New York Life comes in a close second with 169 straight years of life insurance dividend payments. Strong dividend-paying history: The company has the longest dividend-paying history of the 91 life insurance companies we reviewed.Other companies may require you to convert within the first 10 years of the policy. You can also convert the death benefit to permanent coverage during the term period selected, up to 20 years, or until you turn 70, whichever happens first. This is a nice feature compared to some companies that don’t make their entire portfolios available for term conversion. Generous term conversion options: Penn Mutual lets you convert its Guaranteed Convertible Term policy to any of its whole life products.Penn Mutual did well across all age groups. We gathered quotes across a range of ages for healthy males and females for 30-year $250,000 policies. Well-priced term policies: Penn Mutual has the fourth-cheapest term policies of the 32 companies for which we collected rates.
