Protective Variable Annuity Separate Account has filed an important update regarding its SecurePay Protector riders, which are part of its variable annuity contracts. This amendment, filed on October 30, 2026, outlines significant changes to the terms and conditions associated with the roll-up feature of these contracts. The update is set to take effect on November 2, 2026, and aims to provide clearer guidelines for policyholders, potentially influencing how similar products are structured across the industry.

Background

Protective Variable Annuity Separate Account is an investment entity incorporated in Tennessee. It operates under the auspices of Protective Life Insurance Company and primarily offers variable annuity products. The company’s address is 2801 Highway 280 South, Birmingham, Alabama, 35223. Recent filings include a series of updates and amendments to its variable annuity contracts, with the most recent being the 485BPOS form filed on October 30, 2026, under the Securities Act of 1933 and the Investment Company Act of 1940.

What the Filing Says

The SEC filing details the amendment to the SecurePay Protector riders, specifically the roll-up feature. The filing states, "The SecurePay Protector 'Roll-up' subsection...is deleted and replaced with the following:..." This indicates a comprehensive revision of the terms that will affect how benefits are calculated for policyholders.

Impact

This update may significantly affect current policyholders of the Protective Aspirations Variable Annuity and potential investors looking into variable annuity products. The changes to the roll-up feature could alter the benefits and expectations for those relying on these riders for retirement income or investment growth. The clarity provided by this amendment may also influence how other companies in the investment industry approach similar products.

What's Next

The filing indicates that the new terms will become effective on November 2, 2026. It does not specify any further actions required from policyholders or investors following this amendment.