North Carolina Mutual Life Insurance Company

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North Carolina Mutual Life Insurance Company is one of the most recognized businesses in America. Its charter dates back to before 1900, and its first motto was "merciful to all." As a result, North Carolina Mutual has spent time and resources on the economic and social development of the community. Founded by seven African American men who were active civic leaders, the company contnues primarily to serve the large and varied needs of the African American community.

As part of the business, North Carolina Mutual Life understands that consumers are concerned about their financial security and that of their loved ones. With this in mind they offer several life insurance products with various benefits.

The main life insurance products are

• Platinum Plus Whole Life which offers long-term protection in the event of death or a catastrophic event,
• 10 and 15 year Term Life Insurance plans with guaranteed rates and the option to convert to a whole of life plan without medical evidence, and
• Preferences® Pre-Need Insurance which provides for funeral arrangement and expenses

North Carolina Mutual provides products for companies as well. The group life insurance policies include whole life and basic term products to employers. North Carolina Mutual also provides all the underwriting and administration so employees have peace of mind in their difficult times.

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Company Background

North Carolina Mutual Life was founded in 1898, and today it is one of the largest and oldest African American life insurance companies in America. North Caroline Mutual conducts business in 24 states and the District of Columbia. Financially, the company has over $12 billion of in force plans and a surplus that exceeds $18 million.

In addition to providing life insurance products the company has introduced several programs which provide jobs, loans, investments and other forms of support to the community.

North Carolina Mutual Life Ratings

• A.M. Best: BB+
• Fitch's: Bq

Note: Fitch's Q ratings differ from traditional Fitch ratings in that they are determined by examination of financial statements only rather than the more typically comprehensive review of qualitative and quantitative factors.