If you’re in the market for life insurance, Protective Life is a top pick for many educated buyers because of its strong reputation for providing quality coverage.
The Protective Life Insurance Company offers a wide range of insurance policies, innovative riders, and excellent customer service.
Shopping for life insurance can be overwhelming, but this extensive Protective Life Insurance Review will help you decide whether this insurer is right.
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Protective Life Insurance Company
For over 100 years, the Protective family of companies has always offered unique life insurance products to meet the protection needs of families and businesses.
They offer many policies to suit your needs, including term, universal, and whole life insurance policies.
The corporate headquarters for Protective Life is in Birmingham, AL, with additional offices in California, Illinois, Missouri, Nebraska, New York, Ohio, South Carolina, and Tennessee.
Protective Life Insurance Company offers people in all 50 states competitive life insurance solutions.
In recent news, Protective Life became a wholly-owned subsidiary of Dai-ichi Life.
Protective Life insurance subsidiaries
- Protective Life and Annuity Insurance Company – Protective Life and Annuity Insurance Company issues life insurance and annuity contracts to people living in New York.
- West Coast Life Insurance Company – West Coast Life Insurance Company is also a subsidiary of Protective Life Insurance Company and a nationwide provider of insurance solutions and annuities contracts.
- MONY Life Insurance Company – MONY Life Insurance Company is a subsidiary of Protective Life Insurance Company and a nationwide provider of insurance products.
- Lyndon Insurance Group, Inc. and Affiliates – Lyndon Insurance Group produces and sells specialty insurance products such as credit life insurance, credit disability insurance, and vehicle and marine service contracts.
If you have questions about your current policy, visit the Protective Life Portal.
If you visit the portal, you must register and establish a Protective Life insurance login password. Here is where you can find information about your Protective Life Policy.
This is often a cumbersome process because you can only get basic information about your policy.
You can also call Protective customer service at 1-800-866-9933 during regular business hours.
If you want customized proposals or need anything special, we will happily assist you with any questions about your current Protective Life insurance policy!
Protective Life Insurance Ratings
Are you looking for a life insurance company with a good reputation and financial strength ratings?
Nothing is more important than its financial strength and ability to pay claims to policyholders for an insurance company.
We evaluate life insurance companies’ financial strength and claims-paying ability using several independent rating agencies.
Protective Life Insurance Company is one of the most highly rated life insurance companies in the United States.
The independent rating agency A.M. Best has conducted its annual Protective Life insurance review. Using their handy AM Best rating lookup, we discovered Protective Life received an A+ rating.
Moody’s also confirmed its A1 insurance financial strength rating of Protective and its life insurance subsidiaries.
Furthermore, the Protective Life Insurance rating from Standard and Poor’s is A+ which is also very strong.
Protective life’s THIRD-PARTY RATINGS
Protective life’s THIRD-PARTY RATINGSWe also look into independent third-party customer rating sites to get policyholders’ opinions and complaints about their chosen insurer.
J.D. Power rates insurance companies based on product offerings, price, clarity of communication, and application process. Protective ranked 16th out of 21 insurers, scoring 752 out of a possible 1,000 points.
The National Association of Insurance Commissioners (NAIC) tracks complaints submitted to the various state insurance departments.
Protective’s NAIC complaint index, averaged over the last three years, was 0.79, indicating the company received fewer criticisms than anticipated.
Better Business Bureau is a non-profit organization that ranks companies based on truth in advertising and commitment to solving client disputes.
It’s good to know that Protective did receive an excellent A+ rating from BBB.
Most of Protective Life insurance Company’s customer base seems happy with its customer service, but consumer complaints and negative Protective life insurance reviews certainly exist.
Rather than focusing on complaints, we encourage policyholders to evaluate the claims-paying ratings from rating agencies like AM Best, Standard and Poor’s, and Moody’s.
Protective Term Life Insurance
A significant life event, such as the birth of a child or a marriage, can change your life insurance needs.
Term life insurance helps you ensure that your loved ones are taken care of financially if something happens to you.
Term life insurance is excellent for people looking for inexpensive coverage with guaranteed death benefits and level premiums for a specific time.
You can coordinate term insurance in duration to match your needs, such as covering a mortgage loan or protecting your income for your surviving spouse.
Protective Classic Choice Term
Protective Classic Choice Term Investopedia says Protective Life Insurance Company offers some of the industry’s most affordable rates on its term life insurance policies.
Protective Life, AIG, and Banner Life are the only insurers that offer term durations beyond thirty years.
Banner Life and Protective Life have introduced a 40-year term life insurance and are the only insurers that offer this extended term length.
Non-smokers can buy a Protective Life policy anytime before age 45, while smokers must purchase before age 40.
The name of their term insurance product is called the Protective Classic Choice Term. Here are a few of the classic choice term insurance highlights.
Protective Life Review of Classic Choice Term
Protective Life Review of Classic Choice Term- Term periods from 10, 15, 20, 30, and 40 years
- Coverage amounts from $100,000 to $50,000,000
- Guaranteed level premiums and death benefits
- Policyholders can convert their term coverage into a permanent policy
- Income tax-free death benefit to your beneficiaries
Affordable Life USA can assist shoppers by providing cheap life insurance comparisons with easy-to-understand insurance planning concepts.
We are not a call center like Big Lou, SelectQuote, Accuquote, or AIG Direct, and we will not bother you with endless phone calls.
You can use our life insurance calculator to compare rates from our network of insurance carriers.
Universal Life from Protective Life
Universal life insurance has a cash accumulation component similar to a savings account with tax-deferred growth and lifetime coverage.
Protective Life’s universal life comes with three unique product designs not frequently found in today’s marketplace.
- No cash value accumulation – Custom Choice UL
- No cash value accumulation – Costco Member Advantage Life UL
- Builds cash value – Advantage Choice UL & Lifetime Assurance UL
Protective Custom Choice UL
Protective Custom Choice ULWe highly recommend the Custom Choice UL because it offers the flexibility of a universal life policy at rates similar to term life insurance.
Custom Choice UL does not accumulate cash value, but the premiums have a guaranteed no-lapse guarantee to maintain coverage until a specific age.
Your coverage will remain in force if you pay the no-lapse guarantee premium.
The death benefit will decrease if you live beyond the originally selected age, while the original premium will remain the same.
Protective life review of Custom Choice Ul
- Guaranteed low-cost premiums which remain level for your lifetime
- Level payment for 10, 15, 20, 25, or 30 years
- If you live beyond the initial term period, the death benefit will reduce, but your premium will always remain the same.
- Options to extend your coverage for your life should your needs change
- Coverage amounts from $100,000 to $50,000,000
- Policyholders can convert their term life policy to a permanent life policy.
- Income tax-free death benefit to your beneficiaries
Costco Life Insurance
Costco Life Insurance That’s right! Protective and Costco have teamed up to provide active Costco members with life insurance.
Costco only offers a straightforward policy called the Member Advantage Life UL policy.
Our Costco insurance review found that the Member Advantage has similar features to the Protective Custom Choice UL policy with fewer options.
Costco Member Advantage Life UL
- Life insurance protection for only 10 or 20 years
- Options to extend your coverage for your entire life should your needs change.
- A reduction in your premium payment for the first five years of payments
- Ability to extend the payments with an increased cost for 5 or 15 years
- If you live beyond the initial term period, the death benefit will reduce, but your premium will always remain the same
- Income tax-free death benefit to your beneficiaries
Here is an example of a $500,000 Member Advantage Life UL policy for twenty years as a male Costco member.
As you can see, Costco life insurance gives members a 20% savings only on the first five years of premium, with the premiums increasing after year six.
After the initial 20-year benefit period, the face amount will decrease until it reaches $10,000.
$500,000 Costco Life Insurance
| Age | Death Benefit | Premium |
| 45 – 50 | $500,000 | $587 |
| 51 – 65 | $500,000 | $712 |
| Age 66 | $170,145 | $712 |
| Age 66 | $59,256 | $712 |
| Age 85 | $18,940 | $712 |
| Age 91 | $10,000 | $712 |
Plus, with Protective life through Costco, you only have one type of policy for either 10 or 20 years.
If you need coverage for 15 or 30 years, use the Protective Custom Choice UL product or another insurance company.
Protective Advantage Choice UL
Protective Advantage Choice ULProtective universal life insurance policies can also accumulate excess cash values inside the policy.
After accumulating substantial cash values, you can withdraw or borrow against the policy.
The Advantage Choice can be “over-funded” or dialed into specific ages 90, 95, 100, and 121.
Remember that to build excess cash value, you will need to “over-fund” your Advantage Choice policy which adds to your total cost for your coverage.
The primary target market for Advantage Choice is insurance buyers above the age of 50 that need affordable lifetime coverage.
If you are interested in a policy with accelerated cash value accumulation, there are probably better options with other life insurance companies.
Permanent products such as indexed universal life, variable life, or whole life will earn higher interest rates and build more substantial cash values over time.
Protective Lifetime Assurance UL
Protective Lifetime Assurance ULProtective life has introduced a new universal life solution called Lifetime Assurance UL.
Lifetime Assurance UL offers lifetime guarantees and predictable payments and is the cheapest permanent product in Protective’s portfolio.
Lifetime Assurance UL offers lifetime guarantees, unique riders, and endorsements that can be added to your coverage.- ExtendCare Rider: This rider can be added to your policy to ease the financial burden you may experience if you become chronically ill.
- Return of Premium Endorsement: On or after the 10th policy anniversary, this endorsement will refund 25% of your cumulative premiums if you cancel your policy.
Protective Universal Life Quotes
- Select Lifetime
- Select Amount
- Press Get Quote
Protective Life Insurance Riders
When buying life insurance, most people think only about basic term insurance or universal life coverage.
However, you can add several different riders to a policy to customize it to your specific needs.
Here is a look at some of the most popular life insurance riders offered on most Protective Life policies.
- Waiver of Premium: This optional rider helps people who become disabled and can not pay their premiums. The Waiver of Premium rider ensures your policy remains in force until you can continue making payments.
- Accelerated Death Benefit: This is a free rider. If you are diagnosed as terminally ill, you can access a portion of the death benefit to help pay for your medical expenses.
- Children’s Rider: This optional rider covers all eligible children to the early of the child’s 25th birthday or the insured’s 65th birthday.
- Convertible: This allows current policyholders to convert their term life policy to a longer-running permanent life policy. Convertible term life is an excellent option if you have developed any health problems because you automatically qualify without medical questions.
Protective Life Underwriting
It isn’t easy to know your actual Protective life insurance payments until you go through the underwriting process.
Your rate class is established during the application process and is mainly determined by assessing your medical history.
Protective has typical rate classifications that go from preferred plus to standard and offers favorable underwriting for many pre-existing conditions.
Like many life insurance companies, Protective Life requires you to do a medical exam to qualify for coverage.
During your examination, the nurse asks about your medical history, takes your physical measurements, checks your vital signs, and collects blood and urine samples.
The entire exam process only takes about 15 minutes to complete!
Don’t worry about having a few medical issues because Protective Life is an excellent choice for people with many common health problems.
Protective Life Insurance Underwriting Highlights
Protective Life Insurance Underwriting Highlights- Blood pressure: People with hypertension with average readings of no more than 135/85 qualify for the best rates.
- Cholesterol: If you need life insurance with high cholesterol and your cholesterol is controlled, you can still qualify for a preferred plus rate class.
- Diabetes: Diabetic life insurance applicants can qualify for a standard rate compared to a substandard rating offered at many companies.
In some cases, we can help you obtain better pricing with Protective than other insurers if you have one of these pre-existing conditions.
However, if you are not approved at the rate class quoted with Protective Life, we will automatically begin to “shop” with other insurers for a better offer.
You will not be required to take an additional exam!
Affordable Life USA will use our comprehensive search engine, which has most companies’ medical underwriting guidelines.
Your medical profile can be submitted to companies to determine which insurer would be willing to offer you coverage at the most competitive rate class.
This shopping service can make a big difference in your premiums!
FAQ
How long is the Application Process?
The underwriting time varies depending on whether your agent recommends the no exam or exam underwriting process.
In some cases, it may only take a week to approve your policy!
However, if a medical exam and medical records are needed from your doctor the normal time is 2-3 weeks from the time you take your examination.
Can I buy directly from the company?
You will not save any money by buying directly from the life insurance carrier.
The premiums you obtain will be the same directly through the insurance company or with an independent agent.
Are my life insurance quotes accurate?
Our advanced life insurance comparison tool swiftly sifts through numerous insurers to find you the best quotes.
With our calculator, get immediate estimates on life insurance rates without needing to share any personal, financial, or health details.
To fine-tune your quote accuracy, we might later request additional health information.
Typically, the cost of your final policy will be within 10% of the initial online estimate we provide.
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Affordable Life USA is a leading independent insurance agency offering comprehensive life insurance solutions to clients nationwide.
Eric Van Haaften, LUTCF
1-877-249-1358
