Many of the nation's oldest and largest life insurers began as mutual insurance companies. In recent years, however, a growing number - including Prudential, John Hancock, MetLife, Principal, Mutual of New York and dozens of others - have demutualized.

Mutual life policyholders (and heirs) continue to be entitled to receive whatever policy benefits may be due, but in addition receive stock, cash and/or policy credits in exchange for their ownership interest in the old mutual insurance company.

The amount paid to each policyholder is based on a number of factors, including length of time the policy has been in force, face value of the policy, and total premiums paid. For many policyholders, the windfall arising from demutualization can be substantial, and the financial benefits continue to accrue after a company demutualizes.

As shareholders, demutualized life policyholders are now entitled to share in the company's profits via stock dividends, and benefit from its growth in the form of an appreciated share price. Shares may be sold at any time, without affecting policy benefits.

For additional information click on FAQ or select a company from the list.