Penn Mutual Life Insurance Reviews 2022

Penn Mutual Life Insurance Products

Penn Mutual provides shoppers with two types of life insurance: Permanent Life and Term Life. With permanent life insurance you’re looking to get lifetime coverage. Term life provides temporary coverage.

Term Life Insurance

With a term life policy you can select a term length of 10, 15 or 20 years. You also have the option to convert some or all of your coverage to a permanent Penn Mutual policy. Your premium will stay the same (level) for the entire term, but will be more expensive if you change to permanent coverage.

Permanent Life Insurance

Universal life

There are several types of universal life insurance policies that are available to you. These include Guaranteed Universal Life, Indexed Universal Life, and Variable Universal Life.

Guaranteed Universal Life

With Guaranteed Universal Life, you’re getting the most affordable lifetime coverage. Also known as “Lifetime Term”, it provides the affordability of term but with lifetime protection.

Whole life

With whole life insurance, your cash value will grow at a rate that is guaranteed. Remember that Penn Mutual is a mutual life insurance company. You Penn Mutual whole life policy has the ability to gather more cash annually in the years when they pay out their dividends.

Penn Mutual’s Guaranteed Choice Whole Life provides excellent guarantees for shoppers looking for permanent coverage. These include:

  • 4% Guaranteed Interest (Minimum)
  • Death Benefit that’s guaranteed
  • Cash Value Accumulation guarantees
  • Level Premium that is guaranteed

>>More: Term vs Whole Life Insurance

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