Protective Guaranteed Income FIA Withdrawal Rate Change Effective 06/07/21

Protective® Guaranteed Income Indexed Annuity Withdrawal Rate Changes

At Protective, we strive to offer competitive rates on our products to help people protect their retirement and income needs.

To align our current income guarantees with economic conditions, Protective is lowering some of the withdrawal rates for the Guaranteed Income Benefit available with Protective® Guaranteed Income Indexed Annuity, effective June 7, 2021. The new rates continue to provide robust guaranteed lifetime income in this challenging environment.

Please review the following for additional information and along with the attachment for new withdrawal rates.

Transition Rules

• The current withdrawal rates offered on the Protective Guaranteed Income Indexed Annuity will be changed as of June 7, 2021.
• Tickets/Applications dated June 6, 2021 or earlier will receive the current withdrawal rates, provided:
  
  • Cash/Applications/Any 1035 exchange paperwork related to these new tickets/applications must be received no later than June 18, 2021.
  • Previously submitted Annuity tickets/applications that are waiting for funding from 1035 exchanges and/or resolution of Not In Good Order (NIGO) items will continue to be processed through existing procedures.
• Tickets/Applications for the PGI Indexed Annuity dated June 7, 2021 and after will be accepted and issued with the new Guaranteed Income Benefit withdrawal rates.