Why it earned this rating
Our assessment
Secure Saver 5-Year is one of the more competitive 5-year MYGAs in the broader market. The 5.15% rate at $75,000+ is meaningful and the 10% annual account-value liquidity is generous for the duration. The product is sold through full-service broker-dealers, independent broker-dealers, banks, and the independent agent channel — broader distribution than the Smart Saver line.
The short version
For buyers who want a competitive 5-year MYGA from an A-plus carrier with meaningful liquidity and broad distribution, Secure Saver 5-Year is a strong choice. The 5.15% rate at $75K+ is competitive against broader-market 5-year MYGAs.
Key facts
**Product Type** Multi-Year Guaranteed Annuity (flexible premium first year)
**Issue Ages** 0–85 NQ; 18–85 Q
**Minimum Premium** $10,000
**Surrender Period** 5 years (9, 8, 7, 6, 5, 0%)
**Free Withdrawal** 10% of premiums in year 1; 10% of account value in years 2+
**Crediting** Single fixed rate guaranteed for 5 years
**Income Rider** Not available
**Market Value Adjustment** Yes
The full review
Is Protective Secure Saver Fixed Annuity 5-Year a Good Annuity?
Yes, and it is one of the more competitive 5-year MYGAs in the broader market. It fits buyers who want a strong rate, meaningful liquidity, and Protective's carrier strength across multiple distribution channels.
Why Someone Would Buy This Annuity
The main reason is the competitive 5.15% guaranteed rate at $75K+. The secondary reason is the 10% annual account-value liquidity, which is generous for a 5-year MYGA, and the broad distribution that makes the product accessible across most channels.
Who This Annuity Is Best For
I think Secure Saver 5-Year fits best for buyers in their 40s through 70s who want a competitive 5-year MYGA, value broad distribution, and have $75,000+ to deploy at the highest rate band. The product is also a fit as a CD alternative for buyers who can accept the surrender structure.
What You're Really Buying Here
You are buying a tax-deferred fixed-rate annuity with a 5-year guarantee at a competitive rate, with 10% annual account-value liquidity and an A-plus carrier. You are not buying market exposure or indexed crediting.
How the Core Feature Works
Secure Saver 5-Year credits a fixed rate guaranteed for the full 5-year surrender period. Rates are 3.95% / 4.80% / 5.15% across the three rate bands ($25K and $75K). There is no Return of Premium rider — buyers wanting that protection should look at Protective's Secure Saver Pro 5-Year alternative.
Why the Secondary Feature Matters
The broad distribution is the meaningful secondary feature. Unlike Smart Saver (bank only) or Income Creator (full-service B/D only), Secure Saver 5-Year is available through full-service broker-dealers, independent broker-dealers, banks, and the independent agent channel — making the product accessible to most buyers.
Liquidity and Surrender Schedule
Free withdrawals are 10% of premiums in year 1, 10% of account value in years 2+. Surrender charges run 9, 8, 7, 6, 5, then 0 percent over five years, plus a market value adjustment. Nursing home, terminal illness, and unemployment waivers are available.
Fees and Tradeoffs
There are no rider fees, M&E charges, or annual contract fees. The trade is the absence of Return of Premium protection (available in Smart Saver) and the MVA exposure on early withdrawals beyond the free amount.
Product snapshot
| Feature | Details |
| --- | --- |
| Product type | Multi-year guaranteed annuity |
| Issue ages | 0-85 NQ; 18-85 Q |
| Minimum premium | $10,000 |
| Surrender schedule | 9, 8, 7, 6, 5, 0% |
| Market value adjustment | Yes |
| Free withdrawal | 10% of premiums year 1; 10% of account value year 2+ |
| Current fixed rate | 3.95% / 4.80% / 5.15% (low / $25K / $75K) |
| Rate guarantee period | 5 years |
| Income rider | Not available |
| Death benefit | Full account value |
| Surrender waivers | Nursing home, terminal illness, unemployment |
| MGSV | 1.00% to 3.00% guaranteed annual return |
| State availability | Not available in NY; variations in CT, MA, NH, UT |
Carrier snapshot
Protective Life Insurance Company is part of Protective Life Insurance Corporation. A.M. Best A-plus, S&P AA-minus. Distributed through full-service broker-dealers, independent broker-dealers, banks, and the independent agent channel.
Final take
Secure Saver Fixed Annuity 5-Year is one of the more competitive 5-year MYGAs in the broader market. The 5.15% rate at $75K+ is meaningful, the liquidity is generous for the duration, and the distribution is broad. For buyers who want a strong rate from an A-plus carrier without channel constraints, this is a solid choice.