Penn Mutual Strengthens Life Insurance Portfolio – InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Life Insurance
    • Annuity News
    • Health/Employee Benefits
    • Property and Casualty
    • Advisor News
    • Washington Wire
    • Regulation News
    • Sponsored Content
    • Webinars
    • Monthly Focus
  • INN Exclusives
  • NewsWires
  • Magazine
  • Free Newsletters
Sign in or register to be an INNsider.
  • INN Exclusives
  • NewsWires
  • Magazine
  • Free Newsletters
  • Insider
  • About
  • Advertise
  • Editorial Staff
  • Contact
  • Newsletters

Get Social

  • Facebook
  • Twitter
  • LinkedIn
INN Daily Newsletter Hot Off The Wires
Newswires RSS Get our newsletter
Order Prints
November 1, 2021 Newswires No comments
Share
Share
Tweet
Email

Penn Mutual Strengthens Life Insurance Portfolio

PR Newswire

HORSHAM, Pa., Nov. 1, 2021 /PRNewswire/ -- The Penn Mutual Life Insurance Company, a Fortune 1000 company, announces the introduction of two whole life insurance products that bolster its industry-leading portfolio. Guaranteed Whole Life II and Survivorship Whole Life provide guaranteed benefits and flexibility backed by more than 170 years of financial strength and consistent dividend history.


The Penn Mutual Life Insurance Company (PRNewsfoto/The Penn Mutual Life Insurance Co)

Two new whole life products provide guaranteed benefits and flexibility with long-term protection.

"These two products strengthen our highly competitive life product portfolio," said Heather Yonosh, vice president, product development and pricing. "The flexibility of coverage and payment options in both products helps policyholders choose the solution that best meets their individual needs and budgets while providing long-term protection and cash value accumulation."

Guaranteed Whole Life II (GWL II) is a permanent life insurance product that provides guaranteed lifetime death benefit protection, guaranteed premiums and guaranteed cash value accumulation that policyholders can access during their lifetime for any reason. In addition to its coverage, accumulation and premium guarantees, GWL II offers policyholders considerable flexibility, including payment periods ranging from five years or any number of years up through age 100, along with 13 optional riders to help enhance coverage.

Survivorship Whole Life (SWL) provides permanent life insurance protection for two people – like spouses or business partners – in one cost-effective policy. The guaranteed death benefit is paid to beneficiaries after the second death. SWL provides flexibility through seven available riders and two payment period choices. Policyholders can choose to pay up their policy in as few as ten years or stretch out payments until the younger insured reaches age 100.

In addition to strong death benefit guarantees, both products offer long-term policy cash value accumulation. Death benefits for both products are paid to beneficiaries income-tax-free and probate-free. When payment schedules are decided at the time of issue, premiums are guaranteed to avoid rate increases during the life of the policy. Both offerings also provide the opportunity to earn additional cash value through annual, non-guaranteed dividend payments.

About The Penn Mutual Life Insurance Company
Penn Mutual helps people become stronger. Our expertly crafted life insurance is vital to long-term financial health and strengthens people's ability to enjoy every day. Working with our trusted network of financial professionals, we take the long view, building customized solutions for individuals, their families, and their businesses. Penn Mutual supports its financial professionals with retirement and investment services through its wholly-owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at www.pennmutual.com.

©2021 The Penn Mutual Life Insurance Company, 600 Dresher Road, Horsham, PA 19044

Contact:
Jeff Leinen
Penn Mutual
215-956-8530
[email protected]

All guarantees are based on the claims-paying ability of the issuer.

Guaranteed Whole Life II (policy form ICC18-TL) is a whole life insurance policy issued by The Penn Mutual Life Insurance Company. Survivorship Whole Life (policy form ICC17-TLJ) is a last-survivor whole life insurance policy offered by The Penn Mutual Life Insurance Company. Policy form numbers, issuing company, eligibility requirements and rider provisions may vary by state. These products are not offered in New York.

Optional riders and benefits may be subject to eligibility and underwriting requirements, additional premium requirements and/or minimum or maximum coverage amounts. Availability and rider provisions may vary by state.

Accessing cash value will reduce the policy death benefit and values, may result in certain fees and charges and may require additional premium payments to maintain coverage. Policyholders should ask their financial professional for details on accessing r cash value, including how it might impact the coverage guarantees and situations when the values accessed could be taxable. Policyholders should always consult their tax advisor before accessing a policy's cash value.

Any reference to the taxation of the products in this material is based on Penn Mutual's understanding of current tax laws. Penn Mutual, its subsidiaries and its representatives do not provide tax or legal advice. Policyholders should consult their tax advisor regarding their personal situation.

Past performance is not indicative of future results. Dividends are always tax-free while they remain in the policy. Dividends taken as cash could be taxable under certain circumstances. You should always consult your tax advisor prior to accessing dividends.

3870924CC_OCT23

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/penn-mutual-strengthens-life-insurance-portfolio-301412165.html

SOURCE The Penn Mutual Life Insurance Company

Older

Local paranormal investigator to share Bigfoot, psychic experiences

Newer

Homeland Security Department; Federal Emergency Management Agency (F.R. Page 59745) – Meeting

Advisor News

  • Retirement Savers Remain Confident Despite Short-Term Woes
  • City of Memphis Helps Employees With Financial Wellness Programs
  • IRI CEO: ‘I Am Optimistic for Our Industry’s Future’
  • 2/3 Of Near-Retirees Failed Or Barely Passed A Basic Social Security Quiz
  • Crypto As National Currency? Maybe Not A Good Idea
More Advisor News

Annuity News

  • LibertyMark Freedom Fixed Indexed Annuities Launch
  • Nationwide Adds BNP Paribas Global H-Factor Index To FIA
  • Transamerica Launches Structured Index Advantage Annuity
  • Recommending FIAs: Start With The Client’s Objective
  • NC Man Wins First $5 Million Prize In Scratch-Off Game
Sponsor
More Annuity News

Health/Employee Benefits News

  • EBRI Studies Expanding Pre-Deductible Coverage For Chronic Conditions
  • Most Consumers Choose To Pay Higher LTCi Premiums
  • CMS Creates More User-Friendly Medicare Website
  • Integrity Marketing Group Buys Ritter Insurance Marketing
  • Maine Powerless In Big Fight Between Its Largest Insurer And Hospital
More Health/Employee Benefits News

Life Insurance

  • The 5 Secrets To Retaining Financial Sales Professionals
  • Life Insurance Activity Continues Dip In April But Still Stronger Than 2021, MIB Reports
  • Transamerica Adds Execs To Annuity And Life Insurance Team
  • Northwestern Mutual Invests $5M In Black-Led Financial Institutions
  • Protective Life Closes On AUL Acquisition
More Life Insurance

- Presented By -

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

FEATURED OFFERS

Get Linked INN to your industry Connect with INN on LinkedIn to be first on all the news and insights that matter to your industry.

Press ReleasesAll press releases

  • OneAmerica Commits $1 Million Toward Financial Literacy
  • Transamerica Structured Index Advantage Annuity Offers Investors More Certainty with Upside Growth and Downside Protection
  • Senior Market Sales Creates First-of-Its-Kind Lead Acquisition Platform
  • Growing financial services firm Kuvare opens Des Moines office in East Village, continuing expansion in Iowa
  • BetterLife Selects iPipeline® to Digitally Transform Its Business & Better Serve Future Generations
Add your Press Release >

Topics

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property and Casualty
  • Advisor News
  • Washington Wire
  • Regulation News
  • Sponsored Content
  • Webinars
  • Monthly Focus

Top Sections

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits News
  • Property and Casualty News
  • AdvisorNews
  • Washington Wire
  • Insurance Webinars

Our Company

  • About
  • Editorial Staff
  • Magazine
  • Write for INN
  • Advertise
  • Contact

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2022 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • Sitemap
  • AdvisorNews

Sign in with your INNsider Account

Not registered? Become an INNsider.