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Fixed Indexed Annuity

Protective Asset Builder II

Protective Life Insurance Company

7.2%

Best Cap

10%

Free W/D

50

Jurisdictions

Product data status: May 29, 2026

Rates, state availability, rider terms, and contract language must be confirmed with a licensed financial advisor or insurance professional before purchase. Guarantees are backed by the issuing insurer.

Live product data

Rates as of May 29, 2026, based on the latest AdvisorWorld scan of CANNEX data.

S&P 500 cap rate (annual point-to-point)

7.2% cap on S&P 500

An accumulation-focused fixed indexed annuity from a multi-agency-rated A+-grade carrier on a single surrender chassis, with an S&P 500 annual point-to-point cap alongside multi-year point-to-point cap options and higher-participation strategies on proprietary indexes — no optional GLWB rider and no Protected Income Value chassis.

1-year termAdvisorWorld + CANNEX data

Best fit

Buyers committing to the contract's fixed surrender window (see surrenderYears on this page) who want index-linked accumulation with downside protection, value the option to choose among multiple crediting-term lengths on the S&P 500 cap strategy within that surrender chassis, and are comfortable building their own growth thesis across an S&P 500 cap and higher-participation proprietary-index strategies.

AM Best

A+ Superior

Surrender period

7 years

Free withdrawal

10%/yr

Availability

50 jurisdictions (excl. New York)

Featured crediting strategies

Index / strategyRate mechanics

S&P 500

S&P 500 Index

7.2% cap rate

Rate varies by premium band.

S&P 500

S&P 500 Index

100% participation rate + 5.15% declared rate

Rate varies by premium band.

S&P 500

S&P 500 Index

34% participation rate

Rate varies by premium band.

S&P 500

S&P 500 Index

8.45% cap rate

Rate varies by premium band.

S&P 500

S&P 500 Index

7% cap rate

Rate varies by premium band.

S&P 500

S&P 500 Index

8.35% cap rate

Rate varies by premium band.

Fixed Account

Fixed Account

3.45% declared rate

Rate varies by premium band.

+ 2 volatility-controlled index options (J.P. Morgan, Citi Flexible)

Product analyst notes

How to think about this contract

Why it can stand out

  • The contract sits on a single surrender chassis (see surrenderYears on this page), and within that chassis the buyer chooses among multiple crediting-term options on the S&P 500 cap strategy — a one-year reset, a multi-year point-to-point at a longer term, and a long-dated point-to-point — so the buyer can pick the term length of the crediting math without changing the surrender commitment.
  • Index menu blends a recognizable S&P 500 annual point-to-point cap, an S&P 500 performance-trigger declared rate, and high-participation strategies on proprietary indexes (J.P. Morgan Mojave, Citi Flexible Allocation 6), so a buyer can choose like-for-like comparability or a higher-participation alternative depending on their growth thesis.
  • Standard surrender waivers cover nursing-home confinement, terminal illness, and unemployment, alongside an annual free-withdrawal allowance, so the schedule of penalty-free liquidity for both planned partial withdrawals and unplanned life events is visible on this page rather than gated behind a sales brochure.
  • Carrier financial-strength is rated by multiple independent agencies (A.M. Best, Standard & Poor's, Moody's), so the strength view is not a single-source read.

What to confirm

  • This contract is NOT an income-rider product and is NOT a Protected Income Value chassis — there is no optional GLWB rider attached to the contract, no day-one premium bonus to seed an income base, and no built-in income mechanism. Buyers comparing to rider-led income products should recognize the structural difference: this contract is built for accumulation and partial liquidity, not for a contractually-guaranteed lifetime withdrawal rate.
  • Several of the higher-participation strategies are proprietary, volatility-controlled excess-return indexes — their participation rates look high in absolute terms but are not directly comparable to an S&P 500 cap. Evaluate each strategy on its own historical behavior and underlying mechanic, not on the headline number alone.
  • A market-value adjustment applies on early surrender beyond the free-withdrawal allowance, so the real cost of an unplanned exit during the surrender window depends on the interest-rate environment at the time and may exceed the published surrender-charge percentage.
  • The death benefit on this contract is Cash Surrender Value rather than account value or a guaranteed roll-up — a contract surrendered to a beneficiary during the surrender window receives the surrender value, not the full accumulation value, and there is no enhanced legacy mechanism beyond the standard contract terms.

Not ideal for

Buyers who need a contractually-guaranteed lifetime-withdrawal rate from an optional rider, a built-in Protected Income Value income mechanism, a premium bonus to seed an income base, an MVA-free early-exit window, or a death benefit that pays account value rather than cash surrender value — this contract is built for accumulation and is not optimized for any of those things.

All crediting strategies

View rate listings (18 rows)

These are the current crediting strategy listings returned for this product. Use the filters to narrow by index, term, premium band, or rate type.

Cap: 8.45% · 5-yr

S&P 500 Index

cap

5-yr surrender$100,000+

Par: 122% · 1-yr

J.P. Morgan Mojave Index

participation

7-yr surrender$100,000+

Par: 100% + Fixed: 5.15% · 1-yr

S&P 500 Index

trigger

7-yr surrender$100,000+

Par: 34% · 1-yr

S&P 500 Index

participation

7-yr surrender$100,000+

Cap: 7.2% · 1-yr

S&P 500 Index

cap

7-yr surrender$100,000+

Fixed: 3.45% · 1-yr

Fixed Account

fixed

7-yr surrender$100,000+

Par: 165% · 2-yr

Citi Flexible Allocation 6 Index

participation

7-yr surrender$100,000+

Cap: 7% · 7-yr

S&P 500 Index

cap

7-yr surrender$100,000+

Cap: 8.35% · 10-yr

S&P 500 Index

cap

10-yr surrender$100,000+

Par: 122% · 1-yr

J.P. Morgan Mojave Index

$100,000+

Par: 100% + Fixed: 5.15% · 1-yr

S&P 500 Index

$100,000+

Par: 34% · 1-yr

S&P 500 Index

$100,000+

Cap: 7.2% · 1-yr

S&P 500 Index

$100,000+

Fixed: 3.45% · 1-yr

Fixed Account

$100,000+

Cap: 8.35% · 10-yr

S&P 500 Index

$100,000+

Par: 165% · 2-yr

Citi Flexible Allocation 6 Index

$100,000+

Cap: 8.45% · 5-yr

S&P 500 Index

$100,000+

Cap: 7% · 7-yr

S&P 500 Index

$100,000+

Income riders

Accumulation-focused — no income rider

This contract is designed for tax-deferred accumulation, not guaranteed lifetime income. No GLWB rider was returned because none is part of the contract design — compare against other accumulation FIAs on cap, participation rate, and surrender terms rather than lifetime income.

Key Features

Free withdrawal

10%/yr

Annual amount that may be available without surrender charges, subject to contract terms.

Surrender waivers

3

Nursing home waiver, Terminal illness waiver, Unemployment waiver

Death benefit

Standard Death Benefit

Beneficiary value depends on contract terms, withdrawals, and rider elections.

Strategy guarantee

Minimum guaranteed cap: 1.50%

Strategy guarantee

Minimum guaranteed declared rate: 1.25%

Strategy guarantee

Guaranteed minimum interest rate (fixed): 1.00%

Annuitization options

Single life

Contract conversion options should be confirmed before purchase.

Fund types

Non-qualified, Qualified

Availability can vary by state and product terms.

Surrender schedule

Yr 1

9%

Yr 2

8%

Yr 3

7%

Yr 4

6%

Yr 5

5%

Yr 6

4%

Yr 7

3%

After

0%

Nursing home waiver, Terminal illness waiver, Unemployment waiver, Surrender waivers

Documents

brochure

PAC-1635233-12-25-Protective-Asset-Builder-II-At-a-Glance-01-08-26-Digital.pdf

Confidence: highReviewed Apr 8, 2026

Direct link not published — request the document from the carrier.

Carrier Ratings

AM BestA+
S&PAA-
Moody'sA1
S&PAA-

Contract notes from product data

Crediting design

How the interest-crediting choices are framed

Protective Asset Builder II currently shows 9 distinct indexed or fixed crediting choices across 18 current rate listings, including S&P 500 Index, with 2 volatility-controlled index options grouped separately. These choices matter because caps, participation rates, fixed accounts, spreads, and renewal terms are different mechanics and should not be ranked as one simple rate list.

  • S&P 500 Index: 7.2% cap
  • S&P 500 Index: 100% participation
  • S&P 500 Index: 34% participation

Liquidity terms

Why access rules deserve as much attention as rates

A fixed indexed annuity can preserve more control than an income-only contract, but access is still governed by the surrender schedule, free-withdrawal terms, and waiver language. Those details are where many product comparisons become more meaningful than a simple rate list.

  • 10%/yr free withdrawal
  • 7 surrender years
  • Nursing home waiver
  • Terminal illness waiver
  • Unemployment waiver

Verification note

Use carrier materials as term evidence, then confirm the current version

Carrier materials such as PAC-1635233-12-25-Protective-Asset-Builder-II-At-a-Glance-01-08-26-Digital.pdf help explain the contract language behind the data on this page; the latest document activity we see is Apr 24, 2026. For the current brochure, rate sheet, or specimen contract, confirm the state-specific version with the carrier or a licensed financial professional.

  • Rates and rider terms can vary by state and issue age
  • Carrier guarantees depend on claims-paying ability
  • Current contract forms should be confirmed before purchase

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