Sam Lane Awarded for Lifetime Achievement
Congratulations to Sam Lane, founder and chairman of Fairlane Financial Corp. who was awarded NAFA’s prestigious Bo Johnson Spirit Award for Lifetime Achievement on October 15, 2014. NAFA recognized Sam for his lifetime of dedication to the fixed annuity industry.
Sam helped pioneer the national distribution of fixed annuities through independently licensed brokers. He coined the phrase “National Marketing Company” and was responsible for setting the stage for Life companies to manufacture insurance products, then delegate their distribution to marketing specialists.
The video of Sam’s acceptance speech which was presented at NAFA’s annual IMO Summit is available above.
Born Samuel Rufus Lane on November 16, 1922 in a nondescript backwoods town named Felsenthal, Arkansas. In order to get three meals a day, Sam tried to enlist into the Armed Forces but was too skinny. Finally, a recruiter friend of Sam’s sister fudged his weight to comply with the minimum acceptable requirements. Here are some key dates in Sam’s life:
|1941||Enlisted in the United States Marine Corps, fought in the Battle of Guadalcanal, made Master Sergeant Rank in 3 years|
|1944||Developed the first after-hours sandwich business for soldiers at Camp Lejeune|
|1947||Started one of the first television/electronics businesses in Chicago, IL|
|1953||Relocated to South Florida to retire, but developed two amusement businesses instead|
|1955||Started Fairlane Financial Corp. as an investment company|
|1960||Entered into the insurance business as a sales consultant|
|1966||Sat for the National Actuary Exam|
|1971||Became Sales Director for National Trust Life|
|1973||Became partner in Funding, Inc., a mutual fund / life insurance conglomerate|
|1976||Developed the first NMO, National Marketing Organization for life insurance carriers|
|1980||Began developing annuity products for independent life carriers, recruiting 20,000 agents|
|1990||Turned the daily operation over to his son Ronald J. Lane and grandson Ronald D. Lane. Consulted with carriers on product development and policy owner services, as well as procedures to enhance underwriting, issue and commission areas|
Sam remains CEO/Chairman of Fairlane Financial Corp. He looks forward to the company’s 60th Anniversary in 2015: Fairlane’s Diamond Jubilee. Sam continues to consult with staff and is in the office by 8:30am on most days. On other days, he enjoys spending time with Lucille, his wife of 72 years.