Protective Smart Saver NY
Highlights
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Premium Type
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Single Premium with Additional
|
|---|---|
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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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$25,000
|
|
Maximum Contribution
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$1,000,000
|
|
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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02/01/2018 |
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Types of funds
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Non-Qualified, 401k, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, and 457 plan |
Brochure
|
Open brochure |
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
- Minimum: $25,000
- Minimum Additional: $50
- Maximum: $1 million
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).
Find out if the Protective Smart Saver NY is the right product for you.
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 4 years | 4.5% |
| 5 years | 5.15% |
| 6 years | 4.45% |
| 7 years | 5% |
Riders
No Riders for Protective Smart Saver NY annuity.
Waivers
Terminal Illness
Terminal Condition - After the first contract year you may withdraw all or a portion of the contract value with no withdrawal charge, should you or your spouse become diagnosed with a terminally ill condition expected to result in death within 12 months.
Unemployment
You may withdraw all or a portion of the contract value with no withdrawal charge, should you or your spouse become unemployed.
Confinement
Nursing Facility Confinement - After the first contract year you may withdraw all or a portion of the contract value with no withdrawal charge, should you or your spouse become confined to a qualified medical care facility for at least 30 consecutive days. The nursing home waiver does not include home health care.
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