“Clients can take more income up front while they wait to maximize Social Security. And unlike some products where you cannot predict when income will drop, we designed this with a clear structure. That makes planning easier for advisors”

Martha Hart, Protective

“We built Protective Aspirations variable annuity around resilience and adaptability. It’s designed to help clients feel prepared and enter retirement with more confidence, knowing their annuity can pivot with them as life changes”

Martha Hart, Protective

“Retirement isn’t static. It is full of changing needs and opportunities. That’s why Protective Aspirations variable annuity isn’t just about delivering guaranteed income”

Sam Watts, Protective

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Today’s annuities mustdo more than pay income

The next generation of annuities blends certainty with adaptability, reflecting how retirement and client expectations for guaranteed income are fundamentally changing

Read on

Martha L. Hart

Protective Life

Sam B. Watts

Protective Life

Industry experts

FOR MUCH of the last century, retirement income planning was relatively straight-forward. Most people could count on a defined benefit pension to provide a predictable stream of income for life, often supplemented by government benefits. The structure left little need to think about how to convert savings into income. That picture has changed. Traditional pensions are now far less common, and retirees increasingly shoulder the responsibility of generating income from their own savings and investments. Instead of relying on an employer-sponsored pension, they must plan for future income by deciding how their accumulated assets will support them over decades of retirement. In that context, products like annuities have become a more prominent part of the conversation, offering ways to provide lifetime income and reduce the risk of outliving one’s assets. Flexibility has always mattered in retirement planning, and annuities have gradually incorporated more of it. But gaps remain. Many solutions still rely on assumptions that a retiree’s income needs will remain steady, even though real life seldom works that way. As a result, retirees and their advisors often have to plan around the limits of a product instead of using income tools that can adjust more naturally to shifting priorities, unexpected events, and new opportunities.

Protective aims to change that equation. Protective® Aspirations variable annuity was built from the ground up to reflect the unpredictability of real life. Since its introduction, Protective Aspirations variable annuity has helped drive a 53 percent increase in Protective’s variable annuity sales,1 vaulting the company into the top tier of the fastest-growing providers in the space. But more significant than the sales growth is the shift in thinking it represents: a move away from a rigid, one-size-fits-all design toward a new model centered on adaptability and client choice. “We built Protective Aspirations variable annuity around resilience and adaptability,” says Martha Hart, vice president and national sales manager for Protective’s retirement division. “It’s designed to help clients feel prepared and enter retirement with more confidence, knowing their annuity can pivot with them as life changes.”

Income planning has always been central to annuities, but the conversation is shifting from simply guaranteeing payments to structuring them more strategically. Many retirees, for instance, spend more in the early years of retirement on travel, home projects, or new pursuits. Others want to delay claiming Social Security to maximize their benefits, but they need reliable income in the meantime. Protective Aspirations variable annuity addresses both situations with advanced payout options that allow clients to front-load income for a defined period. They can choose payout periods of three, five, eight, or ten years, receiving higher withdrawal rates during that time before transitioning to a lower guaranteed lifetime withdrawal amount.

“Clients can take more income up front while they wait to maximize Social Security,” Hart says. “And unlike some products where you cannot predict when income will drop, we designed this with a clear structure. That makes planning easier for advisors and helps build confidence for clients.” For example, a client retiring at 62 who wants to delay Social Security until age 70 could select an eight-year payout option that provides increased withdrawals until that point. Once Social Security begins, the annuity income would adjust to a lower amount but remain guaranteed. Combined, those two income streams could result in significantly more lifetime income than if Social Security had started earlier. This emphasis on structure and clarity is deliberate. “Our market research showed that removing uncertainty around when a higher withdrawal rate would end made it much easier for advisors to integrate annuities into broader retirement plans,” Hart says. “It turns the income stream into a tool they can plan around rather than just a feature of the product.”

Traditional annuities tend to follow a fixed course. They deliver income on a set schedule, often with limited options for altering payout amounts or timing once the contract is in place. Protective designed Protective Aspirations variable annuity with a different assumption: that retirement is rarely linear and that clients’ priorities will shift over time. “Retirement isn’t static,” says Sam Watts, product strategy director at Protective. “It is full of changing needs and opportunities. That’s why Protective Aspirations variable annuity isn’t just about delivering guaranteed income. It is about giving people flexibility to make adjustments as their lives evolve.” Protective Aspirations variable annuity incorporates that adaptability in several ways. Clients can choose how and when they receive income, reserve portions of income for later in retirement, and align investment strategies with changing risk tolerances or goals. The product also anticipates specific challenges retirees face, such as planning for the future or healthcare related needs or the desire to leave a legacy, without forcing them to sacrifice the certainty of guaranteed lifetime income.

Annuities are increasingly being used to solve for more than just income, and Protective Aspirations variable annuity is designed with that broader role in mind. Legacy planning, for example, remains a high priority for many retirees, yet it is often complicated by market volatility. The enhanced Maximum Daily Value death benefit addresses this by locking in the highest contract value every single day, rather than annually or quarterly as many products do. That daily reset feature helps clients capture more growth opportunities for their beneficiaries, even in unpredictable markets.

“It is an excellent feature for clients focused on maximizing what they leave behind,” says Watts. “And currently, we are the only carrier offering this type of benefit on a variable annuity.” Protective Aspirations variable annuity also offers more than 100 investment options from established fund partners. Advisors can build tailored portfolios or choose from preset models for a more streamlined approach, depending on their clients’ preferences and engagement levels. The goal is not just to offer choice but to make those choices meaningful, Hart says, adding, “It is about empowering advisors to align investment strategies with evolving goals and risk profiles.” Longevity risk is rising, healthcare costs are growing, and volatility remains a defining feature of the markets. At the same time, retirees themselves are more diverse in their goals and lifestyles. These shifts are changing how advisors and clients view annuities. No longer just products that deliver predictable income, annuities are becoming platforms that can be integrated into broader financial plans and adapted to changing needs. Protective’s Aspirations variable annuity is part of that transition. It retains the strength that has always defined annuities − lifetime income − while layering on the flexibility, optionality, and responsiveness that modern retirement planning demands.

A key feature is the optional SecurePay ProtectorSM income rider. It provides guaranteed lifetime income with withdrawal rates of up to 6 percent at age 65, even if the contract value reduces to zero.2 A 7 percent compounding roll-up rate builds the benefit base during accumulation, creating what Watts describes as a “snowball effect” that enhances future payouts. Annual step-ups lock in market gains when they exceed the guaranteed growth rate, blending predictability with growth potential. The SecurePay Protector benefit also includes SecurePay NHSM, which can double annual withdrawal amounts, up to 15 percent, for up to five years if a client requires nursing home care and meets eligibility criteria. This feature can provide critical support during one of retirement’s most disruptive and costly events.“Healthcare events can upend even the most carefully crafted plans,” Hart notes. “SecurePay NH adds an important layer of protection when clients need it most, helping them preserve their broader strategy.”

Protective Life Corporation has helped people achieve protection and security in their lives for 118 years. Through its subsidiaries, Protective offers life insurance, annuity, asset protection and employee benefit solutions and is helping nearly 17 million people protect what matters most. Protective’s more than 3,500 employees put people first and deliver on the company’s promises to customers, partners, colleagues and communities - because we’re all protectors. With a long-term focus, financial stability and commitment to doing the right thing, Protective Life Corporation, a subsidiary of Dai-ichi Life Holdings, Inc., has $125 billion in assets, as of Dec. 31, 2024.

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Martha Hart is VP, national sales manager for Protective’s retirement division. With over 30 years in financial services, she leads a team of wholesalers to deliver dependable retirement solutions. Starting as a wholesaler in 1993, she advanced to divisional sales manager and was named Protective’s Sales Manager of the Year in 2020. Hart is known for her hands-on approach and commitment to helping advisors grow their business. She lives in Southern New Hampshire with her husband, four children, and two dogs.

VP, National Sales Manager, Protective Life

Martha L. Hart

Sam Watts is the product strategy director for retail retirement products at Protective, where he focuses on the development and management of the company’s variable, fixed, and indexed annuity offerings. He’s been with Protective for 11 years and is based in the company’s Birmingham, Alabama, office. Watts is a Certified Financial Planner® professional and works closely with teams across the organization to support product evolution and meet the needs of a changing retirement landscape.

Product Strategy Director, Retirement, Protective Life

Sam B. Watts, CFP®, CLU®, ChFC®

In Partnership with

Fighting for the customer

The customer owned a bank saw a huge boost after the Hayne Royal Commission. One year on and their market share is growing as customer continue to see their value.

Read on

Darren McLeod

Beyond Bank

Fernando Lemos

Bank Australia

Industry experts

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Bank Australia

Fernando Lemos

Beyond Bank

Darren McLeod

In Partnership with

Fighting for the customer

The customer owned a bank saw a huge boost after the Hayne Royal Commission. One year on and their market share is growing as customer continue to see their value.

Read on

Darren McLeod

Beyond Bank

Fernando Lemos

Bank Australia

Industry experts

Beyond Bank

Darren McLeod

Bank Australia

Fernando Lemos

Building a product that moves with life

Published November 10, 2025

WOMEN ADVISORS

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Turning income into a more strategic tool

Planning beyond income: health, legacy, and potential growth

Protective refers to Protective Life Insurance Company (PLICO) and its affiliates, including Protective Life and Annuity Insurance Company (PLAIC). PLICO, founded in 1907, is located in Omaha, NE, and is licensed in all states excluding New York. PLAIC is located in Birmingham, AL, and is licensed in New York. Securities offered by Investment Distributors, Inc. (IDI), a registered broker-dealer and principal underwriter for registered products issued by PLICO, its affiliate. IDI is located in Birmingham, AL. Product guarantees are backed by the financial strength and claims-paying ability of the issuing company.  Protective Aspirations variable annuity is a flexible premium deferred variable and fixed annuity contract issued by PLICO in all states except New York under policy form series VDA-P-2006. SecurePay Investor benefits issued under rider form number VDA-P-6063. SecurePay Protector benefits issued under rider form number VDA-P-6061. SecurePay Nursing Home benefits issued under form number VDA-P-5072R, in all states except in California where issued under form number IPV-2159. Protective Aspirations NY variable annuity is a flexible premium deferred variable annuity contract issued by PLAIC in New York under policy form series NY-VDA-A-2024. SecurePay Investor benefits issued under rider form number NY-VDA-A-6075. SecurePay Protector benefits provided by rider form number NY-VDA-A-6073.  Variable annuities are long-term investments intended for retirement planning and involve market risk and the possible loss of principal. Investments in variable annuities are subject to fees and charges from the insurance company and the investment managers.  Withdrawals reduce the annuity's remaining death benefit, contract value, cash surrender value and future earnings. Withdrawals may be subject to income tax and, if taken prior to age 59½, an additional 10% IRS tax penalty may apply. More frequent withdrawals may reduce earnings more than annual withdrawals. During the withdrawal charge period, withdrawals in excess of the penalty-free amount may be subject to a withdrawal charge.  Investors should carefully consider the investment objectives, risks, charges and expenses of a variable annuity, any optional protected lifetime income benefit, and the underlying investment options before investing. This and other information is contained in the prospectus for a variable annuity and its underlying investment options. Investors should read the prospectus carefully before investing. Prospectus may be obtained by contacting Protective at 800-456-6330. CABD.6925871.09.25

“It is an excellent feature for clients focused on maximizing what they leave behind. And currently, we are the only carrier offering this type of benefit on a variable annuity”

Sam Watts, Protective

1 2024 LIMRA VA sales data 2 If your contract value is reduced to zero due to benefit withdrawals, your contract will be annuitized and you will begin receiving monthly income payments in an amount equal to your last Annual Withdrawal Amount, divided by 12. If your contract value falls to zero due to excess withdrawals the rider will terminate, and payments will end.

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