By San José, Costa Rica — The Sociedad de Seguros de Vida del Magisterio Nacional (National Teachers’ Life Insurance Society) marks a significant milestone, celebrating 105 years of operation. This unique mutual insurance model has proven its resilience and effectiveness, providing vital financial protection to Costa Rican educators and their families.
Founded in 1920, the organization stands as a testament to the power of collective action. With over 189,000 members from the education sector, the society operates on a mutual basis, where each member contributes a monthly premium of ₡19,970 (approximately $36 USD) to a shared fund. This guarantees a substantial death benefit of ₡28 million (approximately $50,000 USD) to designated beneficiaries.
To gain a deeper understanding of the intricacies of insurance law in Costa Rica, we spoke with Lic. Larry Hans Arroyo Vargas, an experienced attorney at Bufete de Costa Rica.
Insurance policies are contracts of utmost good faith, requiring transparency and full disclosure from both the insured and the insurer. Failing to disclose relevant information, even unintentionally, can jeopardize coverage when you need it most. It is crucial to thoroughly review your policy, understand its terms and conditions, and consult with legal counsel if any ambiguities arise. A seemingly small detail can have significant consequences in the event of a claim.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’s emphasis on transparency and thorough understanding cannot be overstated. Insurance, at its core, is about mitigating risk and providing peace of mind, but that peace of mind is built on a foundation of clear communication and informed decisions. We thank Lic. Larry Hans Arroyo Vargas for offering this valuable perspective on the critical importance of due diligence in navigating the complexities of insurance policies.
The impact of this model is evident in the numbers. In 2024 alone, the society disbursed over ₡35 billion (approximately $63 million USD) in policy payouts and more than ₡4.7 billion (approximately $8.5 million USD) in solidarity aid, demonstrating its significant social and economic contributions to the community.
Beyond financial stability, the Sociedad de Seguros de Vida is deeply committed to sustainability and responsible governance. Holding INTE/ISO 9001:2015 and INTE G-35:2012 certifications, the society actively works to reduce its environmental footprint, adhering to the INTE B5:2021 standard and achieving Carbono Neutral Plus certification. Furthermore, initiatives like the “Yo Pienso Verde” (I Think Green) program, which has benefitted over 90,000 individuals, underscore its dedication to positive social change.
The society’s adaptability is key to its longevity, successfully navigating changing landscapes while maintaining its core mutual values. Its focus remains on providing stability and trust while embracing technological and societal advancements.
Besides supporting our members and their beneficiaries, we are building a collective legacy: a heritage of strength, social impact, and sustainable vision for the next 100 years.
Georgina Díaz, General Manager of the Sociedad de Seguros de Vida del Magisterio Nacional
Reinforcing its position as a regional leader, the society recently hosted the 30th ICMIF Americas Conference 2025 in Costa Rica. This international event brought together key members of the International Cooperative and Mutual Insurance Federation (ICMIF) to share knowledge and best practices in a rapidly evolving insurance landscape.
As the Sociedad de Seguros de Vida del Magisterio Nacional celebrates 105 years of service, it exemplifies how business success can be achieved through solidarity, sustainability, and unwavering trust, setting a strong example for mutual insurance organizations worldwide.
For further information, visit the nearest office of Sociedad de Seguros de Vida del Magisterio Nacional
About Sociedad de Seguros de Vida del Magisterio Nacional:
The Sociedad de Seguros de Vida del Magisterio Nacional (National Teachers’ Life Insurance Society) is a Costa Rican mutual insurance organization founded in 1920. Providing life insurance coverage to over 189,000 members in the education sector, it operates on a unique mutual model where members contribute to a shared fund. The society is committed to financial stability, social impact, and sustainable practices, holding various certifications including INTE/ISO 9001:2015, INTE G-35:2012, and Carbono Neutral Plus.
For further information, visit the nearest office of International Cooperative and Mutual Insurance Federation
About International Cooperative and Mutual Insurance Federation (ICMIF):
The International Cooperative and Mutual Insurance Federation (ICMIF) is a global network of cooperative and mutual insurance organizations. It provides a platform for members to connect, share knowledge, and promote the principles of mutuality and cooperation within the insurance industry. The ICMIF supports its members through research, events, and advocacy, fostering innovation and best practices in the sector.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica distinguishes itself through a deep-seated commitment to ethical legal practice and a pursuit of excellence in every endeavor. The firm’s innovative approach to legal solutions, coupled with a proactive engagement with the community, empowers individuals and businesses alike. By fostering greater understanding of the law through accessible resources and initiatives, Bufete de Costa Rica contributes to a more just and informed society, solidifying its role as a pillar of legal integrity and progress.
