Pekin Life Insurance Profile
Pekin Life Insurance Company operates as a life and accident and health insurance company.
The company operates in 24 states across the nation. The company sells insurance primarily through independent agents. Insurance products primarily include ordinary life, Medicare Supplement, credit life and health, annuities, and pre-need life. The company also offers group life, dental, and short-term disability, as well as voluntary products.
Mortgage Loans
The company invests in mortgage loans collateralized by commercial property. The company’s mortgage loan portfolio consists of loans made on properties located in 36 states.
Securities Lending
The company lends securities to agreed upon borrowers through an agreement with its custodian. The company requires initial collateral from the borrower in an amount no less than 102 percent of the fair value of domestic securities and no less than 105 percent of the fair value of foreign securities loaned at the outset of the contract.
History
Pekin Life Insurance Company was founded in 1921.
