The Penn Mutual Life Insurance Company Maintains Dividend Scale for 2013
The Penn Mutual Life Insurance Company is pleased to announce that its board of trustees has approved a 2013 dividend award that maintains the same dividend scale as its 2012 award, allowing for equitable dividends for qualifying policyholders. The 2013 award of $31 million represents a two percent increase in total payout over the 2012 award.
“As a pioneer of mutual life insurance in America, Penn Mutual believes that purchasing life insurance is the most protective, responsible and rewarding action a person can take to build a solid foundation today and create a brighter future for generations to come,” said Eileen C. McDonnell, President and Chief Executive Officer of Penn Mutual. “Despite continued uncertainty in the economy, our commitment to mutuality and our financial strength have allowed us to pay equitable dividends to our participating policyholders, and we are proud to say that the 2013 scale will be no different, ensuring the sound financial stewardship of our policyholders' interests.”
About Dividends and The Penn Mutual Life Insurance Company
Dividends paid to policyholders at mutual life insurance companies, like Penn Mutual, are refunds of premium based on the actual experience of a block of policies. In contrast, dividends at publicly held insurance companies are paid to shareholders where the amounts of such dividends are based on the company's overall profitability. It is important to note that the payment and amount of policy dividends are not guaranteed.
Since 1847, Penn Mutual has been driven by our noble purpose to create a world of possibilities. At the heart of this purpose is the belief that life insurance is the most protective, responsible and rewarding action a person can take, and is central to a sound financial plan. The company is committed to helping families unlock life's possibilities through life insurance and annuity solutions. This is accomplished through a national network of financial professionals, who help clients make great things possible. Penn Mutual supports its field representatives with brokerage services through Hornor, Townsend & Kent, Inc., a Registered Investment Advisor and wholly owned subsidiary, Member FINRA/SIPC.
2012 The Penn Mutual Life Insurance Company, 600 Dresher Road, Horsham, PA 19044