Where is Penn Mutual headquarters address?

Horsham Township, PAPenn Mutual / Headquarters

Is Penn Mutual legit?

Penn Mutual is a historic company with a strong dividend-paying history, a low incidence of complaints, solid financial ratings, high-coverage no-exam life insurance, and affordable term policies.

How long has Penn Mutual been in business?

The Penn Mutual Life Insurance Company, commonly referred to as Penn Mutual, was founded in Philadelphia, Pennsylvania, in 1847. It was the seventh mutual life insurance company chartered in the United States. As of 2019, it had 3,140 employees, $3.7 billion in revenue, and $36.7 billion in assets.

How do I cancel my Penn Mutual Life Insurance Policy?

To cancel your Penn Mutual life insurance policy:

  1. Call customer support on 800-523-0650.
  2. Ask to speak with a representative.
  3. Provide them with your policy number and customer information.
  4. Request cancellation of your policy & recurring payments.
  5. You will receive a confirmation letter or email.

What is net cash surrender value?

The Net Surrender Value, or NSV, is the specific sum of money a life insurance company will award to a policy holder, in the event that there is a voluntary termination of a life insurance policy before it reaches maturity or the death of the policyholder happens.

Is Penn Mutual publicly traded?

This means Penn Mutual is specifically committed to you and your needs as a client. The fact, because they’re a mutual company, policyholders receive annual dividends at the end of the year, if dividends are offered. There are no stockholders, because they not publicly traded.

What type of insurance is Penn Mutual?

Founded in 1847, Penn Mutual Life Insurance Co. sells policies through a national network of financial professionals. It has a solid lineup of term and permanent life insurance policies, plus riders — but you can’t get a quote or apply for coverage online.

Is New York life a direct recognition company?

For instance, the top 2 non-direct recognition life insurance companies are Mass Mutual and New York Life. Both non-direct recognition companies have a policy loan interest rate of 5%.

Is Penn Mutual A mutual company?

Penn Mutual, emphasis on mutual. As a mutual company, we take a long-term perspective with the goal of maintaining our strength and stability for the long haul. We make a lot of commitments to our policyholders, and our long-term focus is a big reason we’ve been able to keep those commitments.

When was Penn Mutual founded?

1847Penn Mutual / Founded

Does Penn Mutual have an app?

Penn Mutual doesn’t have an app. Beneficiaries can fill out the claims form online or call 1-800-523-0650.

Do you have to pay tax on cash surrender value?

Is cash surrender value taxable? Yes. Any money you receive that is over your policy’s cost basis can be taxed as income. The cost basis is the amount you paid toward your policy premiums.