Security Mutual Life
Free Insurance Quote Comparison
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
UPDATED: Aug 20, 2020
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.
- National Security Life & Annuity Co.
Company History: Founded 1887, Binghamton, NY, Security Mutual Life was the first insurance company in the U.S. to offer Disability coverage. As of December, 2006, it had paid a client dividend for 114 consecutive years. The current name was adopted in 1960. Although it is licensed in all 50 states as well as the District of Columbia, Puerto Rico and the U.S. Virgin Islands, Security Mutual Life Insurance Company of New York does over half of its business in New York state and almost 20% more in the 3 adjoining states of New Jersey (11%), Connecticut (5%) and Pennsylvania (4%). A 2004 plan to demutualize and be acquired was dropped because of regulatory objections from New York state. Over three quarters of direct premiums are derived from ordinary life insurance, primarily whole life, universal life and term life. Other products include fixed annuities, group life and disability. A joint venture with Ohio National (of Cincinnati) began offering variable life and variable annuity products in 2003 through a jointly owned subsidiary. Security Mutual sells through general agents, personal producing general agents and brokers as well as through worksite sales of whole life insurance which is distributed through employers and employer sponsored credit unions.
Principle Sales Methods: Independent agents and brokers.Worksite sales of whole life insurance.
Life Annuity Business: Security Mutual Life sells Individual and Group Life and Disability plans, plus Annuity policies. In addition to the sales of whole life insurance at the worksite, Security Mutual Life Insurance Company of New York targets personal and business needs of business owners and professionals, especially estate planning and corporate owned life insurance.
No comments at this time...