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: 
  • 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). 

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
Carrier details
Free withdrawal
10%
Types of funds
Non-Qualified, 401k, IRA, IRA Rollover, TSA 403b, SEP IRA, IRA-Roth, and 457 plan