Smart Saver NY
Protective Life Insurance Company
10%
Free W/D
A fixed annuity designed for New York residents seeking tax-deferred retirement savings with guaranteed principal, flexible withdrawals, and optional premium protection. Offers choice of 4-7 year guarantee periods with no up-front fees.
Free Withdrawal
10%/yr
Available In
1 states
Min Premium
$25,000
Surrender
7 years
Key Features
Guaranteed Principal
100% of purchase paymentsYour initial investment is protected by the insurance company's claims-paying ability
Flexible Guarantee Periods
4, 5, 6, or 7-year optionsSelect your interest rate guarantee term based on your timeline and needs
Penalty-Free Withdrawals
10% of contract value per yearAccess a portion of your contract value annually without surrender charges
Medical Hardship Waivers
Waives all withdrawal charges if qualifiedWithdraw funds without charges if you or spouse face nursing facility confinement, terminal illness, or unemployment
Return of Premium Option
100% of purchase payments returnedGet your full purchase payment back if you surrender before the guarantee period ends, providing principal protection
Pre-Determined Death Benefit
Customizable distribution scheduleControl how your death benefit is distributed to beneficiaries, with payments beginning 30 days after proof of death
Rate Enhancement Tiers
Three tiers: <$50K, $50K-$99,999, $100K+Higher interest rates available based on premium size and contract growth
Highlights
Guaranteed principal with no up-front fees and a $25,000 minimum investment
Choose from 4, 5, 6, or 7-year guarantee periods with tax-deferred growth
Penalty-free access to 10% of contract value annually, plus waivers for nursing facility confinement, terminal illness, and unemployment
Pre-determined death benefit election allows you to control how payments are distributed to beneficiaries
Return of purchase premium guarantee protects your principal investment
Surrender Schedule
Yr 1
9%
Yr 2
8%
Yr 3
7%
Yr 4
6%
Yr 5
5%
Yr 6
4%
Yr 7
3%
After
0%
Nursing home waiver, Terminal illness waiver, Unemployment waiver
Best For
Conservative New York residents aged 0-85 seeking tax-deferred retirement savings with guaranteed principal, limited need for liquidity, and desire for annual penalty-free access to funds.
Consider Alternatives If
Investors who need immediate access to large portions of their funds, prefer market-based growth potential, or are uncomfortable with liquidity restrictions during the guarantee period.
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