HORSHAM, Pa.--(BUSINESS WIRE)--Penn Mutual recently released two new universal life products, expanding on its comprehensive portfolio. The Accumulation Builder Flex Index Universal Life (IUL) and Diversified Advantage Variable Universal Life (VUL) products equip consumers with robust allocation options and propels Penn Mutual forward as a strong competitor in the market with an emphasis on new and unique indexed accounts.
The Accumulation Builder Flex IUL presents a tax-efficient, flexible death benefit solution that provides consumers strong upside potential with guaranteed downside protection, including a guarantee of at least 1% interest growth. The new product offers five diverse indexed account options – each with a variety of built-in guarantees – designed to perform uniquely across multiple market scenarios. In addition to providing an income-tax-free death benefit, the IUL also provides top-tier competitive cash value growth that consumers can access through loans or withdrawals at any time.
The Diversified Advantage VUL provides enhanced diversification and flexibility, allowing consumers to allocate to a host of varying investment options, including the addition of 2 unique indexed fixed accounts. In conjunction with the diverse suite of available sub-accounts, the indexed fixed accounts offer clients the ability to customize and align cash value growth potential with personal risk tolerance at different stages of life. This robust suite of allocation options allow consumers to generate strong market upside, while still providing protection and the flexibility to change allocations as risk tolerance evolves. The diversity of allocation options in the VUL offers stiff competition to similar products in the marketplace, as well as to emerging leveraged IUL products across the industry.
“By innovating these two products, we are providing our advisers with a suite of offerings that can help them better serve clients,” explained Heather Yonosh, VP, product development and pricing at Penn Mutual. “The needs of clients across different demographics and risk tolerances are constantly changing. It’s incumbent upon our business - and industry - to arm our adviser force with strategies that ultimately bolster a client’s financial objectives, can provide retirement planning benefits, and leave behind a legacy for future generations.”
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. Penn Mutual supports its advisers with retirement and investment services through its wholly owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at www.pennmutual.com.
©2020 The Penn Mutual Life Insurance Company, 600 Dresher Road, Horsham, PA 19044
Accumulation Builder Flex IUL (Policy form ICC18-PI-IFL) is an indexed universal life policy issued by The Penn Insurance and Annuity Company, a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
Diversified Advantage Variable Universal Life (policy form ICC19-VFL) is a flexible premium, adjustable variable universal life insurance policy offered by The Penn Mutual Life Insurance Company. Policy form numbers, issuing company, eligibility requirements and rider provisions may vary by state.
All guarantees are based upon the claims-paying ability of the issuer.
Accessing cash value will reduce your policy death benefit and values may result in certain fees and charges. Loans will nullify the no-lapse guarantee. You can reinstate the no-lapse guarantee by repaying outstanding loans. Ask your adviser for additional information about accessing cash value, including circumstances under which the values you access could be taxable. You should always consult your tax professional prior to accessing policy cash value.
Variable Universal Life products are subject to market fluctuations and may lose value. They must be preceded or accompanied by their respective prospectuses and the underlying investment option’s prospectus. Investors should carefully consider the investment’s objectives, risks, charges and expenses before investing. These products are not FDIC/NCUA insured, are not bank or Credit Union guaranteed, may lose value, are not a deposit and not insured by any federal government agency. Investors can obtain prospectuses from a Penn Mutual financial professional or go to www.pennmutual.com. Penn Mutual’s variable products are primarily offered through Hornor, Townsend & Kent, LLC. (HTK), Registered Investment Advisor, Member FINRA/SIPC, 600 Dresher Road, Horsham, PA 19044, 215-957-7300. HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
