Fixed index annuity review and rates

Premier Foundation Prime

A Premier Foundation Prime 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 won’t have a need to access or move your funds in the very 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
8-Year Fixed Account
Fixed
3.75% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
7.7% Cap
1-Year S&P Global Broad Market PTP Cap
Point to Point
Annual
7.3% Cap
8-Year Fixed Account
Fixed
3.95% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
8.2% Cap
1-Year S&P Global Broad Market PTP Cap
Point to Point
Annual
7.8% Cap

Surrender schedule

Year 1 2 3 4 5 6 7 8
Penalty 8% 8% 7% 6% 5% 4% 3% 2%

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
Carrier details
Free withdrawal
1st year: 0%
2nd+ year: 10%
Surrender schedule
8 years
Return of premium
Market value adjustment
Minimum contribution
$25,000
Types of funds
Non-Qualified, IRA, IRA-Roth, Stretch IRA, and NQ Stretch