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Protector - Multi-Year Guaranteed Annuity

Guaranteed Interest Rates

Much like a typical certificate of deposit (CD), the Protector Guarantee Annuity guarantees you a safe and secure investment that is not subject to the ups and downs of the stock market or volatility in interest rates. Even with its ability to control downside risk, the Puritan annuity credits interest greater than typical CDs. You may choose from the following interest rate guarantee periods:


Tax Deferral and Its Benefits

Tax deferral is one of an annuity’s greatest benefits. Whether you purchase your annuity with after-tax (non-qualified) or pre-tax (qualified) dollars, you will receive the benefit of compounding interest without having to pay federal or state taxes until you withdraw your money. This tax deferral is even more beneficial if you are in a lower tax bracket when you make a withdrawal – as many expect to be when they retire.*


Renewal Options

Prior to the end of your interest rate guarantee period (IGP) you will have a 30-day window during which you can choose to select an IGP from those available, elect a payout option, or withdraw your funds, with no surrender charge or market value adjustment. For the 3-year and 5-year IGP options, if no election is made after the end of the first IGP, Puritan will automatically renew your annuity for a new 3-year or 5-year IGP, which will include new surrender charges and a market value adjustment. At the end your second 3-year or 5-year term or after the first 7-year term, your contract will become a 1-year interest rate guaranteed product with no surrender charges or market value adjustment. This allows you to continue to build tax-deferred interest indefinitely without withdrawal penalties. Renewal rates for subsequent guarantee periods may differ from the initial guaranteed interest rate.***


Surrender Charges

While you always have access to your money, a surrender charge is applicable if you choose to make a withdrawal greater than the penalty-free amount prior to the end of your current interest rate guarantee period.

Surrender Charges
Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9 Y10 Y11
3-YR 9% 8% 7% 6% 5% 4% 0% 0% 0% 0% 0%
5-Yr 9% 8% 7% 6% 5% 5% 4% 3% 2% 1% 0%
7-YR 9% 8% 7% 6% 5% 4% 2% 0% 0% 0% 0%
Renewal Period Surrender Charges In Blue

Neither Puritan Life Insurance Company of America, its affiliates, nor any of its representatives may provide tax or legal advice. Individuals should consult their tax advisor or legal counsel for specific advice and information regarding their individual situation. Withdrawals may be subject to taxation and if taken prior to age 59½, may be subject to a 10% IRS penalty tax. For explanatory purposes of this brochure, owner/policyholder are all assumed to be the same individual.
This guide is not a contract and descriptions of the policy provisions are only partial. Exclusions and limitations may vary by state. Refer to the policy form for complete details.
*Rollovers of funds from other qualified plans into a Puritan annuity are non-taxable events. The benefits of tax-deferred growth continue to be available to you.
**Chart is a hypothetical annuity illustration of tax-deferral and assumes an initial premium of $100,000 earning a 5.0% compounded annual rate of return for 20 years. Not intended to predict or project performance. Tax deferred value less taxes represents the increase in value due to tax deferral, less taxes at an assumed rate of 28%, with no surrender charge or market value adjustment applied. Precise measurement of tax benefit will depend upon each owner’s individual circumstance. This may not reflect rates or terms currently offered by the company.
*** The minimum guaranteed interest rate on all Protector Guarantee Annuities is 1.5%.