Penn Mutual Life Insurance Reviews

Penn Mutual Life Insurance Reviews

The following Penn Mutual Life Insurance reviews, will provide you an overview of their company, financial strength, products, pros, cons, an offer some recommendations. One of the key take aways is that Life Insurance Blog is a broker that has access to dozens of the best life insurance companies in the marketplace – this includes no exam life insurance companies

Penn Mutual Life Insurance

Cost
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.

76.33
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.

Penn Mutual Overview

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 there rates. A complete list of their offices can be found here.

>>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.

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

  • AM Best: A+
  • Moody's: Aa3
  • Standard & Poor's: A+
  • BBB: A+

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.

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
215-956-8000

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. Your age, health, lifestyle, and many other factors will determine which company will give you the best deal.

Call us at 888-411-1329 if you need any help finding the best policy and company for your unique situation. 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.

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Michael Quinn

Michael Quinn

Michael Quinn is the owner of Life Insurance Blog. Please email or call us at 888-411-1329. We're here to answer your questions & help you get the best policy available.