Mutual Trust Life Insurance Company

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Today we’re delving into one of the few remaining mutual life insurers in the marketplace – Mutual Trust Life Insurance Company.

While the company can’t quite compete with the top life insurance companies in the industry, Mutual Trust Life offers a good selection of life insurance types, including their flagship product: whole life insurance.

Let’s take a look at the Pan-American life insurance group stock company calling themselves, “The Whole Life Company.”

Before making an important buying decision, such as purchasing life insurance, always consider getting a quote from the sidebar to compare several other comparable companies.

This is to ensure you not only secure the best deal for you and your family’s future, but you also provide the best coverage for your family when they need it most.

This is our Mutual Trust Life Insurance review, and this review is solely based on our opinion.

Our Mutual Trust Life Insurance Company Review

Mutual Trust Life Insurance Company logoFor more than 110 years now, Mutual Trust Life Insurance Company has kept its focus on providing high quality, whole life insurance to its policyholders.

Even today, it continues to offer this participating life product, a kind few carriers offer, which keeps policyholders at the helm of the decision making and profits within the company, not stockholders.

As a part of the Pan American Life Insurance Group since 2015, a national and multi-national collective of life and health providers, Mutual Trust has grown to greater than $2 billion in assets.

Their conservative focus on investment grade bonds and long-term returns have amassed them $288 million in surplus, with $11 million in annual net profits.

Established in 1904 on the principles of mutuality and insurer participation, Mutual Trust is among the best life insurance companies based on financial strength ratings, having achieved a rating of “A” from A.M Best and an “A” from Fitch.

These two declarations of financial stability are considered top-notch in the insurance industry.

In comparison to other top mutual life insurance companies, these are great scores.

Products From Mutual Trust

One of the things which differentiates Mutual Trust from most other carriers is their mutual status, meaning they do not have stockholders and are not publicly traded.

They are owned completely by their policyholders.

Growth and interest, as well as excess funding from the year, are returned back to policyholders by way of dividends, which are accounted to cash value policies.

Mutual Trust Life Insurance Company offers the following life insurance products:

  • Term
  • Whole
  • Riders
  • Annuities 

Term Life

In general, term life insurance is suitable for individuals looking for an easy-to-understand, short-term life insurance solution.

Term ensures coverage over a specific time frame, and premiums are generally cheaper compared to more long-term products, like whole life.

If the policyholder passes away prematurely during the policy’s term, the named beneficiary or beneficiaries will receive an income tax-free payout to help cover expenses, such as a mortgage or day-to-day bills. Essentially, the main purpose of term life insurance is to make sure loved ones are provided for in the event of your unforeseen death.

One thing to remember is that when the policy term expires, the coverage does as well.

Mutual Trust’s term product is called the SelectTerm, and consumers have the option to choose level premiums for 10, 15, 20, or even 30 years.

All SelectTerm plans are convertible to more permanent solutions, such as a Mutual Trust whole life policy, up to the insured’s 65th birthday.

This specific policy is also renewable on an annual basis with a level death benefit up to age 98.

Whole Life

For those looking for a more comprehensive, long-term life insurance solution, whole life is where it’s at. Similar to term life, whole life policies feature an income tax-free death benefit to provide financial security for policyholders’ families.

However, unlike term life, whole life premiums are much more expensive, and premium payments are divided into both death benefit and cash value payments.

The “cash value” component of the policy makes this product unique, especially since the death benefit shrinks while the cash value component accumulates with interest.

In the end, the cash value portion will eventually make up the entire whole life policy.

The cash value component serves as an investment tool for policyholders, where individuals can take out a loan or even use the funds to supplement their retirement savings.

Permanent Life Insurance Policies

Among their permanent insurance products are the Horizon Value, the Horizon Guarantee, the Horizon Blend, and the Legacy One. According to Mutual Trust, these whole life products offer financial security for policyholders’ loved ones:

  1. The Horizon Value guarantees early and fast tax-deferred growth of cash values. A policyholder is granted access to the policy’s funds throughout his or her life, and the funds can be used to pay college expenses or simply supplement one’s income. Guaranteed level premiums, guaranteed death benefits, and non-forfeiture benefits are included. For those interested, an accelerated death benefit rider featuring Chronic and Terminal Illness provisions is a viable option for policyholders at no additional charge. Further customizations may be made to one’s policy, if desired.
  2. The Horizon Guarantee features guaranteed death benefit coverage at an affordable, level premium. Tax-deferred cash value is guaranteed to grow rapidly, so this product is ideal for policyholders who value death benefit coverage and cash value accumulation, respectively. The policy also includes non-forfeiture benefits along with an accelerated death benefit rider featuring Chronic and Terminal Illness provisions. Further customizations may be made to one’s policy, if desired.
  3. The Horizon Blend is Mutual Trust’s “blended” life insurance. This product is a 50/50 blend of whole life and term insurance, making it quite a unique offering.  The main features of this policy include permanent coverage, attractive premiums, guaranteed cash accumulation, and a guaranteed death benefit spanning 20 years. The Horizon Blend includes a conversion option for insurers, along with an accelerated death benefit rider featuring Chronic and Terminal Illness provisions. Further customizations may be made to one’s policy, if desired.
  4. Finally, the Legacy One is single premium whole life insurance. An estate planning and charitable giving type of product, this policy type involves a single lump sum payment that not only leverages into a death benefit, but also grows on a tax-deferred basis. While this type of life insurance has less broad use, it’s unmatched in its ability to instantly create a tax-advantaged, growth situation with just a single payment, all the while offering the tax-free benefits of life insurance. This product features penalty-free access where the funds can be taken advantage of however the policyholder sees fit.


Mutual Trust offers a wide range of riders for policyholders to consider.

In simple terms, a rider constitutes specific terms and conditions supplementing an original insurance policy.

An insurer should consider supplementing their insurance policy with a rider or riders to more fully customize an insurance product to his or her needs.

The following riders are available with Mutual Trust:

  • Paid-Up Additional (PIA) Insurance Riders
    • Flex Pay PUA Rider
    • Single Premium PUA Rider
  • Term Riders
    • 7-Year Term Rider
    • 15-Year Term Rider
  • Accelerated Death Benefit Riders
    • Chronic Illness Provision
    • Terminal Illness Provision
  • Disability Riders
    • Applicant Waiver of Premium Benefit
    • 2-Year Waiver of Premium Benefit
    • 5-Year Waiver of Premium Benefit
    • Disability Benefit Rider (DBR) for Flex Pay PUA Rider
  • Supplementary Benefits
    • Accidental Death Benefit
    • Children Insurance Rider
    • Guaranteed Purchase Option Rider

Additional riders include Children’s Insurance, Accelerated Death Benefit, and Waiver of Premium.


Mutual Trust offers flexible and single-premium deferred annuities through their IntegrityPlus Series.

Annuities not only feature a guaranteed, set interest rate, low monthly payments, and tax-deferred earnings, but also no upfront sales charges, a variety of payout options, and guaranteed principal through the insurance company.

When the annuitant passes away, the cash accumulation is made available to the designated beneficiary or beneficiaries.

Final Thoughts on Mutual Trust

As with almost all mutual life insurance companies we’ve reviewed, term products tend to be overpriced when compared to the marketplace as a whole.

However, for anyone looking at permanent coverage options, there are significant benefits to working with a top-notch provider, such as Mutual Trust Life Insurance Company:

  • financial strength
  • diversity in the products, and
  • unique policyholder benefits

Skip Wall Street and stockholders – Mutual Trust exists to make sure their real owners, their valued policyholders, are financially secure for years to come.

Mutual Trust is proud to offer a variety of life insurance solutions that are just as unique as their policyholders.

Mutual Trust Life Insurance Company

(800) 323-7320
1200 Jorie Boulevard
Oak Brook, IL 60523

Company Name (and subsidiaries)

  • Pan American Life Insurance Group (PALIG) Stock Company


Jason Fisher

Jason Fisher is the founder and CEO of, LLC. and a multi-state licensed life insurance agent who has helped over a million Americans seek out affordable coverage, compare quotes, or get their family and businesses covered.