Penn Mutual Issues Premium Change for the Survivorship Plus Select IUL Extended No-Lapse Guarantee (ENLG) Rider Effective August 1

Effective August 1, 2021, Survivorship Plus Select IUL (SPSIUL) ENLG rider premiums required to guarantee the policies death benefit will increase by 24% in all states where the product and rider are available for sale. This change will apply to all new business cases with applications submitted August 1 and later. Please note that this change will not impact SPSIUL policies without the ENLG rider.

This change is due to the persistent, low-interest rate environment. Penn Mutual’s pricing actions are consistent with trends in the marketplace. SPSIUL will continue to be a competitive product.