Protective Guaranteed Income Indexed Annuity
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Learn how an annuity can provide guaranteed income for life.
Highlights
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.
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:
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
|
Type
|
Fixed Index
|
|---|---|
|
Term
|
10 Years |
|
Surrender schedule
|
9%9%8%7%6%5%4%3%2%1% |
|
Free withdrawal
|
10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Minimum contribution
|
$25,000 |
|
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, IRA-Roth, and 1035 Exchange |
Brochure
|
Open brochure |
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
2.65%
Fixed
|
| 1-Year S&P 500 PTP Cap for Term |
Point to Point
Annual
|
2.7%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
2.95%
Cap
|
| 2-Year Citi Flexible Allocation 6 ER PTP Participation Rate |
Point to Point
Biennial
|
50%
Participation
|
| 1-Year Fixed Account |
Fixed
|
2.8%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
3.25%
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
|
3%
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) |