We're increasing withdrawal rates on our Protective® Aspirations variable annuity
October 3, 2022
We're increasing the guaranteed lifetime withdrawal rates for the SecurePaySM Protector optional income benefit available on Protective Aspirations variable annuity for new sales effective October 3, 2022.
With ongoing market uncertainty, it's more important than ever to find better ways to protect retirements. We're excited to announce this update in our continuous effort to help you offer competitive annuities to meet your clients' retirement income goals.
Here's a look at the new guaranteed lifetime withdrawal rates for key retirement ages*
WD Age
62
65
67
70
72
Single WD Rates
5.10%
6.00%
6.10%
6.25%
6.35%
Joint WD Rates
4.60%
5.50%
5.60%
5.75%
5.85%
*For guaranteed lifetime income percentages for every age see the Product Comparison Grid.
Transition rules:
Protective Life will be increasing the guaranteed lifetime withdrawal rates for the SecurePay Protector optional income benefit available on Protective Aspirations variable annuity for new sales effective October 3, 2022.
- Tickets/applications dated October 2, 2022, 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 October 17, 2022 (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 Aspirations variable annuity dated October 3, 2022, and after will be accepted and issued with the new withdrawal rates.
To learn more about this protected lifetime income solution, contact your Protective representative.
We're here for you
Everyone deserves peace of mind when it comes to safeguarding what’s most important. We’re ready to help you deliver the protection and security your clients deserve. Reach out to us anytime for questions and support, and we’ll get in touch with you as soon as possible.
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 charges from the insurance company and the investment managers.
Variable annuities are issued by Protective Life Insurance Company (PLICO), located in Nashville, TN; securities offered by Investment Distributors, Inc. (IDI), the principal underwriter for registered products issued by PLICO, its affiliate. IDI is located in Birmingham, Alabama. Product guarantees are backed by the financial strength and claims-paying ability of PLICO.
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 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.
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 prospectus for a variable annuity and its underlying investment options. Investors should read the prospectus carefully before investing. Prospectuses may be obtained by calling PLICO at 800-456-6330.
WEB.4138426.08.22
Variable annuities are issued by Protective Life Insurance Company (PLICO), located in Nashville, TN; securities offered by Investment Distributors, Inc. (IDI), the principal underwriter for registered products issued by PLICO, its affiliate. IDI is located in Birmingham, Alabama. Product guarantees are backed by the financial strength and claims-paying ability of PLICO.
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 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.
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 prospectus for a variable annuity and its underlying investment options. Investors should read the prospectus carefully before investing. Prospectuses may be obtained by calling PLICO at 800-456-6330.
WEB.4138426.08.22