Protective Life Insurance Company Introduces Protective Indexed Annuity

Protective Life Insurance Company today announced the release of the Protective Indexed Annuity. The annuity includes a range of withdrawal charge schedules and three interest crediting strategies to help customers grow contract value over time. It also has available principal protection.

“Less-than-favorable market conditions have consumers looking for low risk investment options which offer better returns than are available in some financial products,” said Carolyn Johnson, chief operating officer for Protective Life. “With its collection of unique features, the Protective Indexed Annuity fills that need.”

Along with a fixed interest crediting strategy, the Protective Indexed Annuity offers two indexed interest crediting strategies, annual point-to-point and annual tiered rate. The latter credits an industry-unique interest rate enhancement when index performance meets or exceeds a pre-determined performance tier.
The product also offers the flexibility to access contract value for unforeseen circumstances, such as unemployment, terminal illness and nursing home confinement.

“Consumers know they need to invest their money to protect their financial tomorrow, but the low interest rate environment combined with the risk associated with stock market investment have led them to reconsider their choices,” Johnson said. “The Protective Indexed Annuity provides customers comfort by knowing that they are protected from the downside, but given the opportunity for a higher rate of return, all with an optional return of premium benefit.”