Penn Mutual: Indexed Universal Life.THE PENN MUTUAL Penn Mutual traces its beginning to 1847 when it became the seventh mutual life insurance company chartered in the United States. At the time of its organization there was a general distrust of stockholder-owned corporations so it was established as a mutual owned by its LIFE INSURANCE COMPANY, Horsham, Pa., and its wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. , The Penn insurance & annuity annuity: see insurance.
Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. company, have launched Survivorship survivorship n. the right to receive full title or ownership due to having survived another person. Survivorship is particularly applied to persons owning real property or other assets, such as bank accounts or stocks, in "joint tenancy. Plus Indexed Universal Life (IUL IUL Iulius (Latin: July)
IUL Illegal Use of Label ), a combination of indexed life guarantees for two individuals--either married couples, business partners or other two individuals with a mutual insurable interest--who desire protection, cash accumulation potential and flexibility in reaching their goals. All guarantees are based upon the claim-paying ability of Penn Mutual.
Because it covers two individuals in a single policy that pays out after the second death, survivorship Plus IUL can offer significant cost savings over two comparable individual policies. For couples whose protection needs call for a death benefit after the first insured's death, survivorship Plus IUL offers an optional first Death Benefit rider. The product also offers a host of other options and riders that make it possible to customize coverage based on each policyholder's specific situation and needs, including an extended no-lapse guarantee rider that can be added to extend beyond the 20-year base no-lapse guarantee (varies by issue age) up to age 121 of the younger insured.
Survivorship Plus IUL gives policyholders a minimum annual 2% interest rate floor on policy value accumulation that will be credited monthly, a guarantee that the policy cap percentage on potential indexed interest will never be less than 10% and most importantly Adv. 1. most importantly - above and beyond all other consideration; "above all, you must be independent"
above all, most especially , a no-lapse death benefit rider that can extend guaranteed protection up to age 121 of the younger insured.
Survivorship Plus IUL offers an indexed account that provides market-based growth potential with built-in downside protection Downside Protection
Generally used in connection with covered call writing, this is the cushion against loss, in case of a price decline by the underlying security, that is afforded by the written call option. . For more conservative individuals, the fixed account provides a competitive fixed interest rate and a guaranteed effective annual accumulation rate of at least 2%, regardless of market conditions.
For more information, visit www.PennMutual.com.