Beyond Medicare supplements: The State Mutual Insurance difference

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Established in 1936, State Mutual Insurance has been owned by its policyholders and run for their benefit for the entirety of its history. It is a legal reserve mutual insurer, headquartered in Rome, GA, and conducts business in 41 states and the District of Columbia. At present, the company's primary product is Medicare supplement insurance, a standardized insurance plan that covers for key costs not included in Medicare.

Over the many decades of its operation, the company has remained true to its roots, notably in being dedicated to community service, following its founding by a group of friends. The soul of the business is in providing both quality and competitively priced products and outstanding service to its policyholders. It has an exemplary record of disbursing benefits. Since 1985 it has paid approximately:

• $198,000,000 on dividends or 88% of earnings,
• $178,000,000 on death Benefits, and
• $307,000,000 on other Living Benefits.

At present, it has more than $392 million worth of assets, of which almost $30 million are surplus.

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Today, State Mutual continues to give its policy holders competitive rates by reducing company expenses and improving efficiency and service. It has transferred most of the administration of its policies to its Florida-based operational center, which handles everything from policy underwriting and issue, policyholder service, and claims payment.

Furthermore, the company has an electronic application process, which increases operational efficiency and reduces processing cost. The savings from the streamlined process are then passed along to applicants.

Lastly, the company offers its products direct to consumers, eliminating costs traditionally associated with the sale of insurance policies.

The company is a registered member of LIMRA, LOMA, and the American Council of Life Insurers.

For more on the history of State Mutual Insurance and details on its coverage plans, visit this website.