Penn Mutual’s variable life and annuity products provide a broad range of investment options, so clients can make choices based on their needs and goals. Learn more about the team committed to providing you and your clients with outstanding sales support and service. About Your Quote; Your quote is guaranteed for 7 to 14 days; It's ready for purchase, all you have to do is call 800-872-6684 to request an application; You can extend your quote for up to 60 days if you are transferring savings from an IRA or 401k. Annuity Beneficiary Designation Form The Penn Mutual Life Insurance Company, Philadelphia, PA 19172 Instructions • Please use this form to change your primary or contingent beneficiary designation on your Penn Mutual Annuity contract. Penn Mutual also offers several financial planning tools for retirement. With a diverse portfolio of competitive insurance products varying from Whole Life, Universal Life, Indexed Universal Life to Annuities, Penn Mutual offers a wide range of options for your protection and accumulation needs. You can renew it for another year or a longer period, begin taking pension-like income payments or take a full or partial withdrawal of the contract value without facing surrender charges.Â, There are no annual contract fees associated with the Guaranteed Foundation Fixed Annuity. But even if the index underperforms one year, you won’t lose money. As of 2019, it had 3,140 employees, $3.7 billion in revenue, and $36.7 billion in assets. For instance, the company can provide you with inflation protection. Penn Mutual offers a variety of annuities for all types of investors. Your beneficiary can also opt in to continue the contract under current terms. It helps you determine an effective portfolio mix based on your risk tolerance.Â. Because annuities can be as complicated as they may be effective in helping you reach a comfortable retirement, you should know as much as you can about any annuity product before signing a contract. The changes help clients increase their accumulation potential and manage their risk better at the same time that they help secure retirement savings during changing economic conditions. The values of the underlying variable investment options are not guaranteed and are subject to market fluctuations and may lose value. Today, it remains financially stable. Commitment to Policyholders However, Penn Mutual would charge a withdrawal fee if you access more than 10% of your account value. That means that if the index beats the rate cap, you’d get the rate cap as interest. Penn Mutual also offers an optional rider that protects your savings in the face of rising inflation. The return on your Premier Foundation Indexed Annuity depends on the performance of the index you’re tracking. We maintain a competitive, balanced and stable portfolio of life insurance and annuity products to help ensure we can make an enduring impact on your clients’ lives. Planning and Investment Opportunities Founded in 1847, Penn Mutual sells life insurance through its national network of financial advisors and does not provide quotes online. The interactive version of this map is only available on Desktop devices.
, Bank of America® Travel Rewards Visa® Credit Card Review, Capital One® Quicksilver® Cash Rewards Credit Card Review, discuss your options with a financial advisor, Penn Mutual Guaranteed Foundation Fixed Annuity, Penn Mutual Smart Foundation Variable Annuities, Penn Mutual Premier Foundation Indexed Annuities, Penn Mutual A Penn Mutual Single Premium Immediate Annuity*. The minimum initial premium for this annuity is $10,000 and the maximum is $2 million. With this type of annuity, your account earns interest that can span from 1% to 3%. When you want to take payments, you have the payout following options: There are no annual contract fees linked to Penn Mutual’s immediate annuity. Read More. This ensures you don’t lose gains from previous years. You can fund it with existing retirement savings in order to get a steady stream of income for life. Standard & Poor’s gave it an A+ and Moody's ranked it an Aa3, which is considered excellent. Guaranteed Withdrawal Benefit: Ensures the amount used to calculate what you’d get in retirement keeps growing until you begin taking withdrawals. Some assets such as life insurance, annuities, qualified plans and IRAs pass by contract to a beneficiary chosen (or not chosen) by the contract owner, and not via an estate plan (e.g., will or trust). © {{$root.carrierName || "The Penn Mutual Life Insurance Company"}}, Philadelphia, PA 19172 Learn about and compare the Pennant Select Variable Annuity from Penn Mutual in the free Annuity Digest product database. Our annuity solutions provide guaranteed income for families and businesses while offering potential for portfolio growth through a range of quality investment options. Representing an expanded footprint to include the former Penn Mutual North Central and Texas regions. If you’re in retirement or very close to it, you may be interested in a Single Premium Immediate Annuity. Today, it remains financially stable. So if you’ve amassed a sizable nest egg but you’re concerned that market volatility could erode your savings, this product may be right for you. Our policyholders can count on us for life. Adviser's Certification and Signatures - … And your account gets the full benefit of compound interest. Also, scroll over any This account allows you to invest in a variety of equity funds that offer exposure to several asset classes and industry sectors. Because you’ll be invested in various funds through this variable annuity, your account may incur various fees. SmartAsset analyzed data to find the best places for small business owners in the country. Smart Foundation Variable Annuitie funds have expense ratios that generally range from 0.40% to 1.65%. Penn Mutual Wealth Strategies is independent of HTK. You may withdraw up to 10% of your account’s value without incurring a withdrawal fee from Penn Mutual. This means you won’t pay taxes on your earnings until you withdraw your money in retirement. About Penn Mutual. Dedication to Diversity and Racial Equality, Opportunities for Financial Professionals, Penn Series Money Market Fund Monthly Info. A Single Premium Immediate Annuity, or SPIA, from Penn Mutual can deliver protection and peace of mind by providing income even if you live beyond normal life expectancy. My husband was sold a " universal" life insurance policy in 1982, replacing the policy he had. Still, the company imposes rate caps. A.M. Best gave it an A+, which is considered superior. That rate climbs higher than it does for even the best savings accounts. Some assets such as life insurance, annuities, qualified plans and IRAs pass by contract to a beneficiary chosen (or not chosen) by the contract owner, and not via an estate plan (e.g., will or trust). ... Penn Mutual’s award-winning Accelerated Client Experience (ACE) continues to set the pace for the life insurance industry. Periodic income payments over a certain number of years, Income payments for single or joint owners. Penn Mutual Insurance Company describes the Premier annuity as a type of retirement plan that includes the following benefits: Strong retirement savings growth potential Protection from loss in a down market Guaranteed income throughout retirement ... Penn Mutual’s award-winning Accelerated Client Experience (ACE) continues to set the pace for the life insurance industry. Annuities generally provide you with more income options than those offered through mutual funds. 1035 Exchange/Transfer Request Form - Annuity - PM8297ANN. Penn Mutual offers a variety of annuities for all types of investors. And during the last 30 days of each guarantee period, you have a few options regarding what happens to your contract. you can expand your client offerings to include full-service brokerage and investment solutions. Our annuity solutions provide guaranteed income for families and businesses while offering potential for portfolio growth through a range of quality investment options. In either case, your earnings grow tax deferred. If a withdrawal is made prior to age 59½, a 10% federal income tax penalty may apply (unless an exception applies). And you can begin taking payments immediately or defer them for up to a year. We provide the current withdraw fee schedules below:Â, In addition, the IRS will levy a 10% penalty tax if you take your money out before reaching age 59.5.Â, Penn Mutual does not publish its withdrawal schedule for the Guaranteed Foundation Fixed Annuity, so it’s best to carefully discuss this with an agent.Â. Funds available through the Smart Foundation Variable Annuitie funds have expense ratios that generally range from 0.40% to 1.65%. This rider provides your beneficiary with the greater of premiums paid or account value. You have the options to take these monthly, quarterly or annually. It connects you with up to three local advisors based on your preferences.Â, If you want to stay involved in the market to grow your retirement savings, take a look at our asset-allocation calculator. Penn Mutual is a privately owned mutual company, which means they are owned by their policyholders. But even if the index dips to the negative, you won’t lose money due to the protections provided by Penn Mutual. The company has been around since the 1800s. Website. There are no annual contract fees linked to the Penn Mutual indexed annuity. -. 1035 Exchange Disclosure Statement - Annuity - PM8297A-ANN. For additional costs, you can add the following benefit riders. Penn Mutual Life Insurance Company was founded in 1847 and is based in Pennsylvania. Each year, their customers receive income in the form of dividends. The return on your immediate annuity depends largely on the amount you initially invest as well as your payout option. Penn Mutual is a leading dividend paying whole life insurance company that was founded in 1847. Most annuities have surrender fees that are usually highest if you take out the money in the initial years of the annuity contact. • If the annuity contract is owned by a non-natural entity, the beneficiary change cannot be executed. We now serve TX, OK, AR, MO, IA, NE, KS & CO. You’d also face any transaction fees associated with your account. For instance, every fund has an expense ratio or management expenses. We’re a mutual company helping you do more with life. Aside from life insurance, Penn Mutual also sells some financial products and protection for small businesses, including annuities (fixed, immediate, and variable). Your options include a fixed annuity with a guaranteed minimum interest rate and a variable annuity in which your account is tied to the performance of professionally managed investment funds. However, you may face withdrawal charges based on the following schedule. Penn Mutual doesn't publish its surrender charge schedule for this product. Some assets such as life insurance, annuities, qualified plans and IRAs pass by contract to a beneficiary chosen (or not chosen) by the contract owner, and not via an estate plan (e.g., will or trust). 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