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Annuities are investment options designed to grow funds and then provide a stream of payments to the investor at a later time. They are the protect and spend portion of a financial plan and are commonly used as a way to secure a steady cash flow for retirement.
Penn Mutual offers a number of options that can be structured in ways that suit your specific needs:
Immediate annuities are purchased with a single payment, and immediately provide an income stream. The income stream is determined by the amount of initial payment, the length of time that the payout will continue, and the number of lives being covered.
Fixed Annuities are a simple, low-risk retirement planning vehicle that helps you protect your principal and allow your investment to grow over time. Your retirement savings are credited with interest at a rate guaranteed never to fall below a stated rate. Your savings can receive credited interest until you decide to receive a stream of payments.
Variable annuities offer a wide array of investment options that allow you to customize your investment strategy to meet your needs and risk tolerance. Variable annuities also provide protection options to safeguard against inflation and market volatility. A variable annuity is a long-term financial retirement vehicle that offers the greatest growth potential but is subject to market fluctuations and may lose value.
All Guarantees are based on the claim paying ability of the issuer.
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.