Last updated June 15, 2009
First organized in 1847, Penn Mutual is the nation’s second oldest mutual life insurance company. Within the past 160 years, the company’s commitment has been to help their clients achieve a lifetime of financial security.
The Penn Mutual Life Insurance Company, also commonly referred to as Penn Mutual, was founded in Philadelphia, Pennsylvania in 1847. It was the seventh mutual life insurance company chartered in the United States. It is headquartered in Horsham, Pennsylvania just outside of Philadelphia.
Penn Mutual advertises family protection, business planning, supplemental income and estate planning with their life insurance policies. The two main types of life insurance the company offers are term life and permanent life. Term life is designed to provide cheap temporary protection, usually a contracted number of years or to a set age.
Permanent life insurance provides coverage for the policyholder’s lifetime. As long as the premiums are paid, the coverage remains in force until the policy matures. Types of permanent life Penn Mutual offers are whole life, universal life, variable universal life and joint or survivor life. Whole life polices pay death benefits at the time the policy is purchased and the premium amount is set. Universal life offers payment flexibility. This same payment flexibility is also offered in variable life, with an additional offer of investment flexibility as well. survivorship life insurance policies are designed to cover two lives, instead of a single policyholder. Here, the death benefits are paid after the death of the last insured dies.
Contact Penn Mutual Life Insurance Company at:
The Penn Mutual Life Insurance Company
600 Dresher Road
Horsham, PA 19044
Telephone: (800) 523-0650
Sources: “Penn Mutual Life Insurance Company” Wikipedia, December 2008; “Life Insurance ,” Pen Mutual Life web site, 2009, “Who We Are,” Penn Mutual Life web site 2009,“Penn Mutual Life Insurance Company