Protective Income Builder review

Yes, and for income-focused buyers it is one of the better choices on the market. It fits buyers age 50 to 85 who want aggressive rollup growth, a 7-year surrender window, and Protective's carrier strength. It is not the right product for accumulation-focused buyers.

The main reason is the 10.00% simple rollup over 10 years — among the most competitive in the income FIA market. The secondary reason is the structural advantage of a 7-year surrender schedule paired with a 10-year rollup period, which means the surrender period ends three years before the rollup period does. The combination of an aggressive rollup, automatic step-ups, and the relatively low 1.00% rider charge makes this product stand out.

I think Income Builder fits best for someone in their 50s through early 70s who wants a known income stream they can plan around, who values the aggressive rollup as protection against market underperformance during the deferral period, and who is comfortable with a 7-year surrender commitment.

You are buying an FIA with a mandatory rider that creates a separate benefit base growing at 10.00% simple for 10 years. The benefit base drives future income payments; the account value is what you can access. The 10% rollup is more aggressive than most competitors and creates a strong floor for income calculations.

The mandatory Guaranteed Income Benefit VIII provides two options. Option 1 pays a level percentage based on commencement age: 5.50% single at age 60, 7.15% at 70, 7.95% at 80, 8.50% at 90. Option 2 starts lower (4.60% at 60, 5.90% at 70) and increases the next year's payment based on attained age, until age 95 or account value zero. The 10.00% simple rollup runs for 10 years or until income commences. Annual step-ups apply if account value exceeds benefit base. There is also a 2% annuitization bonus if the contract is annuitized for at least 10 years after the tenth contract anniversary.

The 7-year surrender schedule paired with a 10-year rollup is the meaningful structural advantage. Buyers exit the surrender period three years before the rollup period ends, giving them flexibility to access funds without surrender penalty during the back end of the rollup window. This is unusual in the income FIA market.

Free withdrawals are 10% of premiums in year 1, 10% of account value in years 2+ (with a $10,000 minimum balance). Surrender charges run 7, 6, 5, 4, 3, 2, 1, then 0 percent over seven years, plus a market value adjustment. Nursing home, terminal illness, and unemployment waivers are available.

The mandatory rider charge is 1.00% annually on the benefit base, deducted monthly from account value. Maximum future charge is 2.00%. The rider cannot be terminated. Indexed caps are constrained to fund the guarantees — S&P 500 standard caps are 5.70% / 6.00%, high-cap S&P 500 4.70% / 5.00%, biennial Citi Flexible Allocation 6 92% / 100% participation, performance-triggered S&P 500 3.70% / 4.00%.

| Feature | Details |

| --- | --- |

| Product type | Fixed indexed annuity with mandatory GLWB |

| Issue ages | 50-85 |

| Minimum premium | $25,000 |

| Surrender schedule | 7, 6, 5, 4, 3, 2, 1, 0% |

| Market value adjustment | Yes |

| Free withdrawal | 10% of premiums year 1; 10% of account value year 2+ |

| Crediting options | 4 indexed strategies plus a 1-year fixed account |

| Current fixed account rate | 3.00% / 3.15% (low / $100K) |

| Income rider | Mandatory; 1.00% annual charge on benefit base |

| Rollup | 10.00% simple over 10 years |

| Death benefit | Greater of full account value or minimum guaranteed surrender value |

| Surrender waivers | Nursing home, terminal illness, unemployment |

| MGSV | 87.5% at 1-3% less surrender charges |

| State availability | Not available in New York; variations in CT, MA, NH, UT |

Protective Life Insurance Company is part of Protective Life Insurance Corporation. A.M. Best A-plus, S&P AA-minus. Distributed through banks, broker-dealers, and the independent agent channel.