Save Smarter With The College First PlanSM
The College First PlanSM is an easy and affordable way to save for college with juvenile life insurance. For as little as $5 a day, you can give your child or grandchild a head start on their college education and whatever comes next.
The College First PlanSM is a strategy that utilizes a Penn Mutual indexed universal life insurance policy1 linked to the performance of the S&P 500®.2
The College First PlanSM is guaranteed to increase, by a minimum interest rate of 2.0% every year regardless of the performance of the S&P 500® index. Plus, in years when the S&P 500® increases additional interest will be credited to you annually up to a specified cap (currently 12%). When the S&P 500® decreases, the minimum interest rate of 2% provides downside protection.
Access to your money
Parents, as policy owners, can access cash value on a tax-free basis through withdrawals or loans. Loans and withdrawals will reduce the cash value and death benefit amounts.
Insurance for life
Your child or grandchild can have permanent life insurance for life, regardless of future health or insurability.3
Choose the annual contribution that fits your budget, you can always contribute more. Policy cash value can be used to pay future premiums.
Unlike other plans, you do not need to use the savings to pay for college - the policy cash value can be used at any time, for any purpose, without penalty. For example, a down payment for a home, or to start a business.