Protective Life Insurance: Comprehensive Plans and Review

Shawn Plummer

CEO, The Annuity Expert

Looking for information about Protective Life Insurance? You’ve come to the right place! In this guide, we will provide you with all the information you need to make an informed decision about whether or not Protective Life Insurance is the right choice for you. We’ll discuss what coverage options are available, how much protection you can expect, and who should consider purchasing a policy. So, whether you’re just starting to think about life insurance or you’re ready to buy a policy, read on for everything you need to know about Protective Life Insurance companies, then request a quote!

Note: We are an independent licensed insurance agency representing Protective Life Insurance (among 25 other life insurance companies), and are providing a non-biased review of the products.

Protective Life Insurance Quotes

About Protective Life Insurance

Protective Life Insurance Companies are leading providers in the insurance industry offering some of the best life insurance and annuity products in the United States. Protective life insurance companies offer a broad range of life insurance products, including term life, whole life, universal life, indexed universal life, and variable universal life policies. In addition to these traditional product offerings, Protective also provides annuities, credit insurance, and investment products.

Protective Life Insurance Company has been in operation since 1907 and is headquartered in Birmingham, Alabama. The company operates through a network of more than two thousand agents and brokers across the United States. Protective Life Insurance Company is a publicly-traded company with shares listed on the New York Stock Exchange (NYSE), and its family of companies includes MONY life insurance company and West Coast Life Insurance Company.

MONY Life

MONY Life Insurance Company was acquired in 2013 by Protective Life Insurance Company. MONY life insurance policies and annuity contracts will be converted to a new administrative system. For more information about the upcoming changes, visit protective.com/mony.

West Coast Life

West Coast Life Insurance Company was acquired in 1997 by Protective Life Insurance Company. It was a nationwide provider of insurance solutions, including life insurance products and annuities.

What Coverage Options Are Available?

Protective Life offers a variety of permanent coverage options to meet your needs. Term life insurance policies are available in terms of ten, fifteen, twenty, or thirty years. Unfortunately, Protective Life doesn’t offer whole life insurance policies. However, Protective Life’s universal life insurance policies offer flexible premiums and death benefit protection. Indexed universal life insurance policies provide the opportunity to earn interest based on changes in selected stock market indexes, while still providing an inheritance to your beneficiaries.

How Much Protection Can I Expect?

The amount of protection you can expect from Protective Life Insurance depends on the type of policy you purchase and the coverage options you select. Term life insurance policies provide protection for a set period of time, while whole life insurance policies provide permanent coverage. Universal life insurance and indexed universal life insurance policies offer flexible death benefit protection that can be adjusted as your needs change over time.

More Info: Protective Term Life Insurance

Protective Term Life Insurance

If you’re looking for temporary protection, term life insurance from Protective Life is a great option.

  • Protective Classic Choice term life insurance policies are available in term periods of ten, fifteen, twenty, thirty years, or forty years and they provide guaranteed, level premiums and financial protection for the length of the term.
  • At the end of the term, Protective Life’s term life policies will expire and you will no longer have coverage.
  • Applicants can apply for coverage amounts from $100,000 to $50,000,000. A medical exam is required.
  • Protective Life policy owners can convert to a permanent policy without a medical exam if their needs change.
  • Heirs will inherit a tax-free payout.
  • If your state allows for an accelerated death benefit rider, you can add a Terminal Illness rider to your policy, allowing access to paying for expenses.

Pros And Cons

  • Protective Life’s term life provides financial security for a certain length of time, often 10 to 40 years.
  • Offers fixed, level payments.
  • When you expect your family’s demand for insurance to decrease in the future, this is a good option.
  • Term life coverage is usually less expensive than permanent life insurance.
  • Term life does not build up cash value.
  • If you do not renew your insurance policy, the premiums might increase. You should plan for this and make sure you have enough money saved up to cover the increased costs.
  • When buying Protective Life term life policies, the face amount and coverage length cannot be changed.

Protective Universal Life Insurance

If you’re looking for flexible protection that can last your whole life, then Protective Universal Life Insurance is a good option.

With this type of policy, you have the ability to adjust your life insurance coverage amount as your needs change over time. You also have the flexibility to make changes to your premium payments.

Protective Universal Life Insurance policies also have a cash value component, which grows tax-deferred and can be accessed through policy loans and withdrawals.

Policy owners have the ability to make changes to their coverage amounts and premium payments. 

Heirs will inherit a tax-free death benefit.

If your state allows for accelerated death benefits, you can add a Terminal Illness rider to your policy, allowing access to paying for expenses. 

Plans Available

  • With Protective Custom Choice Universal Life Insurance, applicants can apply for coverage amounts starting at $100,000. Coverage lengths are available between ten and thirty years and vary by an applicant’s risk class. Policyowners can customize a guaranteed coverage period and keep level premiums after the period ends, with a declining death benefit as needs may change. There is no cash accumulation potential.
  • Protective’s Lifetime Assurance Universal Life Insurance policies are for applicants between the ages of 18 to 85 with a minimum face of $50,000 in coverage. No maximum policy amount. Life Assurance has a return of premium rider that allows policy owners to get 25% of the premiums paid back to them after the 10th anniversary. There is no cash accumulation potential.
  • The Protective Advantage Choice Universal Life policies offer lifetime protection with flexibility. Plus, you may be able to accumulate cash value over time. Applicants can be between ages 18 and 85 with a minimum face of $50,000 in coverage. No maximum coverage amount. Tax-deferred growth on the cash value. The Advantage Choice UL has a return of premium rider that allows policy owners to get 25% of the premiums paid back to them after the 10th anniversary. There is cash accumulation potential.
  • Protective Executive universal life policies are a type of key person life insurance designed for employers to offer their executive employees additional benefits as an incentive to compensate and incentivize key employees that are easy to administer, cost-effective, and portable for the employee. Applicants can be between ages 18 and 85 with a minimum face amount of $100,000.

Pros And Cons:

  • Protective life offers lifetime coverage with flexible death benefits and premium payment options.
  • The cash value accumulation component grows tax-deferred.
  • Protective Life policy owners have the ability to make changes to their coverage as their needs change over time.
  • Universal life policies are usually more expensive than term life insurance.
  • The cash value component can be accessed through policy loans and withdrawals, which may reduce the life insurance policy payout.
  • If you do not make the required premium payments to the insurance company, your policy might lapse and you will no longer have coverage.

Protective Indexed Universal Life Insurance

If you’re looking for a life insurance policy with potential cash value growth, then Protective Indexed Universal Life Insurance is a good option.

The Protective Indexed Choice Indexed Universal Life policy offers the financial protection of a universal life insurance policy with the potential for cash value growth through participation in the stock market (subject to a cap) or a fixed account. Applicants can be between a newborn to age 80 with built-in lapse protection. This policy has cash accumulation potential.

The cash value component grows tax-deferred and can be accessed through policy loans and withdrawals which is great for retirement income.

Applicants can apply for coverage amounts from $100,000.

Protective Life policy owners have the ability to make changes to their death benefit and payments.

Heirs will inherit a tax-free death benefit.

If your state allows for accelerated death benefits, you can add a chronic illness rider to your policy, allowing access to paying for expenses.

Pros And Cons:

  • The cash value accumulation component has the potential to grow through participation in the stock market.
  • Grows tax-deferred and can be accessed through policy loans and withdrawals.
  • Policy owners have the ability to make changes to their death benefit and payments.
  • This type of life insurance is usually more expensive than term life insurance.
  • The cash value component can be accessed through policy loans and withdrawals, which may reduce the death benefit.
  • If you do not make the required premium payments, your policy might lapse and you will no longer have coverage.
  • Protective life insurance company doesn’t offer an accidental death benefit rider or whole life as an option.

Compare Protective With Other Life Insurance Companies

Protective Life Insurance

Protective Life Insurance products offer coverage for individuals, couples, and families. Whether you’re looking for protection for yourself or your loved ones, Protective Life Insurance has the policy to fit your needs. If you’re ready to start shopping for life insurance, get a quote from Protective Life Insurance today!

Requesting a quote from Protective Life Insurance is easy and only takes a few minutes. You can get started by running a quote here.

Now that you know all about Protective Life Insurance, it’s time to decide if it’s the right choice for you. Consider your needs and compare quotes from multiple life insurance companies to find the best coverage at the best price. Get started today and protect your tomorrow!

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Need Help Getting Life Insurance Coverage?

We’re independent agents representing Protective Life. Feel free to contact us if you need help purchasing a life insurance policy. The service is free of charge.

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Protective Life FAQ

What is the Protective Life Insurance phone number?

The customer service number for Protective Life is 1-800-866-9933.

What is Protective Life Insurance rating with A.M. Best?

Protective Life’s financial strength ratings are A+ with A.M. Best, AA- with Standard and Poor’s, AA- with Fitch, and A1 with Moody’s.

Shawn Plummer

CEO, The Annuity Expert

I’m a licensed financial professional focusing on annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.

The Annuity Expert is an online insurance agency servicing consumers across the United States. My goal is to help you take the guesswork out of retirement planning or find the best insurance coverage at the cheapest rates for you. 

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