Mutual Accident Company

colonial1

Founded in 1937 by a salesman who put up $2,000 and borrowed $3,000 more to start Mutual Accident Company. The company sold only one product; a $1,000 accident policy for $3 per year. Two years later he changed the name of the company and turned it into a stock company. In 1993 the company was sold for $571,000,000. Not too bad for an initial investment of $5,000.

Mutual Accident Company changed name to Colonial Life & Accident Insurance Company and is now owned by UNUM

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