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Frequently Asked Questions for Active Vaults
AUL/One America
POLICY LOANS
How do I submit a policy loan request?
AUL Loans under $5,000
Loans less than $5,000 can be requested over the phone at (800) 537-6442 or online here.
AUL Loans $5,000 or greater
Loans that are $5,000 or greater can be completed online here. Conversely, you can request a Loan Request form by emailing vaultsupport@altitudelife.com. Once complete, you can email back to VAULT Support and we will submit to AUL and track on your behalf, or you can email directly to AUL at policyservice@oneamerica.com.
PLEASE NOTE:
All forms must be signed BY HAND
If you live in a Community Property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin), you cannot complete the request online.
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 request the check be overnighted, but this will incur a fee. 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 an EFT Authorization for Direct Deposit form. A voided check or statement from the bank account you wish to use is also required.
If requesting your loan by phone, you can ask the agent what to do to set up EFT. If requesting online, you will have the option to set up EFT while submitting your loan request.
If requesting your loan via form or if you want to set up EFT ahead of time, you can email vaultsupport@altitudelife.com to request that form. Once complete (and be sure to sign by hand), you can email back VAULT Support to request a secure link so you can submit the completed form and voided check to us. We will then submit to AUL and track on your behalf. Alternatively, you can email AUL directly at policyservice@oneamerica.com. Your EFT information will be kept on file at AUL and can be used for future loans without resubmitting.
PLEASE NOTE:
You can set up EFT at any time, but if you are setting up EFT at the same time you are requesting a loan, please add the following information to the Additional Information section on the Loan Request Form: Please send funds via EFT to bank account ending ****XXXX. Both of the forms and the voided check should be submitted at the same time.
When will I receive my requested loan funds?
Normal processing time for a loan request is 5-7 business days.
How do I repay my loan?
There are three ways you can make a payment towards your AUL VAULT loan balance. Please note that AUL 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 - AUL 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 into the loan principal:
Pay by phone by calling AUL at (800) 537-6442. You will need your bank information readily available.
Pay online by going here. Click Policy Service Request and a pop-up window will open. Click Online Payment and fill in your information. Make sure that you select Loan Repayment as the payment type.
Pay by check making sure to include both your policy number and the way you’d like your funds applied (“Loan Repayment”) in the memo line. Mail the check to:
American United Life
ATTN: Policy Service
P.O. Box 6002
Indianapolis, IN 46206.
You can find Additional AUL Loan information on their website.
COMMON POLICY CHANGES
How do I change or update my beneficiaries?
You can change your beneficiaries online by going here. If you have additional questions, please email vaultsupport@altitudelife.com and we can help.
How do I change policy owners or add a co-owner?
You will need to fill out an AUL Policy Ownership Change Form to change policy owners or add a co-owner. Please email vaultsupport@altitudelife.com to request the form and additional instructions.
How do I change my address?
You can change your address online by going here or over the phone at (800) 537-6442. Please also be sure to let us know your updated address by emailing us at vaultsupport@altitudelife.com.
GENERAL PAYMENT INFORMATION
How do I make payments towards my VAULT?
There are three ways you can make a payment towards your AUL VAULT loan balance. Please note that AUL only accepts payments directly from your bank account (no credit cards):
Pay by phone by calling AUL at (800) 537-6442. You will need your bank information readily available.
Pay online by going here. Click Policy Service Request and a pop-up window will open. Click Online Payment and fill in your information. Make sure you select the correct payment type when submitting your payment. You can select to pay money towards your Base Premium, Paid Up Addition Rider, and/or Loan Repayment.
Pay by check making sure to include both your policy number and the way you’d like your funds applied (“Loan Repayment”) in the memo line. Mail the check to:
American United Life
ATTN: Policy Service
P.O. Box 6002
Indianapolis, IN 46206.
How do I get my payment history?
AUL will send a premium accounting or loan accounting history if requested by phone at (800) 537-6442 or email at policyservice@oneamerica.com. Please note they will send 5 years back or less.
PAID-UP ADDITIONS (PUA) INFORMATION
Do I have to pay my full PUA?
No. Paying your full PUA will ensure that your VAULT cash value grows as your illustration projected, however the required minimum in a given policy year is $120. As long as this minimum amount is paid annually, the PUA option will remain open to you in the future.
What is the maximum PUA contribution I can make in a given policy year?
AUL will need to run a maximum PUA calculation to give you the exact amount of PUA contributions that you are allowed to make in a given policy year. To find out this amount, please call AUL at (800) 537-6442 and ask them to run a maximum PUA calculation for you. Alternatively, you can email policyservice@oneamerica.com. Be sure to include your policy number in the subject line.
When can I put PUA funds into my VAULT?
You can contribute funds towards your PUA anytime during your policy year. Please note that if you miss paying PUA during any given policy year, and pay it after your policy anniversary, it will be applied to that next policy year.
How soon after I add PUA funds to my VAULT can I take a policy loan against those funds?
Once received, AUL has a mandatory 10 day hold on all new PUA funds before a policy loan can be processed. Previous PUA paid is still available.
OTHER
My lender is requesting a letter from the insurance company to verify where my loan funds came from. How do I get this?
Reach out to VAULT Support via email at vaultsupport@altitudelife.com as quickly as possible to secure this letter on your behalf. These requests can take up to 10 business days to process.
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 AUL ASAP to resolve this problem at (800) 537-6442. They will give you the option to refund the excess contribution amount in the form of a check. Alternatively, you may reach out to VAULT Support via email at vaultsupport@altitudelife.com and get further instructions.
LAFAYETTE LIFE
POLICY LOANS
How do I submit a policy loan request?
Lafayette Loans up to $50,000
Loans up to $50,000 can be requested online. Additionally, loans up to $5,000 can be requested by calling (800) 243-6631.
PLEASE NOTE: You can only request up to $50,000 online every rolling 30 days.
Lafayette Loans greater than $50,000
Loans that are greater than $50,000 require a completed Loan Request form. You can email vaultsupport@altitudelife.com to request that form. Once complete, email that back to VAULT Support and we will submit to Lafayette and track on your behalf, or you can email directly to Lafayette at icenter@llic.com.
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.
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 an EFT Authorization form. A voided check or statement from the bank account you wish to use is also required.
You can email vaultsupport@altitudelife.com to request that form. Once complete (be sure to sign by hand), you can email back to VAULT Support to request a secure link so you can submit the completed form and voided check to us. We will then submit to Lafayette and track on your behalf. Alternatively, you can email them directly at icenter@llic.com. Your EFT information will be kept on file at Lafayette and can be used for future loans without resubmitting.
PLEASE NOTE: You can set up EFT at any time, but if you are setting up EFT at the same time you are requesting a loan, please add the following information to Section 5, Specialty Instructions on the Loan Request Form: Please send funds via EFT to bank account ending ****XXXX. Both forms and the voided check should be submitted at the same time.
When will I receive my requested loan funds?
Normal processing time for a loan request is 5-7 business days, but can take up to 10 business days if they are inundated.
How do I repay my loan?
There are two ways you can make a payment towards your Lafayette VAULT loan balance. You are able to pay whatever amount you like and as often as you like towards your loan balance - Lafayette 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 into the loan principal:
Pay online by going here.
Pay by check making sure to include both your policy number and the way you’d like
your funds applied (“Loan Repayment”) in the memo line. Mail the check to:
Lafayette Life
P.O. Box 639701
Cincinnati, OH 45263-9701
COMMON POLICY CHANGES
How do I change or update my beneficiaries?
You can change your beneficiaries online. If you have additional questions, please email vaultsupport@altitudelife.com and we can help.
How do I change policy owners or add a co-owner?
You will need to fill out a specific form to change policy owners or add a co-owner. Please email vaultsupport@altitudelife.com to request the form and additional
How do I change my address?
You can change your address online or over the phone at (800) 243-6631. Please also be sure to let us know your updated address by emailing us at vaultsupport@altitudelife.com.
GENERAL PAYMENT INFORMATION
How do I make payments towards my VAULT?
There are two ways you can make a payment towards your Lafayette Life VAULT. Please
note that Lafayette only accepts payments directly from your bank account
(no credit cards):
Pay by phone making sure to 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:
Lafayette Life
P.O. Box 639701
Cincinnati, OH 45263-9701
Pay online by going here.
Pay via automatic monthly drafts. Lafayette will only set up automatic monthly drafts from a banking institution by filling out a Pre Authorized Withdrawal form (PAW). These must be monthly installments and can be applied to premium, loan repayments, PUA, etc. Please email vaultsupport@altitudelife.com for more details if interested in this option.
How do I get my payment history?
You can call Lafayette at (800) 243-6631 or email icenter@llic.com to request your payment history. Be sure to include your policy number in the subject line and let them know how far back you would like that payment history to go.
PLEASE NOTE: You can find a 6-month running payment history in your online portal.
PAID-UP ADDITIONS (PUA) INFORMATION
Do I have to pay my full PUA?
No. Paying your full PUA will ensure that your VAULT cash value grows as projected, however the required minimum needed to go towards your PUA in a given policy year is only $120. As long as this minimum amount is paid annually, the PUA option will remain open to you in the future.
PLEASE NOTE: The first policy year, you must pay a minimum of $500 to keep the PUA rider active.
What is the maximum PUA contribution I can make in a given policy year?
You can find your maximum PUA contribution on your annual statement. If you would like to find out your full PUA contribution or remaining year value that you can deposit into your policy throughout the policy year, please call Lafayette at (800) 243-6631 or email icenter@llic.com to request the remaining amount. Be sure to include your policy number in this subject line.
When can I put PUA funds into my VAULT?
You can contribute funds towards your PUA anytime during your policy year. Payments made after your anniversary date will count towards the following policy year.
PLEASE NOTE: If you are in the first year of your policy and are contributing a dump in amount (SPUA), you can only do so within the first 90 days of the policy issue.
OTHER
My lender is requesting a letter from the insurance company to verify where my loan funds came from. How do I get this?
You can email Lafayette at icenter@llic.com to place the request. Please be specific about what the lender is looking for in this letter so they provide everything your lender needs to see. Be sure to include your policy number in the subject line. A lender letter request can take up to 10 business days to complete, so if you need to expedite the process, it’s best to call Lafayette at (800) 243-6631 to place your request. Be sure to let them know it needs to be expedited.
Alternatively, you can reach out to VAULT Support via email at vaultsupport@altitudelife.com to secure this letter on your behalf.
I’ve received a refund from Lafayette Life because my policy was going to become a Modified Endowment Contract (MEC). Do I need to do anything?
Parameters placed by Lafayette Life ensure that reaching MEC status will not occur without the permission of the policy owner.
Any excess payment above the maximum PUA limit will be returned to you unless otherwise noted. The excess can be applied to any loan balance, or base premium if needed with the policy owner’s consent by calling Lafayette at (800) 243-6631. If you funded the policy via pre-authorized payment, Lafayette will turn off monthly payments to prevent further overpayment. Please reach out to us via email at vaultsupport@altitudelife.com for any assistance.
PLEASE NOTE: If you receive a letter from Lafayette stating that your policy has reached MEC status, please do not sign and return the letter. If you do, Lafayette will proceed with putting your policy into MEC status.
MassMutual
POLICY LOANS
How do I submit a policy loan request?
MassMutual Loans up to $100,000
Loans up to $100,000 can be requested online through your MassMutual account or over the phone by calling (800) 272-2216.
MassMutual Loans over $100,000
Loans over $100,000 require a completed Loan Request form (RF 2066). You can email vaultsupport@altitudelife.com to request that form or find it in your portal. Once complete, you can email it back to VAULT Support and we will submit to MassMutual and track on your behalf.
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. Here is how to set that up when you request your loan:
If you are requesting your loan online, you will have the option to set up EFT at that time
If you are requesting your loan via phone, ask the agent what to do to set up EFT at that time
If you are requesting your loan using the Loan Request form, please submit the completed EFT Deposit form (FR2130) and voided check or statement alongside your Loan Request form EACH TIME you request a loan. You can email vaultsupport@altitudelife.com to request that form. If submitting these forms to VAULT Support, please email first to request a secure link. We will then submit to MassMutual and track on your behalf.
When will I receive my requested loan funds?
Loan requests are processed the same day (as long as it’s submitted before 4pm ET). Funds are released / check is mailed out the following business day.
How do I repay my loan?
There are three ways you can make a payment towards your MassMutual VAULT loan balance. Please note that Mass 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 - Mass 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 into the loan principal:
Pay by phone by calling MassMutual at (800) 272-2216. You will need to provide your policy number.
Pay online by going here. You can use the MassMutual website with epay, either as a one-time payment without a real login or you can use your existing username and password at the above website.
Pay by check making sure to include both your policy number and the way you’d like your funds applied (“Loan Repayment”) in the memo line. Mail the check to:
MassMutual
P.O. Box 371368
Pittsburgh, PA 15250-7368
COMMON POLICY CHANGES
How do I change or update my beneficiaries?
You can change your beneficiary by contacting MassMutual at (800) 272-2216. If you have additional questions, please email vaultsupport@altitudelife.com and we can help.
How do I change policy owners or add a co-owner?
You will need to fill out a Mass Beneficiary or Owner Change Form to change policy owners or add a co-owner. Please email vaultsupport@altitudelife.com to request the form and additional instructions
How do I change my address?
You can change your address online or by calling MassMutual at (800) 272-2216. Please also be sure to let us know your updated address by emailing us at vaultsupport@altitudelife.com.
GENERAL PAYMENT INFORMATION
How do I make payments towards my VAULT?
There are three ways you can make a payment towards your MassMutual VAULT. If you are paying your PUA (what Mass calls ALIR or PALIR depending on your particular policy), we highly recommend paying via phone or check. Please note that Mass only accepts payments directly from your bank account (no credit cards):
Pay by phone by calling MassMutual at (800) 272-2216. You will need to provide your policy number.
Pay by check making sure to include both your policy number and the way you’d like your funds applied (“Base Premium”, "ALIR", “PALIR”, and/or “Loan Repayment”) in the memo line. Mail the check to:
MassMutual
P.O. Box 371368
Pittsburgh, PA 15250-7368
Pay online by going here. You can use the MassMutual website with epay, either as a one-time payment without a real login or you can use your existing username and password at the above website.
PLEASE NOTE: If you are looking to pay your ALIR/PALIR online, you must pay in the Guest One-Time Payment portal. We do NOT recommend paying PALIR online as you cannot denote what the funds are meant for and their payment team often applies them incorrectly
How do I get my payment history?
You can see your payment history by going to your online portal. That info can be found under Billing Payments>see Financial History.
PAID-UP ADDITIONS (PUA) INFORMATION
Do I have to pay my full PUA (ALIR/PALIR)?
This will vary depending on the type of MassMutual policy you have. Paying your PUA in full, which MassMutual calls ALIR or PALIR depending on your policy, will ensure that your VAULT cash value grows as projected. However, the required minimum needed to go towards your PUA in a given policy year can be less.
If you are wondering specifically about the ALIR rider, call MassMutual at (800) 272-2216 to find out this information for your specific policy. Alternatively, you may reach out to VAULT Support via email at vaultsupport@altitudelife.com for assistance.
If it is the PALIR rider that you are inquiring about, there is a minimum year 1 payment of $300. There is no minimum payment in subsequent years, however the lowest payment paid in any two rolling years resets to become your new maximum allowable PALIR. As an example, if your PALIR started out as $10,000 maximum and in year 3 you paid $0 and in year 4 you paid $4000, your new maximum will become $4000 and cannot be raised without additional underwriting. If you do not pay 2 consecutive years at any time, your PALIR maximum becomes $0 and is no longer available to be paid towards.
What is the maximum PUA (ALIR/PALIR) contribution I can make in a given policy year?
MassMutual will need to run a maximum PUA calculation to give you the exact amount of PUA contributions that you are allowed to make in a given policy year. To find out this amount, please call MassMutual at (800) 272-2216 and ask them to run that calculation for you.
PLEASE NOTE: They do not call it PUA, but rather ALIR and/or PALIR. If you have additional questions, please email vaultsupport@altitudelife.com and we can help.
When can I put PUA (ALIR/PALIR) funds into my VAULT?
MassMutual policies vary with regards to paying PUA funds, but generally you are able to pay throughout the policy year. Please contact MassMutual at (800) 272-2216 or VAULT Support at vaultsupport@altitudelife.com for further guidance.
PLEASE NOTE: You can only make a maximum of 3 PALIR payments per policy year.
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 you right click on the main policy page, select Print, (or you can print as PDF instead of to a printer) then you will have the document or PDF you need.
If your lender is looking for something more, please reach out to VAULT Support at vaultsupport@altitudelife.com as quickly as possible and we will secure what you need. These requests can take up to 10 business days to process.
I’ve received a letter from the insurance company regarding paying more towards my LISR rider than I am currently paying. What is this?
You’ve received this letter because you are nearing your 1st anniversary and MassMutual is offering you the OPTIONAL opportunity to pay more towards your LISR rider if you choose. While most will opt not to make a change in pay, which is fine, we have recorded a video to explain in detail what this means and your options. If you choose to make a change, please email vaultsupport@altitudelife.com for instructions.
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 (ALIR/PALIR). You should call MassMutual ASAP to resolve this problem at (800) 272-2216. Alternatively, you may reach out to VAULT Support via email at vaultsupport@altitudelife.com and get further instructions.
Penn Mutual
POLICY LOANS
How do I submit a policy loan request?
Penn Mutual Loans under $50,000
Loans under $50,000 can be requested over the phone at (800) 523-0650. You will need to have your policy number.
Penn Mutual Loans $50,000 or greater
Loans that are $50,000 or greater require a completed Loan Request form. You can email vaultsupport@altitudelife.com to request that form or find it here. Once complete, you can email it back to VAULT Support and we will submit to Penn Mutual and track on your behalf.
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 submit a voided check or statement from the bank account you wish to use.
If you are requesting your loan via phone (less than $50,000), ask the agent what to do to set up EFT at that time.
If you are requesting your loan using the Loan Request form ($50,000 plus), please submit a voided check or statement alongside your form, and make sure to check this box in Section 5 of the Loan Request form: I elect to have the funds sent via Electronic Funds Transfer
If submitting to VAULT Support, please email and request a secure link so you can submit the voided check to us. We will then submit to Penn Mutual and track on your behalf.
Once submitted, your EFT information will be kept on file at Penn and can be used for future loans without resubmitting.
PLEASE NOTE: If you are on the Penn Check program for automatic monthly drafts, your loan funds should be able to go to that already established bank account without requiring a new voided check/bank statement to be turned in.
When will I receive my requested loan funds?
Normal processing time for a loan request is 5-7 business days.
How do I repay my loan?
There are three ways you can make a payment towards your Penn Mutual VAULT loan balance. Please note that Penn 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 - Penn 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 Penn at (800)523-0650. 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.
Pay by check making sure to include both your policy number and the way you’d like your funds applied (“Loan Repayment”) in the memo line. Mail the check to:
Penn Mutual Payment Processing Center
P.O. BOX 7460
Philadelphia, PA 19101
COMMON POLICY CHANGES
How do I change or update my beneficiaries?
You need to fill out a Penn Mutual Beneficiary Designation Form to change your beneficiaries. Please email vaultsupport@altitudelife.com 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 Penn Mutual Owner Designation Form to change policy owners or add a co-owner. Please email vaultsupport@altitudelife.com to request the form and additional instructions
How do I change my address?
You can change your address over the phone at (800) 523-0650. Please also be sure to let us know your updated address by emailing us at vaultsupport@altitudelife.com.
GENERAL PAYMENT INFORMATION
How do I make payments towards my VAULT?
There are three ways you can make a payment towards your Penn Mutual VAULT. Please note that Penn only accepts payments directly from your bank account (no credit cards):
Pay by phone by calling Penn at (800)523-0650. You will need your bank information readily available.
Pay online by going here. 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.
PLEASE NOTE: Clients on the PennCheck Program (monthly bank drafts) will not have the option to make any other payments online. You can include PUA\ premiums as part of your monthly PennCheck payment if desired..
Pay by check making sure to 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:
Penn Mutual Payment Processing Center
P.O. BOX 7460
Philadelphia, PA 19101
How do I get my payment history?
Your payment history can be accessed online by logging in and going to Recent Transactions, and clicking the Eye icon to expand the menu.
PAID-UP ADDITIONS (PUA) INFORMATION
Do I have to pay my full PUA?
Penn Mutual calls the maximum amount that you can pay into your PUA each year your Annual Payment Limit (APL). To keep the PUA rider open on your policy, Penn Mutual requires you to pay 50% of the APL over a rolling 5 year period as a minimum. This is a combined number so you don't have to hit that each year, but cumulatively. It is also important to note that this is a rolling 5 years, meaning they will always look at the previous 5 years to see if you have met that requirement.
You can see your APL and PUA Rider Payment Requirement online by logging in and going to Riders and Benefits, and clicking the Eye icon to expand the menu. Note that these numbers do not reflect real time values and will update once per month on your monthiversary.
What is the maximum PUA contribution I can make in a given policy year?
You can see the maximum PUA contribution (APL) online at by logging in and going to Riders and Benefits, and clicking the Eye icon.
Note that these numbers do not reflect real time values and will update once per month on your monthiversary. If you have made any recent payments towards your PUA and are not sure if these have been reflected on your online account, please reach out to VAULT Support for assistance at vaultsupport@altitudelife.com.
When can I put PUA funds into my VAULT?
You can contribute funds towards your PUA anytime during your policy year up until 30 days before your anniversary date for it to count towards that policy year. For example, if your VAULT anniversary date is April 1st, you can only contribute PUA funds towards your VAULT until March 1st to count towards that same policy year. Any PUA paid after March 1st would be applied to the next policy year.
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. You can click Print Summary in the top right corner to get that printout.
If your lender is requesting additional information, reach out to VAULT Support for assistance at vaultsupport@altitudelife.com.
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 Penn Mutual ASAP to resolve this problem at (800) 523-0650. 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 VAULT Support at vaultsupport@altitudelife.com for further instructions.
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