PHILADELPHIA, PA — Penn Mutual Life Insurance Company has expanded its offerings with the introduction of Accumulation Whole Life, a new life insurance product designed to bolster financial security while building wealth. This addition aims to offer policyholders guaranteed death benefit protection along with significant accumulation potential.
“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,” stated Ray Caucci, Chief Product Officer at Penn Mutual.
The new policy includes competitive long-term cash value and death benefit internal rates of return, with flexible payment plans ranging from 5 years to age 100. It also features 13 riders, such as an Overloan Protection Rider, enhancing its adaptability to various financial strategies.
Jennifer Dorfmeister, Chief Distribution Officer, emphasized, “We listened to the feedback of our financial professionals, and designed a reliable whole life solution that helps meet the needs of their business.”
Policyholders will also be eligible for annual dividends, a benefit Penn Mutual has consistently provided for over 175 years, although these dividends are not guaranteed. This move reinforces Penn Mutual’s commitment to offering comprehensive solutions that support financial growth and security.
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