Mutual of America Insurance Company
Mutual of America Insurance Company
320 Park Avenue
New York, NY 10022-6839
Mutual of America Life Insurance Company is an insurance provider based in New York, New York. A Fortune 1000 mutual company, Mutual of America is ranked on the Forbes 500 list as the tenth largest insurance company in the United States. Founded in 1945, Mutual of America has specialized in providing retirement products and related services to private individuals and organizations as well as their employees for over 60 years. The company is licensed to do business in all 50 states and the District of Columbia.
Mutual of America provides variable universal life insurance, group life insurance and disability insurance products. The company also offers pension and retirement-related products and services. Furthermore, it provides products and services for employee benefit plans of non-profit organizations and corporations including their employees. Life insurance and retirement products are also available to individuals, and mutual funds to institutional investors are part of their benefits. Mutual of America distributes its products and provides customer support through consultants located in its main office and in 36 regional offices located across the United States.
As a mutual company, Mutual of America does not have stockholders and are not publicly traded. The company functions exclusively for the benefit of customers—for long-term interest rather than short-term demands of stockholders. Integrity, reliability and prudence are the core values that guide the company in keeping its commitment to grant carefully selected, quality products and services at a competitive price and the personal attention clients need to help build and preserve assets for a financially secure future.
Such personal attention is provided by keeping close to clients. This is why the Mutual of America’s regional offices were established to guarantee that its service representatives and salaried consultants are near to the people they serve. The company is also designed to provide clients with unrivalled level of service by offering access to account and benefit plan information and services through phone, Internet or professional regional representatives. Clients can enjoy the expanding online services of the company, including the ability to manage accounts and employee benefit plans, download documents, learn about investing and retirement savings products, and check market conditions as well as the performance of separate account funds.
The company’s financial strength is affirmed by the ratings of major independent rating agencies in the country. The combination of asset quality, asset strength and the liquidity to meet clients’ retirement needs puts Mutual of America among the strongest companies in the industry today. As of January 2010, Mutual of America has a rating of A+ or superior from A.M. Best. This rating is given to companies that have, on balance, superior balance sheet strength, operating performance and business profile, owning a very strong ability to meet ongoing obligations to policyholders. Mutual of America’s rating from A.M. Best reflects its strong risk-adjusted capitalization, conservative and less volatile general account investment portfolio, niche market position in the retirement and pension plan segments. As of July 2009, Mutual of America received an AA- or very strong rating from Fitch. Furthermore, Standard & Poor’s rating to Mutual of America is AA- or very strong as of September 2010. Generating revenue of over $1,713 million, the company continues to have a strong niche competitive position as a small group pension product provider, extreme strong capitalization, strong financial flexibility and consistent strong growth in its target market.
Mutual of America is headed by chief executive officer Thomas Moran.