At Protective Life, we believe that doing the right thing is the foundation of everything we do. Therefore, we want to remind you that Lord Abbett is liquidating two of their funds and make sure you are aware of the transition rules for older variable universal life products.

The following Lord Abbett fund options will be liquidated effective August 1, 2019:

  • Lord Abbett Series Fund Inc. Classic Stock Portfolio
  • Lord Abbett Series Fund Inc. International Opportunities Portfolio

For Premiere Executive, Premiere I, Premiere II, Premiere III, Premiere Protector, Premiere Provider and Preserver:

  • Clients in either of these model portfolios can allocate their account value into a different available fund before August 1.
    • Any account value remaining will be automatically transferred to the Invesco Oppenheimer Government Money Fund.
    • Clients can allocate their account value that was transferred into the Invesco Oppenheimer Fund into another available fund after August 1.
  • On August 1, each of the impacted model portfolios will introduce new funds that replace the Lord Abbett funds.
    • Clients can either retain their new fund choice, remain in the Invesco Oppenheimer Government Money Fund, or allocate their account values to the revised model portfolio.

For Protective® Strategic Objectives VUL and Protective Investors ChoiceSM VUL:

  • Model portfolios on current products will remain as they are with no changes before or after August 1.
  • The makeup of the current model portfolios is available through current marketing pieces like the VUL Investment Options Guide.

Please work with your affected variable universal life insurance clients to reallocate their investments and ensure that their fund allocations align to their financial plans and goals.

For more information, please contact your Protective Life representative.

Let’s deliver on our promises. Together.

For Professional Use Only. Not for Use With Customers.

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