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
Brochure
Free withdrawal
1st year: 0%
2nd+ year: 10%
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