2024 was a year of change: socially, politically and economically.

Security Mutual Life is focused on adapting to meet the current and future needs of our policyholders, employees and distributors. To accomplish this, we’ve worked hard over the last year to embrace change and the opportunities it can present. We continue to bolster our distribution footprint by enhancing our Northeast coverage while we also make expanded inroads across the country. Our Houston office remains a focal point of our expansion through its utilization as a customer support center as well as a sales desk for our distributors.

Additionally, Security Mutual Life continues to invest in our workforce to adapt to changing workplace practices and trends, with the goal of providing a superior customer experience for our policyholders, no matter where in the USA our employees are based. Over the last several years we’ve made significant investments in how and where we work, with the implementation of workplace policies and technologies that seamlessly facilitate a variety of flexible work arrangements. We’ve also equipped our workforce with the tools and training to excel in their roles so that they can provide the level of customer support that is expected from our Company.

Although some things change, always certain is our financial commitment to our policyholders.

In 2024, Security Mutual Life reported strong sales and issued more than 45,200 new individual life insurance policies and annuity contracts. We continue to navigate current economic conditions supported by our robust enterprise risk management framework, which aims to mitigate risk with the goal of embracing opportunities and avoiding losses. We continue our commitment to sustainable and stable long-term growth.

The Company ended 2024 with $201.4 million in capital and assets over $3.2 billion. Our 2024 net operating gain of $1.7 million was achieved after paying policyholder benefits in excess of $359.5 million, including policyholder dividends² of $21.5 million.

Security Mutual Life continues to work with BlackRock Financial Management, Inc.,³ to manage the Company’s fixed income investment portfolio. Security Mutual Life and BlackRock develop and pursue strategies that focus on enhancing income and reducing market sensitivity, while managing portfolio risk to support our products, and create long-term value for our policyholders.

Security Mutual Life internally manages its commercial mortgage loan portfolio (see the Total Invested Assets chart) which is secured by high-quality real estate. For effective risk management, stringent commercial mortgage underwriting standards are key and entail monitoring procedures and diversification (both as to real estate type and geography). The portfolio has experienced very favorable results over many years.

The life insurance industry is well-established yet constantly evolving. To remain a competitive and respected company in our industry, we continue to evaluate not only our product portfolio, but how we market these products.

Creativity in product design can be crucial in serving the ever-changing needs of both our policyholders and our distributors. With so many life insurance options to choose from, Security Mutual Life is cognizant of, and dedicated to, not only the continual assessment of our products, but also the creative ways in which we can reach and educate our current and future policyholders on the value that life insurance provides.

We understand the immense trust that our policyholders place in us to safeguard their personal information. Our cybersecurity systems and programs are continually being enhanced and we promote corporate-wide employee security awareness educational programs to help inform our employees of current threats and their accountability in mitigating these threats. Every day, the world is faced with new and sophisticated cybersecurity challenges, further underlining the importance of our ever-evolving cybersecurity initiatives. In today’s environment, preparedness and response require a solid plan, and oftentimes creativity, as the threats facing our industry are advancing at an unprecedented pace.

Additionally, we consistently monitor and respond to the rapid advancements in Artificial Intelligence (AI) technology and how it may be best adopted to benefit our policyholders, employees and distributors. We are keenly aware of the opportunities AI may present while remaining mindful of changing regulations, ethics and governance.

Since 1886, ingrained into our corporate culture and identity has been our dedication to helping support the communities in which we live, work and serve. Our commitment to giving back could not be achieved without the generous support of our employees, which includes volunteerism inside and outside of the workplace. Oftentimes, caring requires the courage to explore new horizons to achieve a common goal.

Through the Security Mutual Life Foundation, our nonprofit initiative, Sock Out Cancer^®, continues to grow. Sock Out Cancer raises funds which are provided to hospital foundations who then assist financially distressed cancer patients by paying for non-medical necessities such as food, transportation, and housing, so that patients can focus their energy on fighting cancer. Since its inception in 2017, Sock Out Cancer has distributed over $1.8 million to participating hospital foundations and other charitable organizations. We are excited to see this initiative gain momentum and support across the country.

We truly are The Company That Cares^®!

We understand the important role we play in the lives of our policyholders, employees and distributors. That means having the courage to make tough decisions, a responsibility we do not take lightly. Our investment philosophy, workforce, and product portfolio are all at the forefront of our priorities and are given attention as needed. We remain vigilant and steadfast in earning and keeping the trust of those who put their faith in us.