Protective Secure Saver
Highlights
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Premium Type
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Single Premium with Additional
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|---|---|
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Min age Qualified
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18
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Max age Qualified
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85
|
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Minimum Contribution
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$10,000
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Maximum Contribution
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$1,000,000
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Market value adjustment
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Return of premium
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|
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Free withdrawal
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10% |
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Launch date
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07/03/2017 |
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Types of funds
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Non-Qualified, IRA, IRA Rollover, and IRA Transfer |
Brochure
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Open brochure |
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.
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.
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 5 years | 4% |
| 7 years | 5.1% |
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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