1. What transaction has taken place? 
    Pan-American Life Insurance Company (PALIC) and Encova Life Insurance Company (Encova Life), a subsidiary of Encova Mutual Insurance Group, Inc., entered into a definitive agreement under which PALIC has acquired Encova Life.

    Existing Encova Life policies have been assumed by PALIC with no changes to product terms and features for current policyholders.

    The addition of Encova Life’s business further solidifying PALIC’s market position with increased scale, greater financial strength, a sterling ratings profile, and enhanced growth opportunities. The former Encova Life policyholders, producers and employees have become part of a strong, well-capitalized organization serving policyholders in 49 states and 22 countries with a robust product offering and more than 110 years of experience in the industry.

  2. Who is Mutual Trust Life Solutions (MTLS)?
    Mutual Trust Life Solutions is the division for the life insurance solutions that Pan-American Life Insurance Company provides in the United States independent agent life insurance marketplace.

    Mutual Trust Life Solutions insurance policies are issued by Pan-American Life Insurance Company.

    With the addition of the acquired Encova Life business, MTLS will continue to develop competitive products and service individual life insurance in 49 states and the District of Columbia. 

  3. How will the acquisition impact Encova Life’s current policyholders? 
    All Encova Life policies have been assumed by Pan-American Life Insurance Company with no changes to product terms and features for current policyholders.   

    The merger of Encova Life into PALIC will further enhance our scale and ability to serve the needs of our policyholders seeking trusted financial security. 

  4. Will existing Encova Life term policies be convertible to PALIC whole life products?
    Yes.

  5. Where should policyholders send their payments?
    Policyholders may continue to send payments in the same manner as usual.

    Following the merger, Discover cards will no longer be accepted for policy payments.

  6. How were policyholders notified? 
    In January 2024, PALIC sent a mailing informing policyholders of the change. This mailing envelope was branded with the Encova Life logo, and contained a cover letter and policy endorsement to be added to the original policy. Policyholders should expect to receive this mailing prior to the end of January.

  7. Has contact information for policyowners changed?
    Contact information for policyowners remains the same. Any changes in contact information will be communicated at a later date.

    Should you have any questions, please contact the Policyowner Services department at the following:

    Phone: (888) 876-6542
    Fax: (800) 876-8365
    Email: lifepolicyownerservices@palig.com
    Address: 471 E Broad St Columbus, OH 43215
 

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