Discover
What’s
Possible
Guaranteed Term 10–15–20
Guar
ante
ed T
erm 10
-15
Protect what’s
important
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.
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 10–15–20
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
convert part or all of your
policy to permanent coverage
and benefit from the complete
value of life insurance
throughout your life
All guarantees are based upon the
claim-paying ability of the issuer.
Unlocking possibilities
through conversion
Guaranteed Term 10–15–20
offers affordable flexibility
as your needs change
✓
Options to convert all or
part of your coverage
✓
A choice of several Penn
Mutual permanent life insurance products
✓
Credit equal to annualpremium of your term base policy to help fund your new permanent policy*
Guaranteed Term 10–15–20 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
∆ Ensures your future insurability if you experience any health related issues
during your term coverage, even in the event you would not have qualified if you were applying for the first time
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.
Discover
the possibilities
More choices for permanent coverage
Penn Mutual’s Guaranteed Term 10–15–20 allows you to choose from several Penn Mutual permanent life insurance products that can provide permanent death benefit protection and cash value accumulation that can help you achieve your financial goals.
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 10–15–20 term policy to permanent insurance at ANY point during the entire level period of your term coverage up to age 70.
* Subject to state availability. In NY the amount of the conversion credit is reduced. The credit does not include any policy fees, premium for a substandard rate class, or premium for optional benefits.
The beginning
of a lifetime
of financial
responsibility
Guaranteed Term 10–15–20 offers you the opportunity to enhance your coverage by adding optional riders.*
Disability Waiver of Premium Rider can help preserve your coverage if you become
disabled. There are two options available.
Disability Waiver of Premium with Automatic Conversion Rider
∆ 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.
Disability Waiver of Premium Rider
∆ 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 both rider options, for disabilities beginning after age 60, premiums are waived for two years or until the policy anniversary nearest age 65, if later. Riders available at issue between the ages 20-55.
Please note, waiver begins after a waiting period. Condition must meet the disability definition in the insurance contract.
Accidental Death Benefit Rider 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 20–25.
∆ 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 Rider 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.
Maximize your
protection
Unlock
the possibilities
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. 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.
Product and features may not be available in all states. Guaranteed Term 10-15-20 policy form numbers are ICC13-LT or LT-13. (Policy form numbers may vary by state.) For more information on coverage, please write or call your financial professional. © 2013 The Penn Mutual Life Insurance Company, Philadelphia, PA 19172 www.pennmutual.com
PM6043 07/13 | A3CD-0614-01E3
