Despite the turmoil you may have recently read about in the life insurance industry, Penn Mutual has been in growth mode for several years and continues on that path with a very focused strategy. We’re steadfast and focused on growing our career distribution channel, and I encourage anyone considering a job or career change to take a close look at working with Penn Mutual.
Here are the top five reasons why financial professionals love working with Penn Mutual:
- We don’t believe financial professionals are an expense. Simply put, we treat financial professionals like customers. This contrasts with other firms in the life insurance industry, where financial professionals are considered an expense that needs to be squeezed for every spare bit of extra margin.
- We’re a financially strong mutual company. As a mutual company, we report to our policyholders, and financial professionals like that we take care of their clients. Policyholders are first in line for us, always. Other companies may report to their shareholders, but not us, because we don’t have any! And, we’ve paid a dividend every year since we were founded in 1847. Since the financial crisis in 2008, Penn Mutual has increased or maintained its dividend scale and over the past five years increased the dividend award payout.* Our analysis shows that we are unique among our major competitors in this achievement. We’re also focused on America, while other, more profit-oriented companies are giving greater emphasis to international markets.
- We carry great products. Our product portfolio takes the best offerings of stock companies and mutual companies, combining it into one. We have a very strong whole life product, which is the sweet spot for mutual companies. We have a very strong IUL, which is a product more often associated with stock companies. We have a strong UL. We have a strong guaranteed UL.** We have strong term insurance and a strong survivorship offering. We run the gamut. We also have competitive annuities and a great broker dealer in Hornor Townsend & Kent.
- We have exceptional field leadership. Penn Mutual’s industry leaders are heavily involved in GAMA (General Agents and Managers Association), AALU, and The American College. We have a local presence, and our financial professionals appreciate that. We’ve more than doubled in sales and in the number of financial professionals since the financial crisis, our field leadership has grown as well, and it’s grown in diversity. Most of all, our field leadership is passionate about their financial professionals and their success. Like the old saying goes, “people don’t care about how much you know until they know how much you care.” Our leaders care deeply about their financial professionals and are experts at helping them develop their careers.
- We offer tremendous development opportunities. We’ve taken the best practices of the industry to deliver a platform that helps financial professionals build their practices and their teams. Our financial professional development platform gets a new financial professional off to a successful fast start or helps an experienced financial professional take their practice to the next level. It includes such industry best practices as Advocacy, Sandler Selling, Financial Stories™ through LEAP® and teaming.
Visit our Career Opportunities section to learn more.
* Policy dividends are a partial return of premiums paid when the company’s claims, expenses and/or investment returns are more favorable than expected and are not guaranteed.
** All guarantees are based on the claims paying ability of the issuer.
LEAP® and Financial Stories™ are trademarks and service marks of Leap Systems, LLC which is an independent affiliate of Penn Mutual Life Insurance Company (PML). Trademarks belong to their respective owners. It is important to note that the implementation of any strategies provided as a part of LEAP are designed to aid one in reaching their financial goals, but no assurance can be made that these goals will in fact be reached. Individual results may vary.
This post is for informational purposes only and should not be considered as specific financial, legal or tax advice. Depending on your individual circumstances, the strategies discussed in this presentation may not be appropriate for your situation. The information in this material is not intended as tax or legal advice. Always consult your legal or tax professionals for specific information regarding your individual situation.