Our Company

Ownership and mission
Founded in 1905 to help protect widows and orphans, Beneficial Life is the oldest life insurance company domiciled in the Intermountain West. Heber J. Grant encourage the founding of Beneficial to protect widows and children from the suffering he and his widowed mother had endured.

Current Beneficial President Kent H. Cannon says: “Widows and other beneficiaries have greatly benefited from the essential, life-enriching services we provide. Our services and products have blessed the lives of so many individuals and families.” Beneficial Financial Group is owned by Deseret Management Corporation, a holding company affiliated with The Church of Jesus Christ of Latter-day Saints.

Our financial professionals deliver personalized financial solutions that promote thrift, prudence, protection, and financial preservation, which enable and empower our clients with the tools necessary to become self-sufficient, realize their potential, protect the profitability and value of their businesses, and perpetuate their family legacies.

Honoring our commitments
During the stock market crash of 1929 and the resulting economic depression of the 1930s, Beneficial honored policyowner requests for policy loans and surrender payments, although deferring such cash payments was allowed by law. 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.