Financial Information

Financial Strength
Throughout our history, Beneficial has been known for its financial strength. (For our current financial ratings, click here.) Beneficial has operated profitably and historically has made protecting families through economic hardships a top priority. During the stock market crash of 1929 and the economic depression of the 1930s, Beneficial honored policyowner requests for policy loans and surrender payments, although deferring such cash payments was allowed by law. Likewise, through both World Wars, we paid death claims for insureds who died while serving their country, without invoking policy war clauses that allowed denial of such claims.

2007 Financial Highlights
As of December 31, 2007, Beneficial’s insurance in force was $29.5 billion. Other highlights include the following amounts, based on statutory accounting practices followed by insurance companies:

2007 Capital and Surplus
During 2007 Beneficial continued to maintain higher-than-average capital and surplus as a financial safety cushion to meet the Company’s future liability obligations. The Company’s capital and surplus was $341.1 million at year end. The following chart shows the increase in capital and surplus over the past 15 years, reflecting the growth of the Company.

2007 Asset and Investment Highlights
As of December 31, 2007, Beneficial’s assets and asset allocation were as follows:

2007 Bond Quality
Beneficial’s diversified bond portfolio consists of over 1,100 separate issues. The largest individual issue in the portfolio represents less than 2 percent of total assets. On December 31, 2007, the quality of Beneficial’s bond portfolio was divided into the following risk categories as classified by the National Association of Insurance Commissioners (NAIC). The NAIC’s six categories are based on the level of risk, ranging from 1 to 6; level 1 is the highest quality and lowest risk.