Protective Life Insurance Company: A Comprehensive Guide

Protective Life Insurance Company has been providing life insurance solutions for more than 100 years. They offer a variety of life insurance products, including term life insurance, whole life insurance, and universal life insurance. This article will provide an in-depth review of Protective Life Insurance Company, including their history, products, and customer service.

History of Protective Life Insurance Company

Protective Life Insurance Company was founded in 1907 in Birmingham, Alabama. Since then, they have grown to become one of the leading providers of life insurance in the United States. In 2015, Protective Life was acquired by The Dai-ichi Life Insurance Company, Limited, a leading life insurance company in Japan.

Protective Life Insurance Company has been recognized for their financial stability and strong ratings from major rating agencies, including A.M. Best, Moody’s, and Standard & Poor’s.

Over the years, Protective Life has also been committed to giving back to the community through their philanthropic efforts. They have donated millions of dollars to various charitable organizations, including Children’s Hospital of Alabama and the American Cancer Society.

Protective Life Insurance Products

Protective Life offers a variety of life insurance products to meet the needs of their customers. These products include term life insurance, whole life insurance, and universal life insurance.

Term Life Insurance

Protective Life’s term life insurance policies provide coverage for a specific period of time, typically 10, 15, 20, or 30 years. This type of policy is ideal for those who need coverage for a specific period of time, such as while their children are growing up or while they are paying off a mortgage.

Protective Life offers a variety of term life insurance products, including Classic Choice Term, Custom Choice UL, and eTerm. Each policy has its own unique features and benefits, so it’s important to review each option carefully before making a decision.

Classic Choice Term

Classic Choice Term is Protective Life’s most popular term life insurance product. It offers coverage for periods of 10, 15, 20, 25, or 30 years, and is available for individuals aged 18 to 75.

One of the unique features of Classic Choice Term is the ability to convert the policy to a permanent life insurance policy, such as whole life or universal life insurance, without a medical exam. This can be a valuable option for those who want to keep their coverage beyond the initial term period.

Custom Choice UL

Custom Choice UL is a term life insurance policy that provides coverage for up to 40 years. It offers flexible premium payment options and the ability to convert to a permanent life insurance policy without a medical exam.

Custom Choice UL also has a unique rider option called the Accelerated Death Benefit Rider, which allows policyholders to access a portion of their death benefit if they are diagnosed with a terminal illness.

eTerm

eTerm is Protective Life’s online term life insurance option. It offers coverage for periods of 10, 15, 20, or 30 years, and is available for individuals aged 18 to 65. Customers can apply for coverage online and receive a decision within minutes.

eTerm also offers a unique feature called the ePolicy Delivery option, which allows customers to receive their policy electronically rather than through traditional mail.

Whole Life Insurance

Protective Life’s whole life insurance policies provide coverage for the entire life of the insured. These policies also accumulate cash value over time, which can be borrowed against or used to pay premiums.

Whole life insurance is typically more expensive than term life insurance, but it can provide lifelong coverage and financial security for the insured and their beneficiaries.

Protective® Whole Life

Protective® Whole Life is Protective Life’s flagship whole life insurance product. It offers coverage up to age 121 and has guaranteed level premiums for the life of the policy. Protective® Whole Life also has a cash value component that can be borrowed against or used to pay premiums.

Universal Life Insurance

Protective Life’s universal life insurance policies provide flexible coverage that can be adjusted as the insured’s needs change over time. These policies also accumulate cash value over time, which can be used to pay premiums or borrowed against.

Protective® Custom Choice UL

Protective® Custom Choice UL is Protective Life’s universal life insurance product. It offers flexible premium payment options and adjustable coverage amounts to meet the changing needs of the insured.

Custom Choice UL also has a unique rider option called the Guaranteed Income Benefit Rider, which provides a guaranteed income stream for the insured in retirement.

Protective Life Insurance Customer Service

Protective Life Insurance Company has a strong reputation for customer service. They offer a variety of online tools and resources to help customers manage their policies and make payments. They also have a customer service phone number and live chat option for those who need assistance.

Protective Life Insurance Company also has a claims process that is designed to be quick and easy for customers. They offer an online claims submission option as well as a 24/7 claims reporting hotline.

FAQ

Conclusion

Protective Life Insurance Company has been providing life insurance solutions for more than 100 years. They offer a variety of life insurance products, including term life insurance, whole life insurance, and universal life insurance. Protective Life is also committed to giving back to the community through their philanthropic efforts.

If you are in the market for life insurance, it’s important to review all of your options carefully and choose a policy that meets your needs and budget. Protective Life Insurance Company may be a good option for those who are looking for a reputable and financially stable life insurance provider.