Why It Matters Where You Buy Your Life Insurance
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Life insurance is a pretty big deal. It’s about building a sound financial future. Want to protect your family, start a business or buy a home? Life insurance can help you do all of these things and more, but where you buy it matters.
That’s because life insurance is not a once-and-done purchase. It’s a lifetime purchase that should evolve as your needs change. And it needs to be there for you when you need it most, like the company you buy it from.
As a mutual life insurer, Penn Mutual puts its policyholders first. What does that mean? Like other mutual companies, we are owned by our policyholders, not anonymous stockholders. It means our policyholders are the most important people to us. We run the company for them. By entrusting us with their financial futures, we make every decision in their best interest.
We have a lot of policies — or promises — on our books. So by focusing on the long term, we ensure we’ll be there to keep those promises when our policyholders need us.
It’s no secret that mutual companies are well-positioned to deliver on long-term commitments, but here’s how Penn Mutual stands apart.
Life insurance specialists
We pride ourselves on being life insurance specialists in a sea of generalists. And we’ve been very good at it for a long time. We don’t sell group life insurance, disability insurance, property and casualty insurance or long-term care. Life insurance is our focus, and that’s what makes us special.
Some companies might have a strong term product or a strong whole life product, but our strong lineup of products spans every major category of life insurance. And, as a result of our permanent life products, we were named a top 10 provider in Forbes’ ranking of The Best Life Insurance Companies.*
Building customizable solutions
One size doesn’t fit all when it comes to life insurance, so we don’t force-fit anyone into any one product. Our broad product portfolio paired with our nationwide network of highly qualified financial professionals allows us to create customizable policies for our policyholders, based on their current needs.
Today, term life insurance might suit your needs. Or the guarantees of whole life might appeal to you. Maybe variable universal life fits your risk tolerance. And if you want exposure to the stock market without actually being in it, indexed universal life might be for you.
Choice is important, but it’s not choice for the sake of choice. We are committed to providing top-level, competitive products. If we put a product in the market, it’s going to be a player that our financial professionals will be proud to recommend.
High-end experience from start to finish
A company’s reputation is largely built on the customer experience. We work relentlessly to make our policyholder and financial professional experience the best in the industry. When we build our annual business plan, one of the first questions we ask is, “How can we make their experience great?” In many ways the answer to that question drives our business plan.
A great example of this is our Accelerated Client Experience (ACE), where you can purchase a policy in as little as 24 hours, without intrusive medical exams and tests, in most cases. ACE is efficient, contactless and the industry’s leading digital experience. Once you have your policy, it’s just as easy to monitor it through our robust client portal. So, end-to-end, we provide a great experience for our policyholders.
But, it doesn’t stop there. We want to apply that same thinking to every touchpoint we have with our policyholders and financial professionals.
Backed by a strong, consistent history
Our record of financial strength rivals that of any company in the industry. We consistently earn some of the highest ratings for financial strength from the nation’s leading industry rating organizations.** Because of our ongoing financial strength and stability, we are proud of our dividend record. We’ve been paying income-tax-free dividends to eligible policyholders for more than 170 years, and over the last 20 years, our dividend remains one of the strongest and most consistent in the industry.
Making a difference
The passion of our people brings it all together. We believe in Penn Mutual. We know who we are. We know what we do, and that what we do is important. With a singular focus on mutual life insurance, we come to work every day knowing that we make a difference in the lives of our policyholders.
No matter where we sit in the organization, from our newest associate to our board of trustees, we are passionate about the security and peace of mind we give to individuals, families and businesses across America. I see this passion in our associates, in our field leaders and in the more than 15,000 financial professionals who help their clients build sound financial futures by recommending Penn Mutual.
It does make a difference where you buy your life insurance. If you’d like to learn how Penn Mutual can help you achieve your goals, contact one of our financial professionals.
*The Best Life Insurance Companies 2021, Forbes Advisor
**Ratings reflect rating agency assessment of Penn Mutual’s financial strength and claims-paying ability and are subject to change.
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.
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