William Pen Life Insurance Company was founded in 1963 and was initially named Modern Life Insurance Company. The company was later acquired by a subsidiary of Penncorp Financial in 1987. The company underwent several changes until it was renamed William Penn Life Insurance Company of New York in 1975. William Pen Life Insurance Company was later acquired by Legal & General Group Plc and is today a wholly owned subsidiary of Banner Life Insurance Company.
At the end of 2016, William Pen Life Insurance Company has over $1.1 billion in assets and over $87 billion worth of life insurance in force. William Penn Life Insurance's portfolio includes 92 per cent investment grade assets and also includes 18 per cent in U.S. government holdings. It should be noted that William Pen Life Insurance Company operates only in New York.
William Penn Life Benefits Include:
- Excellent agent commissions - NAAIP guarantees highest
- Among the lowest rates in the term life insurance industry
- 10, 15, 20, 30 year term life - ROP option
- Flexible underwriting - Underwriters will work with you
- Rating agencies consistently rate highest
- Outstanding, responsive customer service
- Term life provider for very young and old
- Subsidiary of Banner Life, America's 5th largest term life seller
William Penn Life Product Overview:
Detailed Product Overview
William Penn Life Insurance Company has been doing increasing sales since its inception. William Penn has sold affordable life insurance products to hundreds of thousands of New Yorkers. William Penn Insurance offers comprehensive term life and universal life insurance products that provide customers with a lot of benefits and flexibility. Term life products offered by William Penn Life Insurance Company include OPTerm 10, OP Term 15, OP Term 20, OP Term30, Life Value Term 20 and Life Value Term 30.
With no exposure to collateralized loan obligations, credit default swaps, collateralized debt obligations, equity investment or owned real estate, William Penn is economically well positioned to sustain its continued financial rise.
William Pen Life Insurance Company is also recognized by all top ratings providers, including a Standard and Poor's rating of AA-.
* The information provided is intended for licensed insurance agents only. It is not intended for the purpose of advertising the insurance products to the general public.