Protective%%®%% Aspirations variable annuity product enhancements
June 3, 2024
Effective June 3, 2024, we're updating Protective Aspirations variable annuity to deliver more investment flexibility and quality fund options. See complete details on our product enhancements below.
Increased investment flexibility for the SecurePay ProtectorSM lifetime income benefit
You can now build customized asset allocations during the accumulation phase and the income phase of a client's contract. The following Allocation by Investment Category (AIC) guidelines are available for new and existing contracts with the SecurePay Protector benefit.
The AIC classification of each fund is consistent in both phases. For example, a fund classified in AIC 3 will remain in the same category before and after the benefit election date.
Investment lineup updates
We're expanding our lineup of quality investment options with the addition of these funds.
Visit our Protective Aspirations variable annuity product page to learn more about how this solution can protect what your clients aspire for in retirement.
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.
Protective Aspirations variable annuity is a flexible premium deferred variable and fixed annuity contract issued by PLICO in all states except New York under policy form series VDA-P-2006. SecurePay Investor benefits issued under rider form number VDA-P-6063. SecurePay Protector benefits issued under rider form number VDA-P-6061. SecurePay Nursing Home benefits issued under form number IPV-2159. Policy form numbers, product availability and product features may vary by state.
Variable annuities are long-term investments intended for retirement planning and involve market risk and the possible loss of principal. Investments in variable annuities are subject to fees and changes from the insurance company and the investment managers.
Withdrawals reduce the annuity's remaining death benefit, contract value, cash surrender value and future earnings. Withdrawals may be subject to income tax and, if taken prior to age 59½, an additional 10% IRS tax penalty may apply. More frequent withdrawals may reduce earnings more than annual withdrawals. During the withdrawal charge period, withdrawals in excess of the penalty-free amount may be subject to a withdrawal charge.
Investors should carefully consider the investment objectives, risks, charges and expenses of a variable annuity, any optional protected lifetime income benefit, and the underlying investment options before investing. This and other information is contained in the prospectuses for a variable annuity and its underlying investment options. Investors should read the prospectuses carefully before investing. Prospectuses may be obtained by contacting PLICO at 800-456-6330.
WEB.5428030.01.24
Variable annuities are long-term investments intended for retirement planning and involve market risk and the possible loss of principal. Investments in variable annuities are subject to fees and changes from the insurance company and the investment managers.
Withdrawals reduce the annuity's remaining death benefit, contract value, cash surrender value and future earnings. Withdrawals may be subject to income tax and, if taken prior to age 59½, an additional 10% IRS tax penalty may apply. More frequent withdrawals may reduce earnings more than annual withdrawals. During the withdrawal charge period, withdrawals in excess of the penalty-free amount may be subject to a withdrawal charge.
Investors should carefully consider the investment objectives, risks, charges and expenses of a variable annuity, any optional protected lifetime income benefit, and the underlying investment options before investing. This and other information is contained in the prospectuses for a variable annuity and its underlying investment options. Investors should read the prospectuses carefully before investing. Prospectuses may be obtained by contacting PLICO at 800-456-6330.
WEB.5428030.01.24