With Less Than Half of U.S. Households Owning Individual Life Insurance,* The Penn Mutual Life Insurance Company Offers Tips on the Complete Value of Life Insurance

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Horsham, Pa. (PRWEB) September 04, 2012

This September, as part of Life Insurance Awareness Month, The Penn Mutual Life Insurance Company urges consumers to consider permanent life insurance for all of life’s possibilities – not only for its death benefit, but also for its potential to build cash value. The company offers these tips for making life insurance the first part and center of a financial plan:

• Buy permanent life insurance and supplement with term. Life insurance is more than death protection. Permanent life insurance provides death protection and the opportunity to build cash value, which could be used for living needs like paying for college, starting a business, hosting a wedding or supplementing retirement income. This kind of insurance can be supplemented with term insurance.
• Buy life insurance early. Despite the popular beliefs that life insurance is just for people with families and it’s not affordable until middle age, it’s actually generally less expensive to purchase life insurance when you are young and in good health.
• Make your overall financial plan work harder. Life insurance can provide protection that is designed to strengthen other financial products, such as annuities, investments and disability insurance, allowing them to do their intended purpose.
• Update life insurance policies as life changes. Life insurance should keep pace with your needs, or those of your family or small business. For example, a new baby or a new home are good reasons to consider whether you have enough life insurance.
• Talk with a financial professional—regularly. A financial professional can work with you to determine how to make the most of your life insurance at every stage of your life.

Accessing life insurance policy cash values through loans and withdrawals will reduce the stated cash value and death benefit amounts, and may result in surrender fees and other charges. Because individual circumstances may vary, it is important to seek the assistance of a qualified advisor to assess the appropriateness of any referenced financial strategies. Not a guarantee of future performance or success.

About The Penn Mutual Life Insurance Company
Since 1847, Penn Mutual has been driven by our noble purpose to create a world of possibilities. At the heart of this purpose is the belief that life insurance is the most protective, responsible and rewarding action a person can take, and is central to a sound financial plan. The company is committed to helping families unlock life’s possibilities through life insurance and annuity solutions. This is accomplished through a national network of financial professionals, who help clients make great things possible. Penn Mutual supports its field representatives with brokerage services through Hornor, Townsend & Kent, Inc., Registered Investment Advisor and wholly owned subsidiary. Member FINRA/SIPC. Visit Penn Mutual on the Internet at http://www.pennmutual.com/ .

*Source: LIMRA 2010 Life Insurance Ownership Study

©2012 The Penn Mutual Life Insurance Company, 600 Dresher Road, Horsham, PA 19044

A2RB-0830-04E2

CONTACT:
Joey Lee                        
Karma                        
(215) 790-7834                        
jlee(at)karmaverse(dot)com                    

Keith Bratz
Penn Mutual
(215) 956-7907
bratz.keith(at)pennmutual(dot)com

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