Fixed annuity review and rates
Protective Smart Saver NY
The Protective Smart Saver fixed annuity is a limited flexible premium deferred fixed annuity. Limited flexible premium means that you may — but are not required to — contribute additional premiums, but only during the first contract year. And, with the power of tax deferral, your annuity earns interest that isn't taxed until you make a withdrawal. This allows interest earned on your contributions to also earn interest, compounding your earnings every year!
The Protective Smart Saver Fixed Annuity can help build your retirement income through a stream of income payments guaranteed to last as long as you live. The Smart Saver annuity provides you with:
The Protective Smart Saver Fixed Annuity can help build your retirement income through a stream of income payments guaranteed to last as long as you live. The Smart Saver annuity provides you with:
- Optional pre-determined death benefit distribution
- Tax-deferred and compounded growth
- Guarantee of principal
- Access to cash when you need it
Premium Amount
- Minimum: $25,000
- Minimum Additional: $50
- Maximum: $1 million
Penalty-Free Withdrawals
During the first contract year, the free withdrawal amount is equal to 10% of the Initial Purchase Payment. In subsequent years it is equal to 10% of the Contract Value on Contract Anniversary. Non-cumulative.
Return of Purchase Payment
Upon full surrender and before starting annuity income payments, 100% of your purchase payments will be returned to the contract owner (less any prior withdrawals or investment taxes, if applicable).
During the first contract year, the free withdrawal amount is equal to 10% of the Initial Purchase Payment. In subsequent years it is equal to 10% of the Contract Value on Contract Anniversary. Non-cumulative.
Return of Purchase Payment
Upon full surrender and before starting annuity income payments, 100% of your purchase payments will be returned to the contract owner (less any prior withdrawals or investment taxes, if applicable).
Interest Rates
| Guaranteed Years | Surrender Years | Guaranteed Yield | Current Yield |
|---|---|---|---|
| 4 | 4 | 1.7% | 1.7% |
| 4 | 4 | 2% | 2% |
| 4 | 4 | 2.3% | 2.3% |
| 5 | 5 | 2.75% | 2.75% |
| 5 | 5 | 2.45% | 2.45% |
| 5 | 5 | 2.15% | 2.15% |
| 6 | 6 | 2.25% | 2.25% |
| 6 | 6 | 2.55% | 2.55% |
| 6 | 6 | 2.8% | 2.8% |
| 7 | 7 | 2.85% | 2.85% |
| 7 | 7 | 2.6% | 2.6% |
| 7 | 7 | 2.3% | 2.3% |
Protective Life Insurance Company
Founded:
1907
A.M. Best:
A+
Fitch:
AA-
S&P:
A+
Moody's:
A1
Brochure
Free withdrawal
10%
Types of funds
Non-Qualified, 401k, IRA, IRA Rollover, TSA 403b, SEP IRA, IRA-Roth, and 457 plan