“The Penn Mutual Life Insurance Company is pleased to introduce the Smart Foundation Variable Annuities and optional benefits, which offer consumers a place to grow their retirement assets and protect their retirement income in a way that satisfies their individual needs,” said
1) The Smart Foundation Variable Annuity, a traditional variable annuity, is the most basic of the three product options and well suited for consumers who are beginning to fund retirement and may not require immediate access to cash value. This choice may also make sense for small business owners who are poised to make frequent smaller deposits into a retirement plan.
2) The Smart Foundation Flex Variable Annuity is designed for consumers nearing retirement who may need their income in the near future.
3) The Smart Foundation Plus Variable Annuity aims to kick-start retirement savings and provide greater accumulation potential over a longer period by providing a purchase payment enhancement on all deposits made into the contract. This annuity may be useful for consumers planning to roll over larger accounts or consolidate multiple accounts.
The optional benefits that may be paired with these annuities enable customization to best fit the consumer’s income needs, risk tolerance and death benefit/protection needs. They include:
• The Guaranteed Growth and Income Benefit offers guaranteed growth of 8% of net deposits applied to the withdrawal benefit base during the deferral phase of the contract and guaranteed annual lifetime income when withdrawals begin ranging from 4-6%, of the withdrawal benefit base which is available as early as age 55.
• The Guaranteed Minimum Accumulation Benefit guarantees the return of purchase payments made during the first year of the benefit period after 10 years and is ideal for clients that are concerned with market volatility and losing their deposit.
• The Enhanced Death Benefit provides added death benefit protection where heirs will receive the greater of the Standard Death Benefit or the highest anniversary account value.
Penn Mutual offers a wide array of quality investment choices with the Smart Foundation Variable Annuities, which are managed by some of the most experienced and highly regarded investment firms in the industry. These options can be used in a customized portfolio, or clients can select a
Since 1847, Penn Mutual has been driven by our noble purpose to create a world of possibilities. At the heart of this purpose is the belief that life insurance is the most protective, responsible and rewarding action a person can take, and is central to a sound financial plan. The company is committed to helping families unlock life’s possibilities through life insurance and annuity solutions. This is accomplished through a national network of financial professionals, who help clients make great things possible. Penn Mutual supports its field representatives with brokerage services through
For more information about the Smart Foundation Variable Annuities, please visit http://www.pennmutual.com.
Investors should consider the investment objectives, risks, charges, and expenses of a variable insurance product carefully before investing. Please carefully read the prospectuses for the relevant variable insurance product and its underlying investment options, which contain this and other information about the product. You can obtain a prospectus from your financial professional or go to http://www.pennmutual.com.
Penn Mutual’s Variable products are principally offered through
This announcement is not meant as a solicitation in the state of GA or any state where the product is not available.
Product and features may not be available in all states. Policy form number: ICC11-VA-C (Policy form numbers vary by state.)
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