We increased withdrawal rates on our Protective%%®%% Income Creator fixed annuity
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*
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 Wholesaler.
We’re here for you