Protective Launches Protective Aspirations variable annuity product

According to a 2022 consumer survey,¹ the most important service consumers of all ages seek from a financial professional is “understand how much [they] can safely spend in retirement.” As clients prepare for retirement, they are planning for their retirement lifestyle goals and the legacy they would like to leave for loved ones.

“Whatever you aspire to achieve in retirement, it should be protected,” said Jim Wagner, chief distribution officer for Protective. “Whether you need protected lifetime income to cover the essentials during retirement or protection of market gains to help you get the most out of retirement, Protective Aspirations’ variable annuity income options can meet a variety of unique consumer needs.”

The Protective Aspirations variable annuity offers tax-deferred growth powered by quality investment options in a broad range of asset classes, along with multiple living and enhanced death benefit options so clients can protect what is most important to them.

Highlights of Protective Aspirations variable annuity includes its choice of two new optional protected lifetime benefits designed with clients’ unique needs in mind. These two optional benefits were developed to help customers either maximize their retirement income or investment growth potential. Both living benefits also include a feature that allows the customer to defer a portion of their annual withdrawal amount for use at a later time.

With an ultimate goal of protecting more customers, this solution allows Protective to build its variability annuity product suite and help more customers retire with more confidence.

Licensed financial professionals can learn more about Protective Aspirations variable annuity by visiting finpro.protective.com/retirement/variable-annuities/protective-aspirations.

About Protective

Protective has helped people achieve protection and security in their lives for 115 years. Through its subsidiaries, Protective offers life insurance, annuity and asset protection solutions and is helping more than 12 million people protect what matters most. Variable products are distributed by affiliate Investment Distributor, Inc., a registered broker-dealer and principal underwriter for registered products issued by Protective Life Insurance Company. Protective’s more than 3,700 employees put people first and deliver on the company’s promises to customers, partners, colleagues and communities - because we’re all protectors. With a long-term focus, financial stability and commitment to doing the right thing, Protective Life Corporation, a wholly owned subsidiary of Dai‑ichi Life Holdings, Inc. (TSE:8750), has grown to about $132 billion in assets, as of Dec. 31, 2021. Protective is headquartered in Birmingham, Alabama, and supported by both a robust virtual workforce and core sites in Cincinnati and St. Louis. For more information about Protective, visit www.protective.com.

Footnote:

¹Browning, Guo, Cheng and Finke (2016). Spending in Retirement: Determining the Consumption Gap, Journal of Financial Planning