Penn Mutual Life Insurance Introduces Its New Protection Guard Universal Life Product

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Penn Mutual's cost-effective Protection Guard Universal Life product offers policyholders permanent death benefit protection as well as added security and opportunity with additional riders available.

The Penn Mutual Life Insurance Company

The Penn Mutual Life Insurance Company, a more than 166-year-old company, announces its new Protection Guard Universal Life product that offers cost-effective, permanent death benefit protection as well as added security and opportunity during a policyholder’s lifetime.

The Protection Guard Universal Life product is a lower cost universal life product that enhances Penn Mutual’s overall life insurance portfolio and offers several distinct advantages:

  •     A guaranteed death benefit that can provide protection and financial security for beneficiaries, serve as a tax advantaged wealth transfer solution or provide immediate liquidity to support estate or business continuation plans. (1)
  •     A no-lapse guarantee for up to 30 years that can help ensure policy death benefits remain secure. (1)
  •     Predictable policy cash value accumulation in a fixed account that can be accessed for emergencies or used to offset monthly policy costs during and beyond the no lapse guarantee period. (2)
  •     A two percent minimum interest rate guarantee with the opportunity for higher crediting rates in the future if market interest rates continue to trend higher.
  •     Premium and death benefit flexibility in the event the policyholder’s protection needs or financial situation changes.

Protection Guard Universal Life also offers riders that deliver living benefits if the insured becomes chronically ill or disabled. (3) The Chronic Illness Accelerated Benefit Rider is automatically included on all eligible policies at issue — at no additional cost. (4) This valuable benefit allows policyholders to access a portion of their death benefit if the insured person is diagnosed with a chronic illness. The money can be used to help reduce out-of-pocket medical expenses, shift the burden of care away from loved ones or for any purpose. Two optional disability riders, designed to help ensure the policy will not lapse if the insured person becomes totally disabled, are also available.

“Protection Guard Universal Life is a great addition to Penn Mutual’s existing life insurance product portfolio,” said Andrew Martin, Assistant Vice President, Product Management for The Penn Mutual Life Insurance Company. “It offers clients lower-cost death benefit protection that can meet a wide range of needs—while also providing them with extra security during their lifetimes through accessible cash value accumulation and riders with living benefits. Protection Guard Universal Life can help policyholders ensure they will leave an enduring impact on the lives of their beneficiaries.”

For more information about Penn Mutual’s Protection Guard Universal Life product, please visit

(1) All guarantees are based on the claims paying ability of the issuer. The duration of the no lapse guarantee is up to the lesser of 30 years or age 85 at no additional cost. The actual number of no lapse years may vary based on the age of the insured but the minimum no lapse period is five years. The required no lapse premium requirement must be met to maintain the no lapse guarantee. Depending on funding, the cash surrender value in early policy years is likely to be minimal.

(2) Accessing cash values may result in surrender fees and charges may require additional premium payments to maintain coverage and will reduce the death benefit and policy values.

(3) Optional riders and benefits may be subject to eligibility and underwriting requirements, additional premium requirements and/or minimum or maximum coverage amounts. Availability and rider provisions may vary by state.

(4) This benefit is automatically included on most Penn Mutual permanent life insurance policies subject to certain eligibility requirements. There is no charge for this protection at issue and no impact on the policy unless the benefit is used. Exercising this benefit will reduce the policy death benefit and value, but it can provide resources a family needs if a chronic illness strikes. Not available in CA, MD and WA. State variations apply. In TX: Rider name is The Long Term Care Illness Accelerated Benefit.

Protection Guard Universal Life is a universal life insurance policy offered by The Penn Mutual Life Insurance Company. Policy form numbers ICC-13 FL and FL-13. (Policy form numbers may vary by state.) Product or features may not be available in all states.

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 purchasing 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 .


©2013 The Penn Mutual Life Insurance Company, 600 Dresher Road, Horsham, PA 19044

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Joe McIntyre
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Keith Bratz
Penn Mutual
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