• Registered Index-Linked Annuities

    A Protective® Market Defender Annuity is a registered index-linked annuity designed to help protect investments from a major loss while participating in market-linked growth based on the performance of a selected market index.

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  • What is a Registered Index-Linked Annuity?

    Protective Market Defender is a registered index-linked annuity that allows for more generous participation in market gains than with traditional FIA's but allows for limited loss. This type of product references the performance of a particular market index to calculate gains or losses, but the investor is not directly placing money into that index.

  • Protection and growth for retirement

    Protective Market Defender can help defend your investments from major market downturns while allowing investors to participate in market-linked growth, and they can be tailored to the investor’s risk tolerance and investment preferences.

  • Benefits of a registered index-linked annuity

    Protection from major market downturns

    Protection from major market downturns

    Market losses triggered by an industry collapse or tragic event can happen at any time. Limit losses caused by major market downturns.

    Participation in market-linked growth

    Participation in market-linked growth

    Money is not invested directly in an index or stock market, but gains or losses are based on the performance of the index the investor chooses.

    No Annual Fees

    No Annual Fees

    There are no annual fees charged for Protective Market Defender, helping you keep more of what you earn.

    Access to Money

    Access to Money

    Withdraw a portion of contract value each year without incurring a withdrawal charge or market value adjustment

    Guarantee Income

    Guaranteed Income

    Options are available to annuitize the contract and allow for guaranteed income payments for the length of time you choose.

    Guarantee Income

    Protection for Loved Ones

    Protective Market Defender includes a death benefit at no additional cost. 

    1. An interim value calculation will apply. The interim value calculation may reduce the remaining contract value by more that the dollar amount of the withdrawal taken.

    2. Withdrawals in excess of the penalty-free amount may be subject to a surrender charge during the withdrawal charge period.

    3. Gains will be taxed as ordinary income upon withdrawal.

  • Why Protection from Market Downturns Matters

    For investors nearing retirement, it can be a priority to protect investments from a major loss. After all, when you’re nearing retirement, you may not have time for your investments to recover. You may also be surprised at how much it takes to recover and gain back the earnings you would have made without the downturn. The chart below shows the gains generally needed to bring your investments back to break-even.

  • Percentage Losses vs. The Gains Needed to Recover

    It’s important to have a plan to limit losses. The chart below shows the gains generally needed to recover from various levels of loss and bring investments back on plan.

    Loss Market Icon

    Loss Incured

    Growth Market Icon

    Gains need to recover











    This chart is for illustrative purposes only and does not represent the performance of any security.

  • What makes registered index-linked annuities from Protective Life different?

    Protective Market Defender offers ways to position your investment for growth while addressing the potential for loss during down markets - without charging annual fees.

  • Explore retirement annuities with Protective Life

    Protective Life offers a wide variety of annuities to meet your needs. To learn more, call 1-800-833-8991.

    phone Call Us: 1-800-833-8991
  • How to Get Started with Registered Index-Linked Annuities

    Protective Market Defender can help you protect your money and diversify an investment by creating segments that allow for various levels of growth and protection. For each segment you’ll select the:

    1. Allocation amount or how much of your overall investment will be applied to particular segments.

    2. Allocation strategy, whereby you determine which segments will leverage a guaranteed interest strategy to earn a fixed rate of interest or utilize an indexed strategy  that earns interest or deducts losses based, in part, on the performance of the segment’s index over its term (see Guaranteed versus Indexed Strategy).

    3. Protection level or the maximum loss an indexed segment can experience due to negative index performance during a term (-5%, -10%, or -20%). The protection level is available for Indexed Strategies only.

    With Protective Market Defender you can choose up to 100 different segments with different start dates and strategies. First you allocate funds by segment and define the strategy for each. A segment will mature after a term of one year, at which point you can choose to renew the current allocation, create a new one, or allow the matured segment value to transfer to an interest-bearing Declared Rate Account to await allocation instructions. 

    Registered Index-Linked Annuities steps

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  • See how it works

    Here’s an example of how an initial purchase payment could be allocated.

Registered Index-Linked Annuity initial purchase payment example

    Guaranteed Interest versus Indexed Strategy

    You can choose a strategy based on your needs and level of risk tolerance.

    • Guaranteed Interest: Segments using a guaranteed interest strategy earn a fixed rate of interest that is credited daily, beginning on the segment’s start date. The interest rate is determined in advance and is guaranteed for the segment term.

    • Indexed: Segments using an indexed strategy earn interest or deduct losses based, in part, on the performance of the segment’s index over its term. For segment values held to maturity, credits or deductions are applied at the end of the segment term. Indexed strategies include participation rates, caps and floors. (see "Common Questions" below).

  • See if Protective Market Defender could be the right option for you

    Levels of protection to limit the impact of major market downturns

    Protective Market Defender offers a variety of protection and growth options to help investors create a strategy that fits their retirement needs.

    Opportunities to participate in market-linked growth

    With the help of a financial professional, investors can create a sound plan to help limit the impact of major market downturns and capture upside returns.

  • Explore retirement annuities with Protective Life

    Protective Life offers a wide variety of annuities to meet your needs. To learn more about available annuity options, call 1-800-833-8991. 

    phone Call Us: 1-800-833-8991
  • Common questions about Protective Market Defender

    • What is the segment start date?

      The segment start date is the date the segment is established. Segments are generally established on the first and third Wednesday of each month.

    • What is the maturity date?

      The maturity date is the date a segment is scheduled to end.

    • What is the term?

      The term is defined in the contract as the period of time from a segment’s start date through its maturity date, currently one year. A term will not necessarily correspond with calendar dates.

    • What is the participation rate?

      The participation rate is multiplied by index performance and is used to determine how much interest is credited to a segment value.

    • What is a cap?

      A cap is the maximum percentage of positive index performance that can be applied to a segment at the end of its term. The cap is declared in advance, prior to the segment’s start date.

    • What is a floor?

      A floor is the maximum percentage loss a segment can experience due to negative index performance, even if negative index performance exceeds that percentage. This protection level limits the impact of market downturns on indexed strategies because investors can select a floor (-5%, -10%, or -20%) that establishes the maximum percentage loss a segment can experience, even if negative index performance exceeds the selected floor. This is the level of protection for the segment.

    • Is there a limit to the number of segments allowed?

      With Protective Market Defender, you can have up to 100 existing segments in your contract.

    • What is the declared rate account?

      The declared rate account is an interest bearing account that receives and holds purchase payments. It also receives and holds matured segment values that haven’t been reallocated. Amounts applied to this account will remain there until allocation instructions are executed.