Security National Financial Corporation
Security National Financial Corp. is a U.S.-based financial services company organized around life insurance, cemetery and mortuary services, and mortgage lending. Through its operating subsidiaries, it serves families, policyholders, and homebuyers primarily in the United States.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueInsurance policies and related products offered through the company's insurance operations.
Funeral, burial, cemetery, and related memorial services provided to families and pre-need customers.
Advance-need arrangements for funeral and burial services, including merchandise sales.
Residential mortgage origination and related lending activities.
Customers
The company serves individual consumers and families purchasing life insurance, funeral, and burial-related services. It also serves homebuyers and mortgage borrowers through its lending operations. Preneed customers buy arrangements in advance to lock in services and reduce future family decision-making.
Individuals and families buying insurance protection, savings, or final-expense coverage.
Consumers arranging funeral and burial services in advance to secure pricing and reduce burden on relatives.
Households purchasing at-need funeral, burial, and memorial services.
Homebuyers and refinancing customers using the company's mortgage lending channel.
Strategy
The company’s business model depends on maintaining a mix of recurring insurance-related revenue, preneed sales, and service-based funeral and cemetery operations. Its mortgage platform adds a separate lending channel that broadens the customer base but also ties results to housing-market conditions and interest-rate cycles.
Preneed contracts create future service demand and deepen customer relationships.
Insurance and mortgage results depend on credit, mortality, and interest-rate risk management.
Funeral and cemetery businesses benefit from proximity, trust, and community relationships.
Geography
Security National Financial Corp. operates primarily in the United States, where its insurance, funeral, cemetery, and mortgage businesses are centered. Its exposure is tied to U.S. consumer demand, housing activity, and state-level regulation of insurance and funeral services.
Risks
The company faces consumer-demand risk across funeral, insurance, and mortgage businesses, each of which depends on different economic and demographic drivers. It is also exposed to regulatory, interest-rate, and credit risks, while its smaller reporting-company status means fewer detailed risk disclosures than larger peers.
Mortgage origination volumes and borrower affordability move with rates and home sales.
Exposure: Mortgage operations
Life insurance profitability depends on claims experience, policy lapses, and reserve adequacy.
Exposure: Life insurance segment
Insurance and funeral businesses are subject to state licensing, reserve, and consumer-protection rules.
Exposure: U.S. operating subsidiaries
These businesses depend on community-level demand and competitive positioning in specific markets.
Exposure: Mortuary and cemetery operations
Accounting
Judgemental itemsLife insurance liabilities are sensitive to mortality, lapse, and discount-rate estimates.
Impact: Can materially affect reported liabilities and earnings
Mortgage assets require judgments on collectability and fair value.
Impact: Affects asset carrying values and provision expense
Cash may be received before services are delivered, creating deferred revenue or contract liability timing.
Impact: Affects revenue recognition and balance-sheet liabilities
Repurchased Class A shares are held for employee plan uses and deferred compensation.
Impact: Affects equity and share count presentation
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Last updated: 24/09/2026