Penn Mutual Introduces a High Participation Account Option for Its Accumulation Builder Choice (SM) Indexed Universal Life Product
Horsham, PA (PRWEB) March 05, 2014 -- The Penn Mutual Life Insurance Company, a more than 167-year-old company, is pleased to announce the addition of a new High Participation 1 Year S&P 500® Indexed Account option for its Accumulation Builder Choice (SM) Indexed Universal Life (IUL) product.
This new option is one of four indexed accounts available with Penn Mutual’s Accumulation Builder Choice (SM) IUL product, which offers market-based growth potential without the risk of participating directly in the stock market. The indexed account options credit interest based on the performance of a market index (excluding dividends), up to a competitive cap.
Different from Penn Mutual’s other Indexed Account options, the High Participation 1 Year S&P 500 Indexed Account provides the potential for enhanced interest based on a participation rate higher than 100 percent. As long as S&P 500® growth for the 12-month segment period is less than the account’s current cap, interest credited to the policy may be enhanced by the higher participation rate. For example, if the index account earned 6% for the stated time period, the interest percentage actually credited to a policy with a participation rate in excess of 100% would be higher than 6% (up to the stated cap). A guaranteed floor of 1 percent ensures policyholder accounts are credited with interest in the event of a negative change in the S&P 500® from the segment start date to the segment maturity date.
This account option is ideal for policyholders who:
• Desire growth tied to performance of a well-established Index like the S&P 500®, widely regarded as the best single gauge of the large cap U.S. equities market
• Have concerns about fluctuations in index performance and are interested in lower account volatility
• Seek more upside potential with an interest enhancement
“Penn Mutual’s Accumulation Builder Choice IUL is a permanent life product for clients seeking both protection and cash accumulation potential to help achieve more in life. We offer our policyholders a diverse choice of ways to accumulate cash value to fit a variety of needs and preferences and our High Participation 1 Year S&P 500® Indexed Account is an excellent addition to our lineup,” said Andrew Martin, Assistant Vice President, Product Management, Penn Mutual. “While the High Participation 1 Year S&P 500 Indexed Account does not ensure long-term performance will be higher or lower than other account options, it does offer the possibility for higher interest crediting, up to the cap, in more modest performance years. Used in combination with Accumulation Builder Choice’s other attractive account options, it can help clients have a balanced approach that ensures strong upside potential and peace of mind.”
For more information about Penn Mutual’s Accumulation Builder Choice IUL or the new High Participation 1 Year S&P 500 Indexed Account option, please visit http://www.pennmutual.com.
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/.
All guarantees are based upon the claim-paying ability of the issuer. 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.
Accumulation Builder Choice (SM) Indexed Universal Life is an indexed universal life insurance policy offered by The Penn Mutual Life Insurance Company. Product or features may not be available in all states. Policy form numbers ICC12-IFL, IFL-12. Policy form numbers may vary by state. This material is not intended for distribution in the state of Oregon.
“S&P®”, “Standard & Poor’s®”, “S&P 500®”, “Standard & Poor’s 500™”, “S&P Global BMI™”, “S&P Global Broad Market Index™”, and “Standard & Poor’s Global Market Index™” are trademarks of Standard & Poor’s Financial Services LLC and have been licensed for use by The Penn Insurance and Annuity Company and its affiliates. The product is not sponsored, endorsed, sold or promoted by Standard & Poor’s and Standard & Poor’s makes no representation regarding the advisability of purchasing this product.
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©2014 The Penn Mutual Life Insurance Company, 600 Dresher Road, Horsham, PA 19044
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Joe McIntyre, Karma Agency, +1 (215) 790-7870, [email protected]
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