“An anniversary is a time to celebrate the joys of today, the memories of yesterday, and the hopes of tomorrow.” On July 24th, we celebrate the memories of yesterday’s pioneers entering the Wasatch Valley, initiated by Brigham Young exclaiming “This is the right place!” Our July/August issue’s cover image reflects the journey to “the right place, re-enacted by a few hearty Phoenix-area members of the Church. In keeping with such as celebratory spirit, we honor two LDS couples who commemorate 70 years of marriage here in our pioneer-established community.
American Savings Life Insurance Company, headquartered in Mesa, honored Frihoff Grant Allen for his 44 years of service in the company. Grant, as he was known, passed away in 2018 and the award was bestowed posthumously to his wife, Tiffany Allen.
American Savings Life Insurance Company opened its doors in 1954. Grant played an important part in the company by designing a computer program specifically for insurance that was ahead of its time. The computer system filled two entire rooms and Grant obtained several patents on his programs.
The company, created by the patriarch of the family, Frihoff Allen, began in Frihoff Allen’s home. They then moved to a building in Mesa where they had two desks, one large table and a makeshift work table fashioned out of plywood perched atop screw-on legs.
Byron Frihoff Allen, grandson of Frihoff Allen and current President/CEO of American Savings Life Insurance, says, “Okay, so maybe the space was less than ideal, but it was practical and allowed the employees there to work closely with one another, becoming a tight-knit team. Plus, it saved them some serious dough.”
American Savings Life Insurance Company has remained in the Allen family and is now a three-generation company.
The company now serves twelve states from the entire West Coast to Texas.
“American Savings Life is able to profitably pay higher rates than the competition in large part due to our low overhead business model. ASL was founded on principles of frugality and conservatism which continue to be our guiding principles today,” reads the ASL website.
“We have two parts to our business. American Savings Life Insurance Company sells insurance and annuities, but we also do commercial real estate loans,” says Byron Allen. “We sell very competitive annuities with fixed interest rates up to 4.25%. Our youth life plan is a children’s life insurance plan that only costs $25 per year for a $10,000 policy with 4.0% interest on additional funds without any withdrawal penalties and restrictions.”
Byron Allen added, “We offer a guaranteed interest contract which currently pays 2.5% interest on funds deposited. There are no fees whatsoever as long as the funds stay in the account for one year or longer.”
A new life insurance plan called “Remembrance” will soon be offered. The program will make it “an easy and efficient way to maximize & transfer money to spouse, children or charities,” says Allen.
Regarding commercial real estate loans, Byron Allen says, “Our trademarked ‘Not So Hard MoneyTM’ loans fill a unique niche for commercial real estate owners who can’t get a bank loan but want a better loan than a typical hard money loan. We are in between—easier to qualify than a bank loan and better loan terms and lower interest rates than typical hard money loans.
American Life Insurance Company is in the heart of Mesa at 935 E Main Street. Contact them at (800) 880-2112 or online: https://www.americansavingslife.com