Universal Life Insurance

Penn Mutual, as part of Life Insurance Awareness Month, released a survey showing that women are unaware of the “living benefits” of life insurance. According to the survey, most women (60%) associate life insurance only with death benefits even if they own permanent life insurance, which has many living benefits. The cash values of permanent life insurance provide income for retirement and quick access to cash when needed–all of the things that rated higher in importance to the women surveyed than a death benefit.

The survey, part of Penn Mutual’s WORTH initiative, promotes educational resources and tools that encourage women to take charge of their financial futures by understanding more fully the entirety of their value to home and family. Penn Mutual developed the Worth for Women calculator that allows a woman to measure her true economic value, including often-overlooked measurements like childcare, budget management and homemaking.

The program also features a website, newsletter, brochures, a seminar series and other communications initiatives for financial professionals to design a plan specifically geared to meet the challenges and fulfill the goals of women at every life stage.

In addition to the resources provided by Penn Mutual, Women can also calculate their life insurance needs and human life value by using the LIFE foundation’s online calculators at www.lifehappens.org.

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