Disclaimer: Actual results will vary depending on your particular age, occupation, hobbies, and health situation. We are NOT one-trick-ponies. One of our main value propositions is to perform extensive and anonymous shopping amongst multiple insurance companies to find our clients the best fit. Our other commitment to you is to always lead with the most efficient policy design possible, rather than play games to increase agent commissions. All that said…
In the vast majority of situations we have been finding that Penn Mutual’s Guaranteed Choice® Whole Life Insurance product has been greatly outperforming every other mutual company’s Whole Life product.
- Penn’s guaranteed values often outperform its peers. This demonstrates an underlying efficiency of the policy chassis.
- Penn’s policy Illustrations using the current dividend scale not only beats, but usually crushes the competition in apples-to-apples comparisons using the same inflows and outflows.
- Penn’s Guaranteed Choice® Whole Life product allows you to blend in a heavier amount of a term rider than many carriers do. This allows for lower agent commissions as well as maximum early over-funding potential.
- Penn allows for flexible PUA funding, meaning you can skip multiple years of over-fundung, yet still maintain your right to do so in the future.
- Penn has a unique “Overloan Protection Rider,” that keeps your policy from imploding during retirement if you have taken too many tax-exempt policy loans that you have no intention of repaying. The rider locks in a minimal amount of cash value to support the death benefit for heirs, which preserves the tax-exempt status of lifetime distributions.
- Penn’s chronic-illness rider can be added to the policy for no additional charge. It allows for a tax-free advance of a large portion of your death benefit if you are deemed to have a chronic illness and need Long Term Care.
About Penn Mutual:
- Established in 1847, Penn Mutual is the second oldest American “true” mutual life insurance company behind New York Life.
- Penn Mutual maintains the biggest percentage of surplus assets on their balance sheet compared to other mutuals and mutual holding companies (Surplus was 17% of General Account Assets as of January 2017).
- Compared to the other mutual companies and mutual holding companies, Penn Mutual has the highest 5-year average yield on their investment portfolio as well as the highest yield in 2015 (As of January 2017 results for 2016 were not reported).
- Penn Mutual has maintained its dividend scale since 2008. All other carriers have lowered theirs, often significantly. (see graphic below)
This graphic shows the how 8 different companies that sell Whole Life insurance have either raised, lowered, or maintained their dividend interest rate (DIR) each year from 1997-2017. Penn has maintained their dividend since 2008 because of their steady and superior portfolio yield and strong surplus.
If you haven’t looked at a policy illustration from Penn Mutual yet, simply send us over a competitor’s illustration. We will take the exact same numbers and run them through Penn’s illustration system. We don’t play games by trying to build in extra commission. We will show you a policy with maximum efficiency, so you can see for yourself how juicy a Whole Life Insurance policy can be when building your own bank.
Email firstname.lastname@example.org with the competitor’s illustration attached.
If you would like to discuss further and build something together from scratch, simply click here to schedule a no-obligation custom consultation with the Banking Truths Team. We will share our screen with you, create a custom policy for you in real time, and answer any questions you may have.
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