Skip to Content
Graphic hero indigo
Graphic hero indigo

Create beneficiary income streams with the Income Provider Option

Clients all have different goals for how their policy will meet loved ones’ financial needs. Available at no additional cost on select products, the Income Provider Option lets them decide how their death benefit will be paid.

Beneficiary payments on the client's terms

The Income Provider Option offers clients 3 key benefits to help them cover the future needs of their beneficiaries.
Structured death benefit payments
Clients can structure their death benefit payment into installments over time.
Amount and duration are guaranteed
Installments are guaranteed both in their amount and period of time.
Mitigates the need for a trust
Installments can often do the job of a trust without the expense of attorney fees.
Clients have the flexibility to choose:
  • Benefit period: Payments can be made from 1–30 years.
  • Payment type: Lump-sum payment, regular income stream or both.
  • Payment schedule: Monthly, annually or on a specific day (like birthdays or holidays).
  • Distribution: Multiple beneficiaries equally or divided at client’s discretion.
A couple reviewing the Protective® Income Provider option to determine when and how they want their insurance policy's death benefit to be paid.

Unique needs make the case for the Income Provider Option

Every client has a vision for how they will financially support their survivors. Consider these 3 scenarios where the Income Provider Option creates beneficiary income streams based on a client’s specific needs.
Peter, a single father and teacher, with two young children who is looking for an alternative to a trust.
Alternative to a trust
Peter, age 45, is a single father and teacher with two young children. He purchases a $600,000 Protective policy with the Income Provider Option and tailors it so his children’s guardian will get $15,000 per year on their birthdays for 20 years.
Caroline, a retired widow, who is looking to create a legacy for her grandchildren.
Create a legacy
Retired widow, Caroline, age 65, purchases a $250,000 Protective policy with the Income Provider Option and names her granddaughter the beneficiary. Upon Caroline’s death, she creates a legacy by sending her granddaughter $10,000 every year for 25 years.
Thomas, his wife Annie, thinking about how they can protect their family as they walk down the beach with their three children.
Provide family protection
Thomas and his wife, Annie, are 35 years old with 3 school-age children. He purchases a $750,000 Protective policy with the Income Provider Option. If Thomas dies, Annie or the children will get an initial lump sum of $150,000 for immediate expenses, then $2,500 monthly for 20 years.

Helpful resources on the Income Provider Option

Use these resources to learn more about the Income Provider Option and support your client conversations.
Cover of the Protective® Income Provider Option consumer guide.
Introduce clients to the Income Provider Option
First page of the Income Provider Option client scenario flyer.
Review example client scenarios
Cover of the Protective® Income Provider Option FAQs.
Get answers to common questions

Other related topics

A client feels comforted at home knowing there's a potential solution to help offset her medical expenses.
Cover expenses for chronic illness with ExtendCare%%TM%% Rider
A couple reviews the flexibility offered with a Return of Premium as a solution to cover the unexpected.
Offer a flexible guarantee with Return of Premium endorsements
A man playing basketball with his two grandchildren knowing he has a protected legacy plan.
Legacy planning to protect what clients pass on
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.