Mutual Trust/Pan-American Life Policy FAQs
Contact Information
How do I access my account?
Mutual Trust Life/PALIC Phone Number
(800) 323-7320
Mutual Trust Life/PALIC Mailing Address
Make all checks payable to Pan-American Life Insurance Company or PALIC. Please include your policy number on the check and the bottom portion of your billing notice.
Premium payments should be sent to:
PALIC 6109
PO Box 736792
Dallas, TX 75373-6792
Loan repayments should be sent to:
PALIG 1620 Re-Batch
PO Box 737101
Dallas, TX 75373-7101
How do I contact my agent?
By email [email protected] or [email protected]
By phone (801) 335-9411 or (801) 210-1878
Schedule a meeting https://calendly.com/johnstewart
POLICY LOANS
How do I submit a policy loan request?
You must complete the MTL/PALIC loan request form. You can find this online or contact [email protected] to assist.
How will I receive the funds from my loan request?
By default, your loan funds will be sent via check to the address you have on file. You can also have the funds sent via EFT by submitting your bank information.
How do I set up an EFT?
An Electronic Funds Transfer (EFT) allows you to have the loan funds directly deposited into a bank account that belongs to the policy owner. To set up, you will need to complete the form and submit a voided check or statement from the bank account you wish to use.
Once submitted, your EFT information will be kept on file at MTL/PALIC and can be used for future loans without resubmitting.
When will I receive my requested loan funds?
Normal processing time for a loan request is 3-5 business days.
How do I repay my loan?
There are three ways you can make a payment towards your MTL/PALIC loan balance. Please note that MTL/PALIC only accepts payments directly from your bank account (no credit cards). You are able to pay whatever amount you like and as often as you like towards your loan balance - MTL/PALIC has no deadlines or amounts set. However, keep in mind there is interest accruing. At each policy anniversary any interest that has accumulated that past year can be paid. If it is not paid at that time, that interest will roll up into the loan principal:
Pay by phone by calling MTL/PALIC at (800) 323-7320. You will need your bank information readily available.
Pay online by going here. Online payments towards loan repayment can be made throughout the policy year.
To pay through the payment portal: Login to the Online Policy Manager. Click "Select a Policy," choose the "Financial Information" tab, click "Make a Payment," and follow the prompts. (First time visitors will need to register on the site.)
Pay by check Make all checks payable to Pan-American Life Insurance Company or PALIC. Please include both your policy number and the way you’d like your funds applied (“Loan Repayment”) in the memo line. Mail the check to:
PALIG 1620 Re-Batch
PO Box 737101
Dallas, TX 75373-7101
COMMON POLICY CHANGES
How do I change or update my beneficiaries?
You will need to fill out a MTL/PALIC Beneficiary Designation Form to change or add policy beneficiaries. Please email [email protected] to request the form and additional instructions.
How do I change policy owners or add a co-owner?
You will need to fill out a MTL/PALIC Owner Designation Form to change policy owners or add a co-owner. Please email [email protected] to request the form and additional instructions.
How do I change my address?
You can change your address over the phone at (800) 323-7320. Please also be sure to let us know your updated address by emailing us at [email protected].
GENERAL PAYMENT INFORMATION
How do I make payments towards my PUA?
There are three ways you can make a payment towards your MTL/PALIC policy. Please note that MTL/PALIC only accepts payments directly from your bank account (no credit cards):
Pay by phone by calling Penn at (800) 323-7320. You will need your bank information readily available.
Pay online by going here. To pay through the payment portal: Login to the Online Policy Manager. Click "Select a Policy," choose the "Financial Information" tab, click "Make a Payment," and follow the prompts. (First time visitors will need to register on the site.) Online payments towards Paid-up Additions (PUA) and loan repayment can be made throughout the policy year. Online payments towards base premium will not be available until 25 days before your anniversary.
Pay by check Make all checks payable to Pan-American Life Insurance Company or PALIC. Please include both your policy number and the way you’d like your funds applied (“Base Premium”, "Paid Up Addition Rider", and/or “Loan Repayment”) in the memo line. Mail the check to:
PALIC 6109
PO Box 736792
Dallas, TX 75373-6792
How do I get my payment history?
Your payment history can be accessed online by logging in and going to transactions.
OTHER
My lender is requesting a letter from the insurance company to verify where my loan funds came from. How do I get this?
Typically, lenders will be satisfied with a printout of your policy information, as taken from your policy page.
If your lender is requesting additional information, reach out to our team for assistance at [email protected].
I’ve received a letter from the insurance company stating that my policy has become a modified endowment contract (MEC). What should I do?
You’ve received this letter because you have paid more than your maximum allowed annual contributions towards your PUA. You should call MTL/PALIC ASAP to resolve this problem at (800) 323-7320. They will give you the option to refund the excess contribution amount in the form of a check, as long as you return the letter you were sent, as instructed. Alternatively, you may reach out to our team at [email protected] for further instructions.