Horace Mann Life Insurance Company
Founded by Educators for Educators
The Horace Mann Life Insurance Company was founded in 1949 by two teachers. Originally an automobile insurance company, the firm has expanded to include a full array of financial products for the modern educator. The Horace Mann Life Insurance Company is a member of the Horace Mann Group, along with its sister subsidiaries, Teachers Insurance Company, Horace Mann Insurance Company, Horace Mann Property & Casualty Insurance Company, and the Horace Mann Educator Benefits Consulting Corporation. Horace Mann Life has total assets of $4 billion, with net life insurance of $13.3 billion, and is the largest insurer of educators in the US. It is available in most states.
Horace Mann Life Insurance Plans
Horace Mann Life Insurance Company offers term life insurance and whole life insurance products, as well as a flexible life product that allows a combination of term life, interest-sensitive whole life, and an interest-bearing account. The term life product has the following features:
- Ideal for defined periods like while a child is young or there is a mortgage.
- Special rates for young teachers
- Death benefit is guaranteed to remain level, but if the term policy lapses, there is no death benefit.
- Less expensive than whole life products
- No cash value is built up.
- There are varying lengths or terms of coverage. (Coverage is for a specified time, not for an entire life.)
- The older the insured, the higher the premiums
- Policy may be renewable without a medical exam.
- Options are available to convert to permanent insurance without a medical exam.
Financial Ratings for Horace Mann
A.M. Best: A-
Fitch: A
Standard and Poor’s: A
The financial strength of a company and potential for prolonged survival are represented by the above ratings.
Horace Mann Company Information
One Horace Mann Plaza
Springfield, IL 62715
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