Fixed index annuity review and rates

Protective Guaranteed Income Indexed Annuity

The Protective Guaranteed Income Indexed Annuity is a limited flexible premium deferred indexed annuity. Limited flexible premium means that you may — but are not required to — send additional premium, but only during the first contract year.

Annuitization Options
All are available for single or joint life.
  • Lifetime income
  • Specific term (certain period)
  • Lifetime income with a specific term (certain period)
  • Lifetime income with a cash refund
  • Lifetime income with an installment refund (principal refund) 
Annuity income payments must begin before any owner or annuitant reaches age 95 and, generally, cannot be altered or surrendered once begun.

Minimum Surrender Value
minimum surrender value is guaranteed when the contract is terminated due to full surrender, death, or annuitization. This amount is calculated by:
  • Taking 87.5% of aggregate purchase payments accumulated at the contract’s non-forfeiture rate, which cannot be less than 1% or more than 3%, and
  • Subtracting any prior aggregate withdrawals accumulated at the non-forfeiture rate.
Available in states: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
1.05% Fixed
1-Year S&P 500 PTP Cap for Term
Point to Point
Annual
1.95% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
2.05% Cap
2-Year Citi Flexible Allocation 6 ER PTP Participation Rate
Point to Point
Biennial
50% Participation
1-Year Fixed Account
Fixed
1.2% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
2.35% Cap
2-Year Citi Flexible Allocation 6 ER PTP Participation Rate
Point to Point
Biennial
55% Participation
1-Year S&P 500 PTP Cap for Term
Point to Point
Annual
2.25% Cap

Surrender schedule

Year 1 2 3 4 5 6 7 8 9 10
Penalty 9% 9% 8% 7% 6% 5% 4% 3% 2% 1%

Riders

Name Inbuilt Fee
Protective Level Income 15 (Defer bonus) Yes 1.20% annually (2.00% max)
Protective Rising Income 15 (Defer bonus) Yes 1.20% annually (2.00% max)
Protective Life Insurance Company
Founded: 1907
A.M. Best: A+
Fitch: AA-
S&P: A+
Moody's: A1
Carrier details
Free withdrawal
10%
Surrender schedule
10 years
Return of premium
Market value adjustment
Minimum contribution
$25,000
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, IRA-Roth, and 1035 Exchange