HORSHAM, PA — The Penn Mutual Life Insurance Company, a Fortune 1000 company, has announced its latest addition to its life insurance product lineup: Accumulation Variable Universal Life (VUL). This new offering, issued through Penn Mutual’s wholly owned subsidiary, The Penn Insurance and Annuity Company, comes with a diverse range of accumulation options, including lower-fee investment options managed by Vanguard – one of the nation’s most renowned investment management firms – and indexed fixed accounts tied to the S&P 500® Index.
Accumulation VUL is designed to provide permanent death benefit protection while also offering diversity and flexibility in accumulation options. These options can be tailored to clients’ changing needs and market conditions, thus providing an adaptable solution for customers.
“Choice matters — especially when it comes to accumulation-based life insurance products,” said Jacqueline Fallon, Vice President of Product Management at Penn Mutual. “Adding Accumulation VUL to our life portfolio helps solidify our position as a go-to variable universal life provider.”
Accumulation VUL offers clients two key benefits: unlimited growth potential at a lower cost, and significant growth potential with reliable downside protection. The Vanguard-managed investment options span a range of asset classes and risk tolerances, offering growth potential at lower fees. Meanwhile, the three indexed fixed accounts linked to the S&P 500® Index provide downside protection through guaranteed 0% floors, supporting robust growth potential across various market conditions.
The introduction of Accumulation VUL is especially significant for the insurance industry as it provides a new, flexible option for clients seeking to combine life insurance coverage with investment growth possibilities. As the industry continues to evolve, innovations like Accumulation VUL highlight the ongoing need for adaptable, client-focused products that can meet a wide range of financial needs and goals.
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