Protective Life Annuity Rate Decrease

Good afternoon – as I’m sure you are aware, overall interest rates have rapidly decreased since the Fed announcement earlier this week.

Unfortunately, there will be decreases in Secure Saver (MYGA) interest rates beginning with sign date December 26 or later.  Sign dates of December 25 or prior can qualify for the current rates. 

• Secure Saver 5 & 7 Year – both terms, all premium bands down 35 bps

There are no other rate changes at this time.

Transition rules – due to the dynamic interest rate environment, new business paperwork and funding must be received within the timeframes shown below, there will be not allowances outside of these parameters.

• Transfers/exchanges
  • application and transfer/exchange forms must be received no later than 14 calendar days after sign date
    • To get current rates the sign date must be December 25 or prior
  • our LAD 1120 transfer/exchange form must be marked for Rate Lock near the bottom of Page 1
  • a 60 day rate lock from the sign date will be given, premium must be received within 60 days

• Cash/check cases – we cannot rate lock funded cases
  • Application and funds must be received no later than 14 calendar days after sign date.  To get current rates the sign date must be December 25 or prior

(edited 12/19/23 to reflect correct signature dates as there was an error in the original communication)