The Franklin Life Insurance Company was founded in 1884 in Springfield, Illinois, and its 1913 headquarters building still stands on Sixth Street and Lawrence Avenue in Springfield, according to Sangamon County Historical Society. Franklin was bought out several times, so it is not possible to locate the original company itself.Continue Reading
Franklin Life Insurance Company's 1913 headquarters building expanded several times, eventually filling an entire city block in Springfield, states the State Journal-Register. The Illinois State Police occupy the Franklin buildings, as of 2008. The square footage of the buildings totals 375,000 square feet. The buildings include offices and an apartment building in the modernist style, originally intended for executives, according to the Sangamon County Historical Society. The complex is still known as Franklin Square, as of 2012.
Franklin operated independently for 95 years before it was acquired by American Brands in 1979, states the Sangamon County Historical Society. The original company founders offered life insurance policies of $3,000 per person to men between the ages of 25 and 65 who could pass a medical exam. Franklin was sold to American General Corp in 1995 for $1.2 billion, and AIG bought American General in 2001, according to the State Journal-Register. As of 1991, the Franklin's owners employed 1,300 people in Springfield. When AIG moved their operations to a new building in 2008, the company employed about 400 people, according to the State Journal-Register.Learn more about Insurance