong. The only obstacle Aflac must overcome…the ONLY obstacle… is that because its insurance policies are not absolutely necessary; they must convince future customers and current customers that the services are still needed.
So why pay attention to Aflac in the coming year? Aflac is THE secondary insurance company created more than 50 years ago and is number one in the field today…there is no doubt it plans to hold that position well into the future.