As the name suggests, immediate annuities are purchased with a single premium, and immediately provide an income stream. The income stream is determined by the amount of initial premium, the length of time that the payout will continue, and the number of lives being covered.

Penn Mutual's Single Premium Immediate Annuity
Penn Mutual's Single Premium Immediate Annuity contract allows you to turn a fixed asset into a regular source of income. You make one premium payment and, in return, receive a fixed, guaranteed income. A Single Premium Immediate Annuity may be paid out either as a Fixed Period Annuity (annuity certain) where income is paid over a specified period of time or a Life Annuity where income is guaranteed over your entire lifetime regardless of how long you live.

Find a Representative to help you determine which type of annuity is best for you.

Policy Form Numbers are A-80, A-81, A-82, A-83, A-84 and AC-80