Penn Mutual Life Insurance Reviews

Penn Mutual Life Insurance Reviews
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    Our Penn Mutual Life Insurance reviews will provide you an overview of their company. We’ll cover their financial strength, products, pros, cons, and offer you some recommendations. After this review, you’ll have a good idea if Penn Mutual will be a good fit or another carrier may offer a better deal. One of the key take aways is that Life Insurance Blog is a broker that has access to dozens of the best term, GUL and whole life insurance companies in the marketplace.

    >>More: What is the best life insurance company?

    Penn Mutual Life Insurance

    Available Products
    Financial Strength
    Review Summary

    Penn Mutual Life Insurance Co. is owned by its policyholders instead of shareholders. In other words, the customers who purchase Penn Mutual whole life insurance are able to share in annual dividend payouts when Penn Mutual performs well.

    Very Good!

    Penn Mutual Life Insurance Reviews

    Penn Mutual is an excellent company that is highly rated and has an excellent track record. There is little doubt that the Penn Mutual life insurance company is one of the best carriers in the industry, but they may not be the best fit for your specific situation.

    About Penn Mutual

    Penn Mutual, or the Penn Mutual Life Insurance Co, was founded in 1847. They are one of the oldest mutual life insurance companies in the marketplace. Penn Mutual provides annuity and life insurance products to families, individuals and small businesses, which includes business life insurance.

    Some key points to know about Penn Mutual:

    • Mutual Life Insurance Company
    • Strongest with Whole Life Insurance

    To summarize, a Mutual Company is not committed to its shareholders, but instead is focused on its policyholders. The policyholders receive annual dividends if they are available.

    Penn Mutual Rates

    Unfortunately, Penn Mutual does not provide online rates like many other life insurance companies. You will have to contact a Penn Mutual agent directly to receive their rates.

    >>Tip: Make sure to always compare rates from multiple life insurance companies before you buy. We suggest comparing instant quotes here before getting rates from Penn Mutual. You’ll then be able to make a wiser decision with all of your quotes in front of you.

    life insurance help

    Find out if we can bean Penn Mutual's Price!

    Will Penn Mutual get you the best rate or some other insurer like Transamerica, American National or Costco get you the best deal? If you want to make sure you’re getting the best life insurance policy available, here’s what you need to do…

    Compare Quotes

    Use our online instant calculator to compare rates from dozens of the top companies.

    Total Time Needed: 5 minutes
    Total Cost: 0 USD

    Required Tools:

    - A Computer.
    - Internet Connection.

    Things Needed?

    - A pen
    - A piece of paper

    Steps to get an accurate quote

    Use the calculator on this page or click the link above to visit our instant quotes page.
    Step 2 : Input coverage details
    Fill out the basics about what you’re wanting, how much coverage, for how long, etc. That way we can understand your situation before we can help you. Complete the calculator details as accurately as possible, and be absolutely sure your contact information is correct so we can reach you.
    Step 3 : Get help from a licensed agent
    Once you’ve filled out the calculator, one of our licensed agents will  provide you all your options and plan out who will provide you the best rate based on your specific health and goals. All of the recommendations will be based off of the details you provide. It’s very important that you're honest and answer your agent's questions accurately. 
    Step 4 : Compare realistic rates
    This is where we really begin working to figure out exactly which company will get you the best rate, and how to make it happen. There are literally hundreds of companies and thousands of policy options available. We'll make sure you get the best one based on what you'll qualify for.

    Penn Mutual Life Insurance Products

    Penn Mutual provides shoppers with two types of life insurance: Permanent Life and Term Life. With permanent life insurance you’re looking to get lifetime coverage. Term life provides temporary coverage.

    Term Life Insurance

    With a term life policy you can select a term length of 10, 15 or 20 years. You also have the option to convert some or all of your coverage to a permanent Penn Mutual policy. Your premium will stay the same (level) for the entire term, but will be more expensive if you change to permanent coverage.

    Permanent Life Insurance

    Universal life

    There are several types of universal life insurance policies that are available to you. These include Guaranteed Universal Life, Indexed Universal Life, and Variable Universal Life.

    Guaranteed Universal Life

    With Guaranteed Universal Life, you’re getting the most affordable lifetime coverage. Also known as “Lifetime Term”, it provides the affordability of term but with lifetime protection.

    Whole life

    With whole life insurance, your cash value will grow at a rate that is guaranteed. Remember that Penn Mutual is a mutual life insurance company. You Penn Mutual whole life policy has the ability to gather more cash annually in the years when they pay out their dividends.

    Penn Mutual’s Guaranteed Choice Whole Life provides excellent guarantees for shoppers looking for permanent coverage. These include:

    • 4% Guaranteed Interest (Minimum)
    • Death Benefit that’s guaranteed
    • Cash Value Accumulation guarantees
    • Level Premium that is guaranteed

    >>More: Term vs Whole Life Insurance

    Penn Mutual Financial Strength

    Financial Strength Ratings

    How to choose? When comparing Penn Mutual Ins Company with the competition you’ll want to be careful. When looking to choose from two carriers, one rated A+ and one rated A++, either one is likely to be there when you need it. However, if you’re picking carriers that are rated B+ and A+, financial strength could factor in your buying decision. Try to avoid companies that 1 or more financial agencies rate as potentially vulnerable to bankruptcy.

    Customer Service and Complaints

    Wondering how the Penn Mutual life Insurance Company customer service stacks up against the competition? Well the Better Business Bureau shows several Penn Mutual entries on the BBB website. However it is hard to ascertain if the listings are official or not as none of them are officially authorized. It is good to know that there are only a few complaints from the available entries.

    When comparing Penn Mutual to other life insurance companies of similar size, they had less than the average number of complaints.

    The Penn Mutual Life Insurance Company

    penn mutual life insurance company address
    600 Dresher Road
    Horsham, Pennsylvania 19044

    penn mutual life insurance phone number

    Company Name(s)
    Penn Mutual
    Janney Montgomery Scott
    Hornor, Townsend & Kent, Inc.
    Penn Mutual Asset Management
    Penn Mutual Life Insurance Co

    penn mutual life insurance company

    Penn Mutual Final Thoughts

    Overall, Penn Mutual is a good life insurance company that provides shoppers an acceptable amount of coverage types. Their financial ratings are fair so you should feel good about Penn Mutual’s future. Their customer complaints are few, but the cost of coverage will probably be more expensive compared to the competition.

    Finding the best company and policy depends on many factors and variables. Penn Mutual may be the best company for your neighbor but not for you. Do you want a policy that requires a medical exam or buy from no exam life insurance companies? Your age, health, lifestyle, and many other factors will also determine which company will give you the best deal. 

    If you need any help finding the best policy and company for your unique situation, we’re here to help. Thank you for reading our article, Penn Mutual Life Insurance Reviews. If you’d like to learn more about life insurance and how to save on your policy, be sure to check our articles here.

    Michael Quinn

    Michael Quinn

    Michael is a licensed life insurance agent, expert & owner of Life Insurance Blog. LIB has helped thousands of shoppers understand life insurance and secure affordable coverage.

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