contract_analysis_results.csv

Clause_Number,Category,Confidence,Risk_Score,Clause_Text
1,Termination,0.218,3,"htm FORM OF INITIAL SUMMARY PROSPECTUS
INITIAL SUMMARY PROSPECTUS
FOR
DEFERRED VARIABLE ANNUITY
an individual variable and fixed deferred annuity contract - flexible purchase payments issued by
THE PENN INSURANCE AND ANNUITY COMPANY
and funded through
PIA Variable Annuity Account I
of
The Penn Insurance and Annuity Company
PO Box 178, Philadelphia, Pennsylvania 19105
1-800-523-0650
[Date]
  
This Summary Prospectus (the “Summary Prospectus”) describes an Individual Variable and Fixed Deferred
Annuity with flexible purchase payments contract (the “Contract”) issued by The Penn Insurance and Annuity Company
(“PIA,” the “Company,” “we,” “us,” or “our”)"
2,Warranty,0.574,2,"The Summary Prospectus contains information that the Contract owner
should know before purchasing a Contract"
3,Payment Terms,0.404,2,Please read it carefully and save it for future reference
4,Governing Law,0.444,1,"This Summary
Prospectus is not an offering in any state, country, or jurisdiction in which we are not authorized to sell the Contracts"
5,Governing Law,0.685,1,The Contract is not available in New York
6,Termination,0.406,3,The Contract is an agreement between you and PIA
7,Indemnification,0.281,3,"You agree to make one or more payments to us and
we agree to make annuity and other payments to you at a future date"
8,Warranty,0.559,2,"The Contract:
 
 
•
  is an individual annuity and is not available as a group contract;
 
•
  has multiple investment options available, including variable investment options which invest in
underlying mutual fund portfolios and fixed investment options which will earn an interest rate which
we will declare;
 
•
  is a deferred annuity, which means that the regular annuity payments do not start immediately;
 
•
  allows for flexible purchase payments, on or after the contract date, subject to certain restrictions;
 
•
  is tax-deferred, which means that you will not pay income taxes until we begin to make annuity
payments to you, or you take withdrawals from the Contract, or until the death benefit is paid to your
beneficiary(ies);
 
•
  allows you to choose among the fixed annuitization options that can guarantee income payments for
a specified period or for the lifetime of the annuitant(s);
 
•
  includes a standard death benefit; and
 
•
  offers a selection of optional benefits at an additional charge including the Guaranteed Income
Rider, Accumulation Income Rider, Enhanced Death Benefit Rider, and Guaranteed Minimum
Accumulation Rider (although rider availability may vary by state and may change in the future)"
9,Warranty,0.535,2,"Before you invest, you should also review the Prospectus for the Contract, which contains more information
about the Contract’s features, benefits, and risks"
10,Termination,0.191,3,"You can obtain the Prospectus online at
www"
11,Intellectual Property,0.377,2,com/for-individuals-and-businesses/products-and-performance/performance-and-rates
12,Warranty,0.738,2,"You can also
request this information at no cost by calling 1-800-523-0650 or by sending an email request to
FundOperations@pennmutual"
13,Warranty,0.385,2,"If you are a new purchaser of a Contract, you may cancel your Contract within 10 days of
receiving it without paying fees or penalties"
14,Termination,0.411,3,"In some states, this “Free Look” or cancellation period may be longer"
15,Termination,0.344,3,"If
you cancel your Contract, in most states you will receive your Contract value and any fees or charges deducted"
16,Warranty,0.348,2,"In
some states, you will receive a full refund of the amount of any premiums you have paid, if greater than Contract value"
17,Warranty,0.322,2,"You should review the Prospectus, or consult with your financial professional, for additional information about the
specific cancellation terms that apply"
18,Warranty,0.396,2,"Additional information about certain investment products, including variable annuities, has been prepared by
the Securities and Exchange Commission’s staff and is available at Investor"
19,Warranty,0.357,2,Contracts have risks including risk of loss of the amount invested
20,Confidentiality,0.354,1,"Contracts are not deposits of, or
guaranteed or endorsed by, any bank and are not federally insured by the FDIC, Federal Reserve Board, or any other
agency"
21,Warranty,0.48,2,An investment in the Contract involves investment risk including the possible loss of principal
22,Warranty,0.327,2,"TABLE OF CONTENTS
 
Section
   Page 
Definitions
    
3 
Important Information You Should Consider About the Deferred Variable Annuity Contract
    
8 
Overview of the Deferred Variable Annuity Contract
    
12 
Benefits Available Under the Deferred Variable Annuity Contract
    
14 
Buying the Deferred Variable Annuity Contract
    
15 
Making Withdrawals: Accessing the Money in Your Deferred Variable Annuity Contract
    
18 
How Can I Withdraw Money from the Deferred Variable Annuity Contract?
    
18 
What Is Annuitization and How Do I Annuitize the Deferred Variable Annuity Contract?
    
21 
Additional Information About Fees
    
23 
Appendix A Portfolio Companies Available Under the Deferred Variable Annuity Contract
     A-1 
**********
The prospectuses of the mutual fund portfolios that are available in the Variable Investment Options (the
“Portfolios” or the “Portfolio Companies”) contain important information that you should know about the variable
investment options that may be made under the Contract"
23,Warranty,0.439,2,"You should read the prospectuses of the available Portfolios
carefully before you invest"
24,Warranty,0.431,2,"You can obtain the prospectuses for the Portfolios online at
www"
25,Intellectual Property,0.377,2,com/for-individuals-and-businesses/products-and-performance/performance-and-rates
26,Warranty,0.738,2,"You can also
request this information at no cost by calling 1-800-523-0650 or by sending an email request to
FundOperations@pennmutual"
27,Indemnification,0.395,3,"This Summary Prospectus (and the variable annuity) is not considered an offering in any jurisdiction where
such offering may not be lawfully made"
28,Indemnification,0.393,3,"We do not authorize any information or representations regarding the offering
described in this Summary Prospectus, the Prospectus, and the Statement of Additional Information (the “SAI”) other
than as contained in these materials or any supplements to them, or in any other sales material we authorize"
29,Warranty,0.596,2,"2
 
DEFINITIONS
The following key terms and their definitions are included to help make this Summary Prospectus as readable and
understandable for you as possible"
30,Warranty,0.333,2,"Other terms used within this Summary Prospectus are defined within the text
where they appear"
31,Governing Law,0.277,1,Not all of the definitions of those terms are repeated in this glossary
32,Governing Law,0.284,1,"More detailed information
concerning the terms defined below is in the appropriate sections of this Summary Prospectus or the Prospectus"
33,Warranty,0.507,2,"Accumulation Benefit Base: The amount used to determine the minimum value available at the end of the
Accumulation Benefit Period under the Guaranteed Minimum Accumulation Rider"
34,Warranty,0.547,2,"Accumulation Benefit Percentage: A percentage used to determine the minimum value available at the
end of the Accumulation Benefit Period under the Guaranteed Minimum Accumulation Rider, which varies
depending on the Accumulation Benefit Period selected"
35,Warranty,0.367,2,"Accumulation Benefit Period: Depending on the available option selected under the Guaranteed Minimum
Accumulation Rider, a period of time of either seven or 10 years at Contract issue, and five, seven, or 10
years upon electing a Reset Benefit"
36,Warranty,0.283,2,"Accumulation Income Benefit Base: The amount used to determine the Guaranteed Annual Withdrawal
Amount under the Accumulation Income Rider"
37,Termination,0.505,3,"Accumulation Income Rider: An optional benefit that may be added to your Contract, for an additional
charge, which provides for a guaranteed Lifetime Withdrawal benefit"
38,Warranty,0.294,2,"Accumulation Period: A period that begins with your first Purchase Payment and ends on the Annuity
Date"
39,Warranty,0.554,2,"Accumulation Unit: A unit of measure used to compute the Variable Account Value under the Contract prior
to the Annuity Date"
40,Intellectual Property,0.524,2,Actual Age: True calendar age in exact years (including partial year)
41,Indemnification,0.177,3,"Administrative Office: The Penn Insurance and Annuity Company, Administrative Office, 600 Dresher
Road, Horsham, Pennsylvania 19044"
42,Warranty,0.32,2,"Age-Based Lifetime Withdrawal Rate: The age-based component of the Lifetime Withdrawal Rate (based
on the age of the younger Covered Life) under the Lifetime Withdrawal Guarantee of the Accumulation
Income Rider"
43,Intellectual Property,0.948,2,Age Nearest Birthday: Age rounded to nearest whole number of years
44,Warranty,0.227,2,"Annuitant: The individual named in the Contract whose lifetime is used as a measuring life for all annuity
options, benefits, and features"
45,Warranty,0.552,2,"Annuitization: The process by which you convert your Contract Value into a stream of regular income
payments"
46,Warranty,0.367,2,"Annuity Date: The date on which annuity payments begin, and the Contract transitions from the
accumulation phase to the Annuitization (income) phase"
47,Payment Terms,0.308,2,"The date annuity payments are scheduled to begin
is shown in the Contract and will never be later than the maximum maturity date"
48,Payment Terms,0.357,2,"Annuity Payout Period: The period of time, starting on the Annuity Date, during which we make annuity
payments"
49,Termination,0.642,3,Base Contract: The Contract without optional benefits
50,Indemnification,0.88,3,"Beneficiary: The person(s) named by the Contract Owner to receive the death benefit payable upon the
death of the Contract Owner or Annuitant"
51,Governing Law,0.507,1,"Code: The Internal Revenue Code of 1986, as amended"
52,Indemnification,0.219,3,"3
Company: The Penn Insurance and Annuity Company"
53,Governing Law,0.195,1,"Also referred to as “we,” “our,” and “us,” or “PIA"
54,Indemnification,0.721,3,"”
Contingent Annuitant: The individual designated by the Contract Owner and named in the Contract who
will become the Annuitant in the event that the Annuitant dies before the Contract is terminated or
annuitized"
55,Governing Law,0.376,1,Contract: The combination variable and fixed annuity Contract described in this Summary Prospectus
56,Termination,0.379,3,Contract Anniversary: Any subsequent anniversary date of the Contract Date
57,Intellectual Property,0.325,2,"All values that are
determined on a Contract Anniversary are based on the next close of regular trading on the NYSE"
58,Intellectual Property,0.25,2,"To the
extent the Contract Anniversary falls on a date other than a business day any value to be determined as of
the Contract Anniversary will be determined as of the close of regular trading of the NYSE on the next
business day"
59,Warranty,0.274,2,Contract Date: The date the Contract is issued
60,Indemnification,0.875,3,"Contract Owner or Owner: The person or entity, named in the Contract, unless amended by any
subsequent change in ownership, entitled to exercise all of the ownership rights under the Contract"
61,Warranty,0.793,2,"Contract Specifications Page: The Contract Specifications Page contains your Contract’s individual
specifications"
62,Warranty,0.723,2,Contract Value: The sum of the Variable Account Value and the Fixed Account Value
63,Termination,0.33,3,"Contract Year: The time period between Contract Anniversaries; the first Contract Year runs from the
Contract Date to the first Contract Anniversary"
64,Termination,0.334,3,"Contract Year Quarter: Each three-month period during a Contract Year, with the first Contract Year
Quarter in any Contract Year starting on the Contract Anniversary"
65,Indemnification,0.434,3,"Covered Life: The person designated in the Contract upon whose age/lifetime the features and benefits of
any Rider are based"
66,Warranty,0.228,2,"Death Benefit Enhancement: The amount by which the Enhanced Death Benefit Base exceeds the
Standard Death Benefit payable under the Contract"
67,Warranty,0.262,2,"Deferral Phase: The period prior to the exercise of withdrawals under the Lifetime Withdrawal Guarantee of
the Accumulation Income Rider or under the Living Benefit Guarantee of the Guaranteed Income Rider"
68,Warranty,0.455,2,"Early Access Withdrawal: You are permitted to take withdrawals during the Deferral Phase which do not
initiate the Withdrawal Phase under the Accumulation Income Rider and under the Guaranteed Income
Rider"
69,Termination,0.463,3,"Early Access Withdrawals reduce the applicable benefit base by the greater of the dollar amount of
the withdrawal or a proportional reduction, which could significantly reduce the Rider’s benefit and even
terminate the Rider and the Contract"
70,Warranty,0.539,2,"Effective Waiting Bonus: The component of the Lifetime Withdrawal Rate that is based on the age of each
Purchase Payment under the Lifetime Withdrawal Guarantee of the Accumulation Income Rider"
71,Warranty,0.452,2,"Enhanced Death Benefit Base: The value used to determine the amount of the Death Benefit
Enhancement"
72,Termination,0.486,3,"Enhanced Death Benefit Rider: An optional benefit, for an additional charge, which may be added to your
Contract which provides for the payment of the Death Benefit Enhancement in addition to the Standard
Death Benefit"
73,Warranty,0.265,2,"Excess Withdrawal: Any withdrawal during the Withdrawal Phase in excess of the Guaranteed Annual
Withdrawal Amount under the Accumulation Income Rider and under the Guaranteed Income Rider"
74,Indemnification,0.387,3,"Fixed Account: The account in which amounts are held for the Contract under all Fixed Account Options
prior to the Annuity Date"
75,Warranty,0.657,2,"Fixed Account Option: The Investment Options available under the Company’s Fixed Account, including
the Short-Term Fixed Account and the Fixed Dollar Cost Averaging Options"
76,Warranty,0.407,2,"4
Fixed Account Value: The value of the amounts held in all Fixed Account Options of the Fixed Account for
this Contract"
77,Warranty,0.714,2,"Fixed Dollar Cost Averaging Options: The Investment Options available under the Fixed Account that
provide for credited interest at annual rates declared by the Company and are for use in the Dollar Cost
Averaging Program"
78,Warranty,0.379,2,"Free Withdrawal Amount: The amount, expressed as a percentage of Purchase Payments, a Contract
Owner may withdraw each year during the Surrender Charge Period without incurring a Surrender Charge"
79,Warranty,0.464,2,"Guaranteed Annual Withdrawal Amount (Accumulation Income Rider): The annual amount you may
withdraw under the Accumulation Benefit Rider and based on the amount of the Accumulation Income
Benefit Base and the Lifetime Withdrawal Rate that applies for the Covered Life(ves) at that time"
80,Warranty,0.341,2,"Guaranteed Annual Withdrawal Amount (Guaranteed Income Rider): The annual amount you may
withdraw under the Guaranteed Income Rider and based on the amount of the Guaranteed Income Benefit
Base and the withdrawal rate under the Living Benefit Guarantee at that time"
81,Warranty,0.309,2,"Guaranteed Income Benefit Base: The amount used to determine the Guaranteed Annual Withdrawal
Amount under the Guaranteed Income Rider"
82,Termination,0.407,3,"Guaranteed Income Rider: An optional benefit that may be added to your Contract, for an additional
charge, which provides for guaranteed minimum withdrawals under the Living Benefit Guarantee"
83,Warranty,0.45,2,"Guaranteed Minimum Accumulation Benefit Amount: The guaranteed minimum amount which will be
available as your Contract Value at the end of the Accumulation Benefit Period if you elect to add the
Guaranteed Minimum Accumulation Rider optional benefit to your Contract"
84,Termination,0.443,3,"Guaranteed Minimum Accumulation Rider: An optional benefit that may be added to your Contract, for an
additional charge, at issue which provides for return of minimum value at the end of the Accumulation
Benefit Period"
85,Indemnification,0.366,3,Initial Purchase Payment: The sum of all deposits made into the Contract on the Contract Date
86,Warranty,0.524,2,"Investment Options: The Contract’s investment options that consist of the Variable Investment Options and
the Fixed Account Options"
87,Indemnification,0.327,3,"Joint Annuitant: The individual other than the Annuitant (as designated in the Contract) whose lifetime is
also used as a measuring life for all annuity options, benefits, and features"
88,Warranty,0.496,2,"Joint Life Guarantee: Type of optional benefit that is added to the Contract at issue which designates that
the features and benefits of the Rider(s) will cover two Covered Lives, specified at Contract issue"
89,Warranty,0.449,2,"Lifetime Withdrawal: Withdrawals available under the Lifetime Withdrawal Guarantee of the Accumulation
Income Rider and under the Lifetime Withdrawal Guarantee of the Guaranteed Income Rider that provides
Guaranteed Annual Withdrawal Amounts for the lifetime(s) of the Covered Life(ves)"
90,Warranty,0.43,2,"Lifetime Withdrawal Guarantee: Provides Guaranteed Annual Withdrawal Amounts for the lifetime(s) of the
Covered Life(ves) under the Accumulation Income Rider and under the Lifetime Withdrawal Guarantee of
the Guaranteed Income Rider"
91,Confidentiality,0.231,1,"Lifetime Withdrawal Rate: The percentage applied to the Guaranteed Income Benefit Base (based on the
age of the younger Covered Life) to determine the Guaranteed Annual Withdrawal Amount under the
Lifetime Withdrawal Guarantee provided by the Guaranteed Income Rider"
92,Warranty,0.319,2,"The percentage applied to the
Accumulation Income Benefit Base (equal to the sum of the Age-Based Lifetime Withdrawal Rate and the
Effective Waiting Bonus) to determine the Guaranteed Annual Withdrawal Amount under the Lifetime
Withdrawal Guarantee of the Accumulation Income Rider"
93,Warranty,0.357,2,"Living Benefit Guarantee: Provides Guaranteed Annual Withdrawal Amounts under either the Lifetime
Withdrawal Guarantee or the Standard Withdrawal Guarantee of the Guaranteed Income Rider"
94,Payment Terms,0.263,2,"5
Maturity Age: The oldest age at which annuity payments may begin as specified in your Contract (generally
Actual Age 100)"
95,Termination,0.51,3,"Monthly Anniversary: The same day of each month as the Contract Anniversary; if there is no
corresponding date in the month, the Monthly Anniversary date will be the last date of such month"
96,Confidentiality,0.364,1,"Non-Qualified Contract: A non-qualified annuity is not part of an employer provided retirement program and
may be purchased by any individual or entity; contributions to non-qualified annuities are made with after-tax
dollars"
97,Warranty,0.611,2,"Portfolios: The mutual fund portfolios that are available for investment in the Variable Investment Options of
the Separate Account"
98,Confidentiality,0.294,1,The Portfolios are referred to sometimes as Portfolio Companies
99,Indemnification,0.462,3,Purchase Payment: Any deposit made into the Contract
100,Termination,0.237,3,"Qualified Contract: A qualified annuity is purchased as part of, or in conjunction with, an employer provided
retirement plan, such as a defined benefit pension plan, or an individual retirement arrangement, such as an
Individual Retirement Annuity (IRA)"
101,Confidentiality,0.517,1,"PIA does not issue contracts through 401(k) or similar defined
contribution pension plans"
102,Confidentiality,0.232,1,"Required Minimum Distributions (RMD): Required minimum distributions under the Internal Revenue
Code"
103,Warranty,0.464,2,"Reset Benefit: A benefit available under the Guaranteed Minimum Accumulation Rider, which allows a
Contract Owner to reset the Accumulation Benefit Base as the current Contract Value as of any Contract
Anniversary and start a new Accumulation Benefit Period"
104,Warranty,0.299,2,"Reset Benefit Date: Any Contract Anniversary on which a Reset Benefit has been elected under an
effective Guaranteed Minimum Accumulation Rider"
105,Warranty,0.339,2,"Rider: Optional benefit (or combination of benefits) that adds to, alters, or amends the Contract to provide
additional features to the Base Contract — including the Enhanced Death Benefit Rider, Guaranteed Income
Rider, Accumulation Income Rider, and Guaranteed Minimum Accumulation Rider (although rider availability
may vary by state and may change in the future)"
106,Warranty,0.388,2,"Rider Charge: The applicable charge for an optional benefit Rider that you may purchase with your
Contract"
107,Indemnification,0.328,3,"Separate Account: The PIA Variable Annuity Account I, of The Penn Insurance and Annuity Company, a
segregated asset account of the Company"
108,Warranty,0.495,2,"The Separate Account is divided into subaccounts, each of
which invests exclusively in a specific Portfolio and is referred to sometimes as a Variable Investment
Option"
109,Warranty,0.727,2,"Short-Term Fixed Account: The Investment Option available under the Fixed Account that earns a rate of
interest declared by the Company from time to time"
110,Warranty,0.572,2,"Single Life Guarantee: Type of optional benefit that is added to the Contract at issue which designates that
the features and benefits of the Rider will cover one Covered Life, specified at Contract issue"
111,Indemnification,0.708,3,"Spousal Step-In: Under Code Section 72(s), upon Contract Owner’s death, a spouse who is sole primary
Beneficiary of a Contract may take the Contract as their own"
112,Termination,0.198,3,"Standard Death Benefit: The amount of the death benefit under the Contract, calculated as described
under “What Are the Supplemental Riders and Benefits That Are Available? – Death Benefit"
113,Warranty,0.555,2,"”
Standard Withdrawal Benefit Balance: Used to determine how long the benefit will last under the
Standard Withdrawal Guarantee of the Guaranteed Income Rider"
114,Warranty,0.559,2,"Standard Withdrawal Guarantee: Provides Guaranteed Annual Withdrawal Amounts for the earlier of the
Standard Withdrawal Benefit Balance reducing to zero and the lifetime(s) of the Covered Life(ves) under the
Standard Withdrawal Guarantee of the Guaranteed Income Rider"
115,Warranty,0.332,2,"6
Standard Withdrawal Rate: The percentage applied to the Guaranteed Income Benefit Base to determine
the Guaranteed Annual Withdrawal Amount under the Standard Withdrawal Guarantee of the Guaranteed
Income Rider"
116,Warranty,0.687,2,"The available Standard Withdrawal Rates at the time the Standard Withdrawal Guarantee is
elected will be determined by the then applicable Lifetime Withdrawal Rate and the Standard Withdrawal
Rate Threshold"
117,Warranty,0.633,2,"Standard Withdrawal Rate Threshold: The amount added to the then applicable Lifetime Withdrawal Rate
to determine which Standard Withdrawal Rates are available under the Standard Withdrawal Guarantee of
the Guaranteed Income Rider"
118,Termination,0.293,3,"Step-Up: An increase in the Guaranteed Income Benefit Base, the Accumulation Income Benefit Base, the
Enhanced Death Benefit Base, or the Standard Withdrawal Benefit Balance to an amount equal to 100% of
the Contract Value, determined on the applicable Contract Anniversary"
119,Indemnification,0.382,3,Subsequent Purchase Payment: Any deposit made into the Contract after the Contract Date
120,Warranty,0.477,2,"Surrender Charge: A fee imposed as a percentage of the amount of the Purchase Payments withdrawn in
excess of the Free Withdrawal Amount for the Contract Year during the Surrender Charge Period"
121,Indemnification,0.391,3,Surrender Charge Basis: The sum of all Purchase Payments not yet withdrawn
122,Warranty,0.536,2,"Surrender Charge Period: The number of Contract Years during which a Purchase Payment is subject to a
Surrender Charge"
123,Indemnification,0.343,3,Surrender Value: Contract Value less any charges and fees imposed upon surrender
124,Warranty,0.339,2,Valuation Period: The period from one valuation of Separate Account assets to the next
125,Warranty,0.329,2,"Valuation is
performed on each day the NYSE is open for trading"
126,Warranty,0.401,2,"Variable Account: The account under which amounts are held for the Contract Owner under all Variable
Investment Options prior to the Annuity Date"
127,Warranty,0.631,2,"Variable Account Value: The sum of the values of the Accumulation Units held in the Variable Investment
Options for this Contract"
128,Warranty,0.609,2,"Variable Investment Options: The subaccounts of the Separate Account, each of which invests exclusively
in a specified Portfolio"
129,Warranty,0.33,2,"Withdrawal Phase: The period during which withdrawals are taken under the Lifetime Withdrawal
Guarantee of the Accumulation Income Rider or under the Living Benefit Guarantee of the Guaranteed
Income Rider"
130,Indemnification,0.557,3,"You, Your: The Contract Owner, who can make decisions regarding allocation of Purchase Payments,
transfers, withdrawals, surrender, naming Beneficiary(ies), electing Riders, and other matters (all within the
Contract limits)"
131,Warranty,0.366,2,"7
 
IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE DEFERRED VARIABLE ANNUITY
CONTRACT
 
 
FEES AND EXPENSES
 
  
 
 
 
 
Charges for
Early
Withdrawals
 
 
 
If you surrender your Contract or withdraw money from the Contract within seven years following
your last Purchase Payment, you will be assessed a Surrender Charge of up to 8"
132,Warranty,0.307,2,"For example, if you make a withdrawal in the first year, you could pay a Surrender Charge of up to
$8,000 on a $100,000 investment"
133,Governing Law,0.307,1,"For more detailed information, see “Surrender Charge” under “What Are the Fees and Charges
Under the Contract?” in the Prospectus"
134,Warranty,0.628,2,"Transaction
Charges
 
 
 
In addition to Surrender Charges, you may also be charged for other transactions, such as
transfers between Investment Options"
135,Governing Law,0.271,1,"For more detailed information, see “Table of Fees and Expenses;” “What Are the Fees and
Charges Under the Contract?” in the Prospectus"
136,Warranty,0.465,2,"Ongoing Fees
and Expenses
 
  
 
The table below describes the fees and expenses that you may pay each year, depending on
the options you choose"
137,Warranty,0.467,2,"Please refer to your Contract Specifications Page for information about
the specific fees you will pay each year based on the options you have elected"
138,Termination,0.387,3,"Annual Fee
  Minimum    Maximum      
 
 
 
 
 
 
    Base Contract1
  
1"
139,Intellectual Property,0.497,2,"40%
   
 
 
 
 
 
 
    Investment Options (Portfolio fees and expenses)2
  
0"
140,Termination,0.38,3,"41%
   
 
 
 
 
 
 
   
Optional benefits available for an additional charge (for a single
optional benefit, if elected)3
  
0"
141,Intellectual Property,0.355,2,"50%
  
 
 
 
 
1  Expressed as an annual percent of Contract Value in the Variable Investment Options"
142,Intellectual Property,0.57,2,2  Expressed as an annual percentage of daily net assets in the Portfolio
143,Intellectual Property,0.243,2,"This range is for the year ended
December 31, 2022, and could change from year to year"
144,Warranty,0.478,2,"3  Expressed as an annual percentage of the applicable benefit base or Variable Account Value, depending on the
optional benefit"
145,Warranty,0.439,2,"Because your Contract is customizable, the choices you make affect how much you will pay"
146,Termination,0.231,3,"To
help you understand the cost of owning your Contract, the following table shows the lowest and
highest cost you could pay each year, based on current charges"
147,Warranty,0.603,2,"The estimate assumes that you
do not take withdrawals from the Contract, which could add Surrender Charges that substantially
increase costs"
148,Intellectual Property,0.577,2,"Lowest Annual Cost:
$1,536
 
      
Highest Annual Cost:
$5,059
 
    
 
 
 
 
Assumes:
 
•  Investment of $100,000
•  5"
149,Intellectual Property,0.353,2,"00% annual appreciation
•  Least expensive combination
of the Contract and Portfolio
fees and expenses
•  No optional benefits
•  No sales charges
•  No additional Purchase
Payments, transfers, or
withdrawals
 
 
  
  
Assumes:
 
•  Investment of $100,000
•  5"
150,Termination,0.271,3,"00% annual appreciation
•  Most expensive combination of Contract, optional
benefits and Portfolio fees and expenses
•  No sales charges
•  No additional Purchase Payments, transfers, or
withdrawals
  
 
 
8
 
RISKS
 
 
 
Risk of Loss
  
You can lose money by investing in this Contract, including loss of your Purchase Payments
(principal)"
151,Warranty,0.243,2,"For more detailed information, see “Summary of Principal Risks of Investing in the Contract"
152,Warranty,0.312,2,"”
 
 
 
Not a Short-
Term
Investment
  
The Contract is not designed for short-term investing and is not appropriate for an investor who
needs ready access to cash"
153,Payment Terms,0.215,2,"The Contract is designed to provide for the accumulation of retirement savings and income on a
long-term basis"
154,Warranty,0.32,2,"As such, you should not use the Contract as a short-term investment or savings
vehicle"
155,Confidentiality,0.19,1,"A Surrender Charge may apply in certain circumstances, and potentially result in a
significant reduction in the Standard Death Benefit, potentially significant reduction in or loss of
optional benefits, and/or federal and state income taxes and tax penalties"
156,Warranty,0.243,2,"For more detailed information, see “Summary of Principal Risks of Investing in the Contract"
157,Warranty,0.671,2,"”
 
 
 
Risks
Associated
with Investment
Options
  
•   An investment in the Contract is subject to the risk of loss/poor investment performance of
the Portfolios you choose, and the value of an investment can vary depending on the
performance of the Portfolios"
158,Warranty,0.745,2,"•   Each Investment Option (the Variable Investment Options and the Fixed Account Options)
has its own unique risks"
159,Warranty,0.363,2,"You should review these Investment Options before making an
investment decision"
160,Warranty,0.59,2,"The performance of the Portfolios will vary among each other, may
underperform similar mutual funds not available through the Variable Investment Options,
and some are riskier than others"
161,Warranty,0.716,2,"•   A discussion of the risk of allocating your Purchase Payments to one or more Portfolios can
be found in the prospectuses for the Portfolios"
162,Warranty,0.473,2,"You should review the prospectuses for the
Portfolios before making an investment decision"
163,Warranty,0.263,2,"For more detailed information, see “Summary of Principal Risks of Investing in the Contract;”
“Appendix A – Portfolio Companies Available Under the Contract;” “Appendix B – Fixed Account
Options"
164,Indemnification,0.575,3,"”
 
 
 
Insurance
Company Risks
  
An investment in the Contract is subject to the risks related to the Company, including:
 
•   Any obligations, guarantees, and benefits of the Contract (including the Fixed Account
Options, the Standard Death Benefit, and the optional Rider benefits) are subject to the
claims-paying ability and financial strength of the Company"
165,Warranty,0.291,2,"•   There are risks relating to the Company’s administration of the Contract, including, among
others, cybersecurity and infectious disease outbreak risks"
166,Confidentiality,0.324,1,"•   If the Company experiences financial distress, it may not be able to meet its obligations to
you"
167,Warranty,0.257,2,"•   More information about the Company, including its financial strength ratings, is available
upon request from the Company at 1-800-523-0650"
168,Confidentiality,0.217,1,"For more detailed information, see “The Penn Insurance and Annuity Company;” “Financial
Statements;” “Insurance Company Risks” under “Summary of Principal Risks of Investing in the
Contract;” “Other Information"
169,Warranty,0.565,2,"”
 
 
9
 
RESTRICTIONS
 
 
 
Investments
  
•   You can allocate your Purchase Payments to the Variable Investment Options (that invest in
the Portfolios) or the Fixed Account Options"
170,Warranty,0.501,2,"•   The minimum amount that may be transferred is $250 or, if less, the total amount held in the
Investment Option"
171,Indemnification,0.436,3,"•   The Company reserves the right to remove or substitute any of the Portfolios as Investment
Options that are available under the Contract"
172,Warranty,0.442,2,"•   In addition, we may limit your ability to make transfers involving the Variable Investment
Options if it is believed that a transfer may disadvantage or potentially harm or hurt the rights
or interests of other Contract Owners"
173,Warranty,0.369,2,"•   We will also reject or reverse a transfer request if for any reason any of the Portfolios do not
accept the purchase of its shares"
174,Indemnification,0.321,3,"•   In addition, we reserve the right to reject any Purchase Payment at any time for any reason"
175,Warranty,0.46,2,"For more detailed information, see “How Do I Change the Contract’s Investment Allocations?;”
“Appendix B – Fixed Account Options;”
 
 
 
Optional
Benefits
  
The Contract offers a selection of optional benefits"
176,Warranty,0.388,2,"•   If you select an optional benefit, you are not permitted to invest in the Short-Term Fixed
Account"
177,Warranty,0.335,2,"In the future, we may change this restriction or add new ones relating to other
Investment Options"
178,Warranty,0.468,2,"•   Withdrawals, including Required Minimum Distributions (“RMDs”), may reduce the value of an
optional benefit by an amount greater than the value withdrawn or result in termination of the
benefit and the Contract"
179,Warranty,0.428,2,"•   Withdrawals under the optional benefits, including Guaranteed Annual Withdrawal Amounts,
are subject to the surrender charge rules"
180,Indemnification,0.474,3,"Therefore, a surrender charge may apply to such
withdrawals"
181,Termination,0.332,3,"•   Subsequent Purchase Payments are not permitted during the Withdrawal Phase of the
Accumulation Income Rider, which means that the Purchase Payments cannot be used at
that time to increase Contract Value, the death benefit or the Accumulation Income Benefit
Base"
182,Warranty,0.575,2,"•   While the Guaranteed Minimum Accumulation Rider provides a guarantee that is designed to
provide a minimum Contract Value, additional Purchase Payments made after the first 12
months of the Accumulation Benefit Period will not be included in the Accumulation Benefit
Base"
183,Warranty,0.395,2,"Any additional Purchase Payments made after the first 12 months will increase the
Contract Value but not the Accumulation Benefit Base and may reduce the likelihood of
receiving the benefit provided by the Guaranteed Minimum Accumulation Rider"
184,Warranty,0.316,2,"•   We may modify or stop offering an optional benefit at any time, and the availability of such
benefits may vary by state"
185,Confidentiality,0.292,1,"For more detailed information, see “What Are the Supplemental Riders and Benefits That Are
Available?”
 
 
TAXES
 
 
 
Tax
Implications
  
•   Consult with a tax professional to determine the tax implications of an investment in and
payments received under this Contract"
186,Confidentiality,0.353,1,"•   If you purchase the Contract through a tax-qualified plan or individual retirement account
(“IRA”), you do not get any additional tax benefit"
187,Termination,0.429,3,"•   Withdrawals from your Contract are taxed at ordinary income tax rates, and may be subject to
a tax penalty before age 59 1⁄2"
188,Indemnification,0.407,3,"For more detailed information, see “Summary of Principal Risks of Investing in the Contract –
Taxes and Tax Risks;” “How Is the Contract Treated Under Federal Income Tax Law?”
 
 
10
 
CONFLICTS OF INTEREST
 
 
 
Investment
Professional
Compensation
  
Your financial professional may receive compensation for selling this Contract to you, in the form
of commissions, asset-based compensation, allowances for expenses, and other compensation
programs, and the Company may share the revenue it earns on this Contract with the
professional’s firm"
189,Indemnification,0.392,3,"(Your financial professional may be your broker, investment adviser, insurance
agent, or someone else"
190,Indemnification,0.316,3,")
 
For these reasons, these financial professionals may have a financial incentive to recommend this
Contract over another annuity contract or investment"
191,Payment Terms,0.181,2,"For more detailed information, see “Distribution Arrangements"
192,Warranty,0.294,2,"”
 
 
 
Exchanges
  
Some financial professionals may have a financial incentive to offer you a new contract in place of
the one you own"
193,Warranty,0.289,2,"You should only exchange your contract if you determine, after comparing the
features, fees, and risks of both contracts, that it is preferable for you to purchase the new
contract rather than continue to own your existing contract"
194,Termination,0.206,3,"For more detailed information, see “How Do I Purchase the Contract? – Tax Free ‘Section  1035’
Insurance Contract Exchanges"
195,Warranty,0.429,2,"”
 
 
11
 
OVERVIEW OF THE DEFERRED VARIABLE ANNUITY CONTRACT
The following provides an overview of the Deferred Variable Annuity Contract’s primary features"
196,Governing Law,0.457,1,"Please
read the full descriptions in the rest of this Summary Prospectus, the Prospectus, and your Contract, for more
information regarding these features and other provisions of the Contract"
197,Indemnification,0.491,3,"Purpose of the Contract
The Contract is designed to accumulate Contract Value and to provide income over a certain period of time
or for life subject to certain conditions"
198,Termination,0.279,3,"The Contract can supplement your retirement income by providing a stream of
income payments during the Annuity Payout Period"
199,Termination,0.389,3,"The benefits offered under the Contract may be a variable or fixed
amount, if available, or a combination of both"
200,Indemnification,0.729,3,"The Contract also offers a death benefit payable to your designated
Beneficiaries upon the death of the Contract Owner or Annuitant"
201,Warranty,0.484,2,This Contract may be appropriate if you have a long investment time horizon
202,Warranty,0.355,2,"It is not intended for people
who may need to make early or frequent withdrawals or intend to engage in frequent trading in the Variable Investment
Options"
203,Termination,0.278,3,"Phases of the Contract
Your Contract has two phases: (1) an accumulation (savings) phase called the Accumulation Period, prior to
the Annuity Date; and (2) a payout (income) phase called the Annuity Payout Period, after the Annuity Date"
204,Warranty,0.654,2,"Accumulation (Savings) Period
To help you accumulate assets during the Accumulation Period, you can invest your payments and earnings
in different Investment Options as follows:
 
 
•
  The Contract allows you to allocate your Contract Value among the different Variable Investment
Options which each invest in a specified mutual fund portfolio (each, a “Portfolio”)"
205,Warranty,0.552,2,"Your Contract
Value will increase or decrease to reflect the investment performance of the Portfolios you select;
you bear the investment risk and you can lose money invested in the Portfolios"
206,Warranty,0.37,2,"Appendix A to this
Summary Prospectus lists the Portfolios currently available in the Contract and includes
additional information about the Portfolios"
207,Warranty,0.863,2,"•
  In addition to the Variable Investment Options, the Contract allows you to allocate your Contract
Value to the Fixed Account Options"
208,Warranty,0.681,2,"The Fixed Account Options are the Short-Term Fixed Account
and the Fixed Dollar Cost Averaging Options"
209,Warranty,0.467,2,"The optional benefits do not permit you to invest in the
Short-Term Fixed Account"
210,Warranty,0.706,2,"The Fixed Account Options are designed to be safe investments that
provide fixed returns, where the Company pays a fixed rate of interest (that it declares periodically,
subject to a minimum) and where the Company bears the investment risk"
211,Warranty,0.538,2,"The Fixed Account
Options are described in Appendix B to the Prospectus"
212,Warranty,0.51,2,"•
  You can change the Investment Options in which you invest throughout the Accumulation Period"
213,Warranty,0.4,2,"Annuity (Income) Payout Period
You can elect to annuitize your Contract and turn your Contract Value into a stream of income payments
(called annuity payments), at which time the Accumulation Period of the Contract ends"
214,Termination,0.299,3,"These payments may continue
for a fixed period of years, for your entire life, or for the longer of a fixed period or your life"
215,Warranty,0.536,2,"If you annuitize, your
investments will be converted to income payments and you may no longer be able to choose to make withdrawals from
your Contract (depending on which Annuity option you select)"
216,Intellectual Property,0.263,2,"All benefits (including death benefits and optional
benefits) terminate upon Annuitization"
217,Warranty,0.371,2,"However, several optional benefit Riders offered under the Contract provide guaranteed payments during
the accumulation phase that may last for life, and still allow you to make withdrawals and be eligible for a death benefit"
218,Warranty,0.267,2,"Withdrawals that exceed specified limits under an optional benefit will reduce and could eliminate the income payments
and other benefits of the optional benefit, including access to a death benefit"
219,Termination,0.403,3,"Contract Features
Base Contract
The Contract has a seven year Surrender Charge Period (based on each Purchase Payment) and a
Contract expense charge of 1"
220,Intellectual Property,0.463,2,40 of the Variable Investment Options on an annual basis
221,Warranty,0.82,2,"Transfers
Within limitations, you may transfer Contract Value from one Variable Investment Option to another and
between the Short-Term Fixed Account and the Variable Investment Options"
222,Warranty,0.681,2,"In addition, the Contract offers two
automated transfer programs — a dollar cost averaging program and an asset rebalancing program"
223,Warranty,0.881,2,"You can elect to
have your account value automatically rebalanced at no additional charge"
224,Warranty,0.951,2,"We offer rebalancing programs that you can
use to automatically reallocate your account value among your Variable Investment Options"
225,Warranty,0.542,2,"You can also elect to
allocate your investments using a dollar cost averaging program at no additional charge"
226,Confidentiality,0.323,1,"You may not elect both a
dollar cost averaging program and a rebalancing program"
227,Warranty,0.619,2,"Contract Value
The Contract Value includes the amount in the Variable Investment Options and the Fixed Account Options"
228,Warranty,0.724,2,"The value of your Contract will increase or decrease based upon the investment performance of the Variable
Investment Options you choose, your Purchase Payments, interest credited to the Fixed Account Options, any partial
withdrawals, and the charges we deduct"
229,Warranty,0.478,2,"Surrenders and Withdrawals
During the Accumulation Period you can surrender the Contract or withdraw part of the Contract Value"
230,Warranty,0.249,2,"However, the Contract is generally not a liquid investment"
231,Termination,0.288,3,"If you withdraw early, a Surrender Charge and federal and
state taxes may apply and/or you may incur a tax penalty if you are younger than 59 1⁄2"
232,Warranty,0.285,2,"Withdrawals, including
Required Minimum Distributions (“RMDs”), could significantly reduce the standard death benefit in addition to the
guaranteed benefits, and the amount of the reduction may be greater than the dollar amount of the withdrawal and
could terminate the guaranteed benefits"
233,Termination,0.42,3,"Free Look Period: “Right to Cancel”
If you are a new purchaser of a Contract, you may cancel your Contract within 10 days of receiving it without
paying fees or penalties"
234,Termination,0.411,3,"In some states, this “Free Look” or cancellation period may be longer"
235,Termination,0.344,3,"If you cancel your
Contract, in most states you will receive your Contract value and any fees or charges deducted"
236,Warranty,0.389,2,"In some states, you
will receive a full refund of the amount of any Purchase Payments you have paid, if greater than Contract value"
237,Indemnification,0.561,3,"To
cancel your Contract, simply deliver or mail the Contract to our office or to the financial professional who delivered the
Contract to you"
238,Indemnification,0.56,3,"Death Benefit
Your Contract includes a death benefit that will be paid upon the death of either the Contract Owner or the
Annuitant"
239,Indemnification,0.478,3,"On the death of the Annuitant, the death benefit will be equal to the greater of Contract Value or Purchase
Payments less adjusted withdrawals"
240,Indemnification,0.597,3,"On the death of the Contract Owner who is not the Annuitant, the death benefit
will be equal to the Contract Value"
241,Warranty,0.38,2,"Optional Benefit Riders
You may purchase certain available optional benefits for an additional fee:
 
 
•
  Enhanced Death Benefit Rider – offers a Death Benefit Enhancement;
 
 
•
  Accumulation Income Rider — provides for guaranteed Lifetime Withdrawals under the terms of the
Rider;
 
 
•
  Guaranteed Income Rider — provides for living benefit Withdrawals under the terms of the Rider;
and
 
 
•
  Guaranteed Minimum Accumulation Rider — provides for a return of a minimum value at the end of
the Accumulation Benefit Period"
242,Warranty,0.397,2,"13
These optional benefit Riders provide different methods to take income from your Contract Value or receive
lifetime payments and provide certain guarantees, regardless of the investment performance of the Contract"
243,Governing Law,0.447,1,"These
guarantees are subject to certain conditions, as set forth elsewhere in this Summary Prospectus and the Prospectus"
244,Confidentiality,0.289,1,"Withdrawals that exceed specified limitations under certain Riders may result in a reduction or premature
termination of those benefits or of those Riders"
245,Warranty,0.429,2,"Withdrawals under the Riders, including Guaranteed Annual
Withdrawal Amounts, are subject to the surrender charge rules"
246,Indemnification,0.474,3,"Therefore, a surrender charge may apply to such
withdrawals"
247,Termination,0.446,3,"Withdrawals, including RMDs, could significantly reduce the values under the Riders, perhaps by more than
the amount of the withdrawal, and could terminate the Riders and the Contract"
248,Warranty,0.311,2,"The Guaranteed Income Rider and Accumulation Income Rider provide a contingent guarantee that may never
come into effect because withdrawals taken while Contract Value is greater than zero are withdrawals of the Contract
Owner’s own money, and the Company is only required to make guaranteed payments from its general account if and
when the Contract Value is reduced to zero"
249,Warranty,0.461,2,"The Guaranteed Minimum Accumulation Rider provides a guarantee that may never come into effect because
Contract Value may never be less than the Guaranteed Minimum Accumulation Benefit Amount, and the possibility that
the Company will be required to pay the Guaranteed Minimum Accumulation Benefit Amount may be minimal"
250,Warranty,0.558,2,"While the Guaranteed Minimum Accumulation Rider provides a guarantee that is designed to provide a minimum
Contract Value, additional Purchase Payments made after the first 12 months of the Accumulation Benefit Period will
not be included in the Accumulation Benefit Base"
251,Warranty,0.395,2,"Any additional Purchase Payments made after the first 12 months
will increase the Contract Value but not the Accumulation Benefit Base and may reduce the likelihood of receiving the
benefit provided by the Guaranteed Minimum Accumulation Rider"
252,Termination,0.335,3,"Subsequent Purchase Payments are not permitted during the Withdrawal Phase of the Accumulation Income
Rider, which means that the Purchase Payments cannot be used at that time to increase Contract Value, the death
benefit or the Accumulation Income Benefit Base"
253,Warranty,0.362,2,"If you select an optional benefit Rider, you are not permitted to invest in the Short-Term Fixed Account"
254,Warranty,0.275,2,"In the
future we may change this restriction or add new ones relating to other Investment Options"
255,Warranty,0.272,2,"Taxes
You can transfer money between Investment Options without tax implications, and earnings (if any) on your
investments are generally tax-deferred"
256,Indemnification,0.355,3,"You are taxed only: (1) when you make a surrender or withdrawal; (2) when
you receive an income payment from the Contract; or (3) upon payment of a death benefit"
257,Confidentiality,0.25,1,"That means Contract
Owners enjoy tax-deferred growth, which provides greater earnings potential as compared to a fully taxable
investment"
258,Termination,0.302,3,"BENEFITS AVAILABLE UNDER THE DEFERRED VARIABLE ANNUITY CONTRACT
The following table summarizes information about the benefits available under the Contract:
 
 
 
 
 
 
Name of Benefit
  
Purpose
  
Is Benefit
Standard or    
Optional
  
Maximum
Fee
  
Brief Description of
Restrictions/Limitations
Standard Death
Benefit
  
Guarantees Beneficiaries will
receive a benefit at least equal to
your Purchase Payments less
adjusted withdrawals
  
Standard
  
No
additional
charge
  
•   Withdrawals could
significantly reduce
benefit
 
 
 
 
 
Enhanced Death
Benefit Rider
  
Provides an enhanced Death
Benefit by locking in market
gains on each Contract
Anniversary until age 80
  
Optional
  
0"
259,Warranty,0.294,2,"75% (as a
percentage
of the
benefit
base)
  
•   Available only at Contract
purchase
 
•   Withdrawals, including
RMDs, could significantly
reduce (perhaps by more
than the amount of the
withdrawal) or terminate
benefit or Contract
 
•   You may not allocate to
the Short-Term Fixed
Account
 
 
 
 
 
Accumulation
Income Rider
  
Provides lifetime income as a
percent of the Accumulation
Income Benefit Base which
periodically locks in market gains
by the use of Automatic
Step-Ups until the Maximum
Step-Up Age
  
Optional
  
2"
260,Warranty,0.364,2,"50% (as a
percentage
of the
benefit
base)
  
•   Available only at Contract
purchase
 
•   Withdrawals, including
RMDs, could significantly
reduce (perhaps by more
than the amount of the
withdrawal) or terminate
benefit or Contract
 
•   Withdrawals under the
optional benefits,
including Guaranteed
Annual Withdrawal
Amounts, are subject to
the surrender charge
rules
 
•   Subsequent Purchase
Payments are not
permitted during the
Withdrawal Phase, which
means that the Purchase
Payments cannot be
used at that time to
increase Contract Value,
the death benefit or the
Accumulation Income
Benefit Base
 
•   You may not allocate to
the Short-Term Fixed
Account
 
 
 
 
 
Guaranteed
Income Rider
  
Provides lifetime or standard
income as a percent of the
Guaranteed Income Benefit
Base, which is adjusted for
guaranteed growth and market
Step-Ups to lock in the positive
market performance
  
Optional
  
2"
261,Termination,0.419,3,"00% (as a
percentage
of the
benefit
base)
  
•   Available only at Contract
purchase
 
•   Withdrawals, including
RMDs, could significantly
reduce (perhaps by more
than the amount of the
withdrawal) or terminate
benefit or Contract
 
•   Withdrawals under the
optional benefits,
including Guaranteed
Annual Withdrawal
Amounts, are subject to
the surrender charge
rules
 
•   You may not allocate to
the Short-Term Fixed
Account
 
14
 
 
 
 
 
Name of Benefit
  
Purpose
  
Is Benefit
Standard or    
Optional
  
Maximum
Fee
  
Brief Description of
Restrictions/Limitations
 
 
 
 
 
Guaranteed
Minimum
Accumulation
Rider
  
Provides a guaranteed minimum
Contract Value at the end of the
benefit period selected with the
possibility of resetting the benefit
period periodically
  
Optional
  
1"
262,Warranty,0.348,2,"50% (as a
percentage
of the
benefit
base)
  
•   Available only at Contract
purchase
 
•   Withdrawals, including
RMDs, could significantly
reduce (perhaps by more
than the amount of the
withdrawal) or terminate
benefit or Contract
 
•   You may not allocate to
the Short-Term Fixed
Account
 
•   Purchase Payments
made after the first 12
months of the
Accumulation Benefit
Period will not be
included in the
Accumulation Benefit
Base"
263,Warranty,0.414,2,"Any additional
Purchase Payments
made after the first 12
months will increase the
Contract Value but not
the Accumulation Benefit
Base and may reduce the
likelihood of receiving the
benefit provided by the
Rider
 
 
 
 
 
Dollar Cost
Averaging
Program
  
Allows you to transfer amounts
automatically from a Fixed Dollar
Cost Averaging Option to
Variable Investment Option(s) so
that the cost of the securities is
averaged over time
  
Optional
  
No
additional
charge
  
•   Must have a Contract
Value of at least $10,000
 
•   Minimum transfer amount
must be at least $50
 
•   Only new Purchase
Payments may be
allocated to the Fixed
Dollar Cost Averaging
Options
 
•   Dollar cost averaging and
automatic asset
rebalancing may not be
elected at the same time
 
 
 
 
 
Automatic Asset
Rebalancing
Program
  
Automatically reallocates your
Contract Value among the
Variable Investment Options in
accordance with the proportions
you originally selected
  
Optional
  
No
additional
charge
  
•   Must have a Contract
Value of at least $10,000
 
•   Dollar cost averaging and
automatic asset
rebalancing may not be
elected at the same time
Subject to the Company’s right to discontinue or suspend the offering of optional benefits for new sales from
time to time, you can purchase the optional benefits described above in addition to your Base Contract"
264,Warranty,0.377,2,"There is an
additional fee for certain of the optional benefits"
265,Termination,0.437,3,"Combining Optional Benefits
You may elect the Enhanced Death Benefit Rider with the Accumulation Income Rider, the Guaranteed
Income Rider, or the Guaranteed Minimum Accumulation Rider"
266,Termination,0.339,3,No other combinations of Riders are permitted
267,Warranty,0.314,2,You may not elect Automatic Asset Rebalancing and Dollar Cost Averaging at the same time
268,Warranty,0.321,2,"BUYING THE DEFERRED VARIABLE ANNUITY CONTRACT
Your financial professional will assist you in completing an application and sending it with a check for your
first Purchase Payment, to our Administrative Office"
269,Warranty,0.301,2,"We accept a complete application to purchase a Contract within two business days after we receive it at our
Administrative Office"
270,Warranty,0.776,2,"If you send us an incomplete application, we will return your Purchase Payment to you within five
business days unless you ask us to keep it while you complete the application"
271,Payment Terms,0.35,2,"All Subsequent Purchase Payments should be sent to the address specified in “How Do I Communicate
With PIA — Contact Information"
272,Indemnification,0.474,3,"”
We reserve the right to limit, suspend, or reject any additional Purchase Payment at any time, but
would do so only on a non-discriminatory basis"
273,Termination,0.369,3,"15
Purchase Payment Requirements
Minimum Purchase Payment
The Contract will not be issued until PIA has received the minimum payment required to open the Contract"
274,Warranty,0.52,2,The table below summarizes the minimum initial and Subsequent Purchase Payment requirements by market type
275,Payment Terms,0.508,2,"Market Type
  Payment Type
  
                         
Non-Qualified / Traditional Stretch IRA /
Roth Stretch IRA
  Minimum Initial Purchase Payment
  
$2,000
  Minimum Subsequent Purchase Payment
 
  
$1,000
 
Traditional IRA / Roth IRA / SEP IRA /
Simple IRA / ERISA Defined Benefit Plan1
  Minimum Initial Purchase Payment
  
$1,0002
  Minimum Subsequent Purchase Payment
  
$2503
 
 
  1
ERISA Defined Benefit Plans must be approved by the Advanced Sales Department prior to opening"
276,Payment Terms,0.214,2,"2
For approved qualified employer-sponsored plans (SEP IRA, Simple IRA, or ERISA Defined Benefit Plan) funding the annuity through payroll
deduction or on-going employer contributions, Initial Purchase Payment requirement must be satisfied by Purchase Payments made in the first
Contract Year"
277,Warranty,0.523,2,"The Contract will be terminated if the Minimum Initial Purchase Payment is not satisfied within 12 months of the issue
date of your Contract, and all Purchase Payments made to date (adjusted for withdrawals) will be returned to you"
278,Warranty,0.479,2,"The amount of Net
Purchase Payments to be refunded will not be adjusted for market gains or losses incurred during this period"
279,Warranty,0.481,2,"3
If SEP IRA, Simple IRA, or ERISA Defined Benefit Plan market types are elected at issue, the minimum Subsequent Purchase Payment is
$250 annually, and $25 per payment minimum under the automatic investment program"
280,Payment Terms,0.367,2,"Maximum Purchase Payment
We will accept up to $2,000,000 in cumulative Purchase Payments"
281,Indemnification,0.219,3,"This limit applies across all variable
annuity contracts issued by the Company and its affiliates for the same Contract Owner (if natural person) or Annuitant"
282,Warranty,0.274,2,We reserve the right to change the amount of cumulative Purchase Payments we will accept
283,Indemnification,0.318,3,"In addition, we reserve
the right to reject any Purchase Payment at any time for any reason"
284,Warranty,0.64,2,"Allocation of Initial and Subsequent Purchase Payments
Your Initial and Subsequent Purchase Payments will be allocated to the Variable Investment Options and to
the Fixed Account Options as you specify in the application for the Contract, unless you direct that the Subsequent
Purchase Payments be allocated otherwise (subject to the limitations with the presence of an optional benefit)"
285,Termination,0.278,3,Subsequent Purchase Payments may be made at any time without prior notice to the Company
286,Warranty,0.612,2,"All Purchase
Payments are subject to the minimum and maximum amount limitations"
287,Warranty,0.493,2,"Allocation of payments may be subject to
limitations if any optional benefits are present"
288,Indemnification,0.318,3,"In addition, we reserve the right to reject any Purchase Payment at any
time for any reason"
289,Warranty,0.672,2,"Owner/Annuitant Requirements
You must specify the Owner and Annuitant information at the time of application, and the name(s) of
Owner(s) and Annuitant(s) that you specify will be displayed on your Contract Specifications Page"
290,Indemnification,0.689,3,"Designation of
Contract Owner(s) and Annuitant(s) will be effective on the Contract Date"
291,Indemnification,0.705,3,"•
  No more than two natural persons may be named in the Contract as Owner(s) and/or Annuitant(s)"
292,Indemnification,0.732,3,"•
  If you are the sole Owner of the Contract, you may designate yourself as an Annuitant, or an
Annuitant other than yourself"
293,Indemnification,0.409,3,"However, if you designate Joint Annuitants, you must be one of the
Annuitants"
294,Indemnification,0.256,3,"•
  If your Contract is owned by an entity, joint ownership is not permitted, and there can only be one
Annuitant"
295,Indemnification,0.575,3,"•
  If your Contract is jointly owned, both Contract Owners must be natural persons"
296,Indemnification,0.509,3,"If the Contract is
jointly owned and there is one Annuitant, he/she must be a Contract Owner"
297,Indemnification,0.594,3,"If the Contract is jointly
owned and there are Joint Annuitants, Annuitants must be the Contract Owners"
298,Indemnification,0.507,3,"16
 
•
  If you are not the Annuitant, you can designate yourself as Contingent Annuitant in the Contract,
and become the Annuitant in the event that the Annuitant dies before the Contract is terminated or
annuitized"
299,Indemnification,0.435,3,"•
  If you purchase an optional benefit in addition to your Base Contract, additional Contract
Owner/Annuitant requirements may apply"
300,Warranty,0.25,2,"Issue Age Requirements
Issue age represented in the Contract is based on the age of the Owner and is determined by Age Nearest
Birthday"
301,Intellectual Property,0.922,2,Age Nearest Birthday is the age rounded to nearest whole number of years
302,Indemnification,0.392,3,"If the Contract is jointly owned,
both Owners must meet the issue age requirements"
303,Indemnification,0.486,3,"If the Owner is an entity, then the issue age represented in the
Contract is based on the age of the Annuitant(s)"
304,Indemnification,0.755,3,Annuitant(s) must also meet the issue age requirements of the Contract
305,Termination,0.367,3,"If you have not elected any available optional benefits under your Contract, the issue age requirement is
0-85"
306,Warranty,0.496,2,"If you wish to elect any available optional benefit, the issue age requirements may be different from the
requirement noted above"
307,Payment Terms,0.249,2,"Please see “Issue Age Requirements” subsection of the appropriate optional benefit section
that applies to you"
308,Warranty,0.33,2,"If you have an optional benefit, you will be subject to the strictest age requirement of your Base
Contract Option/optional benefit combination"
309,Termination,0.286,3,"Tax Free “Section 1035” Insurance Contract Exchanges
Generally, you can exchange one annuity contract for another in a “tax-free exchange” under Section 1035
of the Code"
310,Warranty,0.293,2,"Before making an exchange, you should compare both contracts carefully"
311,Termination,0.351,3,"Remember that if you
exchange another contract for the one described in this Summary Prospectus, you might have to pay a Surrender
Charge on your old contract"
312,Termination,0.385,3,"Also, some charges may be higher (or lower), and the benefits may be different"
313,Confidentiality,0.381,1,"If the
exchange does not qualify for Section 1035 treatment, you may have to pay federal income and penalty taxes as a
result of the exchange"
314,Indemnification,0.37,3,"You should not exchange another contract for this one unless you determine, after knowing all
of the facts, that the exchange is in your best interest"
315,Warranty,0.758,2,"The Surrender Value of your existing contract may be impacted by increases or decreases in contract values
that result from market fluctuations during the period between submission of the exchange request and actual
processing"
316,Warranty,0.651,2,"The Surrender Value may be calculated (by the existing contract issuer) sometime after we receive your
exchange request in good order"
317,Indemnification,0.355,3,"In addition, as we will not issue the new contract until we have received an initial
premium from your existing insurance company, the issuance of the contract in an exchange could be delayed"
318,Warranty,0.785,2,"The Variable Account Value
Your assets in the Separate Account are held as Accumulation Units of the Variable Investment Options that
you select"
319,Warranty,0.423,2,"An Accumulation Unit is a unit of measure used to compute the Variable Account Value under the Contract
prior to the Annuity Date"
320,Warranty,0.624,2,"The Variable Account Value is the sum of the values of the Accumulation Units held in the
Variable Investment Options for this Contract"
321,Warranty,0.285,2,"Accumulation Units — Valuation
We value Accumulation Units as of the close of regular trading on the NYSE (generally, 4:00 p"
322,Warranty,0.669,2,"When
you invest in, withdraw from, or transfer money to a Variable Investment Option, you receive the Accumulation Unit
value next computed after we receive your Purchase Payment or your withdrawal or transfer request at our
Administrative Office"
323,Warranty,0.381,2,"Allocation, withdrawal, and transfer instructions received from you or the agent of record
(pursuant to your instruction) at our Administrative Office after the close of regular trading on the NYSE will be valued
based on the Accumulation Unit value computed as of the close of regular trading on the next NYSE business day"
324,Warranty,0.632,2,"In
the case of your first Purchase Payment, you receive the price next computed after we accept your application to
purchase a Contract"
325,Warranty,0.707,2,"The value of an Accumulation Unit varies and is determined by multiplying its last computed value by the net
investment factor for the Variable Investment Option for the current Valuation Period"
326,Warranty,0.49,2,"The net investment factor
measures (1) investment performance of Portfolio shares held in the Variable Investment Option, (2) any taxes on
income or gains from investments held in the Variable Investment Option, and (3) the Base Contract expenses
assessed against the Variable Investment Option"
327,Warranty,0.565,2,"Therefore, the investment performance of the Portfolios, expenses
and deduction of certain charges will affect the Accumulation Unit value and the number of Accumulation Units"
328,Warranty,0.265,2,"17
The Fixed Account Value
The Fixed Account Value is determined by the total amount of Purchase Payments allocated to the Fixed
Account Options, adjusted by partial withdrawals, transfers, charges and expenses, and accumulated at effective
annual rates declared by the Company, but at no less than the Minimum Guaranteed Interest Rate as described in
Appendix B and specified in your Contract"
329,Warranty,0.725,2,"Contract Value
Your Contract Value is the sum of the Variable Account Value and the Fixed Account Value"
330,Warranty,0.56,2,"Variable Account
Value is the sum of the values of the Accumulation Units held in the Variable Investment Options"
331,Warranty,0.536,2,"Fixed Account Value
is the value of amounts held in all Fixed Account Options (Short-Term Fixed Account and Fixed Dollar Cost Averaging
Options) of the Fixed Account for this Contract"
332,Warranty,0.568,2,"MAKING WITHDRAWALS: ACCESSING THE MONEY IN YOUR DEFERRED VARIABLE ANNUITY CONTRACT
How Can I Withdraw Money from the Deferred Variable Annuity Contract?
General Information on Surrenders and Withdrawals
You may access your Contract Value in one of the following ways:
 
 
•
  by surrendering your Contract and receiving the Surrender Value;
 
 
•
  by taking a partial withdrawal;
 
 
•
  by taking systematic withdrawals;
 
 
•
  by taking RMDs; or
 
 
•
  when you start the annuity payments based on your Contract Value"
333,Warranty,0.397,2,"Before the end of the Surrender Charge Period, you can access a portion of the money in the Contract each
Contract Year without being assessed a Surrender Charge"
334,Warranty,0.434,2,"This is called a Free Withdrawal Amount (see “Surrender-
Charge Free Withdrawals” above)"
335,Warranty,0.338,2,"However, if you decide to withdraw more than the Free Withdrawal Amount or
surrender the Contract during the Surrender Charge Period, you may be assessed a Surrender Charge, as further
described above"
336,Warranty,0.301,2,"Withdrawals will reduce the Contract Value and may have a negative impact on certain optional living
benefits and on the death benefit, and the impact could be significant"
337,Termination,0.279,3,"A withdrawal may reduce or even terminate
certain benefits"
338,Termination,0.374,3,"See “What Are the Supplemental Riders and Benefits That Are Available?”
You may also be subject to tax in the tax year in which you take a withdrawal from your Contract, including a
10% penalty tax under certain circumstances"
339,Governing Law,0.325,1,"See “How Is the Contract Treated Under Federal Income Tax Law?” for
details"
340,Indemnification,0.448,3,"Full Surrender
You can choose to surrender your Contract for its Surrender Value at any time before the death of the
Contract Owner or Annuitant, and on or before the Annuity Date by sending a written request to our Administrative
Office"
341,Indemnification,0.395,3,"Upon your request to surrender the Contract, all benefits under the Contract, including any optional benefits, will
terminate as of the date of receipt of your written request by the Company"
342,Warranty,0.349,2,"You will receive the Surrender Value, which
is your Contract Value reduced by any applicable charges, such as: Surrender Charge, Rider Charges, and Annual
Contract Administration Charge"
343,Warranty,0.317,2,"We base your Surrender Value on your Contract Value next determined after we
receive proper authorization from the Contract Owner at our Administrative Office"
344,Indemnification,0.609,3,"18
We guarantee that upon full surrender, your Surrender Value attributable to the Fixed Accounts will not be
less than the amount required by the applicable state nonforfeiture law at the time the Contract is issued"
345,Indemnification,0.628,3,"Withdrawals Treated as Surrenders
In some circumstances, we reserve the right to treat your withdrawal as a full surrender, or to initiate a
payment of the Surrender Value to you"
346,Termination,0.734,3,This will cause your Contract and any optional benefits to terminate
347,Warranty,0.422,2,"The following withdrawals will be treated as full surrenders:
 
 
•
  Any withdrawal initiated by your request or deduction of fees or charges by the Company that brings
the Contract Value to zero (unless the Guaranteed Income Rider or the Accumulation Income Rider
is present),
 
 
•
  Any withdrawal that would result in the amount remaining in the Contract to be less than the
Minimum Remaining Balance of $2,000, or less than $250 remains in each Variable Investment
Option or Short-Term Fixed Account"
348,Force Majeure,0.197,1,"These rules do not apply to RMDs, Lifetime Withdrawals taken
under the Accumulation Income Rider, or living benefit withdrawals taken under the Guaranteed
Income Rider"
349,Warranty,0.712,2,"Withdrawal requests that would cause the Contract Value to reduce to zero or fall below the Minimum
Remaining Balance will not be processed"
350,Warranty,0.579,2,"You will have the option of processing a full surrender or cancelling your
withdrawal request"
351,Termination,0.429,3,"If the Contract Value is reduced to zero as a result of deduction of fees or charges by the
Company, the Contract will be terminated as of the date of deduction and notification of termination will be made to the
Contract Owner"
352,Indemnification,0.332,3,"We also reserve the right to terminate the Contract and any applicable Death Benefit by initiating a payment
of the Surrender Value to you, if there is no Purchase Payment activity during the two most recent Contract Years, and
the Contract Value is less than the Minimum Remaining Balance specified above"
353,Warranty,0.405,2,"The Company will notify the Contract Owner 60 days prior to terminating the Contract, by sending a notice to
the Contract Owner’s address on file"
354,Payment Terms,0.581,2,A second notice will be sent 30 days prior to the date of termination
355,Termination,0.509,3,"If no action
is taken by the Contract Owner to increase the Contract Value to the required minimum, the Contract will be terminated
by the Company and the Surrender Value will be paid to the Contract Owner"
356,Indemnification,0.272,3,"Partial Withdrawal
You may take a partial withdrawal from your Contract Value on or before the Annuity Date and the death of
the Contract Owner or Annuitant"
357,Warranty,0.298,2,"We base your withdrawal on your Contract Value next determined after we receive
proper authorization from the Contract Owner at our Administrative Office"
358,Indemnification,0.602,3,"We will pay you within seven days, except in
limited circumstances"
359,Payment Terms,0.337,2,"Please see “Deferment of Payments and Transfers” for more information on these limited
circumstances"
360,Indemnification,0.228,3,You may pay a Surrender Charge when you withdraw part of your Contract Value
361,Governing Law,0.323,1,"See the “Surrender
Charge” paragraph under “What Are the Fees and Charges Under the Contract?” for details"
362,Termination,0.248,3,"You may be subject to tax
in the tax year in which you make a withdrawal, including an additional 10% tax under certain circumstances"
363,Governing Law,0.364,1,"See “How
Is the Contract Treated Under Federal Income Tax Law?” below"
364,Warranty,0.394,2,"The following rules and restrictions apply to partial withdrawals:
 
 
•
  Minimum Withdrawal"
365,Warranty,0.427,2,"If it is your first withdrawal in a Contract
Year, the minimum withdrawal is the lesser of the following:
 
 
(a)
Free Withdrawal Amount (as further described under “Surrender-Charge Free
Withdrawals”);
 
 
(b)
RMD amount; or
 
 
(c)
$500"
366,Warranty,0.409,2,"You may take a partial withdrawal only if the amount remaining in
the Contract after the withdrawal is at least equal to the Minimum Remaining Balance of $2,000 and
the balance remaining in the Variable Investment Option or Short-Term Fixed Account from which
the withdrawal is made is at least $250"
367,Termination,0.603,3,"If you take a withdrawal that brings the Contract Value to zero, your Contract
will be terminated (unless the Guaranteed Income Rider is present or the Accumulation Income
Rider is present)"
368,Warranty,0.681,2,"If you do not tell us otherwise, the withdrawal will be taken pro-rata from
the Variable Investment Options, and then any remaining amount will be taken from the Short-Term
Fixed Account"
369,Warranty,0.482,2,"Within the Short-Term Fixed Account, partial withdrawals will be made from amounts
most recently allocated, renewed, or transferred"
370,Warranty,0.807,2,"If there is not enough value in these accounts,
withdrawals will be taken from the Fixed Dollar Cost Averaging Account"
371,Warranty,0.291,2,"Systematic Withdrawals
Systematic withdrawals are regular payments that we make to you on a monthly, quarterly, semi-annual, or
annual basis"
372,Warranty,0.63,2,"It is a convenient way for you to withdraw your annual Free Withdrawal Amount without incurring a
Surrender Charge, as well as to take RMDs or withdrawals under optional benefits"
373,Warranty,0.572,2,"Systematic withdrawals are
available if you have not exhausted your Free Withdrawal Amount in the current Contract Year"
374,Warranty,0.308,2,"Currently, we offer the following systematic withdrawal options:
 
 
•
  Annual Free Withdrawal Amount,
 
 
•
  RMD,
 
 
•
  Guaranteed Annual Withdrawal Amount as specified by the Guaranteed Income Rider and
Accumulation Income Rider,
 
 
•
  Designated Withdrawal Amount (a fixed dollar amount), and
 
 
•
  Substantially Equal Periodic Payments under Code Section 72(q)/(t)"
375,Warranty,0.368,2,"The total amount that you withdraw in a Contract Year under the systematic withdrawal plan cannot exceed
your Free Withdrawal Amount"
376,Warranty,0.41,2,"However, RMD withdrawals and Guaranteed Annual Withdrawal Amounts under the
Guaranteed Income Rider and the Accumulation Income Rider can be taken systematically, even if they exceed your
Free Withdrawal Amount (although Surrender Charges may apply to any amount in excess of the Free Withdrawal
Amount)"
377,Warranty,0.32,2,"The withdrawals can be taken on a monthly, quarterly, semi-annual, or annual basis, and the minimum
amount of each withdrawal payment is $50"
378,Warranty,0.744,2,"We will adjust the frequency of your payments so that payments are at
least $50 each"
379,Warranty,0.315,2,"For example, if you would like to withdraw $100 a year, you can set up annual or semi-annual
withdrawals, but not quarterly or monthly"
380,Warranty,0.633,2,"Your payments will begin on the next withdrawal date following one modal
period after we receive your request"
381,Warranty,0.58,2,"For example, if we receive your request for quarterly withdrawals on January 3,
and the next withdrawal date is the 8th of the month, your quarterly withdrawals will begin on April 8"
382,Payment Terms,0.592,2,"Please note that
no confirmations will be sent on systematic withdrawals but will be reflected on statements"
383,Governing Law,0.225,1,"For information on the tax
treatment of withdrawals, see “How Is the Contract Treated Under Federal Income Tax Law?” below"
384,Warranty,0.385,2,"In the Contract Year when the systematic withdrawals are elected for the first time, the entire amount of the
withdrawal requested will be disbursed among the remaining systematic withdrawal payments to be made prior to the
next Contract Anniversary"
385,Warranty,0.313,2,"Systematic withdrawal amounts will then be recalculated upon the next Contract
Anniversary to reflect the annual withdrawal amount requested and a full year of systematic payments"
386,Warranty,0.555,2,"For example, if
you request your Free Withdrawal Amount be withdrawn with monthly systematic withdrawals and there are four
months remaining in your Contract Year, you will receive the entire Free Withdrawal Amount divided by the four
payments remaining in your Contract Year"
387,Warranty,0.371,2,"Upon your next Contract Anniversary, your monthly systematic withdrawal
payment will be recalculated to be 1/12 of the annual Free Withdrawal Amount"
388,Warranty,0.29,2,"This could result in lower systematic
withdrawal payments in your second year of withdrawal"
389,Warranty,0.407,2,"The Free Withdrawal Amount will not be recalculated to reflect
Subsequent Purchase Payments until the next Contract Anniversary"
390,Warranty,0.681,2,"If you do not tell us otherwise, the withdrawal will be taken pro-rata from the
Variable Investment Options, and then any remaining amount will be taken from the Short-Term Fixed Account"
391,Warranty,0.482,2,"Within
the Short-Term Fixed Account, partial withdrawals will be made from amounts most recently allocated, renewed, or
transferred"
392,Warranty,0.807,2,"If there is not enough value in these accounts, withdrawals will be taken from the Fixed Dollar Cost
Averaging Account"
393,Warranty,0.653,2,"To stop the systematic withdrawals or to change the amount or
the frequency of the withdrawals once systematic withdrawals are initiated, you must submit a request by sending a
written notice to our Administrative Office or calling Customer Service"
394,Indemnification,0.574,3,"The systematic withdrawals will terminate upon
the earlier of the death of the Contract Owner or the Annuitant, or upon Contract Owner’s request"
395,Warranty,0.62,2,"Systematic
withdrawals will be subject to Surrender Charge if the annual amount withdrawn exceeds the Free Withdrawal Amount"
396,Warranty,0.556,2,"All withdrawals during the Contract Year are considered in the determination of the Free Withdrawal Amount withdrawn
and the point at which Surrender Charges will be assessed for additional withdrawals"
397,Indemnification,0.198,3,"Substantially Equal Periodic Payments under Code Sections 72(q) or 72(t)
If a withdrawal is taken from the annuity contract before age 59 1⁄2, the IRS generally imposes a 10% early
withdrawal penalty on such distributions"
398,Force Majeure,0.222,1,"However, substantially equal periodic payments under Code Section 72(q) or
72(t) are exempt from the 10% penalty tax on early distributions"
399,Confidentiality,0.344,1,"If you choose to exercise this option, you will be
required to irrevocably choose one of the three acceptable methods (as defined by IRS guidance) and receive these
payments until the later of five years or attainment of age 59 1⁄2"
400,Indemnification,0.346,3,"If you wish to take withdrawals under Code Sections 72(q) or 72 (t) (prior to age 59 1⁄2 of the Contract
Owner, or Annuitant for entity owned Contracts), you may do so systematically"
401,Indemnification,0.298,3,"Section 72 (q)/(t) withdrawals do not
receive any special treatment under the Surrender Charge provision"
402,Warranty,0.329,2,"If your withdrawal exceeds the annual Free
Withdrawal Amount, you will be subject to Surrender Charges as shown in the “Surrender Charge” section under “What
Are the Fees and Charges Under the Contract?” If you purchased an optional benefit with your Contract, please refer
to the appropriate optional benefit section for details on substantially equal periodic payments’ treatment under your
optional benefit"
403,Warranty,0.306,2,"Revocation Rights
If you are a new purchaser of a Contract, you may cancel your Contract within 10 days of receiving it without
paying fees or penalties"
404,Termination,0.325,3,If the Contract is a “Replacement Contract” (i
405,Termination,0.502,3,", it has been purchased with the proceeds
from the surrender of another annuity contract you own), it may be cancelled within 30 days of receipt"
406,Indemnification,0.576,3,"In either
situation, simply mail the Contract to the Company or the financial professional through whom it was purchased, along
with a written request to cancel the Contract based on this provision"
407,Indemnification,0.686,3,"The Company will refund the amount calculated in
accordance with state law, which is generally the Contract Value and any fees or charges deducted as of the date the
notification and the Contract are received"
408,Warranty,0.619,2,"What Is Annuitization and How Do I Annuitize the Deferred Variable Annuity Contract?
Annuitization
Annuitization is a process by which your Contract Value is converted into a stream of regular income
payments"
409,Termination,0.468,3,You may choose to annuitize your Contract after the first Contract Anniversary
410,Warranty,0.466,2,"The Guaranteed Income
Rider and the Accumulation Income Rider may impose different Annuitization and maturity processing requirements
than described below"
411,Termination,0.281,3,"Partial Annuitization on Non-Qualified Contracts
Partial Annuitization is an irrevocable election by the Contract Owner to apply only a portion of the Contract
Value to purchase a stream of annuity payments under the Contract, leaving the remainder of the Contract Value to
accumulate on a tax-deferred basis"
412,Termination,0.369,3,"Partial Annuitization is only available on Non-Qualified Contracts, on or after the third Contract Anniversary"
413,Warranty,0.64,2,"Partial Annuitization will be processed as of the date the written request from the Contract Owner and all required
documentation is received by the Company"
414,Warranty,0.489,2,"If you enter the Withdrawal Phase under either the Guaranteed Income Rider or the Accumulation Income
Rider, partial Annuitization is no longer available to you"
415,Indemnification,0.217,3,"You may only elect three partial Annuitizations during the life of your Contract, and at least 12 months must
elapse between partial Annuitizations"
416,Warranty,0.452,2,"The amount requested for partial Annuitization must be at least $5,000 and
cannot exceed 50% of your Contract Value"
417,Warranty,0.278,2,"21
Partial Annuitization will decrease the Contract Value and Surrender Charge Basis dollar-for-dollar; it will
decrease the death benefit base proportionately or dollar-for-dollar, whichever is greater"
418,Force Majeure,0.312,1,Amounts applied to partial Annuitization are not subject to Surrender Charges
419,Termination,0.327,3,"They are also not taxed as a
withdrawal under the deferred Contract provided the Annuitization option includes a life contingency"
420,Indemnification,0.455,3,"Annuitized and non-annuitized portions of the Contract will be treated as separate Contracts for tax and
administrative purposes, and different Annuity Dates will be established with respect to the annuitized and
non-annuitized portions of the Contract"
421,Warranty,0.419,2,"For exclusion ratio purposes, “investment in the contract” will be allocated proportionately between the
annuitized and non-annuitized portions of the Contract"
422,Indemnification,0.245,3,"This proportional allocation will also apply for other tax
treatment purposes under Code Section 72 governing the exclusion ratio, investment in the contract, expected return,
annuity starting date, and amounts not received as an annuity"
423,Confidentiality,0.282,1,"To be eligible for the exclusion ratio, the amounts must be received as an annuity for a period of 10 years or
more, or for life"
424,Indemnification,0.478,3,"We may change Contract provisions related to partial Annuitization, if required by IRS regulations or other
applicable laws"
425,Warranty,0.462,2,"Annuity Date
The Annuity Date is the date on which annuity payments begin, transitioning from the accumulation phase to
the Annuitization phase, based on the elected Annuity option or the default option"
426,Payment Terms,0.521,2,"The date annuity payments are
scheduled to begin is shown on your Contract Specifications Page"
427,Payment Terms,0.311,2,"Unless another Annuity Date was specified on the
application or requested later by written notification, the Annuity Date will be set to the later of (a) the first Monthly
Anniversary following the younger Annuitant reaching the Maturity Age, or (b) the 10th Contract Anniversary"
428,Payment Terms,0.256,2,"The
Annuity Date must be at least one year after the Contract Date"
429,Payment Terms,0.826,2,"You may change the Annuity Date by sending a written request to our Administrative Office, which must be
received by us at least 30 days before the current Annuity Date"
430,Indemnification,0.404,3,"On the Annuity Date, the Contract Value, net of premium taxes if applicable, must be annuitized"
431,Indemnification,0.379,3,"Upon your
request or on the Annuity Date described in your Contract, you may apply the Contract Value to any of the annuity
options available in the “Annuity Options” section of the Contract, at guaranteed annuity rates described in the
Contract"
432,Termination,0.413,3,You can also elect to surrender the Contract and receive the Surrender Value
433,Indemnification,0.64,3,"Any Contract Value applied to
an Annuity Option on the Annuity Date will become part of the Company’s general account, which is subject to the
claims of the Company’s creditors"
434,Warranty,0.494,2,A notification that an Annuity option must be selected will be sent to you 60 days prior to your Annuity Date
435,Payment Terms,0.613,2,You must select an Annuity option and notify us of your election at least 30 days prior to the Annuity Date
436,Warranty,0.754,2,"In the event
no response is received from you, and if the Annuity Date is less than the maximum maturity date, the Annuity Date will
be changed to the maximum maturity date"
437,Warranty,0.77,2,"If the maximum maturity date has been reached, and you did not specify an
Annuity option, the Contract Value will be annuitized on the Annuity Date based on an applicable default option"
438,Warranty,0.591,2,"If the
Guaranteed Income Rider or the Accumulation Income Rider is in force on the Annuity Date, the default option will be
determined by the state of the optional benefit features at the time"
439,Termination,0.324,3,"If the Guaranteed Income Rider or the
Accumulation Income Rider is not in force on the Annuity Date, the default option is the Life Annuity with Period Certain
of 10 years"
440,Warranty,0.437,2,"Annuity Options
On or after the first Contract Anniversary, you may choose to annuitize your Contract and apply your
Contract Value to one of the following fixed Annuity options at guaranteed annuity rates described in the Contract:
 
 
•
  Period Certain-Only Option"
441,Confidentiality,0.369,1,"Provides periodic income payments for a guaranteed period ranging
from five to 30 years (the guaranteed period may not exceed the Annuitant’s life expectancy as
defined by the IRS Life Expectancy Table for Qualified Contracts)"
442,Indemnification,0.388,3,"If the Annuitant dies prior to the
end of the guaranteed period, payments will continue to be paid to the designated Beneficiary(ies)
until the end of the guaranteed period"
443,Indemnification,0.434,3,Provides periodic payments guaranteed for the lifetime of the Annuitant
444,Indemnification,0.269,3,"The last
payment will be the one that is due before the Annuitant’s death"
445,Indemnification,0.456,3,"Upon the death of the Annuitant,
payments will cease and there will be no payments made to any Beneficiary"
446,Warranty,0.42,2,"If the Annuitant dies
before the first payment has been made, then no payments will be made under this option"
447,Indemnification,0.366,3,"Provides periodic income payments for the lifetime of the Annuitant,
which are guaranteed for a period of time (“Period Certain”)"
448,Termination,0.266,3,"The guaranteed period can range from
five to 30 years"
449,Indemnification,0.494,3,"If the Annuitant dies prior to the end of the Period Certain, payments will continue to
be paid to the designated Beneficiary(ies) until the end of the Period Certain"
450,Indemnification,0.284,3,"If the Annuitant lives
longer than the Period Certain, payments will continue until the Annuitant dies, but there will be no
payment to any Beneficiary"
451,Indemnification,0.714,3,"Provides periodic payments for the lives of the Annuitant and the
Joint Annuitant"
452,Intellectual Property,0.328,2,"Upon the death of either Annuitant, and based on the percentage initially selected,
payments will continue at a level of 100%, 75%, 66 2/3%, or 50% of the original benefit amount for
the lifetime of the surviving Annuitant"
453,Indemnification,0.481,3,"The initial payment will be made if either the Annuitant or the
designated second Annuitant are living"
454,Indemnification,0.445,3,"Subsequent payments will continue during the joint lives of
the Annuitants and thereafter during the life of the surviving Annuitant"
455,Payment Terms,0.373,2,"Payments will end with the
last payment due before the death of the last Annuitant to die"
456,Payment Terms,0.333,2,"After the deaths of both Annuitants,
payments will cease and there will be no payments to any Beneficiary"
457,Warranty,0.366,2,"If both Annuitants die before
the first payment has been made, then no payments will be made under this option"
458,Indemnification,0.518,3,"•
  Any other form of annuity that you and we may agree upon"
459,Warranty,0.463,2,"If the maximum maturity date has been reached, and an Annuity option has not been specified by the
Contract Owner, the Contract Value will be annuitized on the Annuity Date based on a Life Annuity with Period Certain
of 10 years (default option) unless otherwise provided under the Code"
460,Warranty,0.318,2,"Annuity Payments
The Contract Value on the day immediately preceding the Annuity Date, and the guaranteed annuity rates
described in the Contract, will be used to determine the annuity payment"
461,Warranty,0.364,2,"If your Contract Value to be applied to the
selected Annuity option on the Annuity Date is less than $5,000, we may pay you such amount in a lump sum"
462,Warranty,0.553,2,"The size of annuity payments is determined by a number of factors, including the amount of your
investment, your age at the time of Annuitization, the form of annuity chosen, the expected length of the annuity period,
the frequency of annuity payments and their duration, and a guaranteed rate of return"
463,Payment Terms,0.726,2,"After annuity payments begin,
no withdrawals may be made other than receipt of annuity payments"
464,Warranty,0.593,2,"The Annuity option cannot thereafter be changed,
and the size of your annuity payments will not change"
465,Indemnification,0.45,3,"The annuity benefits at the time of their commencement will not be less than those that would be provided
by the application of the Surrender Value to purchase a single premium immediate annuity contract at purchase rates
offered by the Company at the time to the same class of Annuitants"
466,Payment Terms,0.912,2,Annuity payments will generally start within 30 days after the Annuity Date
467,Indemnification,0.317,3,"We usually make annuity
payments monthly, but we will pay you quarterly, semi-annually, or annually, if you prefer"
468,Warranty,0.467,2,"The less frequently we make
payments, the larger each payment will be"
469,Warranty,0.759,2,"If necessary, we will adjust the frequency of your payments so that
payments are at least $50 each"
470,Indemnification,0.266,3,"For information on the tax treatment of annuity payments, see “How Is the Contract
Treated Under Federal Income Tax Law?” Payments under all options will be made to or at the direction of the Contract
Owner and may be elected as early as the first Contract Anniversary"
471,Warranty,0.274,2,"ADDITIONAL INFORMATION ABOUT FEES
The following tables describe the fees and expenses that you will pay when buying, owning, and
surrendering or making withdrawals from the Contract"
472,Warranty,0.467,2,"Please refer to your Contract Specifications Page for
information about the specific fees you will pay each year based on the options you have elected"
473,Warranty,0.612,2,"The first table describes the fees and expenses that you will pay at the time that you buy the
Contract, surrender, or make withdrawals from the Contract, or transfer Contract Value between Investment
Options"
474,Termination,0.225,3,"1
 
23
Transaction Expenses
 
Sales Load Imposed on Purchases (as a percentage of Purchase Payments)
    None 
Maximum Surrender Charges (as a percentage of Purchase Payment surrendered)
   8"
475,Intellectual Property,0.319,2,"00%2 
Maximum Transfer Fee
   
$203 
  
1
As of the date of this Summary Prospectus state premium taxes generally range from 0"
476,Warranty,0.291,2,"2
Surrender Charges are expressed as a percentage of the amount of the Purchase Payment surrendered and may vary by state"
477,Warranty,0.556,2,"The percentage
charge we use is determined by the number of years since receipt of the Purchase Payment to which the charge relates if you make a
withdrawal or surrender your Contract to receive its cash value"
478,Intellectual Property,0.612,2,"Number of full years since
Purchase Payment
  
Applicable
Surrender Charge
 
0
  
8"
479,Intellectual Property,0.339,2,"00%
 
3
For transfers other than Dollar Cost Averaging and Automatic Asset Rebalancing, the transfer fee is currently $0"
480,Indemnification,0.431,3,"We reserve the right to restrict
frequency of transfers or market timing in our sole discretion, and to impose a transfer fee in the future"
481,Confidentiality,0.376,1,"Any transfer fee we impose would not
exceed $20"
482,Warranty,0.376,2,"The next table describes the fees and expenses that you will pay each year during the time that you
own the Contract (not including Portfolio fees and expenses)"
483,Warranty,0.348,2,"If you choose to purchase an optional benefit, you will pay additional charges, as shown below"
484,Warranty,0.324,2,"The
charges shown below represent the maximum fees for each of the optional benefits"
485,Force Majeure,0.275,1,"The current charges are
shown in the accompanying footnotes"
486,Intellectual Property,0.33,2,"Annual Contract Expenses
 
Administrative Expenses
   
$401 
Base Contract Expenses (as a percentage of Variable Account Value)2
   1"
487,Intellectual Property,0.313,2,"40% 
Optional Benefit Expenses (as a percentage of benefit base or Variable Account Value as applicable):   
Accumulation Income Rider
   2"
488,Intellectual Property,0.306,2,"75%5 
Guaranteed Minimum Accumulation Rider
   1"
489,Warranty,0.698,2,"00% of the Variable Account Value, whichever is less"
490,Warranty,0.386,2,"You do not pay this charge if your Variable Account Value is $50,000 or
more"
491,Intellectual Property,0.205,2,"2
Amount shown does not include any optional benefit Riders"
492,Intellectual Property,0.434,2,"3
The current annual charge for the Accumulation Income Rider is 1"
493,Termination,0.261,3,"The
charge is expressed as an annual percentage; it will be assessed on the Accumulation Income Benefit Base and will be deducted from the
Contract Value on a quarterly basis"
494,Termination,0.307,3,"4
The current annual charge for the Guaranteed Income Rider is 1"
495,Termination,0.261,3,"The
charge is expressed as an annual percentage; it will be assessed on the Guaranteed Income Benefit Base and will be deducted from the
Contract Value on a quarterly basis"
496,Intellectual Property,0.448,2,"5
The current annual charge for the Enhanced Death Benefit Rider is 0"
497,Warranty,0.261,2,"The charge is expressed as an annual percentage; it will be
assessed on the Enhanced Death Benefit Base and will be deducted from the Contract Value on a quarterly basis"
498,Warranty,0.285,2,"6
The current annual charge for the Guaranteed Minimum Accumulation Rider is 0"
499,Warranty,0.259,2,"The charge is expressed as an annual percentage; it will
be assessed on the Accumulation Benefit Base and will be deducted from the Contract Value on a quarterly basis"
500,Warranty,0.295,2,"24
Portfolios’ Annual Operating Expenses
The next table shows the minimum and maximum total operating expenses charged by the
Portfolios that you may pay periodically during the time that you own the Contract"
501,Confidentiality,0.277,1,"Portfolio expenses may be
higher or lower in the future"
502,Indemnification,0.364,3,"A complete list of Portfolios available under the Contract, including their annual
expenses, may be found in Appendix A to this Summary Prospectus"
503,Intellectual Property,0.348,2,"Annual Portfolio Expenses1
  
Minimum  
Maximum
(expenses that are deducted from Portfolio assets, including management fees,
distribution (12b-1) fees, and other expenses)
  
0"
504,Intellectual Property,0.677,2,"41%
  
1
Expressed as a percentage of average net assets for the fiscal year ended December 31, 2022"
505,Payment Terms,0.38,2,"Fund expenses may be higher or lower in the
future"
506,Warranty,0.336,2,"This information is provided by the Portfolios and their agents, and is based on the expenses of each Portfolio’s most recently completed
fiscal year"
507,Warranty,0.489,2,"EXAMPLES
These examples are intended to help you compare the cost of investing in the Contract with the cost of
investing in other variable annuity contracts"
508,Confidentiality,0.283,1,"These costs include transaction expenses, annual Contract expenses, and
annual Portfolio expenses"
509,Warranty,0.653,2,"The examples assume that you invest $100,000 in the Contract for the time periods indicated"
510,Warranty,0.663,2,"The
Example also assumes that your investment has a 5"
511,Warranty,0.473,2,"The maximum expenses examples
assume the most expensive combination of annual Portfolio expenses and optional benefits available for an
additional charge"
512,Warranty,0.483,2,"The minimum expenses examples assume the least expensive annual Portfolio expenses
and that no optional benefits are purchased"
513,Termination,0.441,3,"Although your actual costs may be higher or lower, based on
these assumptions, your costs would be:
Maximum Expenses Examples
If you surrender your Contract at the end of the applicable time period and have purchased optional benefits
with maximum charges1:
 
          
  
                                         
  
One
      Year        
Three
      Years        
Five
      Years        
Ten
      Years      
  
Deferred Variable Annuity
  
$12,251
  
$20,844
  
$29,852
  
$55,282
If you do not surrender your Contract or if you annuitize at the end of the applicable time period and you
have purchased optional benefits with maximum charges1:
 
          
  
                                         
  
One
      Year        
Three
      Years        
Five
      Years        
Ten
      Years      
  
Deferred Variable Annuity
  
$5,059
  
$15,481
  
$26,317
  
$55,282
Minimum Expenses Examples
If you surrender your Contract at the end of the applicable time period and have not purchased any optional
benefits2:
 
          
  
                                         
  
One
      Year        
Three
      Years        
Five
      Years        
Ten
      Years      
  
Deferred Variable Annuity
  
$8,736
  
$10,172
  
$11,837
  
$18,015
 
25
If you do not surrender your Contract or if you annuitize at the end of the applicable time period and have
not purchased any optional benefits2:
 
          
  
                                         
  
One
      Year        
Three
      Years        
Five
      Years        
Ten
      Years      
  
Deferred Variable Annuity
  
$1,536
  
$4,772
  
$8,237
  
$18,015
 
 
1   Assumes the Accumulation Income Rider and the Enhanced Death Benefit Rider are purchased and maximum Rider Charges of 3"
514,Warranty,0.53,2,"This
Example also assumes maximum Portfolio expenses of 0"
515,Warranty,0.711,2,2   Assumes that no optional benefit Riders are purchased and minimum Portfolio expenses of 0
516,Warranty,0.245,2,Certain Contract charges are currently assessed at less than their maximum levels
517,Warranty,0.31,2,"We may increase these
current charges in the future up to the guaranteed maximum levels, as determined in the Company’s sole discretion"
518,Confidentiality,0.362,1,"Without limiting the foregoing, the Company may increase current charges due to the Company’s experience with
respect to mortality, expenses, taxes, persistency, capital requirements, reserve requirements, and changes in
applicable laws"
519,Warranty,0.378,2,"Although some Portfolios may have expense limitation agreements, the operating expenses of the
Portfolios are not guaranteed and may increase or decrease over time"
520,Warranty,0.221,2,"26
 
APPENDIX A
PORTFOLIO COMPANIES AVAILABLE UNDER THE DEFERRED VARIABLE ANNUITY CONTRACT
The following is a list of Portfolios available under the Contract"
521,Warranty,0.447,2,"More information about the Portfolios is
available in the prospectuses for the Portfolios, which may be amended from time to time and can be found online at
www"
522,Intellectual Property,0.377,2,com/for-individuals-and-businesses/products-and-performance/performance-and-rates
523,Warranty,0.738,2,"You can also
request this information at no cost by calling 1-800-523-0650 or by sending an email request to
FundOperations@pennmutual"
524,Warranty,0.36,2,"The current expenses and performance information below reflects fees and expenses of the Portfolios, but
does not reflect the other fees and expenses that your Contract may charge"
525,Warranty,0.398,2,"Expenses would be higher and
performance would be lower if these other charges were included"
526,Confidentiality,0.422,1,"Each Portfolio’s past performance is not necessarily
an indication of future performance"
527,Intellectual Property,0.28,2,"PORTFOLIO
TYPE
  
PORTFOLIO AND
ADVISER/SUBADVISER
  
CURRENT
    EXPENSES      
AVERAGE ANNUAL TOTAL
RETURNS (as of 12/31/2022)
   1 YEAR      5 YEAR      10 YEAR   
Vanguard Variable Insurance Fund
Domestic
Large Blend
  
Equity Index Portfolio
 
The Vanguard Group, Inc"
528,Intellectual Property,0.39,2,"40%
Domestic
Large Blend
  
Total Stock Market Index Portfolio
 
The Vanguard Group, Inc"
529,Intellectual Property,0.287,2,"92%
Intermediate-
Term Bond
  
Global Bond Index Portfolio
 
The Vanguard Group, Inc"
530,Intellectual Property,0.36,2,"12%
  
N/A
Domestic Mid
Blend
  
Mid-Cap Index Portfolio
 
The Vanguard Group, Inc"
531,Intellectual Property,0.526,2,"95%
Moderate
Allocation
  
Moderate Allocation Portfolio
 
The Vanguard Group, Inc"
532,Confidentiality,0.289,1,"14%
Intermediate-
Term Bond
  
Total Bond Market Index Portfolio
 
The Vanguard Group, Inc"
533,Intellectual Property,0.449,2,"92%
International
Large Blend
  
Total International Stock Market Index
Portfolio
 
The Vanguard Group, Inc"
534,Intellectual Property,0.473,2,"01%
  
N/A
Conservative
Allocation
  
Conservative Allocation Portfolio
 
The Vanguard Group, Inc"
535,Intellectual Property,0.652,2,"52%
Moderate
Allocation
  
Balanced Portfolio
 
Wellington Management Company LLP
(Adviser)
  
0"
536,Intellectual Property,0.727,2,"41%
Domestic
Large Growth
  
Capital Growth Portfolio
 
PRIMECAP Management Company
(Adviser)
  
0"
537,Intellectual Property,0.471,2,"75%
Domestic
Large Value
  
Diversified Value Portfolio
 
Hotchkis and Wiley Capital
Management LLC (Adviser) and Lazard
Asset Management LLC (Adviser)
  
0"
538,Intellectual Property,0.517,2,"08%
 
A-1
PORTFOLIO
TYPE
  
PORTFOLIO AND
ADVISER/SUBADVISER
  
CURRENT
    EXPENSES      
AVERAGE ANNUAL TOTAL
RETURNS (as of 12/31/2022)
   1 YEAR      5 YEAR      10 YEAR   
Domestic
Large Value
  
Equity Income Portfolio
 
Wellington Management Company
LLP (Adviser) and The Vanguard
Group, Inc"
539,Intellectual Property,0.8,2,"58%
Domestic
Large Growth
  
Growth Portfolio
 
Wellington Management Company
LLP (Adviser)
  
0"
540,Intellectual Property,0.236,2,"49%
High Yield
Bond
  
High Yield Bond Portfolio
 
Wellington Management Company
LLP (Adviser) and The Vanguard
Group, Inc"
541,Intellectual Property,0.473,2,"64%
International
Large Growth
  
International Portfolio
 
Baillie Gifford Overseas Ltd"
542,Confidentiality,0.244,1,"(Adviser)
and Schroder Investment
Management North America Inc"
543,Intellectual Property,0.344,2,"58%
Real Estate
  
Real Estate Index Portfolio
 
The Vanguard Group, Inc"
544,Intellectual Property,0.454,2,"36%
Domestic
Small Growth
  
Small Company Growth Portfolio
 
ArrowMark Colorado Holdings LLC
(Adviser) and The Vanguard Group,
Inc"
545,Warranty,0.593,2,"06%
 
A-2
The Prospectus and Statement of Additional Information (the “SAI”) include additional information about the
Deferred Variable Annuity Contract"
546,Payment Terms,0.357,2,"These documents are available without charge upon request from The Penn
Insurance and Annuity Company, Attn: SAI Request, PO Box 178, Philadelphia, Pennsylvania 19105"
547,Payment Terms,0.297,2,"Or you can call
us toll-free at 1-800-523-0650 or visit our website at www"
548,Governing Law,0.335,1,"The Prospectus and SAI, both dated [insert
date] are incorporated by reference into this Summary Prospectus and, therefore, both are legally a part of this
Summary Prospectus"
549,Warranty,0.562,2,The SEC EDGAR Contract Identifier for the Deferred Variable Annuity Contract is C000245971