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With potential for tax-deferred growth and a guaranteed income stream, annuities can be important to your retirement objectives.
You protect your car, your home and even your life with insurance, but are you leaving your retirement income unprotected? Annuities from Protective may help you grow - and protect - your retirement income.
Any growth within your annuity is tax-deferred until you withdraw it - similar to how a 401(k) works.*
*Annuity payments from a tax-qualified plan will be fully taxable as ordinary income. Withdrawals made prior to age 59 1/2 may be subject to an additional 10% IRS tax penalty.
Annuities can give you a steady stream of income for a set period of time or for your lifetime.
An annuity can pay money directly to your beneficiaries when you die, helping them avoid a lengthy probate process.
Whether you're interested in growing your retirement savings, guaranteed income for life, or both, Protective can walk you through our options. Check out our annuities online or give us a call.
Protective’s annuity options offer ways to grow your retirement nest egg based on your risk tolerance, while also deferring taxes on that growth. And when you’re ready to retire, you have a wide variety of options to guarantee that income stream for as long as you need - even for the rest of your life.
The information below walks you through several uses for annuities and then reviews specific categories and how they work.
An annuity is simply a contract where one party agrees to make either a single payment or a series of payments, and the other party then agrees to do the same in return at some point in the future.
1. Accumulation – A period of time when the owner, or annuitant, is accumulating value in the annuity. This will usually occur before an individual retires.
2. Distribution – The payout phase of an annuity comes when the accumulated value is distributed – either via a lump sum or a series of payments over time.
At Protective Life, we offer different types of annuities to help meet your particular financial goals in retirement. Our annuities include enhanced income features, competitive fees and expanded investment options.
Product guarantees are backed by the
financial strength and claims-paying ability of the issuing company. Withdrawals made during an annuity’s surrender period may be subject to surrender charges. Annuity withdrawals made prior to age 59 ½ may be subject to a 10% penalty tax.
Annuities have no FDIC or NCUA insurance. The guarantees offered are backed by the strength of the issuing insurance carrier. That makes it even more important to choose a carrier you can trust. Protective Life has been around for more than 100 years, and carries high ratings from independent rating organizations.
Protective Life offers a wide variety of annuities to meet your needs. To learn more, call 1‑800‑833‑8991
Need more info about annuities? We can help.
Read more about Annuities.
Find out if an annuity fits your retirement plan with this information.
Read more about Boosting Retirement with Annuities.
Choosing an annuity is easier when you know what to look for.
Variable annuities issued by Protective Life Insurance Company (PLICO) in all states except New York and in New York by Protective Life & Annuity Insurance Company (PLAICO). Securities offered by Investment Distributors, Inc. (IDI). All companies located in Birmingham, AL. IDI is the principal underwriter for registered insurance products issued by PLICO and PLAICO, its affiliates.
As you determine what annuity might be right for you, remember they are intended as vehicles for long-term retirement planning, which is why withdrawals reduce an annuity’s remaining death benefit, contract value, cash surrender value and future earnings. Annuities also may be subject to income tax and, if taken prior to age 59 ½, an additional 10% IRS tax penalty may apply. Because Protective and its representatives do not offer legal or tax advice, it is important that you talk with your own legal and tax advisor about your specific tax situation.
Product guarantees are backed by the financial strength and claims-paying ability of the issuing company.
Investors should carefully consider the investment objectives, risks, charges and expenses of a variable annuity 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. Prospectuses may be obtained by contacting PLICO at 800.265.1545.
An indexed annuity is not an investment in an index, is not a security or stock market investment and does not participate in any stock or equity investments.
Annuities are not a deposit, not insured by any federal government agency, carry no bank or credit union guarantee, are not FDIC/NCUA insured and may lose value.