*National Income Life moves to bigger office
by Traci Gregory, Journal Staff
07/21/06: DeWITT — National Income Life Insurance Co. has doubled the size of its Syracuse–area office to accommodate growth. The company moved its local operation to a 2,000-square-foot office at 5000 Campuswood Drive in Pioneer Business Park in DeWitt in May. Previously, it was located in 1,000 square feet of leased space in the Lake Shore Office Building at 913 Liverpool Road, Salina.
“It was extremely cramped,” Dorian Oldham, Central New York director, says of the old office.
The Syracuse–area office opened in 2001 with about five employees, Oldham says. The firm now has 22 employees here — a mix of sales and customer-service representatives, and managers.
“We’re expanding our agency as far as our sales staff,” he adds. He is looking to add another 10 agents to the office as it branches out to servicing the Utica and Watertown markets.
With that much growth, the company really needed more office space, Oldham says. “It fills our needs much better,” he says of the company’s new location in DeWitt.
The company signed a five-year lease with options for renewal and expansion if possible, Oldham says. He declined to provide financial terms.
The entire Central New York operation, which includes offices in Albany, Buffalo, and Corning, has 140 agents. Sales headquarters are located in Rochester. The company began operating in New York (at the Rochester office) in March of 2000 with just two employees, Oldham says.
In 2005, the company wrote $7 million in new policies in Central New York. The goal for 2006 is between $10 million and $15 million in new policies, Oldham says.
Currently, NILICO has 28,000 policyholders and is adding policyholders at a rate of about 900 per month, he says. Oldham would like the number of policyholders to increase by 20 percent over the next year.
The company sells supplemental-insurance benefits such as accidental death and dismemberment policies that “fill the gaps” between other insurance coverage, Oldham says.
It works primarily with unions, such as the United Food and Commercial Workers, he says. National Income sells the policies to the unions, which then offer them to their members.
National Income Life Insurance - NILCIO is a wholly owned subsidiary of American Income Life Insurance Company, headquartered in Waco, Texas. American Income Life has more than $15 billion of life insurance in force and is licensed in 49 states, the District of Columbia, Canada, and New Zealand.
Lindsay Will, of JF Real Estate, Inc., the exclusive leasing agent for Pioneer Business Park, leased the new space to National Income Life.
*Source: "The Central New York Business Journal" - July 2006
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