#horace mann insurance
Horace Mann Insurance
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The Horace Mann Educators Corporation was founded in 1945 in Springfield in the state of Illinois. Originally known as the Illinois Education Association Mutual Insurance Company, the name Horace Mann Insurance was chosen to honor the father of American public education. The Association had been created as a way to give educators better rates on personal and automobile insurance and had been founded by two teachers. Two years after its creation, the Horace Mann Insurance Company began to offer insurance to teachers in other states. Life insurance was added with the inception of Horace Mann Life Insurance Company in 1949. The company offered a full line of life insurance products. Annuities would be added to the company s offerings in 1969.
The INA Group in 1974, at that time a financial and insurance services group, based in Philadelphia started increasing the amount of holdings it had on Horace Mann Insurance and bought the company outright the following year. In 1982, INA merged with Connecticut General Group to form CIGNA. Within seven years, the Horace Mann Insurance Company was bought from CIGNA.
The first public stock offering of Horace Mann Insurance was announced in 1991. Three years later, Horace Mann Insurance bought out the California Company, Allegiance Insurance. That company changed its name to Horace Mann Property and Casualty Insurance Company creating the largest multi-line insurance company for educators. The company had more than four billion dollars in assets.
The Horace Mann Insurance continues to provide the best coverage for educators as well as other benefits as well. These benefits include: free workshops for retirement planning and other educational resources, lower rates wherever possible, personal agents, online customer care center and excellent claims service. The company has earned ratings that include A- from AM Best, A from Standard Poor s, A from Fitch and an A3 from Moody s.