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Why Security Mutual

Security Mutual Life Insurance Company of New York was founded in 1886 by a group of business leaders who set out to provide customers with sound and affordable life insurance coverage. Security Mutual Life sold its first policy on January 3, 1887.

Over the years, Security Mutual Life has weathered depressions, wars and recessions to emerge as one of the leading life insurance companies in the United States. Currently, the Company markets its products in all 50 states, the District of Columbia and the U.S. Virgin Islands.

Now in its 131st year of honoring the commitments made to its policyholders, Security Mutual is a strong and stable financial institution with more than $2.75 billion in assets and $32.3 billion of life insurance in force. The Company’s strong performance represents the cumulative effect of many steps taken over time. We have also made substantial progress to effectively position the Company to prosper and grow today and in the future.

A New York-domiciled company, Security Mutual Life operates under the regulation of the New York State Department of Financial Services, among the strongest and most respected insurance departments in the country.

Today, Security Mutual Life’s mission is based on the same values upon which the Company was founded—to provide sound, equitable and competitive financial protection against financial burdens resulting from death, disability and retirement.

Message From The President

Bruce W. Boyea, EA, MAAA, MSPA
Chairman, President & Chief Executive Officer

Thank you for visiting the website of Security Mutual Life Insurance Company of New York. For those who might be learning about our Company for the first time, we have a rich history that dates back to the day our company was founded—November 6, 1886. We hope to share with you our rich culture and how our historical strength has positioned us to be a leader, not only today, but in tomorrow’s marketplace.

As you navigate through Security Mutual Life’s website, we hope that you find it informative, interesting and educational. Please revisit our site frequently and contact us with any feedback on how we can improve this site for you

Meet Security Mutual Life Insurance Company of New York

Meet Security Mutual Life and discover why so many individuals, families and businesses rely on Security Mutual Life to help protect them from the financial burdens that can result from death, disability and retirement.

Remember to contact your Security Mutual Representative for help with your life insurance needs.

Mission Statement

Vision

Security Mutual is and shall continue to be a respected provider of insurance products and services that help our customers guard against the financial impacts of death and disability, and that help them prepare for and manage their financial needs in retirement. We shall at all times endeavor to do the right thing for our policyholders.


 

Mission

Security Mutual’s corporate mission is to provide sound and equitable protection for financial needs resulting from death, disability or retirement. This mission is carried out through manufacturing and distributing life insurance, disability insurance and annuity products for individuals and groups and treating with dignity and respect all who put their trust in us.

As a mutual life insurance company, Security Mutual is managed for the benefit of its policyholders.

Security Mutual Life: Alight with Purpose

If you’ve ever seen nighttime photos of the Security Mutual Building or if you’ve ever been in or around the City of Binghamton at night, you may have noticed the beautiful colored lights atop of the company’s landmark home office building. What you may not realize, though, is that Security Mutual regularly changes the colors of those lights, and those colors have a meaning.

Sometimes the colors are celebratory, like the red and green you will see in December for the holiday season, the green you will see for St. Patrick’s Day, and the red, white and blue you will see for the Fourth of July.

But throughout most of the year, the colors have a more serious function: bringing light to important causes that affect our community, our policyholders and our nation. Each February, the lights shine red to help promote awareness of American Heart Month. In June, the lights are purple for National Alzheimer’s Awareness Month, and in October, they’re pink for National Breast Cancer Awareness Month.

Throughout April and May 2018, each night the building will be alight with an array of colors—from red, yellow and green, to blue and purple. These multi-colored lights signify the more than 20 different colors representing the forms of cancer affecting the lives of so many people. By displaying these colors, Security Mutual is working not only to raise awareness, but also to help cancer patients and their families through a new nonprofit initiative: Sock Out Cancer™.

Security Mutual Life founded Sock Out Cancer in 2017, and the program logo—a bright, multi-hued sock—symbolizes the fight against cancer in all its forms. Sock Out Cancer is a community-based fundraising program to benefit financially distressed cancer patients. The program provides financial assistance for non-medical needs such as transportation, groceries and rent or mortgage so patients in participating communities can put all their energy into fighting cancer.

The multi-colored light display in April and May is timed to help promote two very important Sock Out Cancer community fundraising events: a benefit concert taking place May 8 in Albany, New York, followed by a benefit concert on May 11 in Binghamton, New York. The concerts will feature America’s Got Talent runner up William Close & the Earth Harp Collective, and the net proceeds will benefit the cancer patients being treated by the participating hospitals in each community.

Because the Sock Out Cancer message is such an important one to so many people, these signature lights will shine at various times throughout the year. And of course, we will also be bringing light to many other important causes as well.

If you’re curious to see what our latest colors are and what they signify, visit smlny.com often, where you’ll find that information featured on our home page.

Sock Out Cancer Logo
About Sock Out Cancer®
Security Mutual Life is proud to be the founder and principal sponsor of Sock Out Cancer, LLC, a community-based nonprofit initiative formed to assist financially distressed cancer patients and their families. The program provides financial assistance for non-medical needs such as transportation, groceries and rent or mortgage payments. It is funded through donations, fundraising events and the net proceeds from sales of multi-hued Sock Out Cancer socks symbolizing the fight against cancer in all its forms. Socks can be purchased online at sockoutcancer.org.

Sock Out Cancer, LLC, is wholly owned by the Security Mutual Life Insurance Company of New York Charitable Trust, which is a New York 501(c)(3) public charity.

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