• Immediate Annuities

  • Immediate annuities convert assets into income

    Immediate annuities from Protective offer ways for you to convert a lump sum of money into an income stream that meets your needs for the future. Sometimes called an income annuity, this tool essentially takes your purchase payment and converts it to a stream of payments made back to you for a specific length of time -- or for your entire life.

  • Benefits of immediate annuities

  • Simplicity

    Immediate annuities offer a simpler form of this retirement tool, and typically don’t have many of the expenses associated with other types of investments that can impact earnings and be difficult to understand.

  • Guaranteed Return

    Because you earn a set interest rate, you know how your money will perform over time. Your income payments are guaranteed, and you are only taxed on the earnings as you receive them.*

  • Guaranteed Income

    Immediate annuities - or income annuities - allow you to set up a steady stream of income for a set period of time. You can also set up these payouts for the rest of your life - so you won’t have to worry about outliving this income.

  • Protective offers immediate annuity options that enable you to convert assets into an immediate and steady stream of income.

    You want to be confident that the company you are entrusting with your assets will back its promises for the long term. Protective Life’s commitment to help you protect tomorrow is backed by more than 100 years of serving customers like you, as well as our financial strength and stability. To learn more about available annuity options, call
    1-800-833-8991.

  • How immediate annuities work

    Most annuities have two phases. The first phase is when you fund, or purchase them, and you accumulate money within the annuity. The second phase is when they begin providing income. Because you purchase an immediate annuity in one initial deposit, you don’t have an accumulation phase. So immediate annuities are typically chosen to provide income rather than grow money for retirement. You can begin receiving income payments immediately, or delay them for up to 12 months. An immediate annuity can also provide a death benefit to your beneficiary.

  • Income stream options for immediate annuities

    The payments you receive from an immediate annuity can vary depending on your age, life expectancy, and other factors, such as how long you want the payments to continue.

  • Immediate annuities can be customized to offer different types of payouts to choose from, including:

    • Life only annuity – This option ensures that the immediate annuity will provide guaranteed income over the lifetime of an individual. When that person dies, the payments stop, even if only one payment has been made.
    • Joint life annuity or Joint and Survivor annuity – As the name implies, this option allows an immediate annuity to provide joint coverage for two individuals. So that you maintain a selected income stream through the death of the second individual. Based on your contract, the survivor can receive a portion of the annuity payments or the full payments.
    • Period certain annuity – This type of immediate annuity guarantees that the contract pays out for a certain period of time. Payments continue to your beneficiary for the remainder of the period should you die within that time.
    • Life with period certain – Payments are made for a certain number of years or for your lifetime, whichever is longer. If you die during the specified period, the remaining payments are made to your beneficiary.
  • Why choose Protective Life for your immediate annuities?

    When you purchase an annuity for retirement, you begin a long-term relationship with a life insurance company. You want to be sure that company has the experience, character and strength to serve you now and in the future. You want to be confident that company will back its promises for the long term. Protective Life’s commitment to help you protect tomorrow is backed by more than 100 years of serving customers like you, as well as our financial strength and stability.

  • Get a retirement annuity with Protective Life

    Protective offers a variety of annuities with a different options to choose from based on your retirement needs. To learn more about available annuity options, call
    1-800-833-8991.

  • The Learning Center can help you get smart about retirement annuity options

  • What is an annuity?

    Need more info about annuities? We can help.
    Read More.

  • 3 tips for selecting an annuity

    Choosing an annuity is easier when you know what to look for.
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  • 7 annuity payment options

    Make sure you understand how you can fund an annuity.
    Read More.