Protective Life Asset Builder

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Protective Life’s Asset Builder is a Fixed Indexed Annuity (FIA) with surrender charge options of 5, 6, 7, 8, 9, and 10 years. The annuity has a provision for market value adjustment provision. Despite being a single premium annuity, Asset Builder allows additional premiums as long as these are not made after the first year of the contract.

Asset Builder Annuity Facts

Minimum and Maximum Premiums

  • The minimum single premium for this annuity is $10,000 while the maximum single premium is $1,000,000.
  • Flexible premiums are accepted with the Protective Life Asset Builder Annuity.
  • There are also provisions allowing for premium additions beyond the maximum amount.

Issue age

The Asset Builder is issued to people aged between 0-85 years for the policy owners and annuitants. The age restriction for annuitization stands at 95 years.

Free Withdrawals

  • Up to 10% of the contract value may be withdrawn each year without any withdrawal charges.
  • Above the 10% free withdrawal amount, additional withdrawals will be charged for early withdrawals.


The contract must be annuitized latest on the day of the contract anniversary after the oldest owner’s 95th birthday. This is called the annuity commencement date. Holders have various payment options they can choose from; Lifetime income, Period certain, Life with installment refund, Life with cash refund and Life with a period certain.

Systematic Withdrawals

Systematic withdrawals are available with the Asset Builder FIA. These can only be done on a monthly, quarterly, semi-annual, or annual basis.

Nursing Home Confinement Waiver

This reduces the charges if the annuitant or their spouses are confined for at least 30 consecutive days after the contract’s first anniversary. This will also apply if the spouse has terminal illness.

Unemployment Waiver

Withdrawals can be made from the account without incurring charges or penalties if the annuitant or their spouse become unemployed and; were employed at the date of issue, are unemployed on the date of withdrawal and have been unemployed for at least 60 consecutive days before claiming the waiver.

Terminal Illness Waiver

This waives the withdrawal charges and MVA if the annuitant is diagnosed with a terminal illness that will result in death in 12 months. The diagnosis must however be carried out by an approved physician.

Death Benefit

The company subdivides this into three scenarios. If the annuitant dies before the contract’s maturity date, the death benefit will be the greater of the accumulation value and the GMV. If the beneficiary spouse survives the annuitant, they may elect to go on with the policy as the owner. If the annuitant dies after the maturity date, the payments continue to a surviving owner or the beneficiary under the existing annuity option.

State Specific

If interested in the ProSaver Secure II annuity from Protective Life, check with your annuity advisor or financial specialist to learn about availability in your state.

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