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Announcing Protective%%®%% Income Creator fixed annuity withdrawal rate changes
December 2, 2024
Protective will decrease select guaranteed lifetime income withdrawal percentages in the Lifetime Income Benefit available with the Protective® Income Creator fixed annuity, effective December 2, 2024.
We understand how important guaranteed income is to clients' confidence in their retirement strategy and make a continuous effort to offer competitive solutions. The chart below is a sample of the adjusted rates at key ages. See the complete withdrawal rates.

Lifetime Income Benefit Withdrawal Rates*

Issue age
67
70
75
78
80
Single withdrawal rates
7.30%
7.90%
8.40%
8.55%
8.65%
Joint withdrawal rates
6.80%
7.40%
7.90%
8.05%
8.15%

*The single issue and joint issue lifetime withdrawal rates shown 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


  • Tickets/Applications dated December 1, 2024, 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 December 16, 2024 (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 following existing new business guidelines.
  • Tickets/Applications for the Protective Income Creator dated December 2, 2024, and after will be accepted and issued with the new withdrawal rates.

We are committed to providing you with the best-in-class sales support. If you have any questions, please contact your National Account Manager.

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Protective Income Creator fixed annuity is a fixed, single premium, deferred annuity contract with a limited market value adjustment issued by PLICO in all states except New York under contract form series LDA-P-2013. The Lifetime Income benefit is provided under rider form series LDA-P-6054 and state variations thereof. Policy form numbers, product availability, and product features may vary by state.

Annuities are long-term insurance contracts intended for retirement planning.

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