penn mutual insurance accumulation builder choice iul

Penn Mutual is in the top 15% of all companies we reviewed in terms of low numbers of complaints. You'll have to contact an agent for pricing information on any policy.

Online quotes not available on the website: Many other insurers’ websites provide quick life insurance quotes for term coverage, but Penn Mutual’s does not.

But customers must reach out to a representative to open a new plan with Penn Mutual.

Online applications not available: Some companies let you apply for term policies or guaranteed issue policies online without the help of an agent.

Customers will have to explore the site carefully or call a company representative to get more detailed descriptions of the various policy offerings.

Limited website information: Coverage summaries on Penn Mutual’s website are overly general.

As one of the country’s largest insurance companies, this is impressive.

Very few customer complaints: Only 2 customer complaints were filed against Penn Mutual for life insurance in 2022, and only 10 in 2021.

This is the highest amount we encountered for no-medical-exam life insurance in our research, and Penn Mutual claims it’s the highest amount out there.

High coverage no-medical-exam life insurance available: A number of Penn Mutual policies can be opened without a medical exam for coverage up to $7.5 million, and coverage may be approved the same day.

New York Life comes in a close second with 169 straight years of life insurance dividend payments.

Strong dividend-paying history: The company has the longest dividend-paying history of the 91 life insurance companies we reviewed.

Other companies may require you to convert within the first 10 years of the policy. You can also convert the death benefit to permanent coverage during the term period selected, up to 20 years, or until you turn 70, whichever happens first.

This is a nice feature compared to some companies that don’t make their entire portfolios available for term conversion. Generous term conversion options: Penn Mutual lets you convert its Guaranteed Convertible Term policy to any of its whole life products.Penn Mutual did well across all age groups. We gathered quotes across a range of ages for healthy males and females for 30-year $250,000 policies. Well-priced term policies: Penn Mutual has the fourth-cheapest term policies of the 32 companies for which we collected rates.

Penn mutual insurance accumulation builder choice iul