The Penn Mutual Life Insurance Company Reintroduces the Extended No-Lapse Guarantee Rider with Its Survivorship Plus® IUL Product

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The Survivorship Plus® Indexed Universal Life (IUL) product from Penn Mutual offers a number of advantages to policyholders.

The Penn Mutual Life Insurance Company

The Penn Mutual Life Insurance Company reintroduces the Extended No-Lapse Guarantee rider offered as an optional benefit designed to provide added protection through its Survivorship Plus® Indexed Universal Life (IUL) product.

Penn Mutual’s Survivorship Plus® IUL product offers several distinct advantages:

  •     Permanent, guaranteed last survivor protection for two lives in one cost-effective policy
  •     Versatility to customize estate planning, wealth transfer or accumulation and income needs and expenses
  •     Tax-deferred growth, strong accumulation potential and convenient access to policy cash value
  •     Provides downside protection with a guaranteed annual interest floor that ensures a positive return — even when the market is down

A Base No-Lapse Guarantee is included with the Survivorship Plus® IUL product. For those in need of guaranteed coverage for longer than 20 years, the Extended No-Lapse Guarantee Rider* is available for an additional cost and is designed to keep the existing death benefit intact until the insured is 121 years old, even if the policy’s net cash value becomes insufficient to cover monthly policy charges.

“Penn Mutual’s Survivorship Plus® IUL product provides permanent protection for two lives in one, cost-effective policy, making it the ideal choice for couples or business partners looking to set up a plan that supports mutual goals,” said Ray Caucci, Vice President, Product Management for The Penn Mutual Life Insurance Company. “By including the Extended No-Lapse Guarantee Rider with the Survivorship Plus® IUL product, a policyholder’s death benefit is guaranteed to remain secure, regardless of the cash value in the policy, as long as the no-lapse guarantee requirements are met. In addition to the valuable death benefit for joint lives, Survivorship Plus® IUL provides the opportunity to build cash value that can be accessed to help supplement retirement income, pay for college or fulfill any of life’s possibilities.”

For more information about Penn Mutual’s Survivorship Plus® Indexed Universal Life (IUL), please visit

  • Available at issue only subject to certain eligibility requirements and restrictions. Policy loans nullify this rider. Other limitations and allocation requirements apply.

All guarantees are based upon the claim-paying ability of the issuer. Policy form number is IALJ-08. (Policy form numbers vary by state.) 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. 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.

Survivorship Plus® IUL is available for sale in all states, including Oregon, however, the contents of this release have not been approved for use in the state of Oregon. Oregon residents may contact a Penn Mutual Financial Professional for information about Survivorship Plus Indexed Universal Life. Oregon Financial Professionals should contact the company directly for additional information.


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

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

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Keith Bratz
Penn Mutual
(215) 956-7907
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Barb Parassio
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