OCR Text |
Show Farm Bureau Insurance Company Goes Mutual, Jim Yardley Local Manager Cooperative Life of America, a member of the Farm Bureau Insurance companies, Is being reorganized as a mutual life insurance company, according to Frank G. Shelley, executive secretary Utah Farm Bureau, and secretary of the insurance firm. Effective July 1, the company will be known as Country Mutual Life. "Present policy holders," Mr. Shelley stated, "will not be affected by the change to a mutual company in any way whatsoever. Our primary purpose in the move is to broaden our service area and provide insurance to groups not previously served." Cooperative Life of Amer- ica was formed 20 years ago by Francis W. Kirkham, manager, with a fund of $500. Company assets today stand at over $1,250,000 with unas-signed surplus funds in excess of double the legal requirements. Some 17,500 families in Utah are represented in the over 30 million dollars life insurance in force. As an affiliate of the American Farm Bureau Federation, the company has maintained a continuing education-'al program on insurance needs for members, with special emphasis on policies suited to the needs of farm families. James F. Yardley of Panguitch is the District manager for this local area. |