Who Is Security Mutual Life Insurance Company?
Security Mutual Life Insurance Company (Security Mutual) is a community‑based, mutual insurance company headquartered in Lincoln, Nebraska. Founded in 1957, it has grown to serve more than 80,000 members across the United States while maintaining its local roots and commitment to customer service.
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History and Milestones
Security Mutual began as a small group of Lincoln residents who wanted to provide affordable life insurance to their community. Over the decades, it expanded its product line and geographic reach. Key milestones include:
- 1957 – Company founded in Lincoln, Nebraska.
- 1974 – First mutual life policy issued.
- 1995 – Expanded nationwide distribution through independent agents.
- 2010 – Introduced digital policy management platform.
- 2020 – Achieved A− rating from A.M. Best for financial strength.
Products and Services
Security Mutual offers a range of life insurance products tailored to different life stages and financial goals:
- Term Life Insurance – Fixed-term coverage with competitive rates.
- Whole Life Insurance – Permanent coverage with cash value accumulation.
- Universal Life Insurance – Flexible premiums and adjustable death benefit.
- Group Life Insurance – Employer‑sponsored plans for small businesses.
Financial Strength and Ratings
Financial stability is crucial for any life insurer. Security Mutual's ratings reflect its solid capital base and prudent management:
| Metric | Value | Source |
|---|---|---|
| Capital Adequacy Ratio | 3.8x | A.M. Best |
| Debt‑to‑Equity Ratio | 0.45 | Company Annual Report |
| Policyholder Dividend Yield | 3.2% | Company Investor Relations |
Customer Experience and Support
Security Mutual emphasizes personalized service through its network of independent agents and robust online portal. Key features include:
- 24/7 customer support hotline.
- Mobile app for policy management.
- Annual financial wellness webinars.
Community Involvement and Corporate Responsibility
Rooted in Lincoln, the company actively supports local initiatives such as the Lincoln Community Fund, scholarships for Nebraska students, and disaster relief efforts.
How to Get a Policy
Prospective customers can obtain a quote online, visit a local agent, or call the customer service line. The application process typically takes 15–30 minutes and requires basic personal and financial information.
FAQs
Q: Is Security Mutual a mutual company?
A: Yes, it is owned by its policyholders, not shareholders.
Q: Does Security Mutual offer riders?
A: Yes, riders such as accelerated death benefit and disability income are available.