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Best Guaranteed Annuity Rates
2-Year
5.70%
3-Year
6.25%
5-Year
6.25%
7-Year
6.00%
10-Year
5.80%

Protective Secure Saver

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Learn how an annuity can provide guaranteed income for life.

Highlights

Premium Type
Single Premium with Additional
Min age Qualified
18
Max age Qualified
85
Minimum Contribution
$10,000
Maximum Contribution
$1,000,000
Market value adjustment
Return of premium
Free withdrawal
10%
Launch date
07/03/2017
Types of funds
Non-Qualified, IRA, IRA Rollover, and IRA Transfer
Brochure
Open brochure
Protective Life fixed annuities have been designed specifically to help you more effectively prepare for and experience retirement. The Protective Secure Saver fixed annuity may be the right choice for you if you want to protect principal and reliably accumulate assets that can be withdrawn as income in retirement.
 
Purchase Payment Amounts 
  • Minimum initial purchase payment: $10,000 
  • Minimum subsequent purchase payments: $50 only permitted before the first contract anniversary and before age 86. 
  • Maximum purchase payment: $1 million. Higher amounts may be accepted but must be approved before being submitted and may be subject to conditions.
Penalty Free Withdrawals
You may withdraw 10% of the contract value as of the prior contract anniversary each contract year with no withdrawal charge. 

Market Value Adjustment (MVA)
A limited market value adjustment will be applied to withdrawals that exceed the allowable penalty free amount. The MVA can increase, decrease or have no effect on the amount deducted from the contract value to satisfy a withdrawal request, based on changes in market interest rates between the contract's issue date and the withdrawal date. The MVA is limited to excess earned interest. It does not apply after the withdrawal charge period expires, and does not affect the contract's minimum surrender value.

Interest Rate
The Protective Secure Saver fixed annuity earns a competitive interest rate, guaranteed for the duration of the interest rate guaranteed period.

Death Benefit
The death benefit is available at no additional cost and can be useful for estate planning.  Should you pass away before starting your annuity income payments, your beneficiaries will receive the full amount of the contract value.

Find out if the Protective Secure Saver is the right product for you.

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MYGA Interest Rates

Term
Rate
Annual percentage yield (APY)
earned over the investment term
5 years 4.1%
7 years 5.2%

Riders

No Riders for Protective Secure Saver annuity.

Waivers

Nursing Home

Waives surrender charges and MVA after the first contract anniversary, if the contract owner or spouse is confined to a hospital or nursing facility for at least 30 days or if the contract owner or spouse has a terminal illness. The nursing home waiver does not include home health care.

Terminal Illness

Waives surrender charges and MVA after the first contract anniversary, if the contract owner or spouse is confined to a hospital or nursing facility for at least 30 days or if the contract owner or spouse has a terminal illness.

Unemployment

Waives withdrawal charges and MVA if the contract owner or spouse becomes unemployed. In order to qualify, clients. 1. Must have been employed full time on the contract issue date. 2. Must be unemployed for a period for at least 60 consecutive calendar days prior to claiming the waiver of the withdrawal charge. 3. Must be unemployed on the date the full surrender or partial withdrawal is requested.

Surrender Window

Upon completion of the withdrawal charge period, you may take all or part of your contract value in a lump sum with no withdrawal charges.

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