Withdrawal Guaranty May Appeal To The Indecisive

Protective Life Insurance Company has developed a living benefit option for consumers who are not sure whether they want to pay for a living benefit.

Protective Life, a unit of Protective Life Corp., Birmingham, Ala., says its new SecurePay guaranteed minimum withdrawal benefit includes a RightTime option.

The RightTime option gives a consumer the ability to choose whether to add the SecurePay withdrawal benefit today or to add it and start paying for it later, Protective Life says.

Protective Life will be making the SecurePay benefit available on all variable annuity contracts written on or after May 1 in states in which the benefit option has been approved, the company says.