Penn Mutual Introduces Guaranteed Minimum Accumulation Benefit Rider II – InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Life Insurance
    • Annuity News
    • Health/Employee Benefits
    • Property and Casualty
    • Advisor News
    • Washington Wire
    • Regulation News
    • Sponsored Content
    • Webinars
    • Monthly Focus
  • INN Exclusives
  • NewsWires
  • Magazine
  • Free Newsletters
Sign in or register to be an INNsider.
  • INN Exclusives
  • NewsWires
  • Magazine
  • Free Newsletters
  • Insider
  • About
  • Advertise
  • Editorial Staff
  • Contact
  • Newsletters

Get Social

  • Facebook
  • Twitter
  • LinkedIn
Annuity News
Newswires RSS Get our newsletter
Order Prints
November 17, 2021 Newswires No comments
Share
Share
Tweet
Email

Penn Mutual Introduces Guaranteed Minimum Accumulation Benefit Rider II

PR Newswire

HORSHAM, Pa., Nov. 17, 2021 /PRNewswire/ -- The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, recently introduced the Guaranteed Minimum Accumulation Benefit Rider II (GMAB II) as an optional benefit to its Smart Foundation Variable Annuity products. This new rider offers downside protection in a variable product and guarantees at shorter durations.


The Penn Mutual Life Insurance Company (PRNewsfoto/The Penn Mutual Life Insurance Co)

GMAB II protects against potential market loss by guaranteeing the minimum value of the annuity contract. It also provides flexibility in investment options with 29 diverse variable funds with no allocation restrictions. Contract owners can lock in market gains through an offering of multiple accumulation benefit periods. They can also reset or switch periods annually.

"The GMAB II Rider is one of the most client-friendly, flexible guaranteed minimum accumulation riders in the marketplace," said Heather Yonosh, vice president, product development and pricing. "The optional rider meets client needs through flexible options that can protect up to 100% of their initial premium payment and allow them to lock in growth at various durations."

About The Penn Mutual Life Insurance Company
Penn Mutual helps people become stronger. Our expertly crafted life insurance is vital to long-term financial health and strengthens people's ability to enjoy every day. Working with our trusted network of financial professionals, we take the long view, building customized solutions for individuals, their families, and their businesses. Penn Mutual supports its financial professionals with retirement and investment services through its wholly-owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at www.pennmutual.com.

©2021 The Penn Mutual Life Insurance Company, 600 Dresher Road, Horsham, PA 19044

Contact:
Jeff Leinen
Penn Mutual
215-956-8530
[email protected]

###

All guarantees are based on the claims-paying ability of the issuer.

Guarantees do not relate to the performance of the variable investment options. A variable annuity is a long-term financial retirement vehicle, subject to market fluctuations. It may lose value, including the potential loss of principal, and is subject to certain fees and expenses not normally associated with other investment vehicles. Withdrawals are subject to contract provisions and will reduce the contract value and the accumulation benefit base, the amount used to calculate withdrawal or income payments and death benefit amounts. Withdrawals may be subject to income taxes and surrender charges; and, when taken before age 59 ½, may be subject to an additional 10 percent penalty tax.

Clients should consult their trusted financial professionals before taking income or other withdrawals. If the annuity contract is held in a qualified account or plan, such as an IRA, the tax deferral feature provides no additional benefits beyond that provided by the qualified account or plan.

Product and/or features may not be available in all states. Policy form number: ICC11-VA-C. Rider form number: Guaranteed Minimum Accumulation Benefit ICC21-GMAB. Form numbers may vary by product and state. Optional riders carry additional cost and may not be available in certain combinations.

Penn Mutual's variable products are primarily offered through Hornor, Townsend & Kent, LLC (HTK), Registered Investment Adviser, Member FINRA/ SIPC, 600 Dresher Road, Horsham, PA 19044, 800-873-7637. HTK is a wholly-owned subsidiary of The Penn Mutual Life Insurance Company.

Investors should carefully consider funds' objectives, risks, charges and fees before investing. This information, as well as other information, is contained in the product and underlying funds' prospectuses, which should be read carefully before investing.

3893049CC_OCT23
3893439TA_NOV23

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/the-penn-mutual-life-insurance-company-introduces-new-guaranteed-minimum-accumulation-benefit-rider-ii-301426039.html

SOURCE The Penn Mutual Life Insurance Company

Older

Comer: Congress Must Review PBMs' Role in Rising Prescription Drug Prices

Newer

Milliman's Arius introduces new API capabilities, streamlined diagnostic tools with latest reserving software release

Advisor News

  • Retirement Savers Remain Confident Despite Short-Term Woes
  • City of Memphis Helps Employees With Financial Wellness Programs
  • IRI CEO: ‘I Am Optimistic for Our Industry’s Future’
  • 2/3 Of Near-Retirees Failed Or Barely Passed A Basic Social Security Quiz
  • Crypto As National Currency? Maybe Not A Good Idea
More Advisor News

Annuity News

  • LibertyMark Freedom Fixed Indexed Annuities Launch
  • Nationwide Adds BNP Paribas Global H-Factor Index To FIA
  • Transamerica Launches Structured Index Advantage Annuity
  • Recommending FIAs: Start With The Client’s Objective
  • NC Man Wins First $5 Million Prize In Scratch-Off Game
Sponsor
More Annuity News

Health/Employee Benefits News

  • EBRI Studies Expanding Pre-Deductible Coverage For Chronic Conditions
  • Most Consumers Choose To Pay Higher LTCi Premiums
  • CMS Creates More User-Friendly Medicare Website
  • Integrity Marketing Group Buys Ritter Insurance Marketing
  • Maine Powerless In Big Fight Between Its Largest Insurer And Hospital
More Health/Employee Benefits News

Life Insurance

  • The 5 Secrets To Retaining Financial Sales Professionals
  • Life Insurance Activity Continues Dip In April But Still Stronger Than 2021, MIB Reports
  • Transamerica Adds Execs To Annuity And Life Insurance Team
  • Northwestern Mutual Invests $5M In Black-Led Financial Institutions
  • Protective Life Closes On AUL Acquisition
More Life Insurance

- Presented By -

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

FEATURED OFFERS

Get Linked INN to your industry Connect with INN on LinkedIn to be first on all the news and insights that matter to your industry.

Press ReleasesAll press releases

  • OneAmerica Commits $1 Million Toward Financial Literacy
  • Transamerica Structured Index Advantage Annuity Offers Investors More Certainty with Upside Growth and Downside Protection
  • Senior Market Sales Creates First-of-Its-Kind Lead Acquisition Platform
  • Growing financial services firm Kuvare opens Des Moines office in East Village, continuing expansion in Iowa
  • BetterLife Selects iPipeline® to Digitally Transform Its Business & Better Serve Future Generations
Add your Press Release >

Topics

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property and Casualty
  • Advisor News
  • Washington Wire
  • Regulation News
  • Sponsored Content
  • Webinars
  • Monthly Focus

Top Sections

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits News
  • Property and Casualty News
  • AdvisorNews
  • Washington Wire
  • Insurance Webinars

Our Company

  • About
  • Editorial Staff
  • Magazine
  • Write for INN
  • Advertise
  • Contact

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2022 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • Sitemap
  • AdvisorNews

Sign in with your INNsider Account

Not registered? Become an INNsider.