The Choice is Yours
You may select from two different surrender
charge periods. This enables you to purchase a
product that best suits your financial situation,
timeline, and growth expectations. There are two
surrender charge periods to choose from:
Thereafter, you may withdraw your funds with no
surrender charge or you can leave your funds in
your annuity where they will continue to grow
with the benefit of tax deferred interest.
Tax Deferral and Its Benefits
Tax deferral is one of an annuity’s greatest
benefits. Whether you purchase your annuity
with after-tax (non-qualified) or pre-tax (qualified)
dollars, you will receive the benefit of
compounding interest without having to pay
federal or state taxes until you withdraw your
money. This tax deferral is even more beneficial if
you are in a lower tax bracket when you make a
withdrawal – as many expect to be when they
Strong Interest Rate Guarantees
Each policy year, Puritan will declare a new interest
rate but in no event will the interest rate fall below
the guaranteed minimum interest rate on the
contract. On the 6-year contract, your minimum
guaranteed rate is 2.0% and on the 10-year contract
your minimum guaranteed rate is 1.5%.
The 10-Year Protector Plus Annuity also offers a
premium bonus. There are two different premium
A premium bonus provides your annuity with an
immediate head-start. For example, if your initial
premium is $10,000, a 5% bonus of $500 will be
immediately added to your account value. This
additional $500 will also grow on a tax-deferred
basis. Your choice of premium bonus will affect your
credited interest rate.
While you always have access to your money, a
surrender charge is applicable if you choose to
make a withdrawal greater than the penalty-free
amount prior to the end of your current interest rate
Neither Puritan Life Insurance Company of America, its affiliates, nor any of its representatives may provide tax or legal
advice. Individuals should consult their tax advisor or legal counsel for specific advice and information regarding their
individual situation. Withdrawals may be subject to taxation and if taken prior to age 59½, may be subject to a 10% IRS
penalty tax. For explanatory purposes of this brochure, owner/policyholder are all assumed to be the same individual.
This guide is not a contract and descriptions of the policy provisions are only partial. Exclusions and limitations may vary by
state. Refer to the policy form for complete details.
*Rollovers of funds from other qualified plans into a Puritan annuity are non-taxable events. The benefits of tax-deferred growth continue to be available to you.
**Chart is a hypothetical annuity illustration of tax-deferral and assumes an initial premium of $100,000 earning a 5.0% compounded annual rate of return for 20
years. Not intended to predict or project performance. Tax deferred value less taxes represents the increase in value due to tax deferral, less taxes at an assumed
rate of 28%, with no surrender charge or market value adjustment applied. Precise measurement of tax benefit will depend upon each owner’s individual
circumstance. This may not reflect rates or terms currently offered by the company.