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Puritan Protector Plus

Single Premium Deferred Fixed Annuity

The Choice is Yours

You may select from two different surrender charge periods. This enables you to purchase a product that best suits your financial situation, timeline, and growth expectations. There are two surrender charge periods to choose from:

Thereafter, you may withdraw your funds with no surrender charge or you can leave your funds in your annuity where they will continue to grow with the benefit of tax deferred interest.

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.*

Strong Interest Rate Guarantees

Each policy year, Puritan will declare a new interest rate but in no event will the interest rate fall below the guaranteed minimum interest rate on the contract. On the 6-year contract, your minimum guaranteed rate is 2.0% and on the 10-year contract your minimum guaranteed rate is 1.5%.

Premium Bonus

The 10-Year Protector Plus Annuity also offers a premium bonus. There are two different premium bonus options:

A premium bonus provides your annuity with an immediate head-start. For example, if your initial premium is $10,000, a 5% bonus of $500 will be immediately added to your account value. This additional $500 will also grow on a tax-deferred basis. Your choice of premium bonus will affect your credited 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
6-YR 7% 7% 7% 6% 5% 3% 0% 0% 0% 0% 0%
10-YR 10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0%

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.