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Penn Mutual's Current Assumption UL

Hear about Penn Mutual's new product from Ray Caucci, Senior VP of Product Management and Underwriting.

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A current assumption UL product with permanent death benefit protection and top-tier rankings for annual, single and 10-pay premium designs.

All of the underwriting information you need, including age and amount requirements, underwriting rules, medical conditions and more.

A first of its kind digital buying experience that dramatically cuts application and issue times – with or without Accelerated Underwriting.

Get prompt assistance by contacting local support team members who are dedicated to your channel and resident state.

Recent Updates

IRC Section 7702 Revisions and Life Insurance Limit Impact

January 25, 2021

The Consolidated Appropriations Act, signed into law December 27, 2020, includes changes to the tax code that will reduce the minimum interest rate assumptions insurance companies may use. These changes will affect the definition of insurance including:

  • The Guideline Premium Test and the Cash Value Accumulation Test under Internal Revenue Code (IRC) Section 7702 and;
  • Modified Endowment Contracts under IRC Section 7702A

Once implemented, the reduced interest rate assumptions will allow for increased premiums for new permanent life insurance policies sold utilizing these revised rates. Penn Mutual is evaluating the impact of the updated rates and will be monitoring industry reactions to the rate changes as we move forward.

We will provide additional updates on section 7702 and impacts to our product portfolio as they become available.