Security National Financial Corporation, together with its subsidiaries, provides life insurance, cemetery and mortuary services, and mortgage loans. Segments The company operates in three main business segments: Life Insurance, Cemetery and Mortuary, and Mortgage Loans. The Life Insurance segment engages in the business of selling and servicing selected lines of life insurance, annuity products and accident and health insurance. The Cemetery and Mortuary segment of the company consists of five cemeteries in the state of Utah and one cemetery in the state of California, and seven mortuaries in the state of Utah and one mortuary in the state of Arizona. The company also engages in pre-need selling of funeral, cemetery, mortuary and cremation services through its Utah, Arizona and California operations. The Mortgage Loan segment is an approved government and conventional lender that originates and underwrites or otherwise purchases residential and commercial loans for new construction, existing homes and real estate projects. This segment operates through 91 wholesale and retail offices in 19 states, and is an approved mortgage lender in several other states. Life Insurance Products: The company, through Security National Life and its insurance subsidiaries, Memorial Insurance Company of America (Memorial Insurance Company), Southern Security Life Insurance Company (Southern Security) and Trans-Western Life Insurance Company (Trans-Western), issues and distributes selected lines of life insurance and annuities. The company’s life insurance business includes funeral plans, and interest-sensitive life insurance, as well as other traditional life, accident and health insurance products. Markets: The company is licensed to sell insurance in 38 states. The company, in marketing its life insurance products, seeks to locate, develop and service specific markets. Funeral plan policies are sold primarily to persons who range in age from 45 to 85. Annuities Products: The company’s annuity business includes single premium deferred annuities, flexible premium deferred annuities and immediate annuities. A single premium deferred annuity is a contract where the individual remits a sum of money to the company, which is retained on deposit until such time as the individual may wish to annuitize or surrender the contract for cash. These single and flexible premium deferred annuities can have initial surrender charges. Markets: The general market for the company’s annuities is middle to older age individuals who wish to save or invest their money in a tax-deferred environment, having relatively high yields. The major source of annuity considerations comes from direct agents. Accident and Health Products: The company offers low-cost comprehensive diver’s accident policies. These policies provide worldwide coverage for medical expense reimbursement in the event of diving accidents. Cemetery and Mortuary Products: The company has six wholly-owned non-denominational cemeteries and eight wholly-owned mortuaries. Through its cemetery and mortuary operations, the company markets various products and services both on a pre-need basis (prior to death) and an at-need basis (at the time of death). The products include plots, interment vaults, mausoleum crypts and niches, markers, caskets, flowers and other related products. The services include professional services of funeral directors, opening and closing of graves, use of chapels and viewing rooms, and use of automobiles and clothing. The company has a funeral chapel at each of its cemeteries, other than Holladay Memorial Park and Singing Hills Memorial Park, and has four separate stand-alone mortuary facilities. Markets: The company’s pre-need cemetery and mortuary sales are marketed to persons of all ages but are generally purchased by persons 45 years of age and older. The company is limited in its geographic distribution of these products to areas lying within an approximate 20-mile radius of its mortuaries and cemeteries. Mortgage Loans Products: The company, through its wholly owned subsidiary, SecurityNational Mortgage Company (SecurityNational Mortgage), operates in the residential real estate market. The company has approvals through the U.S. Department of Housing and Urban Development, Fannie Mae, Freddie Mac and other substantial secondary market investors, which enable it to originate various residential mortgage loan products that are subsequently sold to investors. The company also uses internal and external funding sources with unaffiliated financial institutions. Security National Life, an affiliate of SecurityNational Mortgage, originates commercial real estate loans both for internal investment, as well as for sale to unaffiliated investors and also originates residential construction loans. Markets: The company’s residential mortgage lending services are marketed primarily to mortgage originators. SecurityNational Mortgage maintains a majority of its retail origination presence in the Utah, Florida, California, Illinois and Texas markets in addition to four wholesale branch offices located in California, Florida, Texas and Utah, with sales representatives in these and other states. Regulation The company’s insurance subsidiaries, Security National Life, Memorial Insurance Company, Southern Security and Trans-Western are subject to comprehensive regulation in the jurisdictions in which they do business under statutes and regulations administered by state insurance commissioners. The company is subject to regulation in Utah, Arkansas, Mississippi and Texas under insurance holding company legislation, and other states where applicable. History Security National Financial Corporation was founded in 1965.
security natl finl corp-cl a
5300 South 360 West
Salt Lake City, UT 84123
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To contact SECURITY NATL FINL CORP-CL A, please visit www.securitynational.com. Company data is provided by Capital IQ. Please use this form to report any data issues.