Guide to Reading the Guaranteed Choice Whole Life Annual Statement

Guide to Reading the

Guaranteed Choice Whole Life

Annual Statement

Guaranteed Choice Whole Life combines the valuable guarantees of whole life insurance with

the flexibility to meet your evolving needs and help ensure a lifetime of possibilities. It offers

guaranteed death benefit protection, guaranteed steady cash accumulation and guaranteed level

premiums. It also provides dividends, which are not guaranteed, but add to the policy’s cash values.

Your Guaranteed Choice Whole Life Annual Statement provides policy values as of the policy

anniversary date, as well as a history of the activity on your whole life policy over the last policy year.

We have created this guide to help you understand your annual statement and the key terms used

to describe your policy.

Table of Contents

■

Sample Annual Statement . . . 2

■

Key Terminology . . . 6

■

Optional Benefits and Riders . . . .7

This section of the guide walks through a sample Flexible Choice Whole Life Annual Statement to show you the

layout and the information presented.

The first page includes a summary of key policy Information, while the second page gets into more transaction detail.

In some cases your Annual Statement may be three pages in length.

Guaranteed Choice Whole Life

Annual Statement for Policy #8000000

For Policy Period 01/14/2014 through 01/14/2015

Policy Start Date: 01/14/2014| Policy Maturity Date: 01/14/2098 WILLIAM PENN

789 SPRUCE ST SPRINGFIELD PA 19038

For additional information or questions, contact:

BENJAMIN FRANKLIN, CLU, ChFC, AEP FRANKLIN-RICHARDS AGENCY SUITE 1776 123 MAIN STREET PHILADELPHIA PA 19172

or contact Penn Mutual Client Services 1-800-523-0650 | ww.pennmutual.com

This is your first annual statement for Guaranteed Choice Whole Life. The statement provides a snapshot of the previous policy year. It includes a concise summary of key information on the front page, with more detailed transaction activity thereafter.

For additional details, visit www.pennmutual.com/cs/gcwl.

Policy Number: 8000000 | WILLIAM PENN Page 1 of 3

Insured: WILLIAM PENN Primary Beneficiary: SALLY PENN

You have Penn Mutual's Guaranteed Choice Whole Life, which is a Whole Life policy. Your policy payment period is 50 years (01/14/2064).

Policy Summary

Total Face Amount $3,946,998.00

Total Net Death Benefit * $3,889,360.88

Total Net Cash Value * $91,940.88

Loan Balance $57,637.12

* The outstanding loan balance has been subtracted from these values.

As of this statement date, your policy has the following additional benefits:

●_{Overloan Protection Benefit} ●_{Flexible Protection ($2,631,332)} ●_{Accelerated Permanent Paid Up Additions (ends}

01/14/2024)

●_{Accelerated Death Benefit}

Upcoming Scheduled Payments Scheduled Payments (paid Annual) Policy Premium $26,865.90 Total Annual Payment $26,865.90

Your policy is scheduled to begin the automated premium offset program in 11 years(01/14/2024).

You have paid $73,134.10 towards your Paid-Up Additions Rider Payment Requirement of $36,567.05. To keep your rider active you must pay $36,567.05 by 12/14/2018. Payment of this balance will, at a minimum, keep your rider active until 12/14/2019. You can pay up to $0.00 into your PUA Rider during the next statement period.

Activity Summary for Period

Total Premium Payments Made $26,865.90 Paid-Up Addition Rider Payments Made $73,134.10 Total Dividends Earned $2,081.31 Dividend & Paid-Up Additions

Surrenders $0.00 New Loans & Interest $78,402.86 Loan Repayments Applied in Period $20,382.87

Guaranteed Choice Whole Life

For Policy Period 01/14/2014 through 01/14/2015

Questions? Contact BENJAMIN FRANKLIN, CLU, ChFC, AEP, 555-555-5555

or Penn Mutual 1-800-523-0650 (M-F 8:30 a.m. to 6:00 p.m. Eastern) | www.pennmutual.com/customerservice

Policy Number: 8000000 | WILLIAM PENN Page 2 of 3

Benefits and Values

Death Benefit Cash Value Base Policy $1,315,666.00 $0.00 Paid-Up Additions from Paid-Up Additions Rider $682,984.05 $137,646.00 Paid-Up Additions from Dividends $10,327.21 $2,081.00 Flexible Protection - Paid-Up Additions $100,193.22 $9,851.00 Flexible Protection - Term $1,837,827.52 N/A Total $3,946,998.00 $149,578.00

LESS Outstanding Loans – $57,637.12 – $57,637.12 Net Total $3,889,360.88 $91,940.88

Dividends

Dividend of $2,081.31 awarded on 01/14/2015. Your dividend was used as follows: $2,081.31 to purchase $10,327.20 of Paid-Up Additions. Your future dividend awards will purchase Paid-Up Additions. If you wish to change this option, please contact Penn Mutual.

The payment and amount of dividends are not guaranteed.

Loans

Beginning Loan Balance $382.87

New Loans + $77,637.12 Loan Interest + $765.74 Repayments - $20,382.87 Ending Loan Balance $57,637.12

2015 Loan Interest Rate 5.00% 2014 Loan Interest Rate 5.00%

Notice from the State Insurance Department of Pennsylvania

IMPORTANT POLICY OWNER NOTICE: You should consider requesting more detailed information about your policy to understand how it may perform in the future. You should not consider replacement of your policy or make changes in your coverage without requesting a current illustration. You may annually request, without charge, such an illustration by calling 1-800-523-0650, writing to Penn Mutual, PO Box 178, Philadelphia, PA 19105, or by calling your agent. If you do not receive a current illustration of your policy within 30 days from your request, you should contact your state insurance department.

Guaranteed Choice Whole Life

For Policy Period 01/14/2014 through 01/14/2015

About this Statement

Your statement provides a history of the activity on your policy for the policy year ending on 01/14/2015. Please review this statement and contact Penn Mutual if you have any questions. You should retain this statement for your personal records, but note that this statement should not be used for tax-filing purposes.

For more information . . .

on how to read this statement and an explanation of terms and benefits, visit

Sample Guaranteed Choice Whole Life Annual Statement – Page 1

Guaranteed Choice Whole Life

Annual Statement for Policy #8000000

For Policy Period 01/14/2014 through 01/14/2015 Policy Start Date: 01/14/2014| Policy Maturity Date: 01/14/2098

WILLIAM PENN 789 SPRUCE ST SPRINGFIELD PA 19038

For additional information or questions, contact:

BENJAMIN FRANKLIN, CLU, ChFC, AEP FRANKLIN-RICHARDS AGENCY SUITE 1776

123 MAIN STREET PHILADELPHIA PA 19172

or contact Penn Mutual Client Services 1-800-523-0650 | ww.pennmutual.com

This is your first annual statement for Guaranteed Choice Whole Life. The statement provides a snapshot of the previous policy year. It includes a concise summary of key information on the front page, with more detailed transaction activity thereafter.

For additional details, visit www.pennmutual.com/cs/gcwl.

Policy Number: 8000000 | WILLIAM PENN Page 1 of 3

Insured: WILLIAM PENN Primary Beneficiary: SALLY PENN

You have Penn Mutual's Guaranteed Choice Whole Life, which is a Whole Life policy. Your policy payment period is 50 years (01/14/2064).

Policy Summary

Total Face Amount $3,946,998.00

Total Net Death Benefit * $3,889,360.88

Total Net Cash Value * $91,940.88

Loan Balance $57,637.12 * The outstanding loan balance has been subtracted from these values.

As of this statement date, your policy has the following additional benefits:

●_{Overloan Protection Benefit} ●_{Flexible Protection ($2,631,332)}

●_{Accelerated Permanent Paid Up Additions (ends}

01/14/2024)

●_{Accelerated Death Benefit}

Upcoming Scheduled Payments

Scheduled Payments (paid Annual)

Policy Premium $26,865.90 Total Annual Payment $26,865.90 Your policy is scheduled to begin the automated premium offset program in 11 years(01/14/2024).

You have paid $73,134.10 towards your Paid-Up Additions Rider Payment Requirement of $36,567.05. To keep your rider active you must pay $36,567.05 by 12/14/2018. Payment of this balance will, at a minimum, keep your rider active until 12/14/2019. You can pay up to $0.00 into your PUA Rider during the next statement period.

Activity Summary for Period

Total Premium Payments Made $26,865.90 Paid-Up Addition Rider Payments Made $73,134.10 Total Dividends Earned $2,081.31 Dividend & Paid-Up Additions

Surrenders $0.00

New Loans & Interest $78,402.86 Loan Repayments Applied in Period $20,382.87

Guaranteed Choice Whole Life

Annual Statement for Policy #8000000

For Policy Period 01/14/2014 through 01/14/2015 Policy Start Date: 01/14/2014| Policy Maturity Date: 01/14/2098

WILLIAM PENN 789 SPRUCE ST SPRINGFIELD PA 19038

For additional information or questions, contact:

BENJAMIN FRANKLIN, CLU, ChFC, AEP FRANKLIN-RICHARDS AGENCY SUITE 1776

123 MAIN STREET PHILADELPHIA PA 19172

or contact Penn Mutual Client Services 1-800-523-0650 | ww.pennmutual.com

This is your first annual statement for Guaranteed Choice Whole Life. The statement provides a snapshot of the previous policy year. It includes a concise summary of key information on the front page, with more detailed transaction activity thereafter.

For additional details, visit www.pennmutual.com/cs/gcwl.

Policy Number: 8000000 | WILLIAM PENN Page 1 of 3

Insured: WILLIAM PENN Primary Beneficiary: SALLY PENN

You have Penn Mutual's Guaranteed Choice Whole Life, which is a Whole Life policy. Your policy payment period is 50 years (01/14/2064).

Policy Summary

Total Face Amount $3,946,998.00

Total Net Death Benefit * $3,889,360.88

Total Net Cash Value * $91,940.88

Loan Balance $57,637.12 * The outstanding loan balance has been subtracted from these values.

As of this statement date, your policy has the following additional benefits:

●_{Overloan Protection Benefit} ●_{Flexible Protection ($2,631,332)}

●_{Accelerated Permanent Paid Up Additions (ends}

01/14/2024)

●_{Accelerated Death Benefit}

Upcoming Scheduled Payments

Scheduled Payments (paid Annual)

Policy Premium $26,865.90 Total Annual Payment $26,865.90 Your policy is scheduled to begin the automated premium offset program in 11 years(01/14/2024).

You have paid $73,134.10 towards your Paid-Up Additions Rider Payment Requirement of $36,567.05. To keep your rider active you must pay $36,567.05 by 12/14/2018. Payment of this balance will, at a minimum, keep your rider active until 12/14/2019. You can pay up to $0.00 into your PUA Rider during the next statement period.

Activity Summary for Period

Total Premium Payments Made $26,865.90 Paid-Up Addition Rider Payments Made $73,134.10 Total Dividends Earned $2,081.31 Dividend & Paid-Up Additions

Surrenders $0.00

New Loans & Interest $78,402.86 Loan Repayments Applied in Period $20,382.87

Guaranteed Choice Whole Life

Annual Statement for Policy #8000000

For Policy Period 01/14/2014 through 01/14/2015 Policy Start Date: 01/14/2014| Policy Maturity Date: 01/14/2098

WILLIAM PENN 789 SPRUCE ST SPRINGFIELD PA 19038

For additional information or questions, contact:

BENJAMIN FRANKLIN, CLU, ChFC, AEP FRANKLIN-RICHARDS AGENCY SUITE 1776

123 MAIN STREET PHILADELPHIA PA 19172

or contact Penn Mutual Client Services 1-800-523-0650 | ww.pennmutual.com

This is your first annual statement for Guaranteed Choice Whole Life. The statement provides a snapshot of the previous policy year. It includes a concise summary of key information on the front page, with more detailed transaction activity thereafter.

For additional details, visit www.pennmutual.com/cs/gcwl.

Policy Number: 8000000 | WILLIAM PENN Page 1 of 3

Insured: WILLIAM PENN Primary Beneficiary: SALLY PENN

You have Penn Mutual's Guaranteed Choice Whole Life, which is a Whole Life policy. Your policy payment period is 50 years (01/14/2064).

Policy Summary

Total Face Amount $3,946,998.00

Total Net Death Benefit * $3,889,360.88

Total Net Cash Value * $91,940.88

Loan Balance $57,637.12 * The outstanding loan balance has been subtracted from these values.

As of this statement date, your policy has the following additional benefits:

●_{Overloan Protection Benefit} ●_{Flexible Protection ($2,631,332)}

●_{Accelerated Permanent Paid Up Additions (ends}

01/14/2024)

●_{Accelerated Death Benefit}

Upcoming Scheduled Payments

Scheduled Payments (paid Annual)

Policy Premium $26,865.90 Total Annual Payment $26,865.90 Your policy is scheduled to begin the automated premium offset program in 11 years(01/14/2024).

You have paid $73,134.10 towards your Paid-Up Additions Rider Payment Requirement of $36,567.05. To keep your rider active you must pay $36,567.05 by 12/14/2018. Payment of this balance will, at a minimum, keep your rider active until 12/14/2019. You can pay up to $0.00 into your PUA Rider during the next statement period.

Activity Summary for Period

Total Premium Payments Made $26,865.90 Paid-Up Addition Rider Payments Made $73,134.10 Total Dividends Earned $2,081.31 Dividend & Paid-Up Additions

Surrenders $0.00

New Loans & Interest $78,402.86 Loan Repayments Applied in Period $20,382.87

Guaranteed Choice Whole Life

Annual Statement for Policy #8000000

For Policy Period 01/14/2014 through 01/14/2015 Policy Start Date: 01/14/2014| Policy Maturity Date: 01/14/2098

WILLIAM PENN 789 SPRUCE ST SPRINGFIELD PA 19038

For additional information or questions, contact:

BENJAMIN FRANKLIN, CLU, ChFC, AEP FRANKLIN-RICHARDS AGENCY SUITE 1776

123 MAIN STREET PHILADELPHIA PA 19172

or contact Penn Mutual Client Services 1-800-523-0650 | ww.pennmutual.com

This is your first annual statement for Guaranteed Choice Whole Life. The statement provides a snapshot of the previous policy year. It includes a concise summary of key information on the front page, with more detailed transaction activity thereafter.

For additional details, visit www.pennmutual.com/cs/gcwl.

Policy Number: 8000000 | WILLIAM PENN Page 1 of 3

Insured: WILLIAM PENN Primary Beneficiary: SALLY PENN

You have Penn Mutual's Guaranteed Choice Whole Life, which is a Whole Life policy. Your policy payment period is 50 years (01/14/2064).

Policy Summary

Total Face Amount $3,946,998.00

Total Net Death Benefit * $3,889,360.88

Total Net Cash Value * $91,940.88

Loan Balance $57,637.12 * The outstanding loan balance has been subtracted from these values.

As of this statement date, your policy has the following additional benefits:

●_{Overloan Protection Benefit} ●_{Flexible Protection ($2,631,332)}

●_{Accelerated Permanent Paid Up Additions (ends}

01/14/2024)

●_{Accelerated Death Benefit}

Upcoming Scheduled Payments

Scheduled Payments (paid Annual)

Policy Premium $26,865.90 Total Annual Payment $26,865.90 Your policy is scheduled to begin the automated premium offset program in 11 years(01/14/2024).

You have paid $73,134.10 towards your Paid-Up Additions Rider Payment Requirement of $36,567.05. To keep your rider active you must pay $36,567.05 by 12/14/2018. Payment of this balance will, at a minimum, keep your rider active until 12/14/2019. You can pay up to $0.00 into your PUA Rider during the next statement period.

Activity Summary for Period

Total Premium Payments Made $26,865.90 Paid-Up Addition Rider Payments Made $73,134.10 Total Dividends Earned $2,081.31 Dividend & Paid-Up Additions

Surrenders $0.00

New Loans & Interest $78,402.86 Loan Repayments Applied in Period $20,382.87

Includes informational

messaging particular to

your policy

Details:

∆

Upcoming scheduled

payments

∆

Activities made during the

statement period

∆

The amount you have paid

and maximum amount you

can pay into the Accelerated

Permanent Paid-Up Additions

or Enhanced Permanent

Paid-Up Additions Rider if elected

Lists your policy:

∆

Type

∆

Included benefits and riders

∆

Face Amount

∆

Death Benefit

∆

Cash Value

∆

Outstanding loans balance

if applicable.

Includes your:

∆

Financial Professional’s

contact information

∆

Policy start and maturity

dates

∆

Insured and primary

Guaranteed Choice Whole Life

For Policy Period 01/14/2014 through 01/14/2015

Questions? Contact BENJAMIN FRANKLIN, CLU, ChFC, AEP, 555-555-5555

or Penn Mutual 1-800-523-0650 (M-F 8:30 a.m. to 6:00 p.m. Eastern) | www.pennmutual.com/customerservice

Policy Number: 8000000 | WILLIAM PENN Page 2 of 3

Benefits and Values

Death Benefit Cash Value

Base Policy $1,315,666.00 $0.00

Paid-Up Additions from Paid-Up Additions Rider $682,984.05 $137,646.00

Paid-Up Additions from Dividends $10,327.21 $2,081.00

Flexible Protection - Paid-Up Additions $100,193.22 $9,851.00

Flexible Protection - Term $1,837,827.52 N/A

Total $3,946,998.00 $149,578.00

LESS Outstanding Loans – $57,637.12 – $57,637.12

Net Total $3,889,360.88 $91,940.88

Dividends

Dividend of $2,081.31 awarded on 01/14/2015. Your dividend was used as follows: $2,081.31 to purchase $10,327.20 of Paid-Up Additions. Your future dividend awards will purchase Paid-Up Additions. If you wish to change this option, please contact Penn Mutual.

The payment and amount of dividends are not guaranteed.

Loans

Beginning Loan Balance $382.87

New Loans + $77,637.12

Loan Interest + $765.74

Repayments - $20,382.87

Ending Loan Balance $57,637.12

2015 Loan Interest Rate 5.00%

2014 Loan Interest Rate 5.00%

Notice from the State Insurance Department of Pennsylvania

IMPORTANT POLICY OWNER NOTICE: You should consider requesting more detailed information about your policy to understand how it may perform in the future. You should not consider replacement of your policy or make changes in your coverage without requesting a current illustration. You may annually request, without charge, such an illustration by calling 1-800-523-0650, writing to Penn Mutual, PO Box 178, Philadelphia, PA 19105, or by calling your agent. If you do not receive a current illustration of your policy within 30 days from your request, you should contact your state insurance department.

Guaranteed Choice Whole Life

For Policy Period 01/14/2014 through 01/14/2015

Questions? Contact BENJAMIN FRANKLIN, CLU, ChFC, AEP, 555-555-5555

or Penn Mutual 1-800-523-0650 (M-F 8:30 a.m. to 6:00 p.m. Eastern) | www.pennmutual.com/customerservice

Policy Number: 8000000 | WILLIAM PENN Page 2 of 3

Benefits and Values

Death Benefit Cash Value

Base Policy $1,315,666.00 $0.00

Paid-Up Additions from Paid-Up Additions Rider $682,984.05 $137,646.00

Paid-Up Additions from Dividends $10,327.21 $2,081.00

Flexible Protection - Paid-Up Additions $100,193.22 $9,851.00

Flexible Protection - Term $1,837,827.52 N/A

Total $3,946,998.00 $149,578.00

LESS Outstanding Loans – $57,637.12 – $57,637.12

Net Total $3,889,360.88 $91,940.88

Dividends

Dividend of $2,081.31 awarded on 01/14/2015. Your dividend was used as follows: $2,081.31 to purchase $10,327.20 of Paid-Up Additions. Your future dividend awards will purchase Paid-Up Additions. If you wish to change this option, please contact Penn Mutual.

The payment and amount of dividends are not guaranteed.

Loans

Beginning Loan Balance $382.87

New Loans + $77,637.12

Loan Interest + $765.74

Repayments - $20,382.87

Ending Loan Balance $57,637.12

2015 Loan Interest Rate 5.00%

2014 Loan Interest Rate 5.00%

Notice from the State Insurance Department of Pennsylvania

IMPORTANT POLICY OWNER NOTICE: You should consider requesting more detailed information about your policy to understand how it may perform in the future. You should not consider replacement of your policy or make changes in your coverage without requesting a current illustration. You may annually request, without charge, such an illustration by calling 1-800-523-0650, writing to Penn Mutual, PO Box 178, Philadelphia, PA 19105, or by calling your agent. If you do not receive a current illustration of your policy within 30 days from your request, you should contact your state insurance department.

Details the current:

∆

Death benefit

∆

Base policy Cash Value

∆

Paid-up additions from riders *

∆

Paid-up additions from

dividends*†

∆

Dividend awarded to your

policy (and your dividend

election) †

∆

Loan interest rate and details

of your loan activity.

* If elected

† See your policy contract for

information about dividend options.

Sample Guaranteed Choice Whole Life Annual Statement – Page 3

Guaranteed Choice Whole Life

For Policy Period 01/14/2014 through 01/14/2015

Questions? Contact BENJAMIN FRANKLIN, CLU, ChFC, AEP, 555-555-5555

or Penn Mutual 1-800-523-0650 (M-F 8:30 a.m. to 6:00 p.m. Eastern) | www.pennmutual.com/customerservice

Policy Number: 8000000 | WILLIAM PENN Page 3 of 3

About this Statement

Your statement provides a history of the activity on your policy for the policy year ending on 01/14/2015. Please review this statement and contact Penn Mutual if you have any questions. You should retain this statement for your personal records, but note that this statement should not be used for tax-filing purposes.

For more information . . .

on how to read this statement and an explanation of terms and benefits, visit www.pennmutual.com/cs/gcwl, scan the image to the right, or contact Penn Mutual.

The following are some of the key terms referenced in your Annual Statement. For a more detailed description of

terms, please review your Guaranteed Choice Whole Life policy.

Additional Scheduled Paid-Up Addition Deposit

Additional premiums to be paid to the Accelerated Permanent Paid-Up Additions or Enhanced Permanent Paid-Up

Additions Riders,

if elected.

Cash Value

The sum of the cash value for the base policy, Paid-Up Additions, and dividend accumulations. A detailed breakout

is shown on page 2 of your annual statement.

Death Benefit

The sum of death benefits of the base policy, Flexible Protection Rider, Paid-Up Additions, and dividend

accumulations. A detailed breakout is shown on page 2 of your annual statement.

Dividend

The sum returned to a policy owner by an insurance company under a participating policy. Generally, dividends

are declared and paid annually, but are not guaranteed.

The amount can vary each year based on a number of factors, including the investment, mortality and administrative

cost experienced by the company on this block of whole life business.  Once paid, dividends can accumulate interest,

reduce premiums you are required to pay, purchase additional paid-up insurance that increases guaranteed values, etc.

See your Guaranteed Choice Whole Life policy for more information about the dividend options available to you.

Face Amount

The amount of death benefit specified in your base policy and Flexible Protection Agreement, excluding any

additional death benefit from dividends, paid-up additions, or other riders.

Loan

Money borrowed against the cash value of the policy. A loan can be taken from the cash value at any time, subject

to the maximum loan value in the contract. Loans are not required to be repaid while the policy is active unless the

total of accumulated loans exceeds the maximum loan value. Loans will be reflected in the available net cash value

and the net death benefit. If loans are outstanding at the insured’s death they will reduce the cash value or death

benefit.

Your statement shows the interest rate charged on loans take from your policy. Loan charge rates can change and are

declared each year by the company based on Moody’s Corporate Bond Average Yield.

Policy Premium

Optional Benefits and Riders

You may have elected one or more of the following benefits and riders on your policy. Provided below is a brief

description of these riders. For additional information, please review your Flexible Choice Whole Life contract.

Accelerated Death Benefit allows access to a portion of the death benefit if the insured is diagnosed with a

terminal illness.

Accidental Death Benefit provides an additional death benefit if the insured dies as the result of an accident.

Children’s Term Insurance Agreement can be purchased to cover all of your children, and each covered child is

guaranteed the opportunity to convert their child coverage to a permanent policy when they reach age 23.

Chronic Illness Accelerated Benefit* allows access to a portion of the death benefit if the insured is certified as

chronically ill.

Disability Waiver of Premium Rider preserves coverage if the insured cannot work in their occupation for two years,

or in any occupation after two years.

Enhanced Disability Waiver of Premium Rider keeps the policy in force for six years if the insured cannot work in

their occupation—longer if they can’t work at all.

Flexible Protection Agreement blends term insurance with your base face amount of coverage, thereby lowering

required premiums and guaranteed values.

Guaranteed Purchase Option allows you to increase your coverage at certain “option dates” without having to submit

medical evidence of insurability.

Overloan Protection Rider can keep your coverage intact despite outstanding loans.

Accelerated Permanent Paid-Up Additions Rider periodically pays extra premiums to help you replace your term

insurance faster.

Enhanced Permanent Paid-Up Additions Rider lets you increase your death benefit and build cash value more

rapidly by purchasing additional paid-up whole life insurance.

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,