Growth pains pinch Aid Association for Lutherans. (fraternal benefit organization) (Nifty 50: Wisconsin's Largest Private Companies) (company profile)

Growth pains pinch Aid Association for Lutherans

Aid Association for Lutherans, Appleton, is in the final phase of an innovative downsizing program created to deal with explosive growth that occurred between 1982 and 1986.

In 1982, AAL was one of the first insurance companies to offer an interest-sensitive universal life plan with flexible premiums and death benefits. The product enabled consumers to take advantage of the high interest rates of the early 1980s.

During the past decade, the company's assets have increased rapidly, rising from $3 billion in 1982 to $7.6 billion in 1989. The transition caused some "growing pains," said Richard Gunderson, …