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- Guarantee_Security_Life_Insurance_Company abstract "In 1978, Mark Sanford and William Blackburn were working as stockbrokers in Louisville, Kentucky when they decided to form their own company, Transmark USA, Inc. In 1984, Transmark purchased Guarantee Security Life Insurance Company (GSLIC) of Jacksonville, Florida. The two men moved to the Sunshine State, Blackburn taking charge of daily operations, while Sanford managed the investment portfolio.GSLIC's primary products were deferred annuities and life insurance policies. The firm marketed these products through a national sales force of over 16,000 highly commissioned insurance agents. However, customers were attracted to the products by the promised 10% interest rate, which was guaranteed for the first year. According a sales brochure, customers were also protected against loss of their investment: "The principal is fully guaranteed. It is not subject to losses created by market fluctuations."Customers soon found there were drawbacks to the policies. The interest rates paid after the first year dropped dramatically. However, annuitants were discouraged from withdrawing their money by high cancellation penalties ($1,000 for a $10,000 investment). Between 1984 and 1991, the company grew from less than $100 million to almost $1 billion in assets and had about 57,000 policyholders in 42 states. In 1991, however, the company went insolvent and stopped writing new policies. Consequently, the State of Florida established a receivership to take control of the company.".
- Guarantee_Security_Life_Insurance_Company wikiPageID "1578482".
- Guarantee_Security_Life_Insurance_Company wikiPageRevisionID "532053741".
- Guarantee_Security_Life_Insurance_Company hasPhotoCollection Guarantee_Security_Life_Insurance_Company.
- Guarantee_Security_Life_Insurance_Company subject Category:Companies_based_in_Jacksonville,_Florida.
- Guarantee_Security_Life_Insurance_Company subject Category:Defunct_financial_services_companies_of_the_United_States.
- Guarantee_Security_Life_Insurance_Company subject Category:Insurance_companies_based_in_Florida.
- Guarantee_Security_Life_Insurance_Company type Abstraction100002137.
- Guarantee_Security_Life_Insurance_Company type CompaniesBasedInFlorida.
- Guarantee_Security_Life_Insurance_Company type Company108058098.
- Guarantee_Security_Life_Insurance_Company type DefunctFinancialServicesCompaniesOfTheUnitedStates.
- Guarantee_Security_Life_Insurance_Company type FinancialInstitution108054721.
- Guarantee_Security_Life_Insurance_Company type Group100031264.
- Guarantee_Security_Life_Insurance_Company type Institution108053576.
- Guarantee_Security_Life_Insurance_Company type InsuranceCompaniesOfTheUnitedStates.
- Guarantee_Security_Life_Insurance_Company type InsuranceCompany108070465.
- Guarantee_Security_Life_Insurance_Company type NondepositoryFinancialInstitution108419984.
- Guarantee_Security_Life_Insurance_Company type Organization108008335.
- Guarantee_Security_Life_Insurance_Company type SocialGroup107950920.
- Guarantee_Security_Life_Insurance_Company type YagoLegalActor.
- Guarantee_Security_Life_Insurance_Company type YagoLegalActorGeo.
- Guarantee_Security_Life_Insurance_Company type YagoPermanentlyLocatedEntity.
- Guarantee_Security_Life_Insurance_Company comment "In 1978, Mark Sanford and William Blackburn were working as stockbrokers in Louisville, Kentucky when they decided to form their own company, Transmark USA, Inc. In 1984, Transmark purchased Guarantee Security Life Insurance Company (GSLIC) of Jacksonville, Florida. The two men moved to the Sunshine State, Blackburn taking charge of daily operations, while Sanford managed the investment portfolio.GSLIC's primary products were deferred annuities and life insurance policies.".
- Guarantee_Security_Life_Insurance_Company label "Guarantee Security Life Insurance Company".
- Guarantee_Security_Life_Insurance_Company sameAs m.05cy3x.
- Guarantee_Security_Life_Insurance_Company sameAs Q5613906.
- Guarantee_Security_Life_Insurance_Company sameAs Q5613906.
- Guarantee_Security_Life_Insurance_Company sameAs Guarantee_Security_Life_Insurance_Company.
- Guarantee_Security_Life_Insurance_Company wasDerivedFrom Guarantee_Security_Life_Insurance_Company?oldid=532053741.
- Guarantee_Security_Life_Insurance_Company isPrimaryTopicOf Guarantee_Security_Life_Insurance_Company.