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We increased withdrawal rates on our Protective%%®%% Income Creator fixed annuity
February 21, 2023
We increased the guaranteed lifetime withdrawal rates on our Protective Income Creator fixed annuity’s Lifetime Income BenefitSM for new sales effective February 6, 2023.
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*

Issue Age
62
65
67
70
73
Single WD Rates
6.90%
7.20%
7.40%
7.65%
7.95%
Joint WD Rates
6.40%
6.70%
6.90%
7.15%
7.45%
*Lifetime income rates shown at key retirement ages above for single persons and spouses are based on the benefit being taken within the first year. See Payout Guide for full details and guaranteed income factors for every age.





Transition rules and key dates to keep in mind

Transition rules: Protective increased withdrawal rates for the Lifetime Income Benefit available on the Protective Income Creator fixed annuity for new sales effective February 6, 2023.


  • Tickets/applications dated February 5, 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 February 20, 2023 (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 Income Creator fixed annuity dated February 6, 2023, 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.

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Protective Income Creator is a fixed, single premium, deferred annuity contract with a limited market value adjustment issued b PLICO in all states except New York under contract form series LDA-P-2013 and state variations thereof. The Lifetime Income Benefit is provided under rider form series LDA-P-6054 and state variations thereof. Contract form numbers, product availability and features may vary by state. Protective Income Creator is issued by Protective Life Insurance Company located in Nashville, TN. All payments and guarantees are subject to the claims-paying ability of Protective Life Insurance Company.

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