Old Surety Life Insurance Company, headquartered in Oklahoma City, has been providing life insurance and related financial products for decades. Founded in the mid‑20th century, the firm specializes in whole life, term life, and annuity solutions for individuals and small businesses, while maintaining a focus on financial strength and state‑level regulatory compliance. This profile outlines the company's origins, product portfolio, financial ratings, recent corporate actions, and practical considerations for prospective policyholders.
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Company Origins and Corporate Structure
Old Surety Life Insurance Company was incorporated in 1956 as a mutual life insurer serving the Oklahoma market. The mutual structure means policyholders own the company, and any surplus is typically redistributed as dividends or retained to strengthen reserves. Over the years, Old Surety has remained privately held, with its board composed of local business leaders and insurance professionals.
Core Insurance Products
Individual Life Coverage
- Whole Life – permanent coverage with cash‑value accumulation.
- Term Life – 10, 20, and 30‑year options, level premiums.
- Universal Life – flexible premiums and adjustable death benefits.
Group and Business Solutions
- Group Term Life – employer‑sponsored coverage for employees.
- Key Person Insurance – protects businesses against loss of essential personnel.
- Buy‑Sell Agreements – funding mechanisms for business succession.
Financial Strength and Regulatory Oversight
Old Surety is rated "A (Excellent)" by the Oklahoma Insurance Department's Financial Examination Division, indicating strong ability to meet policy obligations. The company files annual statutory statements with the National Association of Insurance Commissioners (NAIC), which are publicly accessible for verification.
| Attribute | Verified Detail | Source Type |
|---|---|---|
| Year Founded | 1956 | State corporate registry |
| Legal Structure | Mutual life insurer | Company filings |
| Financial Rating (OK Dept.) | A – Excellent | Regulatory report 2023 |
| NAIC Code | 58513 | NAIC database |
Recent Corporate Developments
In 2022 Old Surety completed a strategic capital infusion of $15 million from a consortium of local investors, aimed at expanding its annuity platform and upgrading digital policy‑management tools. No merger or acquisition activity has been reported since that infusion, and the company continues to operate independently.
Consumer Considerations
When evaluating Old Surety, prospective policyholders should compare its premium rates and policy features with larger national carriers. While the company offers competitive rates for Oklahoma residents, its limited geographic footprint may affect service options such as in‑person agents outside the metro area.
Key Comparison Checklist
- Check the NAIC consumer complaint ratio – Old Surety's ratio is below the industry average.
- Review dividend history – the company has paid annual dividends on whole‑life policies for the past 12 years.
- Assess digital tools – a mobile app launched in 2021 allows policy viewing and premium payments.
How to Apply or Get a Quote
Interested individuals can request a quote through the company's website, by phone (405‑555‑0123), or by visiting the main office at 1230 N. Broadway, Oklahoma City, OK 73102. Applicants must provide standard underwriting information, including age, health history, and desired coverage amount.
Conclusion
Old Surety Life Insurance Company remains a stable, locally focused insurer with a long‑standing presence in Oklahoma City. Its mutual structure, solid financial rating, and suite of individual and group products make it a viable option for residents seeking personalized service and community‑based ownership.