Protective%%®%% Dimensions V Variable Annuity product update
April 26, 2024
We're here to help you protect your clients' retirement goals. That's why we're excited to announce these upcoming investment lineup updates to Protective Dimensions V variable annuity.
Fund additions effective May 1, 2024
- American Funds® IS - Global Balanced Fund (4)
- PIMCO VIT Income Advisor
Fund name changes and closures effective April 26, 2024
Old fund name
American Century VP Balanced – Class I*
American Century VP Disciplined Core Value – Class I*
American Century VP International – Class I*
American Century VP Ultra – Class I*
Invesco V.I. Conservative Balanced Fund – Series II**
New fund name
LVIP American Century Balanced Fund – Standard Class II
LVIP American Century VP Disciplined Core Value – Standard Class II
LVIP American Century VP International – Standard Class II
LVIP American Century VP Ultra – Standard Class II
Invesco V.I. Equity and Income Fund – Series II
*LVIP American Century funds will remain available to existing account holders but will no longer be available for new sales.
**Invesco V.I. Conservative Balanced Fund will not remain open to new sales, as it is being merged into the Invesco V.I. Equity and Income Fund. It will be removed from the Protective Allocation Portfolios composition on 4/26/2024. Applications and marketing materials will be updated to reflect the new composition of the Protective Allocation Portfolios.
We’re here for you
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.
Protective Dimensions V variable annuity is a flexible premium deferred variable and fixed annuity contract issued by PLICO in all states except New York on policy form VDA-P-2006. SecurePay Income benefit issued on rider form VDA-P-6068. SecurePay NH is provided on form IPV-2159. Policy form numbers, product availability and features may vary by state.
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 changes from the insurance company and the investment managers.
Withdrawals reduce the annuity's remaining death benefit, contract value, cash surrender value and future earnings. Withdrawals may be subject to income tax and, if taken prior to age 59½, an additional 10% IRS tax penalty may apply. More frequent withdrawals may reduce earnings more than annual withdrawals. During the withdrawal charge period, withdrawals in excess of the penalty-free amount may be subject to a withdrawal charge.
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 prospectuses for a variable annuity and its underlying investment options. Investors should read the prospectuses carefully before investing. Prospectuses may be obtained by contacting PLICO at 800-456-6330.
WEB.5433513.01.24
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 changes from the insurance company and the investment managers.
Withdrawals reduce the annuity's remaining death benefit, contract value, cash surrender value and future earnings. Withdrawals may be subject to income tax and, if taken prior to age 59½, an additional 10% IRS tax penalty may apply. More frequent withdrawals may reduce earnings more than annual withdrawals. During the withdrawal charge period, withdrawals in excess of the penalty-free amount may be subject to a withdrawal charge.
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 prospectuses for a variable annuity and its underlying investment options. Investors should read the prospectuses carefully before investing. Prospectuses may be obtained by contacting PLICO at 800-456-6330.
WEB.5433513.01.24