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Best Guaranteed Annuity Rates
2-Year
5.55%
3-Year
6.25%
5-Year
6.50%
7-Year
5.85%
10-Year
5.80%

Protective Guaranteed Income Indexed Annuity

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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.
  • 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
Type
Fixed Index
Purpose Lifetime Income
Term
10 Years
Surrender schedule
9%9%8%7%6%5%4%3%2%1%
Free withdrawal
10%
Market value adjustment
Return of premium
Launch date
06/04/2018
Minimum contribution
$25,000
Maximum contribution
$1,000,000
Max Age Qualified
79
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, IRA-Roth, and 1035 Exchange
Brochure
Open brochure

Find out if the Protective Guaranteed Income Indexed Annuity is the right product for you.

Premium Notes

Additional purchase payments are welcomed when initiated before the first contract anniversary and received before the oldest owner’s or annuitant’s 80th birthday. Additional purchase payments are applied to an interest bearing holding account and remain there until the next contract anniversary, and then allocated to the interest crediting strategies according to your instructions. 

Withdrawal Provisions

Penalty-Free Withdrawals
Even with a 10-year withdrawal schedule, you can withdraw 10% of your initial purchase payment during the first contract year with no withdrawal charge or market value adjustment. After the first year, you can withdraw 10% of the contract value as of the prior contract year anniversary annually, less any withdrawals in that contract year. Your contract value after each withdrawal must be at least $10,000. However, this minimum requirement doesn’t apply to the Guaranteed Income Benefit withdrawals. 

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)

Waivers

Nursing Home

Unavailable in states: MA

You can access your money, without a withdrawal charge and MVA after the first contract anniversary if your or your spouse is either: confined to a qualified medical care facility for at least 30 consecutive days. The nursing home waiver does not include home health care.

Terminal Illness

Unavailable in states: MA

You can access your money, without a withdrawal charge and MVA after the first contract anniversary if your or your spouse is either: diagnosed with a terminally ill condition expected to result in death within 12 months

Unemployment

Unavailable in states: CT

You can access your money to help with the financial burdens of unemployment. We will waive the withdrawal charge and MVA, if you or your spouse should become unemployed. In order to qualify, you or your spouse must meet the following requirements: 1. Employed full time on the contract issue date; 2. Unemployed for a period of at least 60 consecutive calendar days prior to claiming the waiver; 3. Unemployed on the date when the full surrender or partial withdrawal is requested.

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