A mutual insurance company is an insurance organization owned by its policyholders rather than by shareholders. In a mutual insurance company, policyholders are considered members and have certain ownership rights and privileges. These rights may include voting on corporate matters, electing the board of directors, and sharing in any financial surpluses or profits in the form of dividends or reduced premiums.

One distinctive feature of mutual insurance companies is the focus on serving the best interests of their policyholders rather than maximizing shareholder returns. Instead of being traded on the stock market, mutual insurance companies operate with a mission to provide insurance coverage and financial protection to their members. Any profits generated are typically reinvested in the company, used to strengthen financial reserves, or returned to policyholders in the form of dividends.

Mutual insurance companies exist across various sectors, including life insurance, property and casualty insurance, and health insurance. The mutual structure aligns the interests of the company with those of its policyholders, fostering a sense of shared responsibility and mutual benefit. While mutual insurance companies are less common than stock insurance companies, they continue to play a significant role in the insurance industry, offering a member-focused alternative to traditional shareholder-driven models.

VSP, or Vision Service Plan, is a vision insurance company that specializes in providing vision care coverage and services. The company was founded in 1955 with the mission of making eye care accessible and affordable. VSP works with a network of eye care professionals, including optometrists and ophthalmologists, to offer comprehensive vision care services to its members.

VSP insurance typically covers a range of vision care expenses, including eye exams, prescription eyeglasses, contact lenses, and lens enhancements. Members can receive services from VSP's extensive network of eye care providers, and the insurance plan often includes benefits such as allowances for frames and discounts on additional services.

One notable aspect of VSP is its emphasis on preventive eye care. Regular eye exams are encouraged to detect and address vision issues early, contributing to overall eye health. VSP insurance plans are available to individuals, families, and employer-sponsored groups, allowing a broad range of people to access affordable and quality vision care services.

While coverage details may vary among different VSP plans, the overarching goal is to make eye care more accessible and affordable, encouraging individuals to prioritize and maintain their eye health.