Mission Life Insurance
Company of America -
Life Insurance Company of America
greatest success stories many times start with modest expectations.
Such is the case of Mission Life Insurance Company of America.
The History of Mission Life Insurance Company of America
roots of Mission Life Insurance Company of America began back
in 1939. That year J. B. Earthman, the father of Michael and
Donald Earthman, established a small burial insurance company
in Houston, Texas. The company grew steadily through the 50's,
60's, and 70's as a home service insurance company. Michael
and Donald joined their father's insurance company in the
late 60's. In 1978 the Earthman boys formulated a new way
of funding preneed funeral contracts, which up until that
time was strictly bank deposit funded. They combined a guaranteed
growth life insurance policy with a preneed contract. This
new form of insurance -funded preneed opened a new age of
sales and growth for their company throughout the nation.
These same insurance products have evolved into a great stand-alone
insurance policy for the Senior markets.
was a landmark year for Mission Life of America. Sales shattered
the $100 million mark with approximately 30,000 new policies
being issued mostly on senior citizens, in 18 states. Mission
Life of America's momentum is unstoppable and, with the new
financial alliance with Swiss Re, Mission Life of America's
capacity to grow is unlimited. Mission Life Insurance Company
of America has attained an A.M. Best Rating of VERY GOOD.
Mission Life Insurance Company of Americas' partner Swiss
Re Life & Health of America Inc. has attained an A.M. Best
rating of SUPERIOR.
Mission Life Policies
These Mission Life Insurance policies are in full benefit
from the date of issue. They are also participating. By this
they mean at the end of the second policy year on the 3,5,10
and 20 pay policies, the policies may be credited with dividends.
The dividends are automatically applied to purchase paid up
additional insurance. The growth is used to offset inflation.
To qualify for any full benefit insurance plan, the applicant
must be in good health. The quality of health will determine
whether a standard rate can be used or not.
Graded Benefit Life Policy
GBL means Graded Benefit Life. The policy has an increasing
death benefit the first two years of the policy. Should death
occur during the first twelve (12) months that the policy
has been in force, the policy will pay 25% of the full benefit.
If death should occur during the 13th and through 24th month
that the policy has been in force, the policy will pay 50%
the full death benefit. After the 24th month that the policy
has been in force, the policy will pay the full death benefit.
The GBL is a "guaranteed growth" policy. The policy¹s death
benefit increases $2.50 per month for each $1000 per unit
plus $2.50 per month for each month elapsed from the Policy
Issue Date to the end of premium paying period or the date
of death, if earlier. Also, this policy is participating.
This means that it has the potential to grow by means of dividends,
similar to our other plans.
plan of insurance is offered in 6 different payment options
for 5,6,7,8,9 and 10 year pay. This policy also has an accidental
death benefit feature that provides a full death benefit during
the first 2 years if death is result of an accident. Some
states do not have this provision.
Multiple Premium Pay: Guaranteed Increasing Benefit Policy
The GIB is a guaranteed increasing benefit policy that increases
monthly from date of issue. These policies increase monthly
by an amount greater than the premiums paid. Over the premium
payment period the policy has a guaranteed growth of no less
than 3% per annum. Also, this policy is participating, giving
it the capability of growth in excess of the policy minimums.
Mission Life Insurance if you would like some more information
on their policies.