Horace Mann Life Insurance

Horace Mann Life Insurance is the largest insurance company serving primarily educators and their families. They are a multi-line insurance company offering auto, property, life, disability, and long-term care insurance, as well as financial services such as annuities and mutual funds among others.

Company History

Started by two teachers in Springfield, Illinois, in 1945, Horace Mann was originally named the Illinois Education Association Mutual Insurance Co. and offered only auto insurance. Later, the company changed its name to Horace Mann in honor of the father of the American public education system and to symbolize their dedication to serving educators.

Over time, Horace Mann expanded their services to other states and began offering more insurance policies. In 1961, the company moved into the financial sector by offering annuities. In 1975, Horace Mann was acquired by the INA Corp., which in 1982 merged with Connecticut General Corp. to form CIGNA. Two years after being acquired from CIGNA by an investor group, in 1991, Horace Mann (HMN) went public at $18 per share. Managing more than $4 billion in assets, Horace Mann claims to be the largest multi-line insurance company serving teachers and their families today.

Company Ratings

Horace Mann holds high ratings: A.M. Best, Standard & Poor's and Fitch all give Horace Mann an A or A- for all of their insurance services. Moody's gives the company an A3 across the board. According to consumer reviews, Horace Mann doesn't fare as well with over 50 percent of customers being to some degree unsatisfied with their service.