Protective Life Insurance Company is introducing a single-premium immediate annuity that could be particularly appealing to retirees with health problems.
Protective Life Insurance, a unit of Protective Life Corp., Birmingham, Ala., says its new Protective ProPayer Income Annuity contract offers 3 relatively unusual options.
One option, a commutable benefit option, will give an annuity owner the ability to surrender an annuity in exchange for a portion of the purchase payment, according to Protective Life Insurance.
