Security Mutual Life Insurance Company

Security Mutual Life Insurance Company
Binghamton, NY 13902-1625

Established in November 13, 1896 by Charles M. Turner as a mutual life insurance company, it went under the name of Security Mutual Life Association. The Company’s primarily intention and goal was to provide high quality insurance at very affordable prices. In 1889, Security Mututal Life Association became the first insurance company to offer and provide disability benefits nationwide. On April 22, 1898, the name was changed to Security Mutual Life Insurance Company. From $15,000 in total assets in its first year of operations, the Company has grown and is now considered one of the largest insurance providers in the country with over $2.4 billion in assets and $30.4 billion life insurance policies in force.

With headquarters in New York and offices around the country, The Company is authorized to conduct business in all 50 states including the District of Columbia, U.S Virgin Islands and Puerto Rico under the regulation of the New York State Insurance Department. Security Mutual Life Insurance offers competitive insurance products and services backed by a tradition of service excellence. The Company markets Group, Individual Life and Disability plans as well as Life Annuity policies. In addition, the company also offers estate planning and corporate owned life insurance for any individual targeting personal and business needs of professionals and business owners.

The A.M. Best Co. assigned an “A-” (Excellent) rating to Security Life Insurance Company with stable outlook. This rating mirrors the balance, financial strength, sound operating performance and market profile and the ability to meet all financial responsibilities to its policy holders. The “A-” rating is fourth highest on A.M. Best’s 15-level rating scale. The Company has also been awarded a “Best’s Security Icon” in recognition of its secure rating. This special symbol helps consumers recognize industry leaders at a glance and represents A.M. Best’s opinion of an insurer’s ability to meet their on-going financial commitments to policyholders. The Company’s sturdy performance signifies the cumulative result of many steps undertaken. The Company made significant progress to successfully position itself to flourish and grow throughout the new century.

Bruce W. Boyea is the Company’s Chairman of the Board, President and Chief Executive Officer. Willard N. Archie serves as the Vice-Chairman. Ray F. Barnard is the Company’s Executive Vice-President & Chief Information Officer. Carson E. Beadle is a Managing Partner. Maxine Frank, serves as the Senior Vice-President, Chief Legal Officer & General Counsel. Other Board members include: Maria Ramirez ,Daryl R. Forsythe, Hugh A. Johnson, Jr., Robert H. Linn, Alan C. Marcus, James W. Orband, Esq., Howell M. Palmer, Thomas A. Pearson and Robert E. Sadler, Jr.

Security Mutual Life’s mission is built on the same values upon which the Company was founded upon; and that is to provide affordable and competitive financial protection. Over the years, Security Life has weathered many difficult challenges, from pandemics and depressions to wars, recessions and the health care crisis. The Company surpassed these difficulties because of its solid business and financial soundness, its quality of service, just treatment of policyholders, professional distributors and its dedication and commitment to provide the highest quality of service.