We're updating interest rates on select products
February 01, 2024
As part of our commitment to helping you better serve customers, we’re informing you of the following updates to the interest rates on Protective Indexed ChoiceSM UL and in-force universal life policies.
Protective Indexed Choice UL interest rate changes
Effective March 15, 2024
Rate changes to Protective Indexed Choice UL
AG 49-A maximum illustrated rate
Minimum indexed interest rate for supplemental exhibit
Maximum indexed interest rate for supplemental exhibit
Loan charge rate
Fixed account credited rate
Indexed cap rate
Current rate
5.77%
3.61%
7.21%
5.27%
3.25%
9.0%
New rate
5.79%
3.61%
7.21%
5.29%
3.50%
9.0%
Protective Indexed Choice UL interest rate changes:
- Applies to new business and in-force, new and existing loans.
- New rate goes into effect as of the next anniversary on or after 03/15/2024.
In-force policy interest crediting rate changes
Effective March 15, 2024
Product name
Protective® ProValue UL
Protective Advantage ChoiceSM UL (pre 2/16)
Protective® Select Flex II UL (with RIC)
Protective SurvivorSM UL
Protective Indexed ChoiceSM UL
Protective Indexed ChoiceSM UL NY
Protective Advantage ChoiceSM UL (post 2/16)*
Protective Custom ChoiceSM UL Lifetime
Protective® Lifetime Assurance UL
Protective® Lifetime Platinum II
Protective® Lifetime Platinum III
Protective® Select Flex II (FL)
Protective® Select Flex II (no RIC)
Protective® Select Flex II (TX)
Current rate
3.00%
3.00%
3.00%
2.50%
3.25%
3.50%
3.50%
3.50%
4.25%
3.75%
4.00%
New rate
3.25%
3.25%
3.25%
2.75%
3.50%
3.75%
3.75%
3.75%
4.50%
4.00%
4.25%
Interest rate changes will be reflected:
- On new business illustrations beginning February 1, 2024.
- On in-force illustrations beginning February 5, 2024.
- In annual statements produced on or after March 15, 2024.**
If you have any questions regarding these interest rate changes, please reach out to your Protective representative.
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.
* Does not include the currently marketed ACUL 03/2023. Product which remains at 3.50%.
** Protective Advantage Choice UL policies issued between 12/2019 and 2/2023 will have rate changes effective April 15th, 2024.
WEB.5389658.01.24
** Protective Advantage Choice UL policies issued between 12/2019 and 2/2023 will have rate changes effective April 15th, 2024.
WEB.5389658.01.24