New Accumulation Whole Life Delivers More Growth and Flexibility

News provided by

The Penn Mutual Life Insurance Company

Sep 23, 2024, 07:00 ET

PHILADELPHIA, Sept. 23, 2024 /PRNewswire/ -- The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, has announced the addition of Accumulation Whole Life to its robust life insurance lineup.

"Accumulation Whole Life isn't just about helping individuals protect their loved ones; it's about empowering them to build wealth and help create a more secure financial future," said Ray Caucci, Penn Mutual's Chief Product Officer. "This new offering is designed to provide guaranteed death benefit protection, strong accumulation potential and flexibility that is nearly unmatched in a whole life product."

"We listened to the feedback of our financial professionals, and designed a reliable whole life solution that helps meet the needs of their business," said Jennifer Dorfmeister, Penn Mutual's Chief Distribution Officer. "We pride ourselves on being the go-to whole life provider for our network of financial professionals, and this latest addition to our portfolio reaffirms our unwavering commitment to them and their clients."

Individuals have many reasons to choose Accumulation Whole Life, including:

Competitive, long-term cash value and death benefit internal rates of return (IRR)
Payment periods ranging from 5 years to age 100 to support max-funded and short-pay designs
13 riders including an Overloan Protection Rider (one of two in the whole life space) and two competitively priced paid-up additions riders

Accumulation Whole Life policyholders are eligible to receive annual dividends from Penn Mutual. While dividends are never guaranteed, Penn Mutual has consistently paid dividends to eligible policyholders for more than 175 years.

With Accumulation Whole Life, Penn Mutual is not only enhancing its product portfolio but also reinforcing its commitment to delivering leading life insurance solutions.

About The Penn Mutual Life Insurance Company

For over 175 years, Penn Mutual has empowered individuals, families and businesses on the journey to achieve their financial goals. Through our partnership with Financial Professionals across the U.S., we help instill the confidence and reliability that comes from a stronger financial future. Penn Mutual and its affiliates offer a comprehensive suite of competitive products and services to meet the unique needs of Financial Professionals and their clients, including life insurance, annuities, wealth management and institutional asset management. To learn more, including current financial strength ratings, visit www.pennmutual.com.

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Contact:

Stephanie Kensy
Penn Mutual
(215) 956-8337
[email protected]

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

Accumulation Whole Life (Policy form number ICC18-TL) is a whole life insurance policy offered by The Penn Mutual Life Insurance Company. The Overloan Protection Benefit Rider (Rider form number ICC13-TL-SE) is included with the purchase of the underlying whole life policy. The Enhanced Permanent Paid-Up Additions Rider (Rider form number ICC17-TL-EPPUA), Flexible

Protection Rider (Rider form number ICC18-TL-FP) and Accelerated Permanent Paid-Up Additions Rider (Rider form number ICC17-TL-APPUA) are optional riders available only with the purchase of the underlying whole life policy. Policy form number may vary by state. Product and features may not be available in all states. This product is not offered in New York.

Built-in and optional riders may be subject to eligibility and underwriting requirements, additional premium requirements and/or minimum or maximum coverage amounts. Exclusions and limitations may apply. Availability and provisions may vary by state.

SOURCE The Penn Mutual Life Insurance Company