PHILADELPHIA, PA — Penn Mutual Life Insurance Company has unveiled its latest offering, Accumulation Whole Life, designed to enhance its robust range of life insurance products. This new policy aims to provide both security and financial growth opportunities for policyholders.
Ray Caucci, Chief Product Officer at Penn Mutual, emphasized the dual benefits of the policy, stating, “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.” The policy is crafted to offer guaranteed death benefit protection along with a strong potential for cash value accumulation and unmatched flexibility.
Jennifer Dorfmeister, Chief Distribution Officer for Penn Mutual, highlighted the company’s commitment to its network of financial professionals. “We listened to the feedback of our financial professionals, and designed a reliable whole life solution that helps meet the needs of their business,” she noted. “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.”
Key features of Accumulation Whole Life include competitive long-term cash value and death benefit internal rates of return. Policyholders can choose payment periods ranging from five years up to age 100, supporting both max-funded and short-pay designs. The policy also offers 13 riders, such as an Overloan Protection Rider and two competitively priced paid-up additions riders, providing further customization options.
Moreover, Accumulation Whole Life policyholders are eligible for annual dividends from Penn Mutual. Although dividends are not guaranteed, the company has a strong track record of consistently paying them to eligible policyholders for over 175 years. This new life insurance product strengthens Penn Mutual’s position as a leading provider, offering comprehensive solutions to meet diverse financial needs.
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