Security National Financial Corporation (XSNA)

Overview

Security National Financial Corporation is a diversified company that operates in three main sectors: life insurance, cemetery and mortuary services, and mortgage lending. Founded in 1965 and based in Salt Lake City, Utah, the company has expanded its operations to include services in several states across the United States, including Florida, Nevada, Texas, and Utah for mortgage services, as well as Utah, California, and New Mexico for cemetery and mortuary services. It is involved in selling and servicing a wide range of life insurance and annuity products, offering comprehensive death care services through its mortuaries and cemeteries, and providing residential and commercial mortgage lending primarily for new construction and existing homes.

Products and Services

• Life Insurance and Annuities:

The Life Insurance segment of Security National Financial Corporation offers a variety of insurance products tailored to meet individual needs. This includes traditional life insurance policies such as term and whole life, interest-sensitive life insurance for more investment-focused consumers, and various annuity products. These range from single and flexible premium deferred annuities, which help in retirement planning, to immediate annuities for guaranteed income shortly after investment. Additionally, they provide accident and health insurance alongside diver's accident policies, utilizing reinsurance treaties to manage risk efficiently.

• Cemetery and Mortuary Services:

This segment operates several mortuaries and cemeteries across Utah, California, and New Mexico. Security National Financial Corporation offers a comprehensive suite of death care services, including selling plots, interment vaults, and mausoleum crypts. Customers can also purchase markers, caskets, urns, and other related products. Professional services extend to funeral directors, preparation of gravesites, and the use of facilities such as chapels and viewing rooms. This division aims to provide respectful and comprehensive services tailored to families’ needs during difficult times.

• Residential and Commercial Mortgages:

A significant part of Security National Financial Corporation's business model is its mortgage services. It originates and underwrites residential and commercial loans, catering to new construction projects, existing homes, and broader real estate ventures primarily in Florida, Nevada, Texas, and Utah. The service is not only extended to real estate brokers and builders but also directly to consumers. By offering residential mortgage lending services, the company supports individuals and businesses in achieving their property ownership and development goals.