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About Protective Life
Protective Life Insurance Company, owned by Japan's Dai-ichi Life, is a leading provider of variable and fixed annuities in the United States. With over 115 years of history, Protective is known for innovative income products featuring aggressive rollups and flexible payout designs, as well as competitively priced multi-year guaranteed annuities and variable annuities. Their A-plus financial rating and broad product range make them a solid choice for accumulation and income strategies.
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How we scored them
Income Options88/100
Financial Strength92/100
Fees & Costs81/100
Flexibility83/100
Customer Service84/100
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The tradeoffs
What works
- A-plus financial strength rating backed by Dai-ichi Life
- Aggressive income rollups on income FIAs (10% simple on Income Builder)
- Competitive multi-year guaranteed annuity rates
- Broad variable annuity platform with low-cost advisory options
- Flexible payout and crediting options across product lines
What to watch
- Some products not available in California or New York
- Indexed crediting caps constrained on income products to fund guarantees
- Longer surrender periods (7-10 years) on many flagship products
- Rate banding creates meaningful spreads between low and high premium bands
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Income rider fees
Disclosed charges for optional riders on Protective Life products, live from Annuity Rate Watch. Product-level detail is on each review.
| Rider | Product | Fee |
|---|---|---|
| Income Creator GLWB | Protective Income Creator Fixed Annuity | 0.95% annually |
| Guaranteed Income Annuity Benefit (Level Income) | Protective Guaranteed Income Indexed Annuity | 1.20% annually |
| Guaranteed Income Annuity Benefit (Rising Income) | Protective Guaranteed Income Indexed Annuity | 1.20% annually |
| Income Builder Benefit | Protective Income Builder | 1.00% annually (2.00% max) |
| Income Builder Benefit - Level | Protective Income Builder | 1.00% annually |
| Income Builder Benefit - Rising | Protective Income Builder | 1.00% annually |
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Best fit for these buyers
Income-focused retirees seeking aggressive rollup growth and lifetime guarantees
Buyers who value flexible payout options and carrier strength from a globally-backed insurer
Schwab advisory clients seeking low-cost variable annuities with no surrender charges
Ages 50-75 planning retirement income with a multi-year time horizon
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Frequently asked questions
Is Protective Life a good annuity company?
Protective Life earns an average rating of 4.0/5 across the 8 products we've reviewed, and A.M. Best rates the carrier A+ for financial strength. We describe its financial position as "Excellent" with $180+ Billion in total assets.
What are the fees for Protective Life annuities?
Fee structures vary by product. Optional income riders on Protective Life products carry disclosed charges — for example Income Creator GLWB (Protective Income Creator Fixed Annuity): 0.95% annually ; Guaranteed Income Annuity Benefit (Level Income) (Protective Guaranteed Income Indexed Annuity): 1.20% annually ; Guaranteed Income Annuity Benefit (Rising Income) (Protective Guaranteed Income Indexed Annuity): 1.20% annually . See each product review for the full fee detail.
What is the surrender period for Protective Life annuities?
Surrender periods on Protective Life's current lineup run 5–10 years, depending on the product. Most products allow an annual free-withdrawal amount before charges apply — the product table above shows each product's surrender length, and each review covers the exact schedule.