We are proud of the fact that we have paid dividends to our policyholders during each and every year of our 163-year history, no matter what the economic environment.
Horsham, PA (Vocus) November 23, 2010
The Penn Mutual Life Insurance Company is pleased to announce that its board of trustees has approved a 2011 dividend award that maintains the same dividend scale as its 2010 award. The 2011 award of $29.9 million allows the company to pay competitive and equitable dividends to eligible policyholders, despite the still recovering economy.
“Since our founding in 1847, Penn Mutual’s financial strength has supported our ability to consistently deliver on promises made to our policyholders. And this year is no different. We are proud of the fact that we have paid dividends to our policyholders during each and every year of our 163-year history, no matter what the economic environment,” said Robert E. Chappell, Chairman and Chief Executive Officer of Penn Mutual. “Our product offerings continue to support our clients’ goals throughout their lifetime by providing a strong death benefit with cash accumulation guarantees that allows them to do more in life.”
About Dividends and The Penn Mutual Life Insurance Company
Dividends paid to policyholders at mutual life insurance companies, like Penn Mutual, are refunds of premium based on the actual experience of a block of policies. In contrast, dividends at publicly held insurance companies are paid to shareholders where the amounts of such dividends are based on the company’s overall profitability. It is important to note that the payment and amount of policy dividends is not guaranteed. Penn Mutual’s contract guarantees are based on their claims-paying ability.
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 .
2010 The Penn Mutual Life Insurance Company, 600 Dresher Road, Horsham, PA 19044