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Frank L. Gillespie

Liberty Life Insurance

1919 - 1925

Finance

1910 b. 1876
male
Personal
Born-Died1876 - 1925
BirthplaceArkansas (AR)
RaceBlack or African American
Era - 1910

Having worked in a large, successful white insurance firm, Gillespie saw the need to bring better insurance services to Chicagoís black community and founded Liberty Life in 1919. Unlike other insurance firms, Liberty Life was the first to offer whole life insurance, rather than industrial policies, capitalizing on the growing prosperity of the cityís black families. Though it took several years to collect enough funds to manage all of the firmís expenses, by 1925 Liberty Life had admitted assets of $495,000 and over $8 million of insurance in force.