Atlantic Coast Life Insurance Company

The Atlantic Coast Life Insurance Company was founded in Charleston, South Carolina back in 1925. Initially, the company served local funeral homes and families in preparation for “end of life” situations. Since then, the company has grown to a nationwide scale and offers a variety of annuity and insurance products.

In 2015, Advantage Capital purchased Atlantic Coast Life from the Scarborough Family and Y. W. Scarborough returned to the position of president. Growth, expansion, and success has multiplied.  

Atlantic Coast began an intense expansion that has helped them spread across the country!  The new ownership has guided them into the Annuity Marketplace. Today they offer some of the best fixed annuity rates available anywhere.

Atlantic Coast Life Ratings

On January 21, 2021, Atlantic Coast Life Insurance Company was assigned positive credit ratings by AM Best. They received an AM Best Financial Rating of B++ and a Long-Term Issuer Credit Rating of bbb, both were assigned with a Stable Outlook.

Atlantic Coast Life Insurance CompanyRatings
Mailing Address1565 SAM RITTENBERG BOULEVARD
CHARLESTON, SC 29407
Group AffiliationAdvantage Capital Group
A.M. Best RatingB++
State of DomicileSouth Carolina
NAIC Company Code 61115
Assets$466,382,649
Liabilities$425,333,973
Website https://aclico.com/

Contact Information:

Company History

Between 1925 and 1940 Atlantic Coast Life’s Home Service Distribution was built through recruiting sales agents and building district offices throughout South Carolina. In 1946, the Scarborough Family started Cosmopolitan Life Insurance Company and in 1954 merged its operations into Atlantic Coast Life. 

Their Home Service distribution reached its height in 1978 employing a field sales force of over 250 persons working out of 15 District Offices strategically located across the state of South Carolina.

In 1954, the Scarborough Family acquired one hundred percent of the Atlantic Coast Life stock and the company began an era of success and growth that has spanned nearly ten decades. When Mr. Y. W. Scarborough passed away in 1956,  the responsibility of leadership was passed  to his son, Y. W. Scarborough, Jr., then to R. B. Scarborough in 1989, and then to Y.W. “Bill” Scarborough, III, in 1995.  Wallace B. Scarborough served as President from 2013 to 2015.

In the mid 90’s their Home Service Distribution peaked, and the company’s growth slowed significantly. Y.W. “Bill” Scarborough had the vision to dramatically change the company’s distribution strategy and focused most of the company’s efforts and resources to launch a new distribution arm to reinvigorate sales and growth. 

This decision transformed the course of Atlantic Coast Life’s voyage into the future. The Preneed Division set sail in August of 2003.  In 2005, after 18 months of success, above our expectations, they began to expand the Preneed Division into nine neighboring Southeastern states.  

By 2008, we were known throughout the Southeast as a serious competitor and as a growing presence in the Preneed marketplace.

In 2015, Advantage Capital purchased Atlantic Coast Life from the Scarborough Family and Y. W. Scarborough returned to the position of president.  Growth, expansion, and success has multiplied.  

Atlantic Coast began an intense expansion that has helped them spread across the country!  The new ownership has guided them into the Annuity Marketplace. Today they offer some of the best fixed annuity rates available anywhere.

Atlantic Coast Life's Annuity Products

Annuity Product Overview

Atlantic Coast Life Insurance Company’s Fixed Index Annuities offer two market indexes to choose from: 

  • S&P 500
  • THE GOLDMAN SACHS AGING OF AMERICA DYNAMIC BALANCE INDEX, CREATED BY GOLDMAN SACHS & CO. LLC
While the S&P 500 is available in almost every Index Annuity the Goldman Sachs Aging of America Dynamic Balance Index is unique to Atlantic Coast Life Insurance Company.

As Baby Boomers age, seniors make up an increasingly large portion of Americans, resulting in long-term increased demand for products and services geared towards managing seniors’ health and lifestyle.

 

Goldman Sachs Aging of America Dynamic Balance Index

Created by Goldman Sachs & Co. LLC, the Index, dynamically allocates to equities, as represented by the Aging of America Index and U.S. fixed income, as represented by the 10-Year U.S. Treasury Rolling Futures Index. 

The Aging of America index seeks to provide targeted exposure to companies in the healthcare and real estate sectors that may benefit from the growth in the older population in the United States. 

Such segments can include Cancer Care, Cardiovascular Care, Orthopedic Care, Diabetes Care, Medicare Insurers, and Assisted Living.  Exposure to 10- Year U.S. Treasury Rolling Futures Index, a known fixed-income benchmark, is based on a daily observed momentum signal. 

The Goldman Sachs index includes a volatility control feature seeking to generate more stable, smooth returns over time.

Index Composition

The Goldman Sachs Aging of America Dynamic Balance Index is comprised of:

  • U.S. Equities (and American Depositary Receipts, or ADRs) represented by the Aging of America Index
  •  U.S. fixed income, represented by 10-Year U.S. Treasury Rolling Futures Index

* An allocation above 100% represents leveraged exposure to the Index.

Volatility Control Index

The index is a rules-based methodology that seeks to provide dynamic exposure to the equity and fixed income components. Risk is monitored daily, and re-balancing generally results in higher weighting in components with lower historical volatility and less weight to those with higher historical volatility.  

The index has a 5% volatility cap and to the extent, the volatility cap is exceeded, the money market allocation is increased.  The index is calculated on an excess return basis.

Retirement Plus MultiplierSM offers two index accounts based on the Goldman Sachs Aging of America Dynamic Balance Index:

When you allocate your annuity’s funds to either account, the index’s positive performance will generate index credits or interest that will add to the value of your annuity. Your annuity is not directly invested in the Index or its underlying components.

Atlantic Coast Life Leadership

Officers

Kenneth King – Chairman
Daniel B. Cathcart – Chief Executive Officer
Charles E. Sanders – President
Douglas Anthony George – Executive Vice President of Business Development
George Cox Scarborough – Senior Vice President and Secretary
Sabrina Lemos – Treasurer

Board of Directors

Kenneth King – Chairman
Daniel B. Cathcart – CEO
Douglas Anthony George
Y.W. Scarborough III
Robert Saliba

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