Guaranteed income stream with Protective%%®%% Income Creator fixed annuity helps support clients’ retirement goals
We understand some of the current challenges and potential risks in today's landscape. That's why we're excited to announce enhanced withdrawal rates for the Lifetime Income Benefit available with Protective Income Creator fixed annuity to help clients with retirement goals and increase your sales.
We increased withdrawal rates; here’s what it means for clients
Protective Income Creator fixed annuity offers a simple, cost-effective design with one low annual fee to help support clients' retirement goals. Now, our newly enhanced withdrawal rates offer even higher guaranteed income.
We increased our withdrawal rates by 35-75 basis points - creating stronger guaranteed income across a range of retirement ages. For example, a client who purchased Protective Income Creator fixed annuity with a $100K payment at age 60 could see $1,000 more in protected income* with the increased withdrawal rates.
Guaranteed annual withdrawal percentages at key retirement ages*
62
67
Transition rules and key dates to keep in mind
As you consider who in your book of business could benefit from these enhancements, keep these transition rules and key dates in mind.
- New rates will apply to new sales as of November 14, 2022.
- Tickets/Applications dated November 13, 2022, 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 November 28, 2022 (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.
- Tickets/Applications for the Protective Income Creator fixed annuity dated November 14, 2022, and after will be accepted and issued with the new withdrawal rates.
Give Protective Income Creator Fixed annuity another look today
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