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New higher withdrawal rates on Protective%%®%% Income Builder indexed annuity
February 27, 2023

We’ve increased the guaranteed lifetime income withdrawal rates for the Guaranteed Income Benefit available on our Protective Income Builder indexed annuity, effective February 27, 2023.

With ongoing market uncertainty, it’s more important than ever to find better ways to protect retirements. We’re excited to announce this update in our continuous effort to help you offer competitive annuities to meet your customers’ retirement income goals.

Here's a look at the new guaranteed lifetime withdrawal rates for key retirement ages*

Issue age
62
65
67
70
72
Single withdrawal rates
6.00%
6.55%
6.75%
7.25%
7.70%
Joint withdrawal rates
5.50%
6.05%
6.25%
6.75%
7.20%
*Withdrawal rates at key retirement ages for Level Income option shown for single persons and spouses based on benefit being taken within the first year. For guaranteed lifetime income rates for every age, see the Product Comparison Grid.

Transition rules:


Protective will be increasing the withdrawal rates for the Guaranteed Income Benefit available on the Protective Income Builder indexed annuity for new sales effective February 27, 2023.


  • Tickets/applications dated February 26, 2023, or earlier and received in good order will be issued with the current withdrawal rates:
    • Cash/applications/any 1035 exchange paperwork related to these new tickets/applications must be received no later than March 13, 2023 (10 business days from the effective date).
  • Previously submitted annuity tickets/applications that are awaiting funding from 1035 exchanges and/or Not In Good Order items will continue to be processed through existing procedures.
  • Tickets/applications for the Protective Income Builder indexed annuity dated February 27, 2023 and after will be accepted and issued with the new withdrawal rates

To learn more about this protected lifetime income solution, contact your Protective Wholesaler.

We’re here for you

We’re ready to help you deliver the protection and security customers deserve. Reach out to us anytime for questions and support, and we’ll get in touch with you as soon as possible.
All non-guaranteed components of the indexing formula may change and could be different in the future. Indexed interest could be less than that earned in a traditional fixed annuity and could be zero. For product details, benefits, limitations, and exclusions, please consult the product guide and disclosure statement. These documents describe the terms and conditions that control the insurance company’s contractual obligations.

Protective Income Builder is a limited flexible premium deferred indexed annuity contract with a limited market value adjustment, issued under policy forms FIA-P-2010 and FIA-P-2011, and state variations thereof. For Idaho, the contract form number is ICC15-FIA-P-2011. The Guaranteed Income Benefit is provided under rider policy form ICC17-FIA-P-6048 and state variations thereof. Protective Income Builder is issued by Protective Life Insurance Company located in Nashville, TN. Policy form numbers, product availability and features may vary by state.

Protective Income Builder is not an investment in any index, is not a security or stock market investment, does not participate in any stock or equity investment, and does not contain dividends.

WEB.4571582.02.23