The Penn Mutual Life Insurance Company Introduces New Product to Bolster Individual’s Financial Security

The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000
Company, introduces a new Guaranteed Whole Life^SM insurance
product that provides an array of options for a lifetime of security.
The product’s built-in features, including a customized payment period,
can offer peace of mind for policyholders and their beneficiaries.

The Guaranteed Whole Life insurance product provides industry-leading
cash value accumulation and death benefit protection to policyholders.
It also allows them the opportunity to participate in the growth of Penn
Mutual through an annual non-guaranteed dividend. Through strong
corporate performance, Penn Mutual has demonstrated its commitment to
financial strength and responsibility by having one of the strongest
dividend histories in the industry over the last 20 years.

Adding to the strength of Penn Mutual’s product portfolio – the most
comprehensive collection in the industry – the Guaranteed Whole Life
product includes an income-tax-free death benefit, guaranteed for the
life of the policyholder and immediately accessible to the beneficiaries
of the policy, along with the ability to access part of the death
benefit in the event of chronic or terminal illness to the policyholder.
These guaranteed benefits can help families maintain their lifestyle,
stay in the home they love, finish their education and achieve other
lifetime goals.

“We are excited to introduce this new whole life product to our already
strong and competitive portfolio,” said Heather Yonosh, VP, product
development and pricing at Penn Mutual. “With guaranteed cash value
accumulation that leads the market, we can provide better long-term
growth for policyholders and the flexible coverage options can be
tailored to provide a lifetime of security and meet their needs both now
and in the future.”

The robust new product also allows consumers to customize the policy and
add other forms of protection specifically suited to the needs of their
family or business. Because the new Guaranteed Whole Life insurance
product accumulates tax-deferred cash value, it can be accessed at any
time, for any reason. This way, policyholders can feel safe knowing that
their family is protected while having the flexibility of money they can
use for things like building a comfortable retirement, paying college
expenses, covering emergency costs or growing a business.

About The Penn Mutual Life Insurance Company

Penn Mutual is committed to helping people live life with confidence. At
the heart of this purpose is the belief that life insurance is central
to a sound financial plan. Through our network of trusted advisers, we
are dedicated to helping individuals, families and businesses achieve
their dreams. Penn Mutual supports its advisers with retirement and
investment services through its wholly owned subsidiary Hornor, Townsend
& Kent, LLC, member FINRA/SIPC.
Visit Penn Mutual at www.pennmutual.com.

©2020 The Penn Mutual Life Insurance Company, 600 Dresher Road, Horsham,
PA 19044

ACCELERATED BENEFIT – CHRONIC ILLNESS RIDER DISCLOSURE FOR CALIFORNIA
RESIDENTS:

The Chronic Illness Accelerated Benefit Rider is a life insurance
benefit that also gives you the option to accelerate some of the death
benefit in the event that you meet the criteria for a qualifying event
described in the policy. This rider does not provide long-term care
insurance subject to California long-term care insurance law. This rider
is not a California Partnership for Long-Term Care program policy. This
rider is not a Medicare supplement policy. An Accelerated Benefit
Payment (ABP) is the actual benefit paid by the Chronic Illness
Accelerated Benefit Rider and is subject to the ABP limits in the
contract. The benefits provided by long-term care insurance are not the
same as those provided by the Chronic Illness Accelerated Benefit Rider.
The Chronic Illness Accelerated Benefit Rider requires a licensed health
care practitioner to certify that continuous care in an eligible
facility or at home is expected to be required for the remainder of the
insured’s life when the insured has a Chronic Illness, whereas long-term
care insurance does not generally have this requirement. The Rider also
does not restrict how the policy owner can use the Accelerated Benefit
Payments, whereas long-term care insurance will generally require proof
of expenses incurred. The Chronic Illness Accelerated Benefit Rider pays
proceeds that are intended to qualify for favorable tax treatment under
section 101(g) of the Federal Internal Revenue Code. The federal, state,
or local tax consequences resulting from payment of Accelerated Benefit
Payments (ABPs) will depend on the specific facts and circumstances, and
consequently, advice and guidance should be obtained from a personal tax
advisor prior to the receipt of any ABPs. Death benefits and policy
values, such as cash values, premium payments and cost of insurance
charges if applicable, will be reduced if an ABP is paid.

All guarantees are based on the claims paying ability of the issuer.
Dividends are not guaranteed and past performance is not indicative of
future results. Dividend scale comparison developed using information
believed to be accurate as of November 2019. Penn Mutual information in
the dividend scale comparison is based on the whole life products
inforce during the years reported. Guaranteed Whole Life (ICC18-TL) is a
whole life insurance policy offered by The Penn Mutual Life Insurance
Company.

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