At Protective Life, delivering what’s promised is a decision — one we make every day — and doing the right thing is the foundation of everything we do.
This is why we wish to inform you that due to the continued low interest rate environment and volatility in the market, we will be reducing our cap rate and illustrated rate on Protective Indexed Choice UL. These product revisions will be effective on and after January 1, 2020, and will enable us to continue offering this solid, well-designed life insurance solution that meets our customers’ expectations and helps us deliver on our promises — together.
These rate changes will be available with Protective Indexed Choice UL illustrations beginning November 4, 2019, and are effective January 1, 2020.
- Maximum illustrated rate will change from 5.63% to 5.37%
- Indexed cap rate will change from 9.00% to 8.50%
- The new cap rate will go into effect on January 15, 2020, as indexed segments are created on the 15th of each month
- For new and existing indexed segments that began in 2019, this new cap rate will go into effect once the segment has its annual reset (after its 12‑month term)
- Loan rate will change from 4.63% to 4.37%