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Choosing the Right Product

While all permanent policies are designed to provide a safety net with death benefit protection while accumulating cash value, there are different types that are suited to meet different needs. Your financial professional can help you determine which type of permanent life insurance can help you build a strong “center” for your financial plan and create a world of possibilities for you and your family.

Your financial professional can also provide details on the risk tolerance and growth potential of the permanent life insurance product that is right for you.

Whole Life Universal Life (UL) Indexed Universal Life Variable Universal Life (VUL)

"Keep it Safe"

Guaranteed death benefit and cash value accumulation

Maximum guarantees and predictable payments

Long-term, low risk tolerance

"Provide Flexibility"

Low cost with flexible payments, yet adjustable

Protection guarantees with cash value linked to company's current interest rate*

Low to medium, risk tolerance

"Add a Boost"

Equal desire for protection and cash value accumulation

Upside potential with cash value linked to market index

Strong downside protection

Medium risk tolerance

"Max My Upside"

Strong desire for cash value accumulation

Upside potential with cash value linked to investment account performance**

Limited downside protection

Higher risk tolerance


Term life insurance can be used as a supplement to permanent life insurance, maximizing protection for a specific period of time.  When thinking about term insurance, consider a policy that allows the options to convert to a permanent policy.  Another way to look at the differences is by your specific needs.   

Feature Comparison of Term and Permanent Life Insurance
Permanent Life
Term Life Whole Life Universal Life Variable
Universal Life
Death Benefits Yes Yes Yes Yes
Flexible Payments No No Yes Yes
Invested in Market No No No Yes
Cash-Value Guaranteed No Yes No No
Tax Advantage Yes Yes Yes Yes
Affordable Temporary Protection Yes No No No

Choosing the right life insurance product depends on your personal needs and budget, the types of features are important to you and your risk tolerance. To help you prepare for a discussion with your Financial Professional, read what you should consider when purchasing life insurance.

Contact a Penn Mutual Adviser who can help you determine your needs and choose the right product for you.  All information will remain strictly confidential.

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