Surrender schedule (% of contract value)
Completed contract years since the issue date
Initial guarantee period
0
1
2
3
4
5
6
7
8
9 10
1 year
8% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
2 year
8% 8% 0% 0% 0% 0% 0% 0% 0% 0% 0%
3 year 4 year 5 year
8% 8% 7% 0% 0% 0% 0% 0% 0% 0% 0% 8% 8% 7% 6% 0% 0% 0% 0% 0% 0% 0% 8% 8% 7% 6% 5% 0% 0% 0% 0% 0% 0%
6 year
8% 8% 7% 6% 5% 4% 0% 0% 0% 0% 0%
7 year
8% 8% 7% 6% 5% 4% 3% 0% 0% 0% 0%
8 year
8% 8% 7% 6% 5% 4% 3% 2% 0% 0% 0%
9 year
8% 8% 7% 6% 5% 4% 3% 2% 1% 0% 0%
10 year
8% 8% 7% 6% 5% 4% 3% 2% 1% 1% 0%
The surrender charge period matches the guarantee period selected. Please note, in the 30 day period prior the end of the guarantee period, the owner may take withdrawals (full and partial) free of surrender charges. Surrender charge is the fee charged for full or partial withdrawals in excess of the free withdrawal amount.
Disclosures All guarantees are based on the claims-paying ability of the issuer.
Guaranteed Foundation Fixed Annuity (Policy Form ICC15-MYGA) is a Single Premium Deferred Annuity offered by The Penn Mutual Life Insurance Company. Policy form numbers vary by product and state. Products and features may not be available in all states. This product is not offered in New York. An annuity is a long-term financial retirement vehicle. Withdrawals are subject to contract provisions and will reduce the contract value, the amount used to calculate withdrawals or income payments and death benefit amounts. Withdrawals may be subject to income taxes and surrender charges and, when taken before age 59½, may be subject to an additional 10 percent penalty tax. Consult your trusted tax and financial advisors before making withdrawals. If the annuity contract is held in a qualified account or plan, such as an IRA, the tax deferral feature provides no additional benefits beyond that provided by the qualified account or plan. Any reference to the taxation of annuity products in this material is based on the issuer’s understanding of current tax laws. The issuer and its representatives do not provide tax or legal advice. For specific questions about your personal situation, you should consult your tax advisor. This material is intended to provide an overview of the product or concept described. All information, including product features, availability, rates and other provisions is believed to be accurate as of 03/23 and is subject to change.
Not FDIC or NCUA Insured
No Bank or Credit Union Guarantee
Not a Deposit
Not Insured by Any Federal Government Agency
© 2023 The Penn Mutual Life Insurance Company, Philadelphia, PA 19172, www.pennmutual.com
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01/23 | 5005154CC_Oct24
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