Why Protective Income Builder?
Consider this product for a client who:
- Wants a predictable source of income for retirement
- Is concerned about outliving their income
- Is focused on protecting their retirement assets, in addition to their income
- Prefers products that are low risk
- Is concerned about the risks and costs associated with variable annuities
Key product specs
- Issue ages are 50 – 85
- Minimum initial purchase payment of $25,000 — additional premiums allowed in the first contract year
- Low-risk asset growth with interest crediting strategies based on the performance of the S&P 500® Index or Citi Flexible Allocation 6 Excess Return Index, as well as a fixed interest option
- Includes a guaranteed lifetime income benefit, with an 8% roll-up1
Built-in waivers to protect against unexpected life events
- Penalty-free withdrawals of 10% of the contract value
- Nursing facility confinement/terminal illness condition waiver which allows the withdrawal of all or a portion of the contract value3
- Unemployment waiver which permits the withdrawal of all or a portion of the contract value with no withdrawal charge3
Helpful resources on Protective Income Builder
Other related topics
¹ Your Benefit base (the amount on which your benefit withdrawals are determined) is guaranteed to increase by 8% of the total purchase payments every year for up to ten years, or until benefit election, whichever occurs first.
² LIMRA Secure Retirement Institute, The Inner Workings of Retirement Timing, 2018.
³ Waives withdrawal charges and MVA for contract owners and/or spouses who qualify. May not be available in all states. State variations may apply. Terms and conditions apply.
Withdrawals reduce the annuity’s remaining death benefit, contract values, cash surrender 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.