What Is Mutual Whole Life Insurance?

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    Steve Savant
    Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
    A mutual life insurance company is owned by their policy holders who select a board of directors, generally by a proxy vote to operate the company on their behalf. Every year the board of directors generally declares a dividend which in turn is distributed pro rata to their policy holders.
    Answered on August 9, 2013
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