Arthur L. Williams, Jr.
| Arthur L. Williams Jr. | |
|---|---|
| Born |
April 23, 1942 Cairo, Georgia |
| Occupation | Retired |
| Net worth | (2008) |
| Title | Founder, CEO chairman of A.L. Williams Corporation |
| Spouse(s) | Angela Williams |
| Children | 2 |
| Website | Art Williams |
Arthur L. "Art" Williams Jr. is an insurance executive living in Palm Beach, Florida. He is the founder of A.L. Williams & Associates, known as Primerica Financial Services since 1991.
Born on April 26, 1942 in Cairo, Georgia. He obtained his bachelor's degree in arts and sciences at Mississippi State University in Starkville, Mississippi and his master's degree in science from Auburn University. From his early days in high school, Art always aspired to be a professional football coach.
In 1965, Williams's father suddenly died of a heart attack. He had a whole life insurance policy that left their family underinsured. Five years later Art Williams's cousin Ted Harrison introduced to him the concept of term life insurance, a much less expensive and simpler alternative to whole life which at that time was almost never sold and rarely heard of outside the insurance industry. Williams was taken aback by the idea of not knowing that there was a choice when buying life insurance and described the whole conversation as "disturbing," recalling his father's death and referring to the fact that people had no idea of such a product. Believing that families were paying too much for whole life policies that left them poor in the wallet and deeply underinsured, Williams joined his cousin at ITT Financial Services in 1970. In June 1973, six months before ITT went out of business, he left and went on board with Waddell & Reed, another BTID company that saw early success.
Williams gained momentum at W&R and became regional vice-president (RVP) the same year, having a sales force that covered 6 states. Despite the numerous benefits of working at W&R in comparison to ITT, it became clear to Williams that with a corporate structure in which the executives, not the sales force, owned the company, financial decisions would always have priority over the clients and there would be limits on how much the company could grow.
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