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Smart Saver NY — Protective Life Insurance Company
Protective Life Insurance Company
Best available rate
5.5%
7-yr guarantee · 7-yr surrender schedule · $100,000+ premium
Highest current rate across the available 4-year, 5-year, 6-year, and 7-year guarantee terms.
View all rates and terms ↓10%
Free W/D
New York
Only state
Rates as of October 9, 2026. CANNEX via AdvisorWorld; confirm rates and state availability before purchase.
Product analyzer
Run numbers for Smart Saver NY
guaranteed rates, terms, state availability, surrender details, and contract facts stay scoped to this Protective Life Insurance Company product.
Live product data
Rates as of October 9, 2026, from AdvisorWorld and CANNEX.
5-year guaranteed rate
5.5% guaranteed for 5 years
The New-York-only multi-year guaranteed annuity from a multi-agency-rated A+-grade carrier, with a four-term menu of 4-, 5-, 6-, and 7-year rate-locks, a declining surrender ladder over seven years, annual free-withdrawal access, and no MVA on early surrender.
Best fit
New York residents who want a multi-year guaranteed annuity from a multi-agency-rated A+-grade carrier with a choice across 4-, 5-, 6-, and 7-year rate-locks inside a single filing, and value an MVA-free early-exit window inside the surrender schedule.
Available guarantee terms
4, 5, 6, and 7 years
AM Best
A+ Superior
Available surrender terms
4, 5, 6, and 7 years
Free withdrawal
10%/yr
Availability
New York only
Product analyst notes
How to think about this contract
Why it can stand out
- This is the New-York-only filing of the carrier's SecureSaver MYGA chassis — a New York buyer cannot purchase the national SecureSaver filing, so this is the path through which Protective Life delivers a multi-year guaranteed annuity to NY residents under New York's separate state-regulatory regime.
- Four-term menu (4, 5, 6, and 7 years), so a NY buyer has a choice across a range of rate-lock horizons inside a single filing rather than being forced into a single carrier-default term.
- Carrier financial-strength is rated by multiple independent agencies (A.M. Best, Standard & Poor's, Moody's) — a multi-agency corroboration that is unusual at this carrier tier in the regional MYGA market and matters more on a multi-year principal lock-in.
- Standard surrender waivers cover nursing-home confinement, terminal illness, and unemployment, alongside an annual free-withdrawal allowance, so the schedule of penalty-free liquidity for both planned partial withdrawals and unplanned life events is visible on this page.
What to confirm
- This contract is available only in New York — buyers outside New York cannot purchase it and should look at the carrier's national SecureSaver filing instead, which carries different rates and a different premium minimum.
- Premium minimum is at the high five-figure range — a higher entry point than the carrier's national SecureSaver filing, reflecting the different premium-band structure New York's filing regime sets, so a NY buyer placing a smaller block of principal may need to look at a different MYGA carrier.
- Published declared rate on this NY filing sits below the rate on the carrier's national SecureSaver filing — New York's separate state-regulatory regime constrains the rate the carrier files in-state, and the gap between the NY and non-NY rates on the same chassis is a real cost of NY residency for this contract.
- No market-value adjustment applies on this NY filing — different from the carrier's national SecureSaver filing — but a seven-year declining surrender ladder still applies on early surrender beyond the annual free-withdrawal allowance. Death benefit is contract value rather than a guaranteed roll-up or step-up, and there is no premium bonus and no income rider — this is a single-purpose fixed-rate deferred contract.
Not ideal for
Buyers outside New York (who must look at the carrier's national SecureSaver filing instead), NY buyers placing a smaller principal block who can't meet the high five-figure premium minimum, buyers who want a rate-lock horizon outside the published 4-, 5-, 6-, and 7-year terms, or buyers who want a premium bonus, a guaranteed-lifetime-withdrawal rider, market-linked upside through index crediting, or a death benefit with a guaranteed roll-up or step-up — a fixed-rate deferred contract is not built for any of those things.
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Guaranteed Rates by Term
| Term | Surrender term | Rate effective | Published rate |
|---|---|---|---|
| 4-Year | 4-Year schedule | Oct 7, 2026 | 5.5%Compound annual rate |
| 5-Year | 5-Year schedule | Oct 7, 2026 | 5.5%Compound annual rate |
| 6-Year | 6-Year schedule | Oct 7, 2026 | 5.5%Compound annual rate |
| 7-Year | 7-Year schedule | Oct 7, 2026 | 5.5%Compound annual rate |
Key Features
Free withdrawal
10%/yrAnnual amount that may be available without surrender charges, subject to contract terms.
Surrender waivers
3Nursing home waiver, Terminal illness waiver, Unemployment waiver
Death benefit
Standard Death BenefitBeneficiary value depends on contract terms, withdrawals, and rider elections.
Annuitization options
Joint life, Single lifePublished payout options from the normalized contract facts.
Fund types
Non-qualified, QualifiedAvailability can vary by state and product terms.
Surrender Schedule
7-Year Version
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
Carrier Ratings
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