Learn the benefits that
a gift of permanent life insurance can offer.
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If you are considering a gift for a family member, why not consider one that that can have a significant impact on the recipient’s life 10, 20, 40 years down the road? A gift of permanent life insurance can make a difference throughout a person’s life.
Purchasing permanent life insurance for your child or grandchild can provide them with more than death benefits that are guaranteed for life as long as required premiums are paid. A permanent life insurance policy can build significant policy cash value over your child or grandchild’s lifetime. That cash value grows on a tax-deferred basis and can be accessed, income-tax-free in most cases, at any time during the insured person’s lifetime—for any reason.*
The cash value from a permanent life policy can put your child or grandchild on a sound financial path and help them achieve dreams throughout life, such as:
Getting them started with a policy early, while they are young and healthy, helps ensure they will have affordable coverage for the future—when their responsibilities and protection needs grow. Starting early also helps maximize the policy’s potential cash value buildup—increasing your child or grandchild’s ability to unlock more of life’s possibilities.
*All guarantees are based on the claims paying ability of the issuer. Accessing cash values may result in surrender fees and charges and may require additional premium payments to maintain coverage and will reduce the death benefit and policy values. Any reference to the taxation of life insurance products in this material is based on Penn Mutual’s understanding of current tax laws. You should consult a qualified tax advisor regarding your personal situation. Withdrawals are income tax free as long as Policy is not a “modified endowment contract” (MEC) and policy must not be surrendered, lapsed, or otherwise terminated during the lifetime of the insured.
A Penn Mutual financial advisor can show you how a gift of permanent life insurance can help your children or grandchildren achieve their dreams and open up a world of possibilities.