Only need coverage for 10 to 30 years?
Get a free term life insurance quote >
Don't know what type of insurance you need?
Start here. Or call us at 1-844-733-5433.
Learn more >
Want affordable coverage for your child?
Get a free quote today
Get started >
Immediate annuities enable you to convert the money you have into a steady stream of income for the future to help with retirement.
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.
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.
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.*
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.
*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.
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
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.
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.
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.
Protective offers a variety of annuities with different options to choose from based on your retirement needs. To learn more about available annuity options, call
Need more info about annuities? We can help.
Read more about Annuities.
Choosing an annuity is easier when you know what to look for.
Make sure you understand how you can fund an annuity.
Protective and Protective Life refer to Protective Life Insurance Company (PLICO) and its affiliates, including Protective Life & Annuity Insurance Company (PLAICO). Annuities are issued by PLICO in all states except New York and in New York by PLAICO. Both companies are located in Birmingham, AL. Each company is solely responsible for the financial obligations accruing under the products it issues. Product guarantees are backed by the financial strength and claims paying ability of the issuing company.
Neither Protective Life nor its representatives offer legal or tax advice. Any tax-related statements made in this material are based upon general information and represent only one interpretation of current federal tax law as it relates to annuities. Moreover, the tax treatment of annuities is subject to change. Please consult your legal or tax advisor regarding your individual situation before making any tax-related decisions.
Single premium immediate annuity contracts issued under policy form series IPD-2112 (PLICO) and AF-2112 (PLAICO). Policy form numbers, product availability and product features may vary by state.
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.