Broker Check

Protection

Life Insurance Basics

There are two basic types of life insurance to plan for life’s needs and goals, term life and permanent life. An easy way to understand the difference is to look at the names themselves. Term is a time-based solution similar to “renting” – as it runs out on a given date. Permanent is a lifetime solution similar to “owning” – as it stays with you, grows in value and can used throughout your life.

Term Life Insurance
Guaranteed Term 10-15-20 is a term life insurance policy designed to provide you with peace of mind by providing a guaranteed death benefit, affordable premiums guaranteed to stay level for 10, 15 or 20 years an d flexibility to convert all or part of your term policy to permanent life insurance* without underwriting.

Permanent Life Insurance
Permanent life insurance products are designed to provide protection while building cash value. Borrowing from the cash value gives you the opportunity to help meet future goals. When permanent life insurance is the central part of a sound financial plan, it provides protection plus cash value that can help people do more throughout their lives. Read below to learn more about these possibilities of permanent life insurance.

Refer to the chart below for more information on the differences between Term and Permanent life insurance.

 

 

Term

Permanent

Main Purpose

Short-term protection needs

Long-term protection plus cash value accumulation to meet financial needs and goals

Coverage Duration

Limited time-generally 5 to 20 years. Work coverage typically ends when employment does

Lifetime coverage as long as premiums are paid

Builds Cash Value

Not applicable

Accumulates cash value on a tax-deferred basis

Access to Cash Value

Not applicable

Yes*

Cost

Lower in early ages, increases with age, policy length and health changes.

Initially higher than term, but becomes more cost effective than term as you age.

Contact a Penn Mutual Adviser who can help you determine your needs and choose the right products for you. All information will remain strictly confidential.


Whole Life

  • Guaranteed Choice Whole Life is a permanent life insurance policy designed to provide you with:
  • Guaranteed death benefit protection over your lifetime
  • Guaranteed policy cash value accumulation you can access when you need it
  • Guaranteed premiums (your cost stays the same over the years)

Cash Accumulation

Guaranteed Choice Whole Life provides cash value accumulation that offers guaranteed growth without market risk. You can access the policy cash value for any reason or simply have peace of mind knowing your money will be there when you and your family need it.

Guaranteed Choice Whole Life also offers the potential for additional (non-guaranteed) cash value accumulation through dividends, which are a partial return of premiums paid when the company’s claims, expenses and/or investment returns are more favorable than expected.

If you are a business owner, the protection and accumulation provided by your policy can also help support your business objectives.

All guarantees are based upon the claim-paying ability of the issuer.

Dividends are not guaranteed

Accessing cash values will reduce the death benefit and policy values.

Who Might Benefit
Guaranteed Choice Whole Life is an attractive option for people who:

  • Seek strong guarantees
  • Desire reliable, predictable results that are not subject to market risk
  • Want payment and protection options that can help them manage their budget.

Contact a Penn Mutual Adviser who can help you determine your needs and choose the right products for you. All information will remain strictly confidential.


Term Life

Seeking protection today with options for tomorrow.

Guaranteed Term 10-15-20 is a term life insurance policy designed to provide you with:

  • Peace of mind by providing a guaranteed death benefit
  • Affordable premiums guaranteed to stay level for 10, 15 or 20 years
  • Flexibility to convert all or part of your term policy to permanent life insurance* without underwriting

* Conversion available during certain coverage periods. Available up to age 70 (in NY, later of age 60 and the level period)

Who Might Benefit

Guaranteed Term 10-15-20 is an attractive option for people:

  • Looking for a cost effective way to obtain protection that can adjust to meet future needs.
  • Unable to obtain the amount of permanent coverage needed

All guarantees are based upon the claim-paying ability of the issuer.

 

Wills & Trusts

Introduction to Estate Planning
Are your heirs and business protected against Uncle Sam and tax liabilities?

Most people think estate planning is only for the very wealthy.  But, it’s especially important for business owners, since a significant portion of your estate –your family’s source of income after your death – is tied to the business. 

Without proper planning to protect your heirs, your death could result in a significant tax liability, which can lead to negative cash flow or even insolvency.  Don’t let your legacy and everything you have worked so hard to build be lost to taxes. 

3 Steps to Protecting Family and Business with Estate Planning:

  • Plan for Asset Distribution  
  • Implement Strategies to Reduce Taxes and Estate Settlement Costs
  • Fund Remaining Debts, Taxes, and Expenses

Contact a Penn Mutual Financial Advisor who can help you determine your needs and choose the right solutions for your business. All information will remain strictly confidential.


Complete Value Life Insurance

A sound financial plan is essential to ensure a smooth path through life. And a plan centered on life insurance can help you guarantee protection, accumulate cash value and unlock possibilities at each stage of life, such as:

  • Helping with college education
  • Supplementing retirement income
  • Starting a business
  • Accessing emergency cash and much more.

Many people don’t realize that permanent life insurance is more than vital death benefit protection.  It also accumulates cash value that can provide benefits during your life, strengthens your other financial solutions and delivers an enduring impact by allowing you to leave a legacy to future generations.

Yet, many people remain uninsured or underinsured because they don’t know how much life insurance can do for them during their lifetime.


Universal Life Insurance

Affordable and flexible lifelong protection

Universal Life is a permanent life insurance policy designed to provide you with:

  • Guaranteed death benefit protection over your lifetime
  • Flexible premiums
  • Access to policy cash value if you need it

Our Universal Life Products

Accumulation Builder Select Indexed Universal Life*

Accumulation Builder Select Indexed Universal Life is a permanent life insurance policy offering:

  • Guaranteed death benefit protection and options for added security
  • Built-in enhancements to help maximize cash value accumulation potential
  • Multiple ways to access policy cash value

* Not currently available in New York.

Accumulation Builder Advantage Indexed Universal Life

Accumulation Builder Advantage Indexed Universal Life is a permanent life insurance policy designed to provide you with:

  • Death benefit protection with premium flexibility
  • Strong policy cash value accumulation potential
  • Multiple ways to access the policy cash value

Protection Guard Universal Life

Protection Guard Universal Life is permanent life insurance that offers strong death benefit protection at a competitive cost, added security during your lifetime and solutions to secure your legacy.

Guaranteed Protection Universal Life

Provides cash value accumulation that can serve as a source of funds in an emergency or if you need to skip a premium payment. You can access the policy cash value for any reason or simply have the peace of mind knowing your money will be there when you and your family need it.

 

Variable Universal Life

Diversified Growth Universal Life Insurance

Diversified Growth Variable Universal Life (VUL) is a permanent life insurance policy designed to provide you with:

  • Solid insurance protection over your lifetime
  • Potential for strong tax-deferred cash value accumulation
  • Flexibility to adjust the policy as your needs and objectives evolve.

Optional Benefits & Riders

Protection and accumulation that adjust with your life stages.

The values of the underlying investment options are not guaranteed and are subject to market fluctuations and may lose value.

Investors should consider the investment objectives, risks, charges, and expenses of a variable insurance product carefully before investing.  Please carefully read the prospectuses for the relevant variable insurance product and its underlying investment options, which contain this and other information about the product. 

 

Joint or Survivorship

Survivorship Plus Select Indexed Universal Life

Survivorship Plus Select Indexed Universal Life is a permanent life insurance policy designed to cover two individuals and provides:

  • Cost-effective permanent second-to-die death benefit protection
  • Strong policy cash value accumulation potential
  • Multiple ways to access the policy cash value
  • Built-in enhancements to help maximize cash value accumulation potential

*Not currently available in CA, DC, DE, NH, NV, NY and OR.

Survivorship Plus Indexed Universal Life

Survivorship Plus Indexed Universal Life is a permanent life insurance policy designed to cover two individuals and provides:

  • Cost-effective permanent second-to-die death benefit protection
  • Strong policy cash value accumulation potential
  • Multiple ways to access the policy cash value