AT A GLANCE
- Proinsurancereview standing: No. 6 life Insurance Provider.
- Broad array of term and permanent life insurance.
- Quotes aren't available online.
Penn Mutual Life Insurance
Co. is owned by its policyholders, meaning that clients who purchase whole life insurance may discuss in dividend payouts once the business does well. Its 2020 dividend payout was put by the business . Founded in 1847, Penn Mutual doesn't provide estimates online and sells life insurance coverage via its own network of advisors. The business has instant, fixed, and variable annuities. Penn Mutual life insurance
Penn Mutual ranks No. 6 to Proinsurancereview listing of the greatest life insurance businesses. Proinsurancereview assesses the nation's biggest life insurance companies based on customer complaints and financial strength, customer satisfaction.
Life insurance choices from Penn Mutual comprise:
Term lifestyle. You may select a duration of 20, 15, 10, or even 30 decades and can convert a portion or all the term life insurance policy to your policy that is permanent. In the event that you make the policy permanent, the cost remains flat throughout the duration but increases.
Universal lifestyle. Three sorts of life insurance coverage are offered. Oftentimes you are able to get a part of their death benefit before you die if you create a terminal or chronic illness.
Variable universal life. The cash value of the policy is based. You select among five funds that are searchable to coordinate with your risk tolerance or can construct your portfolio from a variety of 24 investment capital.
Entire life. Just like life insurance policies, the cash value grows at a rate that is guaranteed. Since Penn Mutual is a mutual insurer, the coverage has the capability to collect money in a long time once dividends are paid out by the company.
Survivorship life insurance policy . A couple indexed universal life coverage or either can be covered under a single lifetime. After the person dies the death benefit is paid.Penn Mutual customer satisfaction and complaints
Over three decades, Penn Mutual has experienced fewer complaints to state authorities than anticipated for a firm of its size, based on the Proinsurancereview evaluation of information from the National Association of Insurance Commissioners.
Penn Mutual rated below average for total client satisfaction in J.D. Power's 2019 U.S. Life Insurance Study. The insurance company rated No. 19 overall from 24 life insurance firms assessed.
| Customer satisfaction class | Penn Mutual's score |
|---|---|
| Total satisfaction | Below typical |
| Billing and payment | Below typical |
| Cost | Below typical |
| Policy offerings | Below typical |
| Interaction | Much Better than many |
| Communication | About typical |
If you want to read - Esurance Insurance Review 2020
METHODOLOGY: INSURER COMPLAINTS
Proinsurancereview analyzed complaints received by state insurance regulators and reported on the National Association of Insurance Commissioners in 2016-2018. To evaluate how insurance companies compare to another, the NAIC computes a criticism index annually for every subsidiary, measuring its share of overall complaints relative to its dimensions, or share of total premiums from the business. To evaluate a business's complaint history, Proinsurancereview calculated that a comparable indicator for every insurer, measured by market shares of each subsidiary, within the three-year interval. Ratios are decided for home, automobile, and life insurance.
Go to Penn Mutual life website