Life insurance is an essential part of financial planning. It provides financial security to your loved ones in the event of your untimely death. There are several life insurance companies in the market, and Protective Life Insurance is one of them. In this article, we will provide a comprehensive Protective Life Insurance review, including the company’s history, product offering, pricing, customer service, and more.
Protective Life Insurance Company Overview
Protective Life Insurance Company was founded in 1907 in Birmingham, Alabama. It currently operates in all 50 states, and its headquarters are in Birmingham, Alabama. Protective Life is a wholly-owned subsidiary of Dai-ichi Life Holdings, Inc., a global insurance company based in Japan. Protective Life is rated A+ by A.M Best, which is an excellent rating for financial strength.
Protective Life Insurance offers a wide range of life insurance products, including term life insurance, whole life insurance, and universal life insurance. Protective Life also offers additional coverage options such as accidental death insurance and final expense insurance.
Protective Life Insurance Products Offered
Protective Life Insurance offers a range of life insurance products tailored to meet different financial needs. Let’s take a closer look at these insurance products.
Term Life Insurance
Term life insurance is the most affordable life insurance option. It provides coverage for a specific period, usually between 10 to 30 years. Protective Life Insurance offers both level term and decreasing term life insurance products. Level term life insurance has a constant death benefit throughout the policy’s term, while decreasing term life insurance has a decreasing death benefit, usually used in mortgage protection. Protective Life Insurance term life insurance policies are available for ages 18-75, with coverage amounts from $100,000 to $50 million, depending on your age, health, and other factors.
Whole Life Insurance
Whole life insurance provides lifelong protection, with level premiums and a guaranteed death benefit. It also has a cash value component, which means you can build cash value over time that you can borrow against or withdraw. Protective Life Insurance offers a variety of whole life insurance products, including universal life, indexed universal life, and variable universal life. These policies are available for ages 18-85, with coverage amounts ranging from $25,000 to $50 million.
Accidental Death Insurance
Accidental death insurance provides an additional death benefit if the policyholder dies from an accident. It is a type of supplemental insurance that can be added to a life insurance policy. Protective Life Insurance offers accidental death insurance with coverage amounts ranging from $50,000 to $500,000.
Final Expense Insurance
Final expense insurance is a type of whole life insurance designed to cover the expenses of a funeral, burial, and other final expenses. Protective Life Insurance offers final expense insurance with coverage amounts ranging from $5,000 to $25,000.
Protective Life Insurance Pricing
Protective Life Insurance pricing is competitive, and premiums are determined based on several factors such as age, health, gender, the amount of coverage, and the type of policy. Protective Life Insurance provides insurance quotes online, and you can also get quotes through an agent or broker.
The cost of life insurance increases with age, and the younger you are when you buy a policy, the lower the premium. For example, a 30-year-old non-smoker male in good health can get a 20-year term life insurance policy with a $500,000 death benefit for as low as $20 per month.
Protective Life Insurance Customer Service
Protective Life Insurance has a strong reputation for excellent customer service. The company has a customer service portal on its website, where you can manage your policy, pay premiums, and file claims online. Protective Life Insurance also has a mobile app that allows customers to access their policy information on their smartphones. The company also has a 24/7 customer service phone line that you can call for assistance.
Protective Life Insurance Reviews
Protective Life Insurance has received positive reviews from customers and industry experts. The company has an A+ rating from the Better Business Bureau and a 4-star rating from Trustpilot. Protective Life Insurance has also received several awards for its excellent customer service and financial strength.
Protective Life Insurance FAQ
What is Protective Life Insurance?
Protective Life Insurance is a life insurance company that provides a range of life insurance products, including term life insurance, whole life insurance, and universal life insurance.
Where is Protective Life Insurance located?
Protective Life Insurance is headquartered in Birmingham, Alabama, and operates in all 50 states in the US.
What life insurance products does Protective Life Insurance offer?
Protective Life Insurance offers term life insurance, whole life insurance, universal life insurance, accidental death insurance, and final expense insurance.
What is the cost of Protective Life Insurance?
The cost of Protective Life Insurance depends on several factors, such as age, health, gender, the amount of coverage, and the type of policy. Protective Life Insurance provides insurance quotes online, and you can also get quotes through an agent or broker.
What is the maximum coverage offered by Protective Life Insurance?
Protective Life Insurance offers coverage amounts ranging from $25,000 to $50 million, depending on the policy type, age, health, and other factors.
How do I get a quote for Protective Life Insurance?
You can get a quote for Protective Life Insurance by visiting the company’s website, calling a customer service representative, or contacting an agent or broker.
Protective Life Insurance Product Comparison
Product Type |
Term Length |
Coverage Amount |
Premium |
Term Life Insurance |
20 years |
$500,000 |
$20 per month |
Whole Life Insurance |
Life |
$100,000 |
$100 per month |
Accidental Death Insurance |
Life |
$250,000 |
$25 per month |
Final Expense Insurance |
Life |
$15,000 |
$50 per month |
Conclusion
Protective Life Insurance is a reputable life insurance company that offers a range of life insurance products to meet different financial needs. Its pricing is competitive, and the company has a strong reputation for excellent customer service. If you are considering buying life insurance, Protective Life Insurance is a company worth considering.
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