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ProtectiveAccess XL is designed to answer the demands of annuity buyers who are increasingly savvy in their understanding of variable annuities and the role they may fill in planning for long-term retirement needs.
"Today's consumers are looking for variable annuities that can do it all. They want competitively priced products with innovative features and guaranteed income provisions, while still retaining liquidity in their contracts," said Eric Miller, Vice President and National Marketing Director for Protective's Life and Annuity Division.
A total annual charge of 1.55% for mortality and expense risk charges and administration charges, places ProtectiveAccess XL as a competitively priced C-share product. The optional SecurePay Withdrawal Benefit(SM) offers purchasers lifetime income annual withdrawal amounts ranging from 4.5% to 7% of the Benefit Base (a contractually defined amount that is used to calculate annual withdrawal amounts and the monthly rider fee) along with innovative features such as the RightTime(SM) option, which allows the client to decide when to add--and pay for--the benefit. And because ProtectiveAccess XL carries no surrender charges, purchasers can be assured they will have access to their account value should they have unexpected liquidity needs.
"The ProtectiveAccess XL variable annuity's features speak directly to the needs of today's variable annuity buyers," Miller continued. "The introduction of this product is a prime example of Protective Life's continued commitment to developing products with innovation and consumer value in mind."
Financial advisors will find the product changes to be agreeable as well. In addition to offering a consumer-friendly product to meet their client's needs, ProtectiveAccess XL can better meet the advisor's needs with re-designed product compensation that more closely match the growing orientation towards asset based fees than previous designs.
Consumers are encouraged to contact their insurance and financial advisors for more information about the ProtectiveAccess XL variable annuity as well as Protective Life's other life insurance and annuity products. These products are designed to help address critical needs throughout various stages of the financial lifecycle, and may play meaningful roles in building, protecting, distributing and transferring wealth.
Financial Advisors interested in selling the ProtectiveAccess XL variable annuity should check with their Broker/Dealer regarding availability or contact the Protective Annuity Sales Desk at (800) 628-6390 for more information.
Important Consumer Information
Purchase of the SecurePay Withdrawal Benefit has certain requirements and restrictions, is available at an additional cost, and will affect the underlying annuity contract features. For complete details, please read the prospectus. Subject to state availability.
Variable annuity contracts issued by Protective Life Insurance Company (PLICO). Securities offered by Investment Distributors, Inc. (IDI). Both located at 2801 Highway 280 South, Birmingham, AL 35223. PLICO and IDI are each subsidiaries of Protective Life Corporation. Protective Life Corporation is a separate company and is not responsible for the financial condition or the contractual obligations of PLICO or IDI.
Policy form number IPV-2112 and -2113 (and state variations thereof). Flexible premium deferred variable and fixed annuity contracts. Product features and availability may vary by state. SecurePay Withdrawal Benefit provided by rider form number IPV-2154 (and state variations thereof).
All guarantees are subject to the claims-paying ability of Protective Life Insurance Company.
Keep in mind that variable annuities are long-term investments intended for retirement planning and involve market risk and the possible loss of principal. Investments in variable annuities are subject to fees and charges from the insurance company and the investment managers.
Investors should carefully consider the investment objectives, risks, charges, and expenses of a variable annuity, any GMWB rider, and the underlying investment options before investing. This and other information is contained in the prospectuses for a variable annuity and its underlying investment options. Investors should read the prospectuses carefully before investing. Prospectuses may be obtained by contacting PLICO at (800) 456-6330.
About Protective Life Insurance Company
Celebrating its 100th year of service, Protective Life Insurance Company was built upon a belief in hard work and integrity. The Company's continued commitment to these timeless principles is reflected in its dedication to three core values: quality, serving people, and growth.
Protective Life Insurance Company's values-oriented management philosophy was established by its founder, former Alabama Governor William Dorsey Jelks. Governor Jelks left an indelible imprint on the Company by insisting that quality - in products, in service, and in people - be the standard applied to every aspect of its business. Understanding that serving people begins with being worthy of their trust, Jelks' initial pledge to Protective Life's customers, shareholders, and employees remains today the focus of the Company's leadership.
One hundred years later, Protective Life Insurance Company is one of the nation's leading insurance companies, providing financial security to individuals and families across the country through a broad portfolio of life and specialty insurance and investment products. Drawing upon the strengths of the past, while maintaining a keen eye toward the future, the Company's employees nationwide are dedicated to affirming the wisdom of our collective vision: Doing the right thing is smart business.(R)
SOURCE: Protective Life Insurance Company
Protective Life Insurance Company Eric Miller, 205-268-3029 Vice President and National Marketing Director eric.miller@protective.com or Protective Life Corporation Rob Shirley, 205-268-6259 Vice President, Investor Relations rob.shirley@protective.com
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