Guide 2: The Inconvenient Conversation - Race-Based Life Insurance Premiums


What The Book is About: The national discussions on reparations for Black Americans must include an additional conversation about the destruction of our capacity to leave legacy assets to our children due to nefarious business practices of Insurance Companies.



Brief Summary and Financial Literacy Objectives


We help you:

  1. Identify if you, your parents, and grandparents were impacted by race-based life insurance.

  2. Understand how the sales of such policies were achieved through misrepresentation and high-pressure sales tactics and how this led to the destruction of our capacity to leave legacy assets to our children and grandchildren due to past nefarious business practices of Insurance Companies.

  3. Examine the national conversation that is a separate conversation that should result in additional restoration of wealth for selected African Americans.

Many of you are too young to remember when your parents and grandparents purchased Life Insurance from insurance agents that pounded on their doors. You may not realize it. Those decisions may impact you now. They were selling industrial life policies to ease the financial burden that would otherwise fall on surviving family members. This type of insurance was also called ‘debit insurance.‘


Unsuspecting black families welcomed these white agents into their homes. Your parents and grandparents unwittingly brought life insurance based on raced-based premiums. The Federal Trade Commission reported that American insurance companies held more than $40 billion worth in 155 million policies in these race-based premium policies. Many of the sales of such policies were achieved through misrepresentation and high-pressure sales tactics.


The national conversation on reparations for Black Americans must include the destruction of our capacity to leave legacy assets to our children due to past nefarious business practices of Insurance Companies. This national conversation is a separate conversation that should result in additional restoration of wealth for selected African Americans. You will want to read Part 2 of the Pathways series ‘The Inconvenient Conversation.' You could be one of those persons...


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