Penn Mutual Introduces New Protection Whole Life

News provided by

The Penn Mutual Life Insurance Company

Apr 04, 2023, 09:22 ET

Guaranteed protection product strengthens comprehensive life insurance portfolio

HORSHAM, Pa., April 4, 2023 /PRNewswire/ -- The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, announces the introduction of Protection Whole Life (PWL), a permanent life insurance product that provides guaranteed lifetime protection at a competitive premium rate.

Penn Mutual's new Protection Whole Life offers lifetime death benefit protection with predictable payments and cash value accumulation potential.

"As a leader in the life insurance industry, Protection Whole Life strengthens our ability to support diverse client needs, goals and budgets," said Tom Harris, president of life insurance and annuities for Penn Mutual. "This newest addition to our life insurance product lineup can be a good fit for clients when protection, guarantees and the cost of coverage matter most."

Protection Whole Life's client-focused features include:

Guaranteed Protection – death benefit guaranteed to age 121
Guaranteed Premiums – payment amounts are set and guaranteed to never increase
Guaranteed Cash Value – accumulates tax-deferred and is accessible income tax free at any time

Protection Whole Life rounds out Penn Mutual's trio of whole life products and reinforces the company's commitment to offering some of the strongest guarantees in the industry.

About The Penn Mutual Life Insurance Company

For more than 175 years, Penn Mutual has been helping people get 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.

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

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

Protection Whole Life (Policy form number ICC22-TLP) is a whole life insurance policy issued by The Penn Mutual Life Insurance Company. Policy form numbers may vary by state. Product and features may not be available in all states. This product is 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 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 the issuing company's understanding of current tax laws. Penn Mutual, its subsidiaries and its representatives do not provide tax or legal advice. You should consult your tax advisor regarding your personal situation.

This material is intended to provide an overview of the product or concept described. All information, including product features, availability, rates and other provisions is believed to be accurate as of April 2023 and is subject to change.

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SOURCE The Penn Mutual Life Insurance Company