Income Creator
Protective Life Insurance Company
10%
Free W/D
50
States
A fixed annuity designed to safely grow your retirement savings and provide guaranteed income for life. Ideal for people approaching or in retirement who want predictable income regardless of market performance.
Free Withdrawal
10%/yr
Available In
50 states
Min Premium
$25,000
Surrender
7 years
Key Features
Lifetime Income Benefit
0.95% annual feeYour annual withdrawal amount is locked in when you elect to receive income and continues for life, even after your contract value reaches zero
Guaranteed Interest Rate
7 years guaranteedYour contract earns a competitive fixed interest rate for the entire 7-year initial guarantee period with no market risk
Penalty-Free Withdrawals
10% annuallyAccess 10% of your contract value annually without surrender charges, plus the right to take full income payments under the lifetime benefit
Withdrawal Charges
7% to 1%If you withdraw more than the penalty-free amount during the first 7 years, a declining surrender charge applies (7% Year 1, decreasing to 1% Year 7)
Waivers
After Year 1Withdrawal charges and market value adjustments are waived if you're confined to a nursing facility, diagnosed with terminal illness, or become unemployed
Death Benefit
Full contract valueIf you pass away before income payments begin, your beneficiaries receive the full contract value minus applicable premium tax
Purchase Flexibility
$25,000 - $1,000,000Available for ages 50-80 with minimum purchase of $25,000 and maximum of $1 million
Highlights
Guaranteed lifetime income that continues even if your contract value reaches zero
Safe growth with a competitive fixed interest rate for 7 years with no market risk
Flexible access to your money with 10% annual penalty-free withdrawals
Protection for your legacy with a death benefit paid to beneficiaries
Waivers available for nursing facility confinement, terminal illness, or unemployment
Surrender Schedule
Yr 1
7%
Yr 2
6%
Yr 3
5%
Yr 4
4%
Yr 5
3%
Yr 6
2%
Yr 7
1%
After
0%
Nursing home waiver, Terminal illness waiver, Unemployment waiver
Best For
Retirees and pre-retirees aged 50-80 seeking guaranteed lifetime income, principal safety, and protection against market downturns and longevity risk.
Consider Alternatives If
Individuals who need immediate access to all their funds, expect to withdraw significantly within 7 years, or require exposure to market upside potential.
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