In conjunction with Illinois Mutual’s 96th annual meeting, Michel A. McCord, Chairman and President, announced the addition of Robert Bollegar as a new member to the Board of Directors, as well as the re-election of himself and fellow directors William E. Palmatier, Katie M. Jenkins, Judith K. McCord and Melissa Metternich. McCord also announced the retirement of former director Vicki J. McCord and paid tribute to the memory of two directors who passed away last year, Robert A. McCord and Willard A. Reed.
As a mutual legal reserve life insurance company, the Company’s annual meeting was held Tuesday, July 17 at the Home Office, 300 S.W. Adams Street, in Peoria, IL. The purpose of this meeting is for the policyowners of the Company to elect the directors who in turn elect the officers who manage the affairs of the Company. The Company currently serves 206,336 policyowners.
During the meeting, McCord reported a 6.3% increase in ledger assets, bringing the Company’s total to $1.2 billion. Life insurance and disability insurance paid premiums experienced a 10.4% increase, bringing the total to $15.3 million. Total life insurance and disability insurance in force policies exceeded $111 million, while total paid annuities reached $44 million.
Service awards were also presented to employees who reached milestone anniversaries within the Company. With a combined total of 365 years of service, 18 individuals were recognized for their dedication to Illinois Mutual. The Company also recognized seven employees who completed continuing education courses earlier in the year. Illinois Mutual provides textbooks to those interested and offers enrollment in courses through LOMA, HIAA, and ICA.
“We’ve had another successful fiscal year since our last meeting. We are very pleased to welcome Bob Bollegar to the Board, and we extend our gratitude to all the people who make these successes possible,” McCord said.
For more information, please call 1-800-437-7355, ext. 366, or visit its Web site at www.IllinoisMutual.com.