Why it earned this rating
Our assessment
Schwab Genesis Advisory is among the lowest-cost VAs available. The 0.25% total annual expense is exceptional, there are no surrender charges, and the product offers 129 subaccounts plus optional living benefit rider. Issued by Protective Life with Schwab branding for distribution.
The short version
For Schwab advisory clients who want a low-cost VA with no surrender lockup and broad investment choice, Schwab Genesis Advisory is one of the most attractive products on the market. The 0.25% base expense is roughly half of even the lowest-cost competing VAs.
Key facts
**Product Type** Variable Annuity (I-share, no surrender, flexible premium first year)
**Issue Ages** 0–85
**Minimum Premium** $5,000
**Surrender Period** None (0 years)
**Subaccounts** 129 variable plus a 1-year fixed account
**Annual Contract Fee** None
**Total Annual Expense** 0.25%
**Income Rider** SecurePay II (Schwab) optional
**Channel** Schwab Registered Investment Advisor only
The full review
Is Schwab Genesis Advisory a Good Annuity?
Yes, and for Schwab advisory clients it is among the best-positioned VAs in the market. It fits buyers working with a Schwab fee-based advisor who want exceptionally low-cost, no-surrender market exposure. It is not relevant for buyers outside the Schwab advisory channel.
Why Someone Would Buy This Annuity
The main reason is the exceptionally low 0.25% total annual expense paired with no surrender charges. The secondary reason is the 129-subaccount menu, which gives advisors meaningful allocation flexibility. The optional SecurePay II (Schwab) rider provides income guarantees for clients who want them.
Who This Annuity Is Best For
I think Schwab Genesis Advisory fits best for Schwab advisory clients of any age who want tax-deferred market exposure within a VA structure but do not want the surrender-charge cost typical of commission-based VAs. The product is also a fit for clients using 1035 exchanges from older, higher-cost VAs.
What You're Really Buying Here
You are buying tax-deferred market exposure through an I-share VA structure issued by Protective Life and distributed through Schwab. You are not buying principal protection. The 0.25% total annual expense applies daily to subaccount values. Your Schwab advisor charges a separate advisory fee.
How the Core Feature Works
Schwab Genesis Advisory has no surrender charges. Buyers can exit at any time without insurance-company penalty. The 129 variable subaccounts span institutional and retail share classes, with net fees from 0.03% to 3.29%. Optional SecurePay II (Schwab) provides GLWB-style income guarantees. The Return of Purchase Payments Death Benefit (Schwab) is also available. A 2% annuitization bonus applies for contracts annuitized at least 10 years after the tenth anniversary.
Why the Secondary Feature Matters
The 0.25% base expense is the meaningful structural feature. Most VAs run 0.30% to 1.40% in base costs. Schwab Genesis Advisory's 0.25% is among the lowest in the entire VA market, leaving more of the subaccount return in the buyer's pocket.
Liquidity and Surrender Schedule
There are no surrender charges. Buyers can withdraw any portion of account value at any time without insurance-company penalty (advisory fees and tax consequences may still apply). Surrender waivers are listed as N/A because there is no surrender schedule.
Fees and Tradeoffs
The 0.25% total annual expense (0.15% M&E + 0.10% admin) is exceptional. There is no annual contract fee. Subaccount fees range from 0.03% to 3.29% net — buyers can build extremely low-cost portfolios using institutional share classes. Advisory fees are typically deducted directly from subaccount values.
Product snapshot
| Feature | Details |
| --- | --- |
| Product type | Variable annuity (I-share, no surrender) |
| Issue ages | 0-85 |
| Minimum premium | $5,000 |
| Surrender schedule | None |
| Annual contract fee | None |
| Total annual expense | 0.25% |
| Subaccount fee range | 0.03% to 3.29% |
| Subaccounts | 129 variable plus 1 fixed |
| Current fixed account rate | 1.00% |
| Free withdrawal | All account value available at any time |
| Income rider | Optional SecurePay II (Schwab) |
| Death benefit | Greater of full account value or premiums paid (adjusted) |
| Surrender waivers | N/A |
| MGSV | N/A |
| State availability | Not approved in NY; variations in CT, NH, PA, SD, UT |
| Channel | Schwab RIA only |
Carrier snapshot
Issued by Protective Life Insurance Company (A.M. Best A-plus, S&P AA-minus), distributed through Charles Schwab as Schwab Genesis Advisory Variable Annuity. The product is available through the Schwab Registered Investment Advisor channel.
Final take
Schwab Genesis Advisory is one of the most attractive VAs available for Schwab advisory clients. The exceptionally low 0.25% total annual expense, no surrender charges, broad subaccount choice, and optional income rider make this a thoughtful product for the fee-based advisory channel. The structure aligns with how Schwab advisors typically work.