Can You Believe In These Conversions?

Do you have a life insurance policy or annuity issued by Prudential Life Insurance Co.? The huge mutual insurer recently announced plans to go public, and policyholders--who own the company--can only hope that they will be as fortunate as those at Allmerica Financial. They were awarded stock when the Worcester (Mass.)-based insurer shed its mutual status and did an initial public offering in October, 1995. Since then, Allmerica shares have tripled, netting investors an average annualized return of 57.4%.

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