Protective Life Insurance Company (Protective Life), Birmingham, Ala. (NYSE: PL), has designed a new indexed annuity. The Protective Indexed Annuity was formatted to maximize flexibility in order to access contract value in order to supplement income during unforeseen circumstances.
The annuity contains a range of withdrawal charge schedules and three interest crediting strategies that allow customers to grow contract value over time. The product also contains principle protection.
Created with the understanding that consumers are eager to invest in their future but opposed to high risk options and the volatility of the market, the product seeks to capitalize on the post-recession mindset of many Americans.
In conjunction with the fixed interest crediting strategy, the annuity offers two indexed interest crediting strategies—annual point to point and annual tiered rate.
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