Fixed index annuity review and rates
Premier Foundation Flex
A Premier Foundation Flex Indexed Annuity is a financial vehicle that can be a key part of a well-designed retirement strategy, providing a guaranteed stream of income that will last your entire lifetime. It may be a great fit for your retirement plan — especially if you’ll need to access or move your funds in the near future.
Available in states:
AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 5-Year Fixed Account |
Fixed
|
3.7%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
7.6%
Cap
|
| 1-Year S&P Global Broad Market PTP Cap |
Point to Point
Annual
|
7.2%
Cap
|
| 5-Year Fixed Account |
Fixed
|
3.9%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8.1%
Cap
|
| 1-Year S&P Global Broad Market PTP Cap |
Point to Point
Annual
|
7.7%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 8% | 8% | 7% | 6% | 5% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Guaranteed Growth Withdrawal Benefit Rider | No | 0.90% annually (2.00% max) |
| Inflation Security Withdrawal Benefit Rider | No | 1.05% annually (2.50% max) |
Penn Mutual Life Insurance Company
Founded:
1847
A.M. Best:
A+
Fitch:
AA-
S&P:
A+
Moody's:
Aa3
Brochure
Free withdrawal
1st year: 0%
2nd+ year: 10%
2nd+ year: 10%
Surrender schedule
5 years
Return of premium
Market value adjustment
Minimum contribution
$25,000
Types of funds
Non-Qualified, IRA, IRA-Roth, Stretch IRA, and NQ Stretch