Protective%%®%% Investors Benefit Advisory variable annuity product enhancements
May 1, 2023
In New York, the product offered is Protective Investors Benefit Advisory NY Variable Annuity*.
We are excited to announce that on May 1, 2023, we are making the following updates and enhancements to the Protective® Investors Benefit Advisory variable annuity* investment lineup.
Investment lineup enhancements
We are adding a new fund manager to the investment platform and 21 new funds, increasing our lineup to 154 investment options.
New Fund Manager:
- MFS
New investment options:
- Fidelity
- Fidelity® VIP Growth Portfolio Service 2
- Invesco (the following Invesco V.I. Defined Outcome Funds are not available in NY)
- Invesco® V.I. Nasdaq 100 Buffer December Fund - Series II
- Invesco® V.I. Nasdaq 100 Buffer June Fund - Series II
- Invesco® V.I. Nasdaq 100 Buffer March Fund - Series II
- Invesco® V.I. Nasdaq 100 Buffer September Fund - Series II
- Invesco® V.I. S&P 500 Buffer December Fund - Series II
- Invesco® V.I. S&P 500 Buffer June Fund - Series II
- Invesco® V.I. S&P 500 Buffer March Fund - Series II
- Invesco® V.I. S&P 500 Buffer September Fund - Series II
- MFS
- MFS® VIT Growth Series Svc
- MFS® VIT II Core Equity Portfolio Svc
- MFS® VIT II International Growth Portfolio Svc
- MFS® VIT II International Intrinsic Value Portfolio Svc
- MFS® VIT II MA Investors Growth Stock Portfolio Svc
- MFS® VIT II Research International Portfolio Svc
- MFS® VIT III Blended Research Small Cap Equity Portfolio Svc
- MFS® VIT III Global Real Estate Portfolio Svc
- MFS® VIT III Mid Cap Value Portfolio Svc
- MFS® VIT Mid Cap Growth Series Svc
- MFS® VIT New Discovery Series Svc
- MFS® VIT Total Return Series Svc
Learn how you can use Protective Investors Benefit Advisory variable annuity* to help customize retirement plans for your clients.
Transition rules
These product enhancements to Protective Investors Benefit Advisory and Protective Investors Benefit Advisory NY variable annuities are for new sales effective May 1, 2023.
- Tickets/Applications dated April 30, 2023, 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 May 15, 2023 (10 business days from effective date).
- Previously submitted Annuity tickets/applications that are awaiting funding from 1035 exchanges and/or Not In Good Order (NIGO) items will continue to be processed through existing procedures.
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.
*In New York, the product offered is Protective Investors Benefit Advisory NY variable annuity. All product features are the same unless otherwise noted.
Protective refers to Protective Life Insurance Company (PLICO), Nashville, TN, and its affiliates, including Protective Life and Annuity Insurance Company (PLAIC), Birmingham, AL.
Investors Benefit Advisory is a trademark of Protective Life Insurance Company.
Protective® is a registered trademark of Protective Life Insurance Company. The Protective trademarks, logos and service marks are property of Protective Life Insurance Company and are protected by copyright, trademark, and/or other proprietary rights and laws.
Protective does not offer or provide investment, fiduciary, financial, legal or tax advice or act in a fiduciary capacity for any client. Please consult with your investment advisor, attorney or tax advisor as needed.
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. Diversification neither assures a profit nor eliminates the risk of experiencing investment losses.
Protective Investors Benefit Advisory 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 and state variations. SecurePay Pro benefits provided by PLICO under rider form VDA-P-6057.
Protective Investors Benefit Advisory NY variable annuity is a flexible premium deferred variable and fixed annuity contract issued by PLAIC in New York under policy form VDA-A-2006-500. SecurePay Pro benefits provided by PLAIC under rider form VDA-A-6057.
Product guarantees are backed by the financial strength and claims-paying ability of the issuing company. Each company is solely responsible for the financial obligations accruing under the products it issues. Product availability and features may vary by state. Variable annuities are distributed by Investment Distributors, Inc. (IDI), a broker-dealer and principal underwriter of registered products issued by PLICO and PLAIC, its affiliates. IDI is located in Birmingham, AL.
Investors should carefully consider the investment objectives, risks, charges and expenses of a variable annuity, any optional protected lifetime income benefit, advisory fees 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 or PLAIC at 800-456-6330.
WEB.4500676.01.23
Protective refers to Protective Life Insurance Company (PLICO), Nashville, TN, and its affiliates, including Protective Life and Annuity Insurance Company (PLAIC), Birmingham, AL.
Investors Benefit Advisory is a trademark of Protective Life Insurance Company.
Protective® is a registered trademark of Protective Life Insurance Company. The Protective trademarks, logos and service marks are property of Protective Life Insurance Company and are protected by copyright, trademark, and/or other proprietary rights and laws.
Protective does not offer or provide investment, fiduciary, financial, legal or tax advice or act in a fiduciary capacity for any client. Please consult with your investment advisor, attorney or tax advisor as needed.
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. Diversification neither assures a profit nor eliminates the risk of experiencing investment losses.
Protective Investors Benefit Advisory 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 and state variations. SecurePay Pro benefits provided by PLICO under rider form VDA-P-6057.
Protective Investors Benefit Advisory NY variable annuity is a flexible premium deferred variable and fixed annuity contract issued by PLAIC in New York under policy form VDA-A-2006-500. SecurePay Pro benefits provided by PLAIC under rider form VDA-A-6057.
Product guarantees are backed by the financial strength and claims-paying ability of the issuing company. Each company is solely responsible for the financial obligations accruing under the products it issues. Product availability and features may vary by state. Variable annuities are distributed by Investment Distributors, Inc. (IDI), a broker-dealer and principal underwriter of registered products issued by PLICO and PLAIC, its affiliates. IDI is located in Birmingham, AL.
Investors should carefully consider the investment objectives, risks, charges and expenses of a variable annuity, any optional protected lifetime income benefit, advisory fees 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 or PLAIC at 800-456-6330.
WEB.4500676.01.23