Protective Life Insurance – Today, there’s never been more of urgency in protecting your loved ones financially. Life insurance has always and will continually serve as a financial safety net, ensuring your family can maintain their lifestyle and meet important expenses even in your absence.
The Protective Life Insurance Company has over a century of experience, and has proven itself successful as a trusted provider that offers a variety of life insurance products designed to meet the broader needs of individuals and families.
Founded in 1907 and headquartered in Birmingham, Alabama, Protective Life Insurance has built a reputation for affordability, long-term value, and customer-centric service.
The company is now a part of Dai-ichi Life Holdings, one of the largest global life insurers. This has strengthened its financial strength and international backing even further.
Types Of Protective Life Insurance Policies
Protective Life offers several types of life insurance policies, each suited to different life stages, financial goals, and budgets. Here are the financial products by Protective:
Term Life Insurance
Term life insurance is one of the most popular and affordable options offered by Protective. It provides coverage for a fixed period, typically 10, 15, 20, 25, or 30 years. What’s more, if the insured dies during this term, their beneficiaries receive a tax-free death benefit. Some of its features include:
- Lower premiums than permanent life insurance
- Ideal for temporary needs like paying off a mortgage or funding college expenses
- Can be converted to permanent coverage before the term ends
- Offers death benefit protection without cash value accumulation
Universal Life Insurance
Universal life is a flexible permanent life insurance policy that offers adjustable premiums, a flexible death benefit, and a cash value component that earns interest. Some of its key features include:
- Good for long-term financial planning
- Cash value grows based on interest rates
- Flexibility to change death benefits and premiums
- Option to use cash value to pay premiums
Whole Life Insurance
Whole life insurance provides a cash value component that grows over time. Also, the premiums are fixed and do not increase as the insured ages. Some of its features include:
- Option to borrow against the policy’s cash value
- Level premiums for the life of the policy
- Lifetime coverage
- Cash value accumulation with guaranteed returns
Indexed Universal Life (IUL) Insurance
Another insurance policy that Protective offers is the Indexed Universal Life policy. This insurance policy offers the flexibility of universal life insurance but allow the cash value to grow based on the performance of a stock market index like the S&P 500. Its key features include:
- Potential for higher cash value growth
- Tax-advantaged growth
- Useful for retirement planning and wealth accumulation
- Market-indexed performance with downside protection
Benefits Of Choosing Protective Life Insurance
There are many advantages that come with choosing Protective Life Insurance as the company to work with. Here are some standout benefits associated with this insurance company:
Competitive Pricing
Protective is well-known for offering some of the most affordable premiums in the industry, particularly for term life insurance. They have a model called the “Protective Classic Choice Term” which is one of the lowest-cost options available.
Online Tools And Quotes
Protective offers a user-friendly website with quote tools, calculators, and guides to help customers explore options and get coverage faster.
Customizable Coverage
You can tailor your policy using riders (optional benefits) like Child term rider, accidental death benefit, terminal illness accelerated benefit, waiver of premium and more.
Conversion Options
Protective allows you to convert a term policy into a permanent one without undergoing a new medical exam, which proves to be super helpful.
Strong Financial Ratings
The company has received high financial strength ratings from agencies such as A.M. Best, Moody’s, and Standard & Poor’s. All these indicates its reliability in meeting policyholder obligations.
Who Should Consider Protective Life Insurance?
Whether you’re just starting your career, getting married, raising kids, or planning retirement, Protective Life has policies designed to fit your life stage. You may consider Protective as a reliable company to work with if you are:
- A business owner needing key-person or buy-sell coverage
- A parent wanting to ensure financial support for your children
- A homeowner with a mortgage and long-term obligations
- A young adult seeking affordable term life protection
- Someone preparing for estate planning or legacy creation
Frequently Asked Questions
How Do I Apply For Protective Life Insurance?
You can apply through their website, through an agent, or by phone. The process may involve a medical exam depending on the policy type and coverage amount.
How Long Does It Take For The Policy To Be Issued?
Depending on the type of policy and underwriting requirements, it can take anywhere from a few days to several weeks.
Is Protective Life Insurance Financially Stable?
Yes, they are. Protective has been in business since 1907 and has strong financial ratings, making it a secure and trusted insurer.
