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Create a guaranteed income stream for life With Protective Income Builder indexed annuity, your growth potential isn’t limited to the value of your contract. This solution also includes the Guaranteed Income Benefit, a protected lifetime income benefit that’s designed to create a guaranteed lifetime income stream. At the beginning of your contract, a protected balance known as the “benefit base” is automatically created as part of the Guaranteed Income Benefit. This amount is used to determine your protected lifetime income withdrawal payments. It is not the same as your contract value or death benefit. Understand your benefit base The benefit base is equal to your initial purchase payment. It increases by the amount of any additional purchase payments made before the benefit election date and is adjusted for withdrawals. It is important to understand that your benefit base will decrease if withdrawals are taken before Guaranteed Income Benefit withdrawals begin. Your benefit base will also decrease after protected lifetime income benefit withdrawals are taken, if they exceed the amount provided by the Guaranteed Income Benefit. These withdrawals reduce the benefit base in the same proportion that the withdrawal (and any associated withdrawal charge, and market value adjustment) reduces the contract value.
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