Life subsidiaries of a Southern company are offering an equity-indexed crediting option that comes with a minimum return guarantee.
Protective Life Corp., Birmingham, Ala., says its Protective Life Insurance Company unit will be building the new Fixed Rate Plus account into its Protective ProSaver Index Choice II annuity and its ProSaver Index Plus annuity.
Protective Life Insurance sells the Index Choice II annuity mainly through independent agents and broker-dealers. It sells the Index Plus II annuity through financial institutions, according to Protective Life.
Another Protective Life unit, West Coast Life Insurance Company, will include the new account in the Index Advantage II indexed annuity, which is sold mainly through brokerage general agencies.