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Fixed Indexed Annuity

Protective Income Builder

Protective Life Insurance Company

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6%

Best S&P 500 Annual Cap

10%

Free W/D

50

Jurisdictions

Product data status: July 3, 2026

Rates, state availability, rider terms, and contract language must be confirmed with a licensed financial advisor or insurance professional before purchase. Guarantees are backed by the issuing insurer.

Model this product

See what Protective Income Builder would do for you

Set your numbers and switch between growth, income, and liquidity. Index losses credit 0% — the floor — so a down market never reduces your value.

Product analyzer
Illustrative — live CANNEX rates as of July 3, 2026; not a projection or guarantee.
Crediting strategy
Compare against
$251,898
Est. value at age 80 (Protective Income Builder)
6%
Best S&P 500 1-yr point-to-point cap
S&P 500 Index — 6% Cap (Annual)
✦
How crediting works: the cap limits positive index returns; a down year credits 0%, never a loss. A cap strategy tracks the index within its terms. What is a cap vs participation? →
Assumptions: illustrative — applies Protective Income Builder's published cap rate (6% on S&P 500 Index) to a standard benchmark hypothetical index path (~5.4%/yr average, including down years) with a 0% floor over 20 years. Not a projection, quote, or guarantee. Live CANNEX rates as of July 3, 2026.

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See how Protective Income Builder compares for your age, state, premium, and income goals alongside other Protective Life Insurance Company fixed indexed annuity options.

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Live rate data

Run live numbers for Protective Income Builder

Current rates, riders, crediting strategies, state availability, and contract facts stay scoped to this Protective Life Insurance Company product.

Live product data

Rates as of July 3, 2026, based on the latest AdvisorWorld scan of CANNEX data.

GLWB lifetime payout rate

5.5% lifetime payout + 10% roll-up

An income-led fixed indexed annuity on a 7-year surrender chassis from a multi-agency-rated A+-grade carrier, built around an optional GLWB rider in two flavors (Level Income and Rising Income), with a published deferral roll-up, RMD-friendly mechanics, and a focused S&P 500 cap plus Citi participation strategy underneath.

1% annual rider feeAdvisorWorld + CANNEX data

Best fit

Buyers who want lifetime income from a real, optional GLWB rider but prefer a shorter 7-year surrender commitment over the 10- and 14-year chassis most income-rider FIAs require, with RMD-friendly mechanics for qualified-money use.

AM Best

A+ Superior

Surrender period

7 years

Free withdrawal

10%/yr

Availability

50 jurisdictions (excl. New York)

Featured crediting strategies

Index / strategyRate mechanics

S&P 500

S&P 500 Index

6% cap rate

Annual cap

1-year term · 7-year surrender · $100,000+

Rate varies by premium band.

S&P 500

S&P 500 Index

4% trigger rate

Performance trigger

1-year term · 7-year surrender · $100,000+

Rate varies by premium band.

S&P 500

S&P 500 Index

5% cap rate

Annual cap

7-year term · 7-year surrender · $100,000+

Rate varies by premium band.

Fixed Account

Fixed Account

3.15% declared rate

Fixed account

1-year term · 7-year surrender · $100,000+

Rate varies by premium band.

+ 2 additional crediting options (Citi Flexible...)

Lifetime Income Riders

Income rider

GIB - Income Option - Income Builder

Lifetime payout rate5.5% lifetime payout
Annual rider fee1% annual rider fee
Guaranteed roll-up10%/yr

Income rider

GIB - Rising Income Option - Income Builder

Lifetime payout rate4.6% lifetime payout
Annual rider fee1% annual rider fee
Guaranteed roll-up10%/yr

Product analyst notes

How to think about this contract

Why it can stand out

  • Lifetime income comes via a real optional GLWB rider in two flavors — a Level Income Option (level lifetime payout) and a Rising Income Option (income that can step up over time) — so buyers can pick the income mechanism that matches their preference for a flat payout versus an inflation-aware payout pattern.
  • The rider publishes a meaningful roll-up rate on the income base for a defined deferral period, so a buyer deferring income for several years builds the lifetime payout base on a path the contract spells out at issue rather than at carrier discretion.
  • Seven-year surrender chassis is shorter than most income-rider FIAs in the market — the surrender ladder steps down by one percentage point every year from a single-digit year-one charge to a low-single-digit final year — so a buyer who wants rider-led income without committing to a 10- or 14-year surrender has a real shorter-commitment option.
  • Carrier financial-strength is rated by multiple independent agencies (A.M. Best, Standard & Poor's, Moody's), and the GLWB rider is flagged RMD-friendly in the live feed for qualified-money buyers.

What to confirm

  • The GLWB rider carries an explicit annual fee charged on the income base, not the account value — effective cost can run higher than the headline fee rate as the income base outgrows the account value during deferral, so model the rider through to expected income start before committing.
  • A market-value adjustment applies on early surrender beyond the free-withdrawal allowance, so the real cost of an unplanned exit depends on the interest-rate environment at the time and may exceed the published surrender-charge percentage.
  • The published index menu on this contract is narrower than several Protective accumulation FIAs — primarily an S&P 500 annual point-to-point cap, an S&P 500 performance-trigger declared rate, and a Citi Flexible Allocation 6 participation strategy — so account-value growth potential is more limited than on a wider-menu accumulation product, which is by design for an income-led chassis.
  • The headline withdrawal rate is the lifetime payout rate from the GLWB rider, not a guarantee on the account value. Account-value performance is separate from the rider's lifetime payout and not directly comparable to a MYGA fixed rate.

Not ideal for

Buyers who need short-surrender liquidity inside the 7-year window, a rider-fee-free income mechanism (a Protected Income Value chassis), a wider index menu for accumulation upside, a plain MYGA-style declared rate, or an MVA-free early-exit window — none of those are what this contract is built to deliver.

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All crediting strategies

View rate listings (10 rows)

These are the current crediting strategy listings returned for this product. Use the filters to narrow by index, term, premium band, or rate type.

Cap: 6% · 1-yr

S&P 500 Index

cap

7-yr surrender$100,000+

Trigger: 4% · 1-yr

S&P 500 Index

trigger

7-yr surrender$100,000+

Fixed: 3.15% · 1-yr

Fixed Account

fixed

7-yr surrender$100,000+

Par: 100% + Spread: 0% · 2-yr

Citi Flexible Allocation 6 Index

participation

7-yr surrender$100,000+

Cap: 5% · 7-yr

S&P 500 Index

cap

7-yr surrender$100,000+

Cap: 5.7% · 1-yr

S&P 500 Index

cap

7-yr surrenderUp to $99,999.99

Trigger: 3.7% · 1-yr

S&P 500 Index

trigger

7-yr surrenderUp to $99,999.99

Fixed: 3% · 1-yr

Fixed Account

fixed

7-yr surrenderUp to $99,999.99

Par: 92% + Spread: 0% · 2-yr

Citi Flexible Allocation 6 Index

participation

7-yr surrenderUp to $99,999.99

Cap: 4.7% · 7-yr

S&P 500 Index

cap

7-yr surrenderUp to $99,999.99

Income riders

Income rider

GIB - Level Income Option - Income Builder

Lifetime withdrawal rate5.5%
Annual rider fee1%
Withdrawal-base growth10% roll-up

GLWB

Income rider

GIB - Rising Income Option - Income Builder

Lifetime withdrawal rate4.6%
Annual rider fee1%
Withdrawal-base growth10% roll-up

GLWB

Common questions about Protective Income Builder

● Can I lose money in Protective Income Builder?

A negative index return by itself does not reduce the contract's account value: Protective Income Builder credits 0% — the floor — for that indexed period. The account value can still decrease from applicable rider fees, Performance Rate Rider or other strategy charges, administrative charges, withdrawals, surrender charges, or other contract-specific deductions. In years with no credited interest, those deductions can reduce the account value. Up to 10% of your value can be withdrawn each year without a charge; withdrawals above the penalty-free amount during the surrender period can incur a surrender charge.

● Is the GIB - Level Income Option - Income Builder income rider worth the 1% fee?

It depends on whether you will use the guaranteed income. If you are accumulating only, you can skip it. If you want guaranteed lifetime income later, the 10% roll-up and 5.5% withdrawal rate can make it worthwhile — model it in the Income tab of the analyzer above.

● When can I access my money without a surrender charge?

Up to 10% of your account value each year is penalty-free. The surrender period runs 7 years; after that you reach full liquidity. The Liquidity tab of the analyzer shows the year-by-year surrender charge.

● How do Protective Income Builder's crediting strategies compare?

Use "Compare against" in the analyzer to overlay another current Protective Income Builder strategy on the same premium, age, years, and hypothetical index path. The control labels the strategy type, rate, index, and context so caps, participation rates, triggers, spreads, and fixed-account choices are not treated as interchangeable.

Key Features

Free withdrawal

10%/yr

Annual amount that may be available without surrender charges, subject to contract terms.

Surrender waivers

3

Nursing home waiver, Terminal illness waiver, Unemployment waiver

Death benefit

Standard Death Benefit

Beneficiary value depends on contract terms, withdrawals, and rider elections.

Cap-rate floor

1.50%

Minimum guaranteed cap for cap-based indexed strategies.

Declared-rate floor

1.25%

Minimum guaranteed declared rate for declared-rate or performance-trigger strategies.

Fixed account guarantee

1.00%

Guaranteed minimum interest rate for the fixed account.

Participation-rate floor

50.00%

Minimum guaranteed participation rate for participation-rate indexed strategies.

Maximum spread

0.00%

Maximum spread: 0.00%

Annuitization options

Single life

Contract conversion options should be confirmed before purchase.

Fund types

Non-qualified, Qualified

Availability can vary by state and product terms.

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, Surrender waivers

Documents

brochure

PAC-5319-05-22-PIB-InterestCreditingStrategies-Brochure-6-10-22-digital.pdf

Confidence: highReviewed Apr 8, 2026

Direct link not published — request the document from the carrier.

Carrier Ratings

AM BestA+
S&PAA-
Moody'sA1
S&PAA-

Contract notes from product data

Crediting design

How the interest-crediting choices are framed

Protective Income Builder currently shows 9 distinct indexed or fixed crediting choices across 10 current rate listings, including S&P 500 Index, with 2 volatility-controlled index options grouped separately. These choices matter because caps, participation rates, fixed accounts, spreads, renewal terms, and fee-bearing rider variants are different mechanics and should not be ranked as one simple rate list.

  • S&P 500 Index: 6% annual cap
  • S&P 500 Index: 5.7% annual cap
  • S&P 500 Index: 100% annual participation rate
  • S&P 500 Index: 5% 7-year cap

Income rider language

What to look for before treating the rider as income

GIB - Level Income Option - Income Builder is the main income-rider entry returned for this product. Rider terms can affect the tradeoff between future lifetime withdrawals, contract value, beneficiary value, and cost, so the exact state version and rider election should be confirmed before comparing it to annuitization or income-only contracts.

  • 5.5% withdrawal rate
  • 1% rider fee

Liquidity terms

Why access rules deserve as much attention as rates

A fixed indexed annuity can preserve more control than an income-only contract, but access is still governed by the surrender schedule, free-withdrawal terms, and waiver language. Those details are where many product comparisons become more meaningful than a simple rate list.

  • 10%/yr free withdrawal
  • 7 surrender years
  • Nursing home waiver
  • Terminal illness waiver
  • Unemployment waiver

Verification note

Use carrier materials as term evidence, then confirm the current version

Carrier materials such as PAC-5319-05-22-PIB-InterestCreditingStrategies-Brochure-6-10-22-digital.pdf help explain the contract language behind the data on this page; the latest document activity we see is Apr 24, 2026. For the current brochure, rate sheet, or specimen contract, confirm the state-specific version with the carrier or a licensed financial professional.

  • Rates and rider terms can vary by state and issue age
  • Carrier guarantees depend on claims-paying ability
  • Current contract forms should be confirmed before purchase

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See how Protective Income Builder compares for your age, state, premium, and income goals alongside other Protective Life Insurance Company fixed indexed annuity options.

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