Estate planning at Penn Mutual
How to protect 21 Penn Mutual accounts — manage beneficiaries online, fund a trust by mail, and file death claims
Client Services Center
The Penn Mutual Life Insurance Company, PO Box 178, Philadelphia, PA 19105 (overnight: 1600 Malone Street, Millville, NJ 08332)
Client Services Center
The Penn Mutual Life Insurance Company, PO Box 178, Philadelphia, PA 19105 (overnight: 1600 Malone Street, Millville, NJ 08332)
Death Claims Division
The Penn Mutual Life Insurance Company, Death Claims Division, PO Box 178, Philadelphia, PA 19105 (overnight: 1600 Malone Street, Millville, NJ 08332)
Penn Mutual is a insurance company with 21 products relevant to estate planning. Life insurance and annuity proceeds transfer directly to named beneficiaries outside of probate, making beneficiary designations one of the most important estate planning steps for Penn Mutual policyholders.
Managing beneficiaries at Penn Mutual is straightforward—changes can be made online, by mail, and by phone, typically taking 20-30 minutes to complete and return the form. Trust funding is also available, allowing families to name a trust as the policy beneficiary or establish an irrevocable life insurance trust (ILIT).
Penn Mutual provides specific procedures for both proactive estate planning and filing claims after a death.
Preparing your estate
Beneficiaries and trust funding
How to manage beneficiaries online, fund a trust by mail, and review 21 account types at Penn Mutual.
View details →When someone dies
Death claim process
7-step process, 6 required documents, and contact information for survivors.
View details →Frequently asked questions
No. The Annuity Beneficiary Designation Form (PM4799) states that if the annuity contract is owned by a non-natural entity — which includes a trust, an LLC, or a corporation — the beneficiary change cannot be executed, and the non-natural owner must remain the primary beneficiary. In practice the contract pays back to the trust, and the trust document then controls who receives the money. Two related quirks appear on the same form: on Smart Foundation contracts the surviving owner is deemed the sole primary beneficiary regardless of the designation, and on contracts with joint-elected benefits the contingent or joint annuitant must be named the sole primary beneficiary. Spousal consent before a notary is required on the annuity form only for IRC Section 403(b) contracts and contracts carrying a 401(g) endorsement.
Sources
Data sourced from Penn Mutual primary sources (22 pages reviewed). How we research.
Client Services Center
The Penn Mutual Life Insurance Company, PO Box 178, Philadelphia, PA 19105 (overnight: 1600 Malone Street, Millville, NJ 08332)
Client Services Center
The Penn Mutual Life Insurance Company, PO Box 178, Philadelphia, PA 19105 (overnight: 1600 Malone Street, Millville, NJ 08332)
Death Claims Division
The Penn Mutual Life Insurance Company, Death Claims Division, PO Box 178, Philadelphia, PA 19105 (overnight: 1600 Malone Street, Millville, NJ 08332)
Estate planning articles
Learn how to protect your Penn Mutual accounts and other assets with trusts, beneficiary designations, and estate planning documents.
