The Inflation Protector Variable Annuity from The Penn Mutual Life Insurance Company is new to the market and sure to excite some investors. Penn Mutual has been around for 163 years and is a market leader in regards to retirement income that is protected against inflation. This information was published in The San Francisco Chronicle from a company press release entitled “The Penn Mutual Life Insurance Company Announces Next Generation of Inflation-Protected Retirement Income Product.” Investors using this variable annuity remain invested in the market, but also have protection from inflation and volatility.
By combining the variable annuity and living benefit rider, investors’ income base is actually increasing during the deferral and withdrawal phases with this annuity. The amount is the greater increase between the Consumer Price Index or annual market performance. Investors can choose to have guaranteed income for either 20 years or over their lifetime. A death benefit annuity option is available so that this variable annuity can use either a Single Life or Joint Life guarantee. While there may be a tax penalty for withdrawing funds early, if the need arises investors can access their money without having to start receiving their monthly income. With many investment options and protection against inflation, Penn Mutual’s Inflation Protector Variable Annuity may be the right product for you.