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Section: Immediate Annuities

Immediate Annuities

Single Premium Immediate Annuity Basics

Penn Mutual's Single Premium Immediate Annuity allows you to turn a fixed asset into a regular source of income. You make one premium payment and, in return, receive a fixed, guaranteed income.

The Single Premium Immediate Annuity (SPIA) may be paid out either as a Fixed Period Annuity (annuity certain) where income is paid over a specified period of time or a Life Annuity where income is guaranteed over your entire lifetime regardless of how long you live.

All guarantees are based upon the claim-paying ability of the issuer.

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