The Penn Mutual Life Insurance Company Adds Guaranteed Convertible Term and Protection Non-Convertible Term to Its Extensive Life Portfolio
HORSHAM, Pa.--(BUSINESS WIRE)--Apr 1, 2019--The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 Company, introduces its latest term life insurance products, Guaranteed Convertible Term SM and Protection Non-Convertible Term SM, offering consumers two powerful term life insurance options.
Guaranteed Convertible Term offers guaranteed death benefit protection for 10-, 15-, 20- or 30-year terms, with conversion available during the term period (up to 20 years or age 70). This competitive term life product includes strong, contractual conversion guarantees that give policyholders a clear path to permanent life insurance, without proof of insurability. Protection Non-Convertible Term is designed to provide policyholders with affordable temporary death benefit protection. It offers a choice of 10-, 15-, 20- or 30-year terms.
Both products offer policyholders the opportunity to customize their coverage with optional riders that can extend coverage to children or provide added security in the event of disability or accidental death.
Andrew Martin, vice president of product management at Penn Mutual, said, “Adding Protection Non-Convertible Term to our life product portfolio allows us to better serve individuals seeking an affordable short-term protection solution. Our new convertible term life product, Guaranteed Convertible Term, continues Penn Mutual’s tradition of offering some of the industry’s strongest contractual conversion guarantees. For example, Guaranteed Convertible Term provides policyholders with a contractual guarantee that allows them to convert to any permanent product offered by Penn Mutual at the time of conversion.” Martin added, “That’s a powerful guarantee when you consider Penn Mutual’s permanent life product portfolio spans every major product category.”
For additional information about term life at Penn Mutual, please visit www.pennmutual.com.
About The Penn Mutual Life Insurance Company
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Visit Penn Mutual at www.pennmutual.com.
All guarantees are based on the claims paying ability of the issuing company. Guaranteed Convertible Term is a term life insurance policy offered by The Penn Mutual Life Insurance Company. (Policy form ICC18-LT) Protection Non-Convertible Term is a term life insurance policy offered by The Penn Mutual Life Insurance Company. (Policy form: ICC18-LT-N) Policy form numbers vary by state. Product and features may not be available in all states. Rider availability varies by product. Guaranteed Convertible Term and Protection Non-Convertible Term are not currently available in CA and NY.
©2019 The Penn Mutual Life Insurance Company, 600 Dresher Road, Horsham, PA 19044
View source version on businesswire.com:https://www.businesswire.com/news/home/20190401005791/en/
CONTACT: Karyn Piechule
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE INSURANCE
SOURCE: Penn Mutual Life Insurance Company
Copyright Business Wire 2019.
PUB: 04/01/2019 02:40 PM/DISC: 04/01/2019 02:40 PM