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To more closely match consumers' top-of-mind retirement planning need for either income or savings,
- Allstate IncomeProtector is a "deferred income" fixed indexed annuity offering guarantees for retirement income – protecting what consumers have saved, while guaranteeing lifetime income in the future with the flexibility to start taking retirement income when the time is right.
Allstateguarantees to double the amount of a customer's first-year purchase payment including bonuses (also known as the income base) less any withdrawals after 10 years, as long as income payments have not begun. All guarantees are based on the claims-paying ability of Allstate Life Insurance Company. Furthermore, Allstateguarantees 7 percent annual growth on the income base for 10 years if income payments have not yet begun. The income base is separate from the contract value and is not available as a surrender value or death benefit.
- Allstate GrowthProtector is a "flexible premium" fixed indexed annuity offering guarantees for retirement savings – helping consumers' money grow, protecting what they have accumulated while simplifying their ability to save. Another feature of this product is that you can voluntarily increase your premium to accelerate your savings growth – in other words, a "flexible" premium.
Both Allstate Protector annuities have a purchase payment bonus. For as long as the annuity contract is in force, the bonus remains part of your contract value and your IncomeProtector income base. Therefore, it is used to determine your "guaranteed lifetime income benefit," or the income payments you eventually will receive. A bonus is fully vested after 10 years.
Withdrawals of gain or other taxable amounts are subject to current ordinary income taxes and if made prior to age 59 1/2 may be subject to a 10% federal penalty tax. If the contract is tax qualified, generally all withdrawals are treated as distributions of gain.
For more information on Allstate IncomeProtector and GrowthProtector annuities, contact the financial professional at your local
Allstate IncomeProtector Annuity is a limited flexible premium deferred indexed annuity contract issued by
Allstate GrowthProtector Annuity is a limited flexible premium fixed indexed annuity contract issued by