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Beneficial Life Insurance Company
The Beneficial Life Insurance Company is values-driven, with a conservative investment policy. Their goal has always been to strengthen and preserve families. This company was founded in 1905, with Joseph F. Smith as its first president. It has grown to serve people all over the world. Beneficial Life is a proud member of the IMSA, and has always striven to be honest, principled, secure, and accountable. The company has total assets of $2.86 billion, with net life insurance of $30.6 billion.
The Beneficial Life Insurance Company has a variety of term plans, for groups and individuals. Their basic group term life insurance includes accidental death and dismemberment benefits. It is flexible, and can be written to your company’s needs.
- Level premiums
- Face value is a multiple of the employee’s earnings
- There are earnings and occupational classifications
- Face value amounts up to $500,000, depending on group size
- Guaranteed conversion privilege at termination or retirement
- Waiver of premium disability benefit
- Will cover active employees after age 65
- Spouse and dependent child coverage
Beneficial Life has two voluntary term life plans; one is for groups and one is for individuals not covered by a group plan. They both include the following:
- Employee-elected amounts ($10,000 to $500,000 for individuals and $20,000 to $1 million for groups)
- Rates based on tobacco use
- Spouse coverage up to $250,000, but must not exceed employee’s amount
Beneficial Life Ratings
A.M. Best: A
Ward’s: Named in top 50 companies in 2003
The financial strength of a company and potential for prolonged survival are represented by the above ratings.
Beneficial Life Company Information
36 South State Street, Suite 2600
Salt Lake City, Utah 84136
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