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Western Reserve

WRL Term Plus Now Available for Stonebridge Distributors

Very competitive rates 

More liberal qualification for Preferred Risks 

Life Professionals WRL Business will be processed in Cedar Rapids.You will be dealing with the same underwriting, licensing, and commission teams for both WRL and Stonebridge.
Licensing: Agents who are licensed with Stonebridge can start submitting WRL business. Use your Stonebridge agent number

Pending Status of your WRL business will be available on ANI utilizing your current Stonebridge login.
Illustration Software: The WRL term software will be available on ANI and CD's will be available from the supply department.

Western Reserve Life History

Explore our fascinating past


1957 to 1959

I like Ike button

Picture America back in the late 1950s. Elvis was King. Eisenhower was president. The economy was booming. And the nation needed insurance to secure that growing wealth.

Bill Callaghan

Young Bill Callaghan saw that need first hand. As an agent working at the family property and casualty insurance agency in Ohio, Bill Callaghan knew that he could make a difference in people's lives by providing them with financial security. Armed with an entrepreneurial spirit and the courage to work smart and hard, Mr. Callaghan dedicated himself to raising the capital necessary to build a better insurance company. Some 323 Cleveland investors took a chance and bought the stock at $5 a share.

In November of 1958, Western Reserve Life Assurance Co. of Ohio was founded. The company name was taken from the large territory in northeast Ohio known during the Pre-Revolutionary war days as the "Western Reserve".

1960s - A Pioneering Decade

Measured growth became rapid expansion as WRL acquired other small insurance companies and their blocks of business. By the end of 1962, the company was able to conduct business in five states.

Also in 1962, a major milestone occurred when Jack Kenney joined Western Reserve Life as Director of Marketing. Over the course of the next three decades, Mr. Kenney would be named Chairman and Chief Executive Officer, leading WRL to become one of the nation's top providers of annuities and variable universal life insurance.
By the mid-1960s, evolving customer needs were beginning to dictate a change in financial products. As part of their financial planning, more and more Americans were learning about the possibility of rewards from the stock market. Mutual funds were emerging as a popular financial instrument. However, consumers were hard pressed to afford both the premiums on traditional, whole-life insurance and investments in mutual funds. It seemed like an either-or situation: either the security provided by life insurance or the growth potential provided by the stock market, but not both. WRL pioneered the solution to this dilemma with the introduction of a new marketing concept, The Balanced Program. The Balanced Program gave consumers the power to enjoy the cost-effective security of term life insurance and the growth potential of mutual funds with a single check.

For the concept to work, WRL had to create a Broker/Dealer network of representatives licensed to sell insurance and mutual funds. Thus, in 1967, Western Reserve Financial Services was formed. But one more piece of the puzzle was missing: a mutual fund. In 1968, key stockholders of Pioneer Management Company, investment advisor to the nation's second oldest fund group, the Pioneer Funds, agreed to a business venture with Western Reserve Life. The resulting holding company was called Pioneer-Western Corporation.
The decade ended with WRL's move to Florida. The move established the foundation for even more profitable growth.

1970 to 1985 - Divestitures, Partnerships, and Acquisitions, oh my!

The next fifteen years would bring much change. During this period, WRL spun off from Pioneer-Western Corporation, was bought then sold by a railway conglomerate and a child care corporation, and expanded its portfolio of financial products.

Throughout it all, WRL continued to prosper. By the mid-70s, barely 16 years after its birth, the company achieved $1 billion of life insurance in force. The second billion came only two years thereafter. This phenomenal growth was a direct result of the success of the company's innovative products.

Indeed, the Balanced Program was well established, but while the sales force continued to sell the Pioneer Fund, WRL no longer owned the management company. The search was on to acquire a new fund management company. In 1985, WRL's search bore fruit. Janus Capital enjoyed a great track record, but at the same time had no sales force and minimal assets. Our parent company launched a joint venture with Janus, and in June 1985, the IDEX Fund was launched.

At WRL, it was business as usual: sales were booming and there was yet another revolutionary product around the corner.

1986 to Present - Growth

Original Flame

Western Reserve Life's first variable universal life insurance product was launched in 1986. This revolutionary product gave consumers all the benefits of life insurance along with the flexibility to choose among investment options, ranging from the lower risk-lower return potential of bonds to the higher risk-higher return potential of equities. And consumers could enjoy any growth of their cash value on a tax-deferred basis. WRL's first annuity was introduced shortly thereafter. Sales soared.

In 1991, Jack Kenney went searching for a corporate parent with the insurance roots, capital, flexibility, and vision to appreciate WRL's specialty: annuities and variable universal life insurance.

WRL Life Insurance in Force

Happily for us all, a deal was struck. In February of 1991, WRL became a member of the AEGON insurance group. It took WRL 20 years to achieve the first billion dollars of life insurance in force. In just the last eight years, our life insurance in force has increased over seven-fold to over $62 billion.

In 1998, WRL became a member of the Insurance Marketplace Standards Association (IMSA), a voluntary membership organization whose purpose is to promote high ethical standards in the sale of individual life insurance and annuities. WRL capped off the year by moving into a beautiful new building in sunny St. Petersburg, Florida.

Today, Western Reserve Life continues its leadership and innovation in the financial services industry on the strength of its history, its products, and its people.