Beneficial Financial Group is an insurance and financial services company based in Salt Lake City, Utah. This is a subsidiary of Deseret Management Corporation, a non-profit arm of The Church of Jesus Christ of Latter-day Saints (LDS Church). The company was founded in 1905 and at the end of fiscal year 2013 has assets of $ 3.0 billion. The insurance side of the company is known for many years as the Happy Life Insurance Company .
Beneficial certified by the Insurance Market Standards Association for ethical business practices. It is a subsidiary of Deseret Management Corporation (DMC), a profit management asset for LDS Church. Helpful has a "A" rating (stable) of Standard & amp; Poor for financial strength, when S & amp; P downgraded to "A" due to exposure to Mortgage-backed security investments amid the 2008 housing bubble, and warned of further devaluation unless the DMC replenishes some Beneficial capital as it worsens "from current strong levels."
On June 16, 2009, it was announced that Beneficial would stop writing a new policy by the end of August. The DMC reaffirms its commitment to supporting existing policies, but says that in today's environment, Beneficials are too small to compete with larger insurance companies.
Video Beneficial Financial Group
Location
The company's headquarters for many years is at Beneficial Life Tower, just above the ZCMI Center Mall. This office tower has a company name in large letters along the sides, illuminated in blue at the top of the structure. The words Useful Life can be seen from a great distance because the tower has a view of the Salt Lake Valley along the main artery known as State Street.
During the mid-1980s helpful towers of life achieved fame when a pair of peregrine rare hawks decided to take up residence in a corporate letter on the north side of the building.
Around 2006, Beneficial moved to the former Kennecott building on the opposite corner of the same block. Both buildings remained while nearly the entire block was torn down, along with neighboring blocks in downtown Salt Lake City, and transformed into a new development called City Creek Center.
Maps Beneficial Financial Group
References
Source of the article : Wikipedia
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