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Best Guaranteed Annuity Rates
2-Year
5.70%
3-Year
6.25%
5-Year
6.50%
7-Year
5.85%
10-Year
5.80%
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Protective Income Builder

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Highlights

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
Type
 Fixed Index
Purpose Lifetime Income
Term
 7 Years
Surrender schedule
 7%6%5%4%3%2%1%
Free withdrawal
 10%
Market value adjustment
Return of premium
Launch date
 08/31/2015
Minimum contribution
 $25,000
Maximum contribution
 $1,000,000
Max Age Qualified
 85
Types of funds
 Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, and 1035 Exchange
Brochure
 Open brochure

Find out if the Protective Income Builder is the right product for you.

Withdrawal Provisions

Penalty-Free Withdrawals
Withdrawals reduce the annuity's remaining death benefit, contract value, cash surrender value, and future earnings. Withdrawals may be subject to income tax and if taken prior to age 59 1/2, an additional 10% IRS tax penalty may apply. More frequent withdrawal may reduce earnings more than annual withdrawals.
First contract year: 10% of initial purchase payment
Subsequent years: 10% of the contract value on each withdrawal date, less any free withdrawal has already taken since the prior contract anniversary. These amounts are not cumulative. The Guaranteed Income Benefit withdrawals up to the annual withdrawal amount are also penalty-free.
The contact value after each non-benefit withdrawal must be $10,000.

Death Benefit
The company calculates the death benefit as of the date the company receives proof of death. The death benefit is equal to the greater of the Contract Value or the Minimum Surrender Value, minus any applicable premium tax. 
If an owner dies before the Annuity Date while this Contract is in force, the company will pay the death benefit to the Beneficiary. If an owner dies on or after the Annuity Date, the Beneficiary will become the new Owner and remaining payments must be distributed at least as rapidly as under the Annuity Option in effect at the time of the Owner's death. 

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
2.65% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
5.7% 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
4.7% Cap
1-Year S&P 500 Performance Triggered
Performance Triggered
Annual
3.7% Performance triggered
1-Year Fixed Account
Fixed
2.8% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
6% 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
5% Cap
1-Year S&P 500 Performance Triggered
Performance Triggered
Annual
4% 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)

Waivers

Hospital

If you or your spouse are confined to a hospital for at least 30 days, we will waive withdrawal charges and MVA after the first contract anniversary.

Nursing Home

Unavailable in states: MA

You can access your money to help when certain circumstances occur. We will waive the withdrawal charge and MVA after the first contract anniversary if you or your spouse is 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 to help when certain circumstances occur. We will waive the withdrawal charge and MVA after the first contract anniversary if you or your spouse is diagnosed with a terminally ill condition expected to result in death within 12 months

Unemployment

Unavailable in states: CT

If you or your spouse become unemployed, we will waive withdrawal charges and MVA. To qualify, you: 1. Must have been employed full time on the contract issue date. 2. Must be unemployed for a period of at least 60 consecutive calendar days prior to claiming the waiver of the withdrawal charge. 3. Must be unemployed on the date of the full surrender or partial withdrawal is requested.

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