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