Protective Launches Protective® Aspirations Variable Annuity Product
Protective Life Corporation, a wholly-owned U.S. subsidiary of Dai‑ichi Life Holdings, Inc. today announced the launch of its Protective® Aspirations Variable Annuity product, issued by its principal subsidiary Protective Life Insurance Company.
According to a 2022 consumer survey, 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.