REMINDER – Protective Indexed Annuity II and Protective Asset Builder will Close for New Sales Through BGAs After 12/31/20

Protective Indexed Annuity II (PIA II) and Protective Asset Builder (PAB) will close for new sales through BGAs after 12/31/2020. 

They are being replaced by our new Limited Distribution accumulation FIA, Protective Asset Builder II 10 YR, which is available only to the same BGAs (and their downlines) as those approved to offer Protective Guaranteed Income.  Please notify your wholesalers and agents about the closures, additional information will follow with details and transition rules.

PIA II or PAB New business signed by December 31 or earlier, with application and check or application and transfer/exchange paperwork received by January 15, can qualify to be issued as the current products.  Business submitted with our transfer/exchange form gets 60 days from sign date for funds to be received. 

**If client-initiated, include Page 1 of our transfer/exchange form (no signature needed) with the Client Initiated box checked – we must have information to track the 60 days.

**For cases with both cash (check) and transfer/exchange premium, the cash portion of the premium must be received by January 15 – do not wait to send the cash portion.

Transition rules for existing product versions: 

Protective Asset Builder 

• The current version of the Protective Asset Builder Annuity will be closed to new sales as of December 31, 2020. 
• Tickets/Applications signed by 12/31/2020 and received as shown below can qualify to be issued as the current Protective Asset Builder.  
• Cash/applications/any 1035 exchange paperwork related to these new tickets/applications must be received no later than January 15, 2021.
• Previously submitted annuity tickets/applications for the Protective Asset Builder Annuity that are waiting for funding from 1035 exchanges and/or Not In Good Order (NIGO) items will continue to be processed through existing procedures. 

Protective Indexed Annuity II 

• The current version of Protective Indexed Annuity II will be closed to new sales as of December 31, 2020.
• Tickets/Applications signed by 12/31/2020 and received as shown below can qualify to be issued as the current Protective Indexed Annuity II. 
• Cash/applications/any 1035 exchange paperwork related to these new tickets/applications must be received no later than January 15, 2021 
• Previously submitted annuity tickets/applications for the Protective Indexed Annuity II that are waiting for funding from 1035 exchanges and/or Not In Good Order (NIGO) items will continue to be processed through existing procedures.