Mutual - Life Insurance
Mutual - Celebrating a Rich Past and a Promising Future
Penn Mutual founded, chartered, and in business.
First death claim paid on October 20 -- $4,963.33 on the
life of William B. Cooper.
The company appoints the first traveling agent, Rodolphus
John W. Hornor, founder of Penn Mutual, retires.
Penn Mutual issues its first annuities.
Penn Mutual's assets pass the $100 million mark.
Penn Mutual's insurance in force reaches $1 billion.
Penn Mutual issues its first retirement income policy.
Assets pass the billion dollar mark.
More than a million Penn Mutual policies and master group
contracts are in force.
Penn Mutual Equity Services is formed to act as a broker/dealer
for Penn Mutual registered products. (This subsidiary
is now called Hornor, Townsend & Kent, Inc.)
Penn Mutual insurance in force reaches $10 billion.
The Penn Insurance and Annuity Company, a wholly-owned
stock insurance subsidiary, is incorporated.
Penn Mutual is the first eastern mutual life insurance
company to offer universal life insurance. Penn Mutual
acquires Janney Montgomery Scott, Inc., a stock brokerage
The Customer Service Department is the first to move to
a new home in Horsham, Pa., followed by the rest of the
home office by 1990.
A single premium variable life product is introduced.
The company acquires The Pennsylvania Trust Company, an
investment management company.
Life insurance in force reaches $30 billion.
Penn Mutual surpasses the $1 billion mark in variable
life and annuity assets.
Penn Mutual observes its Sesquicentennial anniversary
and establishes a trust at The American College in celebration
of its 150 years.
Penn Mutual establishes the first named professorship
at The American College in honor of Charles E. Drimal,
a revered Penn Mutual general agent.
Penn Mutual - A Competitive Product Portfolio
Mutual provides Life Insurance and Annuities, which can play
an important part in your financial plan. Once you have a
basic understanding of the general types of life insurance
products and annuities that are available, use this section
to compare and find out the specific details on each of Penn
Variable Universal Life
Universal Life Insurance provides an adjustable death benefit
and flexible premiums, provided that there is sufficient cash
value to cover all policy charges and expenses each year.
Cash values are based on the performance of separate subaccount
investments held in the policy (and not on current interest
rates.) Your policy's earning potential is linked to the investment
performance of these sub-accounts. Investment return and principal
value of the sub-accounts will vary so that you may have a
gain or a loss of cash value at redemption.
Provides permanent life insurance protection. It is the
life insurance element that empowers this product to offer
the potential of tax-deferred investment growth. Protection,
flexibility and investment choices-all in one product.
Variable EstateMax II is a Survivorship
Life Insurance policy. Survivorship Life, also called Second-to-Die
Insurance, is coverage provided for two people, under one
contact--usually spouses. Survivorship life insurance is one
way to protect your estate from a substantial tax burden.
The death benefit is paid to the named beneficiary at the
death of the second insured.
Variable EstateMax II allows you to combine protection, flexibility,
and growth potential into one estate planning tool. You control
where your premium dollars are allocated. The cash value in
your policy is based on the performance of separate subaccount
investments held in the policy (and not on current interest
rates)-helps you to build a program to suit your investing
comfort level and current financial objectives.
Universal Life Insurance
Life Insurance provides permanent protection with flexible
premiums and cash value accumulations based on current interest
Keystone UL can change as your needs change throughout
your life. The policy provides death benefit protection at
competitive costs while offering both built-in premium and
death benefit flexibility, and is used when death benefit
protection is a primary consideration.
Independence Builder III helps give you control over your
financial future. It provides a Flexible Premium Adjustable
Life Policy which provides permanent protection and cash value
accumulation at current interest rates. The policy can be
used when cash accumulation is your primary need.
EstateMax is a Survivorship Life Insurance Policy. Survivorship
Life, also called Second-to-Die Insurance, is coverage provided
for two people, usually spouses, under one contract. Survivorship
life insurance provides an economical way to protect your
estate from a substantial tax burden. The death benefit is
paid to the named beneficiary at the death of the second,
or surviving insured. EstateMax combines the flexibility of
universal life with the economy of a survivorship policy.
The policy provides you with the security of a competitive,
fixed interest rate, so you can feel confident in knowing
that your estate will be protected.
Whole Life Insurance
Life Insurance provides a level death benefit at a guaranteed
level premium. It offers guaranteed cash values and the potential
to participate in company surplus earnings in the form of
Offers level premiums for the life of your policy. Your premiums
will never increase, your death benefit is guaranteed, and
your policy systematically builds cash value.
Gives you the life insurance protection you want and the flexibility
you need. LifeWise Plus allows you to customize your policy
by combining term insurance (through the Supplemental Protection
Rider) and permanent insurance in one policy. You can mix
and match them to fit your budget.
insurance is designed for individuals with a temporary need
for coverage. It pays a benefit only if you die while the
policy is in force. This basic form of insurance offers the
most initial protection for the least amount of premium.
10, 15, 20 Year Level Premium Term Insurance
PennChoice give you real purchasing power when you need a
sizable amount of coverage without the higher premiums normally
associated with a permanent insurance policy.