Definition - What does State Mutual mean?
State Mutual is an insurance company based in Rome, Georgia that is owned by its policyholders. It operates in many US states and is currently a seller of life insurance and Medicare supplements.
Insuranceopedia explains State Mutual
A mutual company is an insurance company that is owned by its members and policyholders. The company's name, State Mutual Insurance Company, reflects that fact.
This company was born out of the Depression of the 1930's. To provide employment, some people in Rome were encouraged to sell insurance and were granted licenses to do so by the State of Georgia.
In the 1990's, the company began aiming its marketing to senior citizens. As of 2016, it still targets that same market by selling life insurance and Medicare supplements.