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Section: Smart Foundation Variable Annuity

Smart Foundation Variable Annuity

Smart Foundation Variable Annuity Basics

Whether you are just starting to fund a retirement plan or transferring funds from an existing retirement account, your retirement goals and concerns are as unique as you are. A Smart Foundation Variable Annuity can help provide a tax-deferred way to save for retirement. And Smart Foundation's optional benefits allow you to enjoy competitive withdrawal rates, flexible account access and protection for your loved ones.

There are four optional benefits you can choose to tailor your variable annuity to provide a safety net and minimize risk, including:

  • Guaranteed Growth and Income Benefit provides guaranteed growth on a withdrawal benefit base in the deferral phase and guaranteed lifetime income in the withdrawal phase
  • Inflation Protector Withdrawal Benefit provides growth by allowing you to stay invested in the market, while protecting your income from market volatility and inflation
  • Guaranteed Minimum Accumulation Benefit guarantees the return of your first year’s deposits after 10 years
  • Enhanced Death Benefit provides additional death benefit protection

A variable annuity is a long-term financial retirement vehicle, subject to market fluctuations and may lose value. Optional benefits can complement your variable annuity.  Please note that these benefits are optional, carry additional cost, and are available only through the purchase of an eligible variable annuity product. All guarantees are based upon the claim-paying ability of the issuer. 

Withdrawals will reduce the death benefit amount, may be subject to income taxes and surrender charges; and, when taken before age 591/2, may be subject to an additional 10 percent federal penalty tax.

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. 

Contact a Penn Mutual Adviser who can help you determine your needs and choose the right products for you. All information will remain strictly confidential.

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