Protective Life Insurance Company carries an A+ (Superior) rating from AM Best and over $130 billion in total assets. A consistent top-10 MYGA seller, Protective is known for competitive guaranteed rates, a broad product lineup spanning fixed annuities, FIAs, and income annuities, and the institutional backing of Dai-ichi Life Insurance, one of Japan’s largest insurers.
This review covers Protective Life’s financial strength, MYGA and fixed annuity products with live rates, FIA lineup, and contact information.
Protective Life at a Glance
| Detail | Information |
|---|---|
| Full Legal Name | Protective Life Insurance Company (PLICO) |
| NY Issuing Entity | Protective Life & Annuity Insurance Company (PLAIC) |
| Parent Company | Protective Life Corporation (subsidiary of Dai-ichi Life Insurance) |
| Headquarters | Birmingham, Alabama |
| Founded | 1907 |
| AM Best Rating | A+ (Superior) |
| S&P Rating | A+ (Strong) |
| Moody’s Rating | A1 |
| Total Assets | $130+ billion |
| Death Benefit | Contract value paid to named beneficiary on all products |
| Products Offered | MYGAs, Fixed Index Annuities, SPIAs, Variable Annuities |
| States Available | All 50 states + D.C. |
| Minimum Premium | $10,000 (most products) |
Protective Life’s Financial Strength
Protective Life holds an A+ (Superior) from AM Best and matching strong ratings from S&P and Moody’s, the same top-tier bracket as MassMutual, Nationwide, and Pacific Life. The company has been in continuous operation since 1907, weathering every major economic cycle of the 20th and 21st centuries.
Its parent, Dai-ichi Life Insurance, is one of Japan’s largest life insurers and provides Protective with significant capital support and long-term institutional stability. For clients choosing between A+ carriers on rate, Protective’s MYGA products have historically been competitive enough to appear regularly in top-10 rate comparisons.
Protective Life Issuing Entities
Protective Life operates through two primary issuing entities. Protective Life Insurance Company (PLICO), based in Birmingham, Alabama, issues annuity contracts in most states. In New York, contracts are issued by Protective Life & Annuity Insurance Company (PLAIC). Both entities carry the same A+ AM Best rating and are backed by the same parent company. For variable annuity products, securities are offered by Investment Distributors Inc. (IDI), the principal underwriter for registered products within the Protective Life family.
Annuities are not a deposit at a bank or credit union and are not insured by any federal government agency. Annuity guarantees are backed solely by the financial strength and claims-paying ability of the issuing insurance company.
What Types of Annuities Does Protective Life Offer?
- Multi-Year Guaranteed Annuities (MYGAs), Protective’s ProSecure series and Achiever annuity products provide guaranteed rates across multiple terms. Consistently competitive rates for 3-7 year terms.
- Fixed Index Annuities (FIAs), Protective’s Market Achiever series offers index-linked growth with optional income riders and a zero-loss floor.
- Single Premium Immediate Annuities (SPIAs), Protective Income Annuity provides guaranteed lifetime income starting within one year.
All Protective Life annuity products include a standard death benefit that pays the full contract value to your named beneficiary. This ensures your heirs receive the accumulated value without going through probate.
Protective Life MYGA Products and Current Rates
Live rates from AnnuityRateWatch · Rates updated May 5, 2026
| Product | Term | Rate (APY) | Min Premium | Last Rate Change | |
|---|---|---|---|---|---|
|
Secure Saver 5
AM Best A+ |
5 Years | 5.15% | $75,000+ | May 5, 2026 | View Details → |
|
Secure Saver 5
AM Best A+ |
5 Years | 4.8% | $25,000+ | May 5, 2026 | View Details → |
|
Secure Saver 5
AM Best A+ |
5 Years | 3.95% | $10,000+ | May 5, 2026 | View Details → |
|
Secure Saver 7
AM Best A+ |
7 Years | 5.05% | $75,000+ | May 5, 2026 | View Details → |
|
Secure Saver 7
AM Best A+ |
7 Years | 4.7% | $25,000+ | May 5, 2026 | View Details → |
|
Secure Saver 7
AM Best A+ |
7 Years | 3.95% | $10,000+ | May 5, 2026 | View Details → |
Rates apply to standard products. State availability varies. Not an offer or solicitation. Always verify current rates before purchasing.
Protective Life MYGA Products
Protective ProSecure Series
Protective’s flagship MYGA product, available in multiple terms from 3 to 7 years. Provides a fully guaranteed interest rate for the entire term with tax-deferred growth. A 10% annual free withdrawal provision allows partial access to funds without surrender charges. Minimum premium $10,000.
Protective Achiever Annuity
A fixed annuity with a competitive guaranteed rate and flexible payout options. Designed for clients who want simple, principal-protected accumulation with the backing of an A+ carrier. Available through independent agents in all 50 states.
Protective Life Fixed Index Annuity Products
Protective Market Achiever
An FIA offering index-linked growth with a guaranteed zero floor. Multiple index crediting strategies include S&P 500 point-to-point and a fixed rate option. An optional income rider provides guaranteed lifetime withdrawal benefits. Designed for clients building retirement income over a 7-10 year horizon. The death benefit on this product pays the full contract value to your beneficiary.
Who Is Protective Life Best For?
- MYGA buyers who want top-tier financial strength (A+ AM Best) combined with competitive rates. Protective is one of the few A+ carriers that regularly appears at or near the top of rate tables.
- Conservative accumulation clients rolling over CDs, savings, or maturing fixed annuities who want the reassurance of an A+ rating and 117+ years of operating history.
- Income annuity buyers who want SPIA payouts from a large, highly rated carrier available in all 50 states.
- FIA buyers looking for an income rider with a straightforward design from a carrier with strong agent support infrastructure.
Frequently Asked Questions About Protective Life
Is Protective Life a safe company for annuities?
Protective Life holds an A-range AM Best rating (A+ (Superior)), which indicates a strong ability to meet ongoing policyholder obligations. In addition, annuity contracts are backed by your state guaranty association, which provides a secondary layer of protection typically covering $250,000 per contract. Always verify both the current rating and your state’s coverage limits.
Does Protective Life annuities include a death benefit?
Yes. All Protective Life annuity products include a standard death benefit that pays the contract value to your named beneficiary. This provides a clean transfer of assets to your heirs outside probate. Some FIA products may offer enhanced death benefit options through optional riders.
What types of annuities does Protective Life offer?
Protective Life offers MYGAs, fixed index annuities, variable annuities, immediate annuities through independent agents and financial professionals. Product availability, rates, and features vary by state. Use our rate comparison tool to see what’s currently available from Protective Life and competing carriers.
How do I buy an annuity from Protective Life?
Protective Life annuities are sold through licensed insurance agents and financial advisors. My Annuity Store is an independent platform that can quote Protective Life alongside 20+ other carriers so you can compare rates, terms, and financial strength ratings in one place. Request a free quote or call 855-583-1104 to get started.
Contact Protective Life
| Contact Method | Details |
|---|---|
| Website | www.protective.com |
| Customer Service | 1-800-866-3555 |
| Mailing Address | Protective Life Insurance Company P.O. Box 1928 Birmingham, AL 35201 |
| Hours | Monday-Friday, 7 a.m.-6 p.m. CT |
Compare Protective Life Against Top Carriers: My Annuity Store compares Protective Life alongside MassMutual, Athene, F&G, and 20+ other top-rated carriers. Get a free rate comparison or call 855-583-1104.
Further Reading: Fixed Index Annuities
Resources to help you evaluate Protective Life FIA products in context:
- Fixed Index Annuity Pros and Cons, A balanced look at FIA advantages and downsides across all carriers.
- Corebridge Power 10 Protector Review, How a comparable 10-year FIA from a competing carrier stacks up against Protective Life products.
Other Annuity Companies to Consider
Comparing carriers is an important part of finding the right annuity. Each company offers different rate guarantees, financial strength ratings, and product features. Here are a few other carriers worth reviewing:
- Ibexis Life & Annuity Insurance Company Review
- Prudential Annuity Review
- EquiTrust Life Insurance Company Annuity Review
- Transamerica Annuity Review
- Browse All Annuity Insurance Companies
Want help choosing? Use our live rate comparison tool to see which carriers offer the best rates today, or request a personalized quote.
