Is Penn Mutual a Good Insurance Company?
Over 100 Carriers to Quote From. Here are a few of them!
Is Penn Mutual a good insurance company? For many retirees, pre-retirees, and lifelong savers, the answer is often yes—and for good reason. At Diversified Insurance Brokers, we work with more than 100 top-rated carriers to help clients secure guaranteed lifetime income, protect their portfolios, and build long-term financial stability. Among those companies, Penn Mutual stands out as one of the oldest, strongest, and most consistently reliable mutual life insurers in the United States. Founded in 1847, the company has earned a reputation for conservative financial management, high dividend performance, and client-first values that span generations.
Because Penn Mutual is a mutual company—owned by policyholders rather than shareholders—it is able to prioritize long-term strength over short-term profits. This structure supports highly competitive whole life products, stable annuity options, and contract features built to protect individuals through every stage of retirement planning. For clients who value security, lifetime guarantees, and products designed to weather market cycles, Penn Mutual frequently rises to the top of the list.
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About Penn Mutual Life Insurance Company
Penn Mutual’s legacy as a financially strong institution is rooted in its conservative approach to investing and its unwavering commitment to policyholder benefits. Rather than taking excessive risks, the company focuses on building predictable, reliable long-term results—an approach that has helped it maintain stable ratings and weather economic downturns for nearly two centuries. Policyholders often appreciate the consistency of Penn Mutual’s dividend history, the strength of its guarantees, and its ability to keep products competitive even in fluctuating interest rate environments.
Popular Penn Mutual Products
Penn Mutual offers a robust suite of solutions designed for accumulation, protection, and retirement income needs. Their whole life policies are widely recognized for strong guarantees, predictable cash value growth, and a long-term dividend track record that makes them appealing to traditional savers. For those who want flexibility paired with growth potential, Penn Mutual’s indexed universal life (IUL) products provide market-linked crediting strategies with downside protection. They also offer dependable fixed annuities and multi-year guaranteed annuities (MYGAs) for conservative savers seeking stable returns, as well as variable annuities with optional income riders for clients who desire market participation with structured protection.
Who Penn Mutual Is a Good Fit For
Penn Mutual tends to be a strong match for individuals who prioritize financial strength, policyholder alignment, and long-term guarantees. Retirees and pre-retirees often gravitate toward the company’s dependable annuity lineup, especially when seeking predictable lifetime income or inflation-conscious income strategies. Clients who value whole life insurance for its guarantees, stable dividends, and long-term planning benefits also find Penn Mutual appealing. Investors seeking balanced growth may appreciate the combination of market-linked potential and strong downside protection available in their indexed universal life offerings.
Pros of Penn Mutual
The company’s biggest advantages stem from its longevity and mutual structure. With more than 175 years of history, Penn Mutual has maintained outstanding ratings across independent agencies—an indicator of financial strength and claims-paying ability. Their whole life dividend performance is consistently strong, making the policies attractive to long-term planners who prefer steady, predictable growth. Penn Mutual also offers a broad product range designed to support various stages of financial planning, including accumulation, income, wealth transfer, and estate strategies.
Considerations
As with any company, there are factors for clients to be aware of. Some Penn Mutual products are available only through certain financial professionals, and availability may vary by state. Pricing and features differ across product types, so selecting the right option requires careful comparison. Additionally, because Penn Mutual offers numerous riders and variations, working with an independent advisor can help avoid unnecessary complexity and ensure that the final policy aligns with your specific goals and timeline.
Our Take
At Diversified Insurance Brokers, we consider Penn Mutual one of the most dependable, client-focused carriers available today. Their long-standing commitment to policyholder value, conservative financial stewardship, and competitive annuity and life insurance offerings place them firmly among the strongest mutual companies in the marketplace. Whether you’re exploring whole life insurance for guaranteed growth, searching for a reliable income annuity, or evaluating long-term protection strategies, Penn Mutual delivers products built for durability and financial confidence. For individuals who prioritize stability and long-term value, Penn Mutual is an excellent company to consider.
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FAQs: Is Penn Mutual a Good Insurance Company?
What financial strength ratings does Penn Mutual hold?
Penn Mutual holds consistently strong ratings from leading agencies, including A+ from AM Best, Aa3 from Moody’s, A+ from S&P, and AA ratings from other major evaluators—reflecting stability and excellent long-term claims-paying ability.
How long has Penn Mutual been in business?
The company was founded in 1847 and has operated as a mutual life insurer for more than 175 years, prioritizing long-term security and policyholder value.
What types of products does Penn Mutual offer?
Penn Mutual offers a wide range of solutions including term life insurance, participating whole life, indexed and variable universal life, fixed annuities, income annuities, and MYGAs.
What makes Penn Mutual a strong choice for whole life buyers?
The company is known for competitive guaranteed cash value growth, strong long-term dividend performance, and conservative financial management—making its whole life policies attractive to clients seeking long-term stability.
Are there any downsides?
Some products are not available in every state, and certain riders or advanced policy designs may require professional guidance. Like all carriers, costs vary based on age, health, and product selection.
About the Author:
Jason Stolz, CLTC, CRPC, is a senior insurance and retirement professional with more than two decades of real-world experience helping individuals, families, and business owners protect their income, assets, and long-term financial stability. As a long-time partner of the nationally licensed independent agency Diversified Insurance Brokers, Jason provides trusted guidance across multiple specialties—including fixed and indexed annuities, long-term care planning, personal and business disability insurance, life insurance solutions, and short-term health coverage. Diversified Insurance Brokers maintains active contracts with over 100 highly rated insurance carriers, ensuring clients have access to a broad and competitive marketplace.
His practical, education-first approach has earned recognition in publications such as VoyageATL, highlighting his commitment to financial clarity and client-focused planning. Drawing on deep product knowledge and years of hands-on field experience, Jason helps clients evaluate carriers, compare strategies, and build retirement and protection plans that are both secure and cost-efficient.
