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The Penn Mutual Life Insurance Company has released a permanent life insurance product. Accumulation builder advantage indexed universal life (“IUL”) now is part of Penn Mutual’s life insurance product portfolio.

The new product features death benefit protection and opportunities to accumulate cash value through a choice of four indexed accounts and a fixed account option. It also rewards policyholders for their loyalty with a 0.75 percent guaranteed policy value enhancement (the “guaranteed bonus”). The guaranteed bonus is credited to the policy’s non-loaned, indexed, and fixed account values as early as policy year 11 – boosting policyholders’ long-term cash values, the company said. The guaranteed bonus is credited regardless of the performance of the policy so it has the effect of raising caps and floors on the indexed accounts by 0.75 percent.

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