The Penn Mutual Life Insurance Company announced that it’s adding two new term life insurance products: the Guaranteed Convertible Term policy and the Protection Non-Convertible Term policy.
(Related: M Financial Makes Penn Mutual Its Primary Whole Life Supplier)
The convertible term policy offers level-premium terms of 10, 15, 20 or 30 year terms.
The policyholder can convert the policy to permanent life insurance, without providing proof of insurability, during any term period up to 20 years long, and up to age 70.
The non-convertible policy also comes with level-premium terms of 10, 15, 20 or 30 years.