Fixed index annuity review and rates

Protective Income Builder

The Protective Income Builder is a Single Premium Deferred Indexed Annuity with a 7-year surrender charge period and a market value adjustment provision. Additional premiums are accepted during the first policy 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. 
Available in states: AL, AK, AZ, AR, CA, CO, CT, DE, 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
1.85% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
4.95% Cap
2-Year Citi Flexible Allocation 6 ER PTP Participation Rate
Point to Point
Biennial
92% Participation
1-Year S&P 500 PTP Cap for Term
Point to Point
Annual
3.95% Cap
1-Year S&P 500 Performance Triggered
Performance Triggered
Annual
3.2% Performance triggered
1-Year Fixed Account
Fixed
2% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
5.25% Cap
2-Year Citi Flexible Allocation 6 ER PTP Participation Rate
Point to Point
Biennial
100% Participation
1-Year S&P 500 PTP Cap for Term
Point to Point
Annual
4.25% Cap
1-Year S&P 500 Performance Triggered
Performance Triggered
Annual
3.5% Performance triggered

Surrender schedule

Year 1 2 3 4 5 6 7
Penalty 7% 6% 5% 4% 3% 2% 1%

Riders

Name Inbuilt Fee
Protective Level Income Rider Yes 1.00% annually (2.00% max)
Protective Rising Income Rider Yes 1.00% 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
7 years
Return of premium
Market value adjustment
Minimum contribution
$25,000
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, and 1035 Exchange