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Mutual Protective Life

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Mutual Protective Insurance Company Completes Reorganization, and Changes Its Name to Medic Insurance Company.Mutual Protective Insurance Company announced its reorganization to a mutual holding company structure is complete and that it has changed its name to Medico Insurance Company.
Life Insurance is a contract under which a company agrees to pay a stated amount to the beneficiary or beneficiaries named by the insured. Pure or term insurance provides a death benefit but has no current value. Ordinary life insurance and the many variations thereof provide a build-up of current value as well as a death benefit. Credit life insurance covers the balance due upon a loan if it remains outstanding when death occurs.
On November 3, 2005, the Plan of Reorganization was approved by an overwhelming majority of the voting policyholders. The reorganization establishes a mutual holding company, Medico Mutual Insurance Holding Company, and an intermediate stock holding company, Medico Holdings. Medico Life Insurance Company will remain a wholly owned subsidiary of Medico Insurance Company.

The reorganization gives the company the flexibility to grow its senior insurance market share and expand into emerging markets through new strategic partnerships. They value the confidence our policyholders have placed in our vision for the future, said Timothy J. Hall, President and CEO. They look forward to continuing to serve their insurance needs under their new name, Medico Insurance Company.

Medico Insurance Company specializes in offering senior-focused insurance products nationwide. Established in 1930, the company introduced its first senior product in 1959, seven years prior to Medicare. Today Medico Insurance Company proudly serves over 90,000 policyholders across the country.
The companies mission is to become the life insurance company of choice by enriching the lives of their customers through quality products and reliable service, built upon a history of success.

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