This combined variable annuity and living benefit vehicle provides an income base that increases with the greater of changes in the Consumer Price Index (CPI-U) or market performance annually in both the deferral and withdrawal phases.
Horsham, PA (Vocus) November 9, 2010
The Penn Mutual Life Insurance Company, a more than 163-year-old company, and leader in the inflation-protected retirement income market, is pleased to introduce the next generation of inflation protection, the Inflation Protector Variable Annuity. This product is designed to help clients achieve retirement goals by allowing them to stay invested in the market while protecting their income from market volatility and inflation.
This combined variable annuity and living benefit vehicle provides an income base that increases with the greater of changes in the Consumer Price Index (CPI-U) or market performance annually in both the deferral and withdrawal phases. A variable annuity is a long-term financial retirement vehicle, subject to market fluctuations and may lose value, and is subject to certain fees and expenses, which are not normally associated with other investment vehicles.
The product also provides clients with flexible access to their money, without triggering the start of living benefit income. Additionally, it features two withdrawal options, guaranteeing income for up to 20 years, or for a lifetime. Withdrawal percentages can be as high as 6% depending on the age of the annuitant and how long the contract has been in force at the time of the first living benefit withdrawal. Both Single Life and Joint Life Guarantees are available with this product. Early withdrawals may result in tax penalties and the payment of contingent deferred sales charges. All guarantees are based upon the claim-paying ability of the issuer.
“The Inflation Protector Variable Annuity provides an opportunity for clients to purchase a variable annuity in what has been a very volatile market,” says Ray Caucci, Vice President, Product Management. “Features unique to this product are its adjustment for inflation in both the accumulation and withdrawal phases and allowance for early access withdrawals for emergencies while maintaining the ability to receive lifetime withdrawals.”
Penn Mutual offers a variety of investment options within the Inflation Protector Variable Annuity. These options can be used in a customized portfolio, or clients can select a LifeStyle Asset Allocation Fund which is a complete and broadly diversified portfolio of investment options designed for varying risk tolerances. A diversified portfolio does not assure against market loss.
Inflation Protector Variable Annuity 2/2
About The Penn Mutual Life Insurance Company
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 Hornor, Townsend & Kent, Inc., Registered Investment Advisor and wholly owned subsidiary. Member FINRA/SIPC. Visit Penn Mutual on the Internet at http://www.pennmutual.com/.
For more information about Penn Mutual’s Inflation Protector Variable Annuity, 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 Hornor, Townsend & Kent, Inc., (HTK), Registered Investment Advisor, Member FINRA/SIPC, HTK is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
This announcement is not meant as a solicitation in the state of Georgia or any state where the product is not available.
Product and features may not be available in all states. Policy form numbers are ICC10-LVA, ICC10-GMWB. (Policy form numbers vary by state.)
2010 The Penn Mutual Life Insurance Company, 600 Dresher Road, Horsham, PA 19044
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