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Penn Mutual

  The Penn Mutual Life Insurance Company, also commonly referred to as Penn Mutual, was founded in Philadelphia, Pennsylvania in 1847  

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Penn Mutual Life Insurance was the seventh mutual life insurance company chartered in the United States. It is headquartered in Horsham, Pennsylvania just outside of Philadelphia

The Penn Mutual Life Insurance Company has a rich history and a passion for a bright future.  A legacy of financial strength, a prudent investment philosophy, keeping our promises and staying true to our mission and values all contribute to our success and stability.  As a mutual company that operates in the best interests of our policyholders, we can maintain a client-centered, long-term focus, without over-emphasis on short-term results.

Our one overriding commitment is to help clients achieve a lifetime of financial security.  We achieve this by providing life insurance, annuities and living benefits through our national network of financial professionals who help their clients meet their financial needs with confidence.  In addition to these primary product lines, the company supports its financial professionals with related investment and brokerage products through its wholly owned broker-dealer subsidiary, Hornor, Townsend & Kent, Inc. 

Principal Subsidiaries

Through its affiliates, Penn Mutual is able to offer a full range of specialized products and services to help meet the varied needs of its clients. These five strong companies add to the overall strength and value of Penn Mutual as a whole.

Hornor, Townsend & Kent, Inc. (HTK)

Hornor, Townsend & Kent, Inc. (HTK) is a wholly owned broker/dealer subsidiary of Penn Mutual, with access to a full range of registered investment products and services, including mutual funds, stocks, bonds, variable life insurance products and annuities. HTK supports its representatives with a highly trained staff who are dedicated to providing the resources needed to help them meet their clients’ financial goals.  

Janney Montgomery Scott LLC  (JMS)

Janney Montgomery Scott LLC (JMS) is one of the largest, full-service regional securities broker/ dealers in the country, serving customers in the Eastern United States through a comprehensive network of branch offices. In addition to Penn Mutual products, it offers clients a complete range of investment vehicles, from individual securities to mutual funds, insurance, money management and other financial service products. It also provides investment banking services to corporations and institutional clients. Janney is a member of the New York Stock Exchange, where it holds the second-oldest seat, all other major U.S. exchanges, the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).

The Pennsylvania Trust Company

Founded in 1986, The Pennsylvania Trust Company provides trust and investment-management services for individuals, families and institutions, including private foundations, endowments and both public and private employee benefit plans.  It offers clients investment-management services; trust and guardianship administration; estate planning; general financial planning; tax planning and preparation; and custody services.  The company's team of trust and investment professionals is responsible for the management and administration of more than $1 billion of client assets.

Independence Capital Management, Inc. (ICMI)

Independence Capital Management, Inc., (ICMI) is a wholly owned investment advisory subsidiary of Penn Mutual.  It is responsible for fund selection and performance for the sub advisors within Penn Mutual's variable products, ensuring that they are performing well and in a manner consistent with their asset style.  It is also responsible for making the day-to-day investment decisions for several of the fixed income sub accounts.

In addition, ICMI manages separate account bond assets for institutional investors.

The Penn Insurance and Annuity Company (PIA)

Founded in 1980, The Penn Insurance and Annuity Company (PIA) is a wholly owned life insurance subsidiary of Penn Mutual. Domiciled in Delaware, PIA maintains its operations in Horsham, Pennsylvania, and is licensed to do business in 48 states and the District of Columbia. It markets its business through Penn Mutual’s distribution systems and has its in-force business serviced by the parent company.

Term Life Insurance

Term life insurance policies are designed to provide temporary protection at an affordable cost — particularly in the earlier years. The contract between the policy owner and the insurance company is for a specific period of time or “term.” Term policies deliver pure death benefit protection and appeal to those seeking cost-effective, temporary coverage.

Level Premium Term Insurance
Those who prefer that their premium remain the same or “level” for a specific period of time, such as 10, 15 or 20 years, may choose to purchase a level term policy. The death benefit is also level, meaning the death benefit remains the same throughout the life of the policy. These policies may also include a conversion provision, allowing you to convert the policy to permanent insurance.

Guaranteed Term 10-15-20 Life Insurance: The Protection You Need Now, The Options You'll Want Tomorrow
The fixed or level annual premium can make obtaining high levels of coverage suprisingly affordable. This makes it ideal for young families or new businesses with limited resources who need a certain amount of life insurance protection, but may feel put off by the cost. Plus, Guaranteed Term 10-15-20 offers a high degree of flexibility in its conversion options that differentiates it from other term life insurance policies.

All guarantees are based upon the claims-paying ability of the issuer.  Guaranteed Term 10-15-20 policy form numbers are LT-99(S) or LT-99(U).  Policy form numbers may vary by state.  A7JC-0319-07

Penn Mutual-

Penn Mutual is under a mutual structure

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A Tale Of Two Agents

Captive Agent

An agent working exclusively for a single firm. He or she is obliged to submit business only to that firm, or at least give that firm first rights of refusal on the case.

Captive agents that are non-established are usually paid on a combination of salary and commissions earned from selling the policy contract. Also, the firm usually provides its captive agents with an allowance for office expenses as well as employee benefits such as pensions, life insurance, and health insurance. 

The established captive agent is usually paid exclusively on a commission basis.  This type of agent will tend to have more in-depth knowledge of that firm's policies, however, he or she will hardly ever be equipped to offer the industries' best price on any particular product offering.

Independent Agent Broker

Simply said, independent agents are appointed to sell policies from many insurers. The agent is independent from all insurers thus, the independent agent's responsibility is solely focused on evaluating the client's needs and the pricing of the product chosen.

While searching for the brokerage market's best place for a client's business, independent agents pay all their own expenses and keep their own records and earn their income from brokerage commissions on the policies they sell.

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