Acting in the long-term best interests of all of its policyholders, Penn Mutual has made the business decision to no longer accept applications for the following life insurance products from New York state effective
April 1, 2018:
• Accumulation Builder Advantage Indexed
• Universal Life
• Guaranteed Protection Universal Life
• Survivorship Plus Indexed Universal Life
• Protection Guard Universal Life
This decision is aligned with our 2017 CSO product portfolio strategy in New York state.
Formal applications In Good Order for these products must be received in the Home Office no later than Friday, March 30, 2018. The policies that result from these applications must be issued and paid for by Thursday, May 31, 2018.
All applications will need to be at KAFL by March 29, 2018 to ensure we have enough time to meet their deadline of March 30, 2018.
In accordance with existing policy terms, advisors may continue to service all inforce policies in New York.
Products Still Available in New York
The following life insurance products will continue to be available in New York state:
· Guaranteed Choice Whole Life
· Diversified Growth Variable Universal Life
· Guaranteed Term 10-15-20
· One Year Term
Please note, there will be no change in the annuity products available in New York state.
Questions? Please contact your KAFL Brokerage Manager