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Suitability

Protective’s Annuity Suitability Review Desk supports producer compliance with applicable annuity suitability laws and regulations, including the NAIC Suitability in Annuity Transactions Model Regulation. Producers are required to maintain product knowledge and ensure all recommendations are in the client’s best interest.

To support compliance, producers should review Protective’s Annuity Suitability Guidelines and Annuity Suitability Producer Guide, available on finpro.protective.com under Doing Business > Compliance Support > Annuity and Life Insurance Suitability. These resources provide guidance on suitability standards, training requirements, and related obligations.

Producers must act in the client’s best interest by making reasonable efforts to gather and document suitability information, and by maintaining accurate records supporting each recommendation. This includes:

• Understanding the client’s financial situation, needs, and objectives
• Completing required training and maintaining product expertise
• Staying informed of applicable legal and regulatory requirements
• Making recommendations solely in the client’s best interest
• Clearly explaining product features, benefits, and risks
• Demonstrating how the recommendation aligns with the client’s needs

For annuity exchanges or replacements, producers must have a reasonable basis to conclude the transaction is in the client’s best interest. Considerations include whether the client will:

• Incur surrender charges or a new surrender period
• Lose existing benefits (e.g., death or living benefits)
• Face increased fees or rider costs
• Benefit from product enhancements or improved features
• Have completed another exchange or replacement within the past 60 months

Conditional Suitability Review

Protective may conduct a conditional suitability review upon request from a producer or wholesaler. This pre-submission review allows inquiry into the suitability of a product for a prospective client before a signed application is submitted. To request a review, submit a Consumer Profile and Suitability Questionnaire via email to annuitysuitabilityreview@protective.com. The questionnaire does not require client or producer signatures for conditional review purposes. The Annuity Suitability Review Desk will evaluate the information and issue a conditional approval, a decline, or a request for additional details. The Review Desk is also available to address general questions related to annuity suitability and the questionnaire.

Consumer-Facing Education Materials

Protective provides educational materials on finpro.protective.com, under the Retirement and Protection sections. to help producers effectively educate consumers before purchasing life insurance or annuities. These materials outline key product features, including riders, endorsements, limitations, withdrawals, annuitization, expenses, and surrender charges, and associated risks. Producers are encouraged to use these resources at the point of sale to ensure consumers have a clear understanding of how Protective’s products function and to support informed decision-making.

Important Information about Sales Material and Advertising

Insurance advertising is highly regulated, with requirements that vary by state. All sales and marketing materials on finpro.protective.com have been reviewed by Protective Corporate Compliance. Any materials referencing Protective’s name, branding, products, sales tools, or systems must receive prior approval before use. Additionally, communications that promote or encourage a policy purchase or modification—including prospecting letters, form letters, and websites—are considered advertising and are subject to these pre-approval requirements.

Contact Us

Our purpose is to help more people become Protectors. We stand by your side as you help your customers protect what matters most. Please contact us at 800-866-6410, Option 1, for additional support. Additionally, the Annuity Suitability Review Desk may be reached at AnnuitySuitabilityReview@Protective.com.