Horsham, PA (Vocus) October 5, 2010
The Penn Mutual Life Insurance coverage Firm, a much more than 163-year-old firm, is pleased to introduce a new living benefit for permanent life insurance coverage policyholders who grow to be chronically ill: The Chronic Illness Accelerated Advantage. This protection is made to give Penn Mutual permanent life insurance coverage policyholders with the alternative to access a portion of their policy death advantage to give an further resource to help assist with the daily demands of a chronically ill individual. There is no charge for the advantage and no effect on the policy values unless it is used.*

The Chronic Illness Accelerated Benefit can aid pay for individual, healthcare, nursing home and household costs. It can also aid in covering the price of unique equipment or modifications to a living space. There are no restrictions on how the cash can be utilised.

Access to this advantage is topic to a waiting period that in most states is two years. After that time, a licensed healthcare practitioner need to certify that the policyholder is unable to perform two of the six activities of everyday living or suffered from a serious cognitive impairment for at least 90 consecutive days within the prior 12 months. Activities of every day living consist of: bathing, continence, dressing, consuming, toileting and transferring.

This new living benefit provides a financial security net for these impacted by chronic illness, says Ray Caucci, Vice President, Item Management. The Chronic Illness Accelerated Advantage can help ease the economic and emotional burden of caring for a chronically-ill person.

The Chronic Illness Accelerated Advantage is automatically included on most newly issued Penn Mutual life insurance policies and, upon request, might be added to eligible policies currently in force.**.