Introduction
First Penn Life Insurance is a well-known insurance company that offers a wide range of life insurance products and services. In this article, we will explore the history of First Penn Life Insurance, the types of life insurance policies they offer, and the benefits of choosing them as your insurance provider.
History of First Penn Life Insurance
First Penn Life Insurance was established in 1969 and is a subsidiary of Lincoln National Corporation, a leading financial services company. With over 50 years of experience in the insurance industry, First Penn Life Insurance has built a strong reputation for providing reliable and comprehensive life insurance coverage.
Types of Life Insurance Policies
First Penn Life Insurance offers various types of life insurance policies to cater to the diverse needs of individuals and families. Here are some of the key policies they provide:
Term Life Insurance: Term life insurance provides coverage for a specified period, typically ranging from 10 to 30 years. It offers a death benefit to the beneficiaries if the insured passes away during the term of the policy. Term life insurance is a popular choice for those looking for affordable coverage for a specific period, such as to protect their family during the mortgage-paying years or until children reach adulthood.
Whole Life Insurance: Whole life insurance provides lifelong coverage and includes an investment component known as cash value. This policy builds cash value over time, which can be accessed through withdrawals or policy loans. Whole life insurance offers a death benefit to the beneficiaries and can also serve as a tool for wealth accumulation and estate planning.
Universal Life Insurance: Universal life insurance combines the benefits of life insurance coverage with the potential for cash value growth. It offers flexibility in premium payments and death benefit amounts, allowing policyholders to adjust their coverage as their needs change. Universal life insurance also provides the opportunity to accumulate cash value on a tax-deferred basis.
Benefits of Choosing First Penn Life Insurance
There are several reasons why choosing First Penn Life Insurance can be advantageous:
Financial Stability: As a subsidiary of Lincoln National Corporation, First Penn Life Insurance benefits from the financial strength and stability of its parent company. This ensures that policyholders can have confidence in the company’s ability to fulfill its obligations and provide long-term support.
Wide Range of Coverage Options: First Penn Life Insurance offers a diverse range of life insurance policies to suit different needs and budgets. Whether you are looking for temporary coverage or lifelong protection, they have options available to meet your requirements.
Exceptional Customer Service: First Penn Life Insurance is committed to providing excellent customer service. Their knowledgeable and friendly representatives are available to assist policyholders with any questions or concerns they may have, ensuring a smooth and hassle-free experience.
Conclusion
First Penn Life Insurance has a rich history and offers a comprehensive range of life insurance policies to meet the needs of individuals and families. With their financial stability, wide coverage options, and commitment to customer service, they are a reliable choice for those seeking life insurance protection.
References
– Lincoln Financial Group: www.lfg.com
– First Penn Life Insurance: www.firstpenn.com
