By Jeffrey Borrowman, Wholesaler & Director, National Sales Desk

One of the conversations I often have with financial professionals is about the perceived cost of life insurance, and how frequently clients overestimate it. Competitive term pricing plays an important role in closing that gap and helping more families secure protection. A recent pricing update from Penn Mutual, effective March 1, 2026, strengthens the value financial professionals can offer clients looking for affordable term coverage. 

Many consumers misunderstand the cost of protection. LIMRA research shows 72% of Americans overestimate the cost of life insurance. Because of this perception, many households delay purchasing coverage. That’s why affordable term coverage often becomes the starting point in many financial plans, providing protection during the years when income replacement matters most.  

With this update, Penn Mutual’s term products are positioned to compete at the very top of the market and help financial professionals stay competitive in an increasingly price-sensitive market. 

• Protection Non-Convertible Term now ranks No. 1 in 90% of pricing cells for individuals ages 35–55 for both males and females, across all risk classes, face amounts, and term durations¹. For many financial professionals working with young families or mid-career professionals, that level of competitiveness can make a meaningful difference in client conversations. 
• Guaranteed Convertible Term also benefits from improved pricing while continuing to offer the flexibility and long-term value clients expect from Penn Mutual. 

Penn Mutual’s Guaranteed Convertible Term allows clients to secure affordable protection today while maintaining the ability to transition to permanent coverage later if their financial situation changes. 

The product includes these industry-leading conversion privileges, which can provide important planning flexibility for advisors and their clients: 

• Convert to any Penn Mutual permanent life product available in their state at any time during the level term period, up to the policy anniversary nearest the insured’s 70th birthday. 
• For 30-year terms, convert during the first 20 years of the policy. 
• Combine face amounts when converting to a survivorship life insurance product². 

This flexibility can be especially valuable for clients whose financial needs may evolve over time. Penn Mutual’s Accelerated Client Experience (ACE) platform is a flexible, convenient, award-winning life insurance platform designed to make submitting applications easier for financial professionals. 

With this new term pricing, financial professionals affiliated with 1847Financial have an opportunity to offer clients high-value protection solutions backed by Penn Mutual’s long-standing commitment to financial strength and policyholder value. Competitive term pricing, paired with strong conversion options, enables an effective protection strategy that starts with simple, affordable coverage and evolves over time. 

Connect with me on LinkedIn, I’d be happy to give you a quote on your next term case!

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^{Source:
LIMRA Life Insurance Fact Sheet, https://www.limra.com/siteassets/newsroom/fact-tank/fact-sheets/2024-life-insurance-fact-sheet-final.pdf}

^{1 - Rankings are based on term competitiveness as of February 6, 2026.
2 - To combine the term face amounts for term conversions to survivorship products, both term policies must be issued March 1, 2024, or later, have the stacking endorsement, and the conversion date must be after the first policy anniversary and within the eligible conversion period for both term policies.} 

^{All guarantees are based on the claims-paying ability of the issuer.
Guaranteed Convertible Term (Policy form ICC18-LT) is a term life insurance policy offered by The Penn Mutual Life Insurance Company in all states except New York. Policy form numbers vary by state. Product and features may not be available in all states. In New York, Guaranteed Convertible Term (Policy form: PINY-LT-20-R) is offered by The Penn Insurance and Annuity Company of New York, a wholly-owned subsidiary of The Penn Mutual Life Insurance Company.
Protection Non-Convertible Term (Policy form: ICC18-LT-N) is a term life insurance policy offered by The Penn Mutual Life Insurance Company in all states except New York. Policy form numbers vary by state. Product and features may not be available in all states. In New York, Protection Non-Convertible Term (Policy form: PINY-LT-20-R) is offered by The Penn Insurance and Annuity Company of New York, a wholly-owned subsidiary of The Penn Mutual Life Insurance Company.
ACE is not available in New York. All information, including product features, availability, rates, and other provisions is believed to be accurate as of February 2026 and is subject to change without notice.}