Guarantees in Estate Protection UL and the Growth & Income Protector Benefit Help Provide Peace of Mind and Protection

Consumers are living longer and their life expectancies continue to increase. For example, a 65-year-old woman has a 50 percent chance of living to age 88 and a 25 percent chance of reaching 94.* In addition, a married couple has a better than 50 percent chance that one of them will live well into their 90s.* As a result, they will need their life insurance and retirement income to last longer too.

To help these consumers enjoy the prospect of living longer, The Penn Mutual Life Insurance Company recently added two new offerings to its product line.

Estate Protection UL

The Estate Protection UL product is a flexible premium, fixed-interest guaranteed survivorship universal life policy that covers both spouses up to age 121. (All guarantees are based upon the claims-paying ability of the insurer). So no matter how long either spouse lives, he or she can relax, knowing that the estate has death benefit protection to help cover federal estate taxes, debts, legal fees and other final expenses. In other words, their children and grandchildren may be protected from the full responsibility of taxes and other final expenses.

Growth & Income Protector Benefit

The enhanced Growth & Income Protector Benefit is a comprehensive optional rider that offers three guarantees designed to address lifelong retirement needs. It is available with Penn Mutual’s Penn Freedom, Pennant Select and Enhanced Credit Variable Annuities for an additional current annual charge of 0.65 percent of the contract value in the sub-account for a single contract and 0.85 percent for a joint contract.

The three guarantees offered by the Growth & Income Protector include:

Guaranteed income withdrawals

Guaranteed growth and

Guaranteed death benefit protection.

Plus, this rider is available as either single protection or joint protection for spouses, which provides additional peace of mind for retirement income throughout the lifetime of both spouses.

“The Estate Protection UL policy and the Growth and Income Protector rider are examples of how we are assessing the consumer needs in the marketplace and responding to those needs,” says Frank Howell, MSM, CLU, ChFC, Penn Mutual’s senior vice president of Sales Support.

A sound provider of life insurance for 160 years, Penn Mutual enjoys a strong financial record and a reputation for honoring its financial commitments, and is continually meeting the needs of consumers by growing and expanding its product and rider offerings.

For more information on the Estate Protection UL and the Growth & Income Protector Rider as well as other Penn Mutual products and riders, talk to a financial advisor or visit www.pennmutual.com, where you can also locate the nearest Penn Mutual representative.

About The Penn Mutual Life Insurance Company

The Penn Mutual Life Insurance Company is the nation’s second oldest mutual life insurer. Founded in 1847, the company provides life insurance and annuities through a national network of financial professionals who help clients meet their financial needs with confidence. Penn Mutual supports its field representatives with brokerage services through Hornor, Townsend & Kent, Inc., its wholly owned subsidiary. Visit Penn Mutual on the Internet at www.pennmutual.com.

Investors should consider the investment objectives, risks, charges and expenses before investing. Please carefully read the prospectuses carefully for the relevant variable product and its underlying investment options, which contain this and other information. You can obtain a prospectus from your Penn Mutual financial professional or visit www.pennmutual.com (Planning & Products tab).

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Contacts

Levlane PR

Jennifer Ryan, 215-825-9625

jryan@levlane.com

Source: Annuity 2000 Mortality Table; Society of Actuaries

© 2007 The Penn Mutual Life Insurance Company Philadelphia, PA 19172 www.pennmutual.com

© Business Wire 2007