Discover What s Possible

Transcription

1 Discover What s Possible Guaranteed Term Guaranteed Term

2 Life is filled with possibilities As your life unfolds, you will have many dreams and goals. Your financial needs will continue to evolve and you will want flexible solutions to meet your changing needs. Whether you are seeking financial security for your family or want to create new opportunities for the future, we believe life insurance is the most protective, responsible and rewarding action a person can take on behalf of the people that matter most to them. Protect what s important

3 Life insurance protects the well-being of your family in the event something unforeseen should happen to you. But beyond safeguarding your family, life insurance also serves as the beginning of a lifelong strategy of financial responsibility. If you are seeking protection for a specific period of time, or need to obtain a higher level of cost effective protection, term life insurance coverage is an affordable solution to meet your short-term protection needs. Protection today, options for tomorrow Guaranteed Term provides you with the immediate protection you need now, and the flexibility to update your coverage over time. Peace of mind guaranteed death benefit ensures that your family is financially protected Affordability reasonable and competitive choices of guaranteed level premiums for 10, 15 or 20 years Flexibility helps fill any gaps in coverage you may have as a result of your evolving life situation Convertibility you can covert part or all of your policy to permanent coverage and benefit from the complete value of life insurance throughout your life Imagine the possibilities All guarantees are based upon the claim-paying ability of the issuer.

4 Unlocking possibilities through conversion Guaranteed Term offers you unique options and flexibility throughout the span of your coverage. As your life needs evolve, you have the opportunity to convert all or a portion of your term coverage to permanent insurance. This ability to convert and upgrade your policy has many advantages: Ability to get quickly started on the right financial path by affordably protecting what s most important to you now and allowing you to upgrade when you can and want Guaranteed Term offers affordable flexibility as your needs change Options to convert all or part of your coverage Access to ANY permanent life insurance product available at the time of conversion Ensures your future insurability if you experience any health related issues during your term coverage, even in the event where you would not have qualified if you were applying for the first time Allows you to continue your underwriting class (if available) regardless of any health or lifestyle changes These unique features and benefits combine to provide a solid foundation and set you on the right path to achieve your dreams. Conversion in increments You can easily convert part of your policy to permanent insurance, while keeping your existing protection intact until the end of the level premium payment period. That way, you can start building permanent coverage while meeting your current protection needs. Credit equal to annual premium of your term base policy to help fund your new permanent policy*

5 The beginning of a lifetime of financial responsibility More choices for permanent coverage Penn Mutual s Guaranteed Term allows you to choose ANY permanent life insurance product that is available at the time of conversion including whole life, universal life, and variable universal life insurance. Fund your first year with last year s premiums When you convert part or all of your policy into permanent life insurance, Penn Mutual will credit the annual premium for the last year of your term base policy to the first year s premiums for the new permanent policy.* Added flexibility Allows you to convert your Guaranteed Term term policy to permanent insurance at ANY point during the entire level period of your term coverage up to age 70 (in NY, later of age 60 and the level period). * Subject to state availability. Conversion credit is not available for NJ residents and in NY the credit is reduced. The credit does not include any policy fees, premium for a substandard rate class, or premium for optional benefits. Discover the possibilities

6 Maximize your protection Guaranteed Term provides you with optional benefits to enhance your coverage options. Disability Waiver of Premium Rider preserves your coverage should you become disabled Option A If the disability lasts at least four months, premiums under the term policy are waived. If the disability occurred before age 60 and continues for three policy anniversaries, the term policy automatically converts to a Penn Mutual whole life policy. Premiums on the new policy will continue to be waived for the duration of the disability. Option B If the disability lasts at least six months, premiums under the term policy are waived. If the disability occurred before age 60, premiums will be waived for the duration of the disability or until the policy expires. It will not convert to a permanent policy. For disabilities beginning after age 60, premiums are waived for two years or until the policy anniversary nearest age 65, if later. Available at issue between the ages * Waiver begins after a waiting period. Condition must meet the disability definition in the insurance contract. Accidental Death Benefit provides additional protection if you die as the result of an accident Up to the lesser of $50,000, or twice the face amount of the base policy if issued between the ages of Up to the lesser of $250,000, or twice the face amount of the base policy if issued between the ages of 26 and 60. Rider will terminate at age 70. Children s Term Insurance Agreement provides insurance protection for your children Available in $5,000 increments up to a maximum of $25,000. Each child in your immediate family is eligible for this coverage, with only one charge. Each covered child may convert the protection to a permanent policy prior to age 23 without medical underwriting, up to five times the coverage amount under the rider. Coverage terminates on each child when he or she reaches age 23. Available at issue ages 15 days 17 years. Supplemental riders and benefits have additional costs, may not be available in all states and may be subject to certain limitations. See your financial professional for details.

7 Why Penn Mutual? At Penn Mutual, we are singularly committed to helping families unlock the possibilities of life through our life insurance and annuity solutions. Unlock the possibilities We have never failed to meet an obligation to a policyholder. With our financial strength and stability standing behind our guarantees, we are committed to the brighter futures and best interests of all of our policyholders.

8 Our Noble Purpose Since 1847, Penn Mutual has been driven by our noble purpose to create a world of possibilities, one individual, one family and one small business at a time. As an original pioneer of mutual life insurance in America, we believe that life insurance is the most protective, responsible and rewarding action a person can take to build a solid foundation today and create a brighter future for generations to come. Product and features may not be available in all states. Guaranteed Term policy form numbers are LT-99(S) or LT-99(U). (Policy form numbers may vary by state.) For more information on coverage, please write or call your financial professional The Penn Mutual Life Insurance Company, Philadelphia, PA PM /12 A1JC