Penn Mutual’s Survivorship Plus® IUL product offers several distinct advantages:
- Permanent, guaranteed last survivor protection for two lives in one cost-effective policy
- Versatility to customize estate planning, wealth transfer or accumulation and income needs and expenses
- Tax-deferred growth, strong accumulation potential and convenient access to policy cash value
- Provides downside protection with a guaranteed annual interest floor that ensures a positive return — even when the market is down
A Base No-Lapse Guarantee is included with the Survivorship Plus® IUL product. For those in need of guaranteed coverage for longer than 20 years, the Extended No-Lapse Guarantee Rider* is available for an additional cost and is designed to keep the existing death benefit intact until the insured is 121 years old, even if the policy’s net cash value becomes insufficient to cover monthly policy charges.
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"Penn Mutual’s Survivorship Plus® IUL product provides permanent protection for two lives in one, cost-effective policy, making it the ideal choice for couples or business partners looking to set up a plan that supports mutual goals," said Ray Caucci, Vice President, Product Management for The Penn Mutual Life Insurance Company. "By including the Extended No-Lapse Guarantee Rider with the Survivorship Plus® IUL product, a policyholder’s death benefit is guaranteed to remain secure, regardless of the cash value in the policy, as long as the no-lapse guarantee requirements are met. In addition to the valuable death benefit for joint lives, Survivorship Plus® IUL provides the opportunity to build cash value that can be accessed to help supplement retirement income, pay for college or fulfill any of life’s possibilities."
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