Protective Life Insurance Review

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Protective Life Insurance is a prominent life insurance company that offers a range of insurance products, including term life, whole life, and universal life insurance. In today’s uncertain times, life insurance is becoming increasingly important to ensure the financial security of loved ones in the event of an unexpected death.

However, with numerous insurance providers in the market, it can be overwhelming to choose the right one. That is why it is essential to review insurance companies before making a decision.

In this article, we will focus on Protective Life Insurance, its products, and why it is important to review this company before choosing a life insurance provider.

Background of Protective Life Insurance

Protective Life Insurance is a company that has been providing insurance services to its customers for over 100 years. It was founded in 1907 in Birmingham, Alabama, and since then, has expanded its operations to become a leading provider of life insurance and other related products in the United States.

The company offers a wide range of life insurance policies to cater to the varying needs of its customers. These include term life insurance, whole life insurance, universal life insurance, and variable universal life insurance. Each policy type has its unique features and benefits, and customers can choose the one that best suits their needs and budget.

Protective Life Insurance has been able to maintain a strong financial position over the years, thanks to its prudent financial management policies. The company has consistently received high ratings from leading credit rating agencies such as A.M. Best, Moody’s, and Standard & Poor’s. These ratings are a reflection of the company’s financial strength and stability, which gives customers the assurance that they can trust the company to honor its commitments in the event of a claim.

In conclusion, Protective Life Insurance is a company with a long history of providing quality insurance products to its customers. Its wide range of life insurance policies, coupled with its strong financial position, make it a reliable choice for anyone looking to secure their family’s future.

Protective Life Insurance Review

Protective Life Insurance is a well-known life insurance provider that offers a range of policy options to meet the needs of individuals and families. In this review, we will examine the company’s policy features, customer service and support, underwriting process, and how it stacks up against other leading life insurance providers.

Policy Features:

Protective Life Insurance offers a range of policy options, including term life insurance, whole life insurance, and universal life insurance. Term life insurance policies are available for 10, 15, 20, or 30-year terms, with coverage amounts ranging from $100,000 to $50 million. Whole life insurance policies provide lifelong coverage and can build cash value over time, while universal life insurance policies offer flexibility in premium payments and death benefit options.

In addition to its standard policy options, Protective Life Insurance also offers riders that can be added to policies for an additional cost. These riders include a child rider, accidental death benefit rider, and disability income rider, among others. Overall, Protective Life Insurance provides a variety of policy options and riders to meet the needs of its customers.

Customer Service and Support:

Protective Life Insurance is known for its excellent customer service and support. The company has a strong online presence, with a user-friendly website that allows customers to easily access policy information and manage their accounts. Protective Life Insurance also offers 24/7 customer support through its call center and online chat feature, which can be helpful for customers who need assistance outside of regular business hours.

Underwriting Process and Policy Approval Timeline:

Protective Life Insurance’s underwriting process is thorough, with a focus on providing accurate and competitive rates to its customers. The company’s policy approval timeline can vary depending on the applicant’s age, health status, and the type of policy being applied for. However, in general, Protective Life Insurance has a relatively fast policy approval process compared to other life insurance providers.

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Comparison to Other Leading Life Insurance Providers:

When compared to other leading life insurance providers, Protective Life Insurance offers competitive policy features and rates. The company’s policy options are varied and flexible, and its customer service and support are highly rated. Additionally, Protective Life Insurance’s underwriting process is efficient and timely, making it a good option for those who need coverage quickly.

Types of Life Insurance Sold by Protective Life Insurance

Best life insurance companies list and offers these types of life insurance products:

  • Term life
  • Whole life
  • Universal life
  • Indexed universal life
  • Variable universal life

Protective’s term life insurance

Term life insurance is ideal for people who have a specific period they wish to cover with fixed premiums. For example, if a person wants enough coverage for income replacement if they die, a term life policy with a term that covers the remainder of their working years is ideal. Term life insurance is often the least expensive life insurance option but does not build cash value.

Protective offers the Protective Classic Choice Term life product for people ages 18 to 52 seeking term life insurance. You can choose term periods from 10 to 40 years in coverage amounts ranging from $100,000 to $50,000,000. These term life policies are renewable until age 90, but you should prepare for increased premiums upon each renewal.

Protective’s whole life insurance

If you have a whole life insurance policy, a death benefit is guaranteed as long as you pay your premiums, no matter how long you live. Whole life insurance policies offer the perk of building cash value with a guaranteed rate of return and the assurance of premiums that do not change. You can borrow against the cash value of your whole life policy for any reason.

Protective Non-Participating Whole Life Insurance is a policy that does not pay cash dividends like some other whole life policies. The premium, death benefit and cash surrender amounts are set at a fixed amount when you buy the coverage. It is available for people up to age 90. This policy has death benefits starting at $1,000 or $100,000, depending on your health and risk classification, and go up to over $1 million.

Protective’s universal life insurance

Universal life insurance offers coverage that can last a lifetime, depending on the type you choose. Some types of universal life insurance offer level death benefit periods (including a lifetime option) where premiums and death benefits do not change.

If you choose universal life with cash value accumulation, you can withdraw or take loans from the cash value for any reason.

Protective Custom Choice UL offers flexible low premiums without cash value accumulation and is available to buyers ages 18 to 85. With this type of UL policy, one can choose a death benefit level period of 10, 15, 20, 25, or 30 years, or lifetime. During this time, premiums and death benefits remain level or unchanged.

Unless you’ve selected the lifetime option, after the initial level period, premiums will continue to remain level but your death benefit will decrease each year until it reaches $10,000, at which times the premiums will begin to increase.

Death benefit coverage amounts begin at $100,000 and go up to over $1 million.

Protective’s indexed universal life insurance

Indexed universal life insurance is an option for people looking for cash value that will grow (or decline) with an index, like the S&P 500 and the flexibility to vary premiums and death benefits.

Participation caps on the cash value growth and fees are commonly associated with indexed universal life insurance products.

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Protective Indexed Choice UL is Protective’s indexed universal life product available to buyers ages 18 to 75. With this policy, you can choose two interest-building accounts. One option is a fixed account where the interest rate will never fall below 1%, and the other option is an indexed account where cash value can rise or fall based on the performance of the S&P 500. The fixed account is less risk and less return, while the indexed account is a higher risk with a higher potential for return.

Indexed accounts have a guaranteed minimum floor rate of no less than 0%, which means that the interest rate your cash value earns can never fall below 0%, protecting you from losing value due to poor S&P 500 performance. You can, however, lose value as policy fees are deducted from the account.

After your first year as a Protective Indexed Choice UL policyholder, you can transfer funds between your fixed and indexed accounts. You can also access your cash value through a loan or withdrawal for any reason.

Protective’s variable universal life insurance

Variable universal life insurance may be ideal for people seeking ultimate flexibility. With this type of policy, you can vary premium payments and death benefits. The cash value component is tied to multiple sub-accounts that you get to select.

There is a fixed account option with a guaranteed minimum interest rate for those seeking a little bit lower risk. Like other types of universal life insurance, variable universal gives you the protection of borrowing or withdrawing money from your cash value whenever needs arise.

For example, Protective’s Protective Strategic Objectives II VUL is available to buyers ages 18 to 90 and offers face amounts beginning at $100,000. The fixed cash value account option has an interest rate guaranteed not to fall below 1%. The variable account option gives you the choice of investing in one of four asset allocation portfolios (conservative, moderate, growth & income, aggressive growth) or if you’re interested in choosing your investments, you can invest in a customized portfolio where you select all your investment sub-accounts.

The minimum loan or withdrawal amount for the Protective Strategic Objectives II VUL is $500, and the maximum is 99% of the policy’s cash value.

This Protective life insurance policy comes with some built-in lapse coverage, which gives you a lapse grace period if, on any monthly anniversary, the surrender value is less than the monthly deduction. The grace period gives policyholders 61 days to pay past-due deductions before the policy lapses.

Protective’s Life Insurance Riders

Life insurance riders give you the flexibility of customizing your policy with extra coverage or features. Rider availability may vary by policy type. Here are the riders offered by Protective.

  • Accidental Death Benefit Rider. This rider may be an ideal solution for someone seeking coverage above their base policy limit for accidental death coverage. Perhaps you work in a dangerous job, and buying additional coverage on your base policy is too pricey. Protective’s Accidental Death Benefit rider offers that additional coverage at an affordable cost.
  • Child Life Insurance Rider. You can purchase Protective’s Children’s Life Insurance rider as an add-on to a term life policy. This rider lets you add all children ages 15 days to 25 years for life insurance coverage.
  • Disability Rider. If you purchase this rider and become disabled, as defined by Protective’s rider requirements, you can receive a percentage of your life insurance policy face value monthly.
  • Guaranteed Insurability Rider. Perhaps you’re buying life insurance now but can’t afford the amount of coverage you truly need. This Protective rider allows you to buy additional coverage at a later date without having to jump through any insurability hoops.
  • Lapse Protection Rider. Some Protective Life universal policies come with a built-in no-lapse guarantee. Still, for those that don’t, Protective offers a Lapse Protection rider so that if there are periods of no or low cash value accumulation, the policy will not lapse even if the cash value is zero.
  • Overloan Protection Rider. If you withdraw or borrow money from your life insurance policy and your surrender value is too low to cover monthly charges, this rider protects you from lapse if certain conditions are met.
  • Return of Premium Rider. Protective’s term life policies are eligible for this rider, which refunds the premiums you’ve paid if you outlive your term life policy.
  • Terminal Illness Accelerated Death Benefit Rider. If you are diagnosed with a terminal illness, this rider pays out an accelerated death benefit, so you can use the money now for needs you may have. Protective’s rider will specify what conditions must be met to qualify.
  • Waiver of Premium Rider. Protective’s Waiver of Premium rider allows you to stop paying policy premiums temporarily if you become disabled and unable to work. Even though you stop paying the premiums, your life insurance policy will still be in force.
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Pros and Cons of Protective Life Insurance

Protective Life Insurance, like any insurance provider, has its fair share of pros and cons. Here are some advantages and drawbacks to consider when evaluating Protective Life Insurance:


  • Competitive Pricing: Protective Life Insurance offers competitive pricing for their policies, making them an affordable option for many individuals and families.
  • Flexible Policy Options: Protective Life Insurance offers a variety of policy options, allowing customers to customize their coverage to fit their specific needs.
  • High Customer Satisfaction Ratings: Protective Life Insurance has consistently received high customer satisfaction ratings from reputable sources such as J.D. Power and the Better Business Bureau.


  • Limited Availability: Protective Life Insurance may not be available in all states, which could limit its accessibility for some individuals.
  • Potential Underwriting Challenges: Depending on the individual’s health and lifestyle factors, Protective Life Insurance may have more stringent underwriting requirements, which could make it more challenging to obtain coverage.

When considering Protective Life Insurance, it’s essential to weigh the advantages and drawbacks carefully. While competitive pricing and flexible policy options may make it an appealing option, limited availability and potential underwriting challenges may make it less accessible for some. Ultimately, it’s up to the individual to decide whether Protective Life Insurance is the right fit for their insurance needs.


In conclusion, we have explored the features, benefits, and limitations of Protective Life Insurance. We have seen that Protective Life Insurance offers a wide range of products and services to cater to the diverse needs of customers. We have also noted that Protective Life Insurance has received positive ratings and reviews from customers and industry experts.

Based on our analysis, we believe that Protective Life Insurance is a good choice for consumers who are looking for reliable and affordable life insurance coverage. Protective Life Insurance offers a variety of policy options with flexible terms and customizable benefits, making it easy for customers to find a policy that fits their unique needs.

In conclusion, we recommend that readers consider Protective Life Insurance as a potential option for their life insurance needs. With its competitive rates, excellent customer service, and strong financial stability, Protective Life Insurance can provide peace of mind and security for individuals and families.

Therefore, we encourage our readers to take action and explore Protective Life Insurance as an option for their life insurance needs. Whether you’re looking for term life insurance, whole life insurance, or other coverage options, Protective Life Insurance has something for everyone. Don’t wait until it’s too late – get protected with Protective Life Insurance today.