Best Protective Life Insurance Reviews 2018 with Rates

review of Protective Life Insurance Company

Review of Protective Life Insurance Company

At TermLife2Go, we really like placing clients with this life insurance company. They have a solid rating, highly competitive term life insurance quotes, and good underwriting. As you may have read in other Protective Life Insurance reviews, this company is typically always one of the top five insurers for price, if not #1. The company is definitely one of the top 10 best life insurance companies in the US. But before we spoil the entire Protective Life review, let’s get to the background.

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Protective Life Background Information

To begin our Protective Life Insurance review we will start with a brief background of the company. Protective Life has been in existence since 1907. Protective Life’s core values are: Do the Right Thing, Serve People, Build Trust and Simplify Everything.

Protective Life carries an A+ rating with A.M. Best, the premier ratings agency. All in all, Protective Life has a lot going for it. But as you will see in our Protective Life review below, the number one thing Protective has going for it is offering some of the cheapest term life insurance coverage rates in the marketplace.

Low Price Leader

about protective lifeProtective Life has some of the least expensive life insurance coverage rates in the country for healthy males and females ages 30 all the way to age 60. And for most people seeking Protective Life Insurance Reviews, that is the number one concern: Price.

Life insurance companies adjust their prices often so we don’t know how long this will last but Protective Life is currently looking to add a serious amount of business. When a company lowers their prices like Protective Life has it is an optimal time to apply for life insurance coverage if you are looking for the cheapest life insurance policy available.

PLUS: Protective Life Underwriting Solution

Protective Life has taken huge steps towards automated accelerated life insurance underwriting process. As a result, some applicants may not be required to take an exam or submit fluids for approval.

You can qualify for up to $1,000,000 if you are between ages 18-45 and up to $500,000 for ages 46-60.

How it works is, Protective Life agents will conduct a TeleLife interview over the phone. After the necessary data from the interview is collected, there are two different ways underwriting can proceed.

One option is for accelerated underwriting, and the policy may be issued without the need for an exam or labs.

Option two is the typical underwriting course, where you will be required to take an exam.

The good news is, for many, you can get an excellent life insurance policy from Protective Life without the need for an invasive exam.

Note, those who qualify for the accelerated underwriting option will still require a background check, including information from the Medical Information Bureau.

Custom Choice Universal Life Insurance

Protective Life has done something different here. The company offers this UL product instead of traditional level term life insurance. It has the features of term life but upon expiry it converts automatically to universal life insurance with a reducing face amount for the same premium payment.

As a policyholder you can also convert the policy to another permanent life insurance option if you choose to before the policy expires or age 70, whichever comes first.

Sample Protective Life term life insurance quotes by age below. The quotes are based on a preferred plus male as of January 2016 for Protective Life’s Custom Choice Universal Life (UL) policy. Rates are for informational purposes only and in no way reflect the health classification or premium payment you will qualify for.

Sample Protective Life Insurance Quotes for a 30 year old

Face Amount 10 Year 15 Year 20 Year 30 Year
$500,000 $14 $16 $21 $34

Sample Protective Life Insurance Quotes for a 40 year old

Face Amount 10 Year 15 Year 20 Year 30 Year
$500,000 $18 $20 $29 $53

Sample Protective Life Insurance Quotes for a 50 year old

Face Amount 10 Year 15 Year 20 Year 30 Year
$500,000 $41 $62 $78 $140

Sample Protective Life Insurance Quotes for a 60 year old

Face Amount 10 Year 15 Year 20 Year 30 Year
$500,000 $112 $152 $211 n/a

As you can see in our Review of Protective Life Insurance, these are some amazingly low term life insurance rates. Talk about getting a serious bang for your buck.

(Update: We are noticing that other companies, such as Transamerica for 25 years and American National for 30 year terms, are out pricing Protective. However, Protective Life still has a card up their sleeve. See the income provider option below on how you can get even lower premiums).

And if those premiums are not low enough you can also add a rider to your Protective life insurance policy that can save you 5% all the way to 40% on your premium!

Protective Life Insurance Rider — income provider option

The income provider option helps Protective Life remain at the top of the pack for cheap life insurance. This rider allows the insured to spread the death benefit out as a payment to the beneficiary over a period of years instead of a lump sum payment. For example, a policy with a $500,000 death benefit could be structured to that the benefit to the beneficiary pays out $50,000 a year for 10 years instead of a $500,000 lump sum.

This is a great option if:

  1. you desire a lower premium and
  2. you are OK with your beneficiary receiving payments over a set number of years

One example of when this would be a great option is for a younger beneficiary, such as a son or daughter in college. Instead of your child receiving a lump sum that could easily be squandered you set the payment over ten years. Your son or daughter might blow through the money the first year or two but they will quickly learn that using the money in a more prudent manner is the best way to go. This can also be accomplished by naming your family trust as the contingent beneficiary so your death proceeds are distributed according to your living trust.

Protective Life is really getting it done when it comes to being the low price leader. There is no time like the present to lock into some cheap term life insurance. And with Protective, you can rest assured that your life insurance beneficiary will receive the claim in full.

Paying claims on time

“In 2013, we paid more than $2 billion in claims to our beneficiaries. Paying a claim is the single most important thing we do. It’s how we fulfill our promise to our customers.”

“In 2013, we paid more than $2 billion in claims to our beneficiaries. Paying a claim is the single most important thing we do. It’s how we fulfill our promise to our customers.”

-John D. Johns, Chairman, President and CEO

– See more at:

-John D. Johns, Chairman, President and CEO

Protective Life Insurance Policies

Protective Life offers a full suite of the different types of life insurance including: Term Life Insurance, Universal Life, Custom Choice UL, Variable UL and Survivor UL.

Protective Term Life Insurance

Rather than traditional level term life, Protective offers a unique universal life insurance policy. The initial terms available are: 10, 15, 20, 25 and 30 year. Upon expiry, you can keep the policy in force and pay the same premium. Rather, than raise the premium, Protective Life lowers your death benefit. Over time the death benefit will decrease until it remains fixed at $10,000.

Term is a great option for those who need protection to cover SBA Loans or fulfill divorce decrees. Also, it is  typically the less expensive option when considering key person business life insurance.

Protective Universal Life

Universal life offers the ability to build cash value and is designed to last the rest of your life. It offers flexible premium payments and death benefit. If you need to lower your premium for a time, for whatever reason, you can adjust your premiums based on your cash value.

If you find that you no longer need as much death benefit coverage, you can adjust the face amount down.

Universal life insurance is a great choice when you need a policy for the rest of your life, such as to fund buy sell agreements or life insurance trusts.

Some specific Universal Life Policies offered by Protective Life
Protective Life Advantage Choice UL

A GUL policy lets you customize your premium and coverage amount for a specified period of time. This guaranteed universal life policy keeps the premium level after the initial death benefit period. Instead, the death benefit gradually decreases year over year.

Protective Indexed Choice UL

Protective’s Indexed Choice UL lets you increase or decrease your death benefit without having to purchase a separate policy if your needs change. Like most Indexed Universal Life insurance policies, the Indexed Choice UL is tied to the performance of the S&P 500. You can also choose a fixed account, offering an interest rate guaranteed to never be below 1%.

Protective’s IUL offers a guaranteed cap rate of 3%, although the actual rate has been much higher. In addition, the indexed account has a guaranteed floor of 0% so you do not have to worry about a negative market destroying your policy’s principal.

Another great thing about the Indexed Choice UL is how life insurance loans are credited. All loans are participating loans, meaning you still get the index interest credited on the part of the account that is earmarked as collateral for the loan.

Some additional benefits are a 14 year declining surrender charge rate. The monthly expense charge drops off after the fifth policy year. And a terminal illness accelerated death benefit is included at no additional charge.

Protective Variable Universal Life

VULs have all the benefits of universal life in terms of flexible premiums and death benefit. In addition, variable universal life allows you to accumulate tax-deferred cash value through investment sub-accounts that act similar to mutual funds.

Note: investing in the market poses inherent risk. You have the opportunity for larger gains, but you can also lose money, including principal. We do not recommend VUL for this reason.

Protective Survivor Universal Life

Second to die life insurance is an excellent choice to pay estate taxes, provide for a child with special needs, or provide income for business succession of a family owned business. Typically a Second to Die or Joint Survivorship Life Insurance Policy is more affordable since it pays out after the death of the surviving partner.

Survivorship life insurance is a great estate planning vehicle if you desire to leave behind a lump sum death benefit for your beneficiary or estate to cover federal estate tax or your state’s inheritance tax. Using a properly funded irrevocable life insurance trust is highly encouraged. Consult with your professional tax advisor for more information.

Review of Protective Life Insurance Niches

One obvious niche is Protective’s awesome pricing. Once again, what else really matters when you are dealing with a top rated life insurance carriers.

We recently had a client come back at the top rate class even though the client’s A1C was 5.7. Many companies would only approve the client at a standard rate class. However, due to other positive factors such as the clients blood work, build, and HDL ratio, Protective bumped the client all the way up to the top rate class. A difference in premiums of 80%!

Another niche is that Protective is a great company for people that would generally be considered overweight for life insurance purposes. Therefore, clients on the heavy side or “big boned” would do well to consider Protective.

West Coast Life Insurance Company

Protective Life acquired West Coast Life Insurance about twenty years ago. If you are looking for West Coast Life, Protective Life is an awesome alternative.

Costco Life Insurance?

You may be wondering what Protective Life Insurance reviews have to do with Costco. If you are one of the many millions of members of Costco you may have received a brochure or advertisement stating that Costco Wholesale now offers life insurance.

What you may or may not be surprised to know is that “Costco Life Insurance” does not actually issue the life insurance. Instead, Costco has teamed up with Protective Life. Being that Costco is the low priced leader in so many areas already, it makes sense that Costco partnered with Protective Life, the low price leader in life insurance. But note that Costco does not offer the income provider rider mentioned above.

Therefore, Costco Wholesale Life Insurance via Protective Life might be the best company out there. Then again, maybe not. That is where TermLife2Go comes in. We can shop dozens of top rated life insurance companies for you and make sure you are going with the best company—for you. Which leads us to our next point…

policy if you want affordable protection that guarantees a level premium and coverage amount for a specified period of time. Plus, it offers the comfort of knowing your premiums won’t suddenly increase after the initial coverage period ends – See more at:
  • Designed to last your lifetime
  • Flexibility to adjust premiums and coverage amount
  • Portion of premiums go into a cash value account that you can borrow from while you’re alive
  • Cash value grows tax-deferred at guaranteed minimum interest rate specified in your policy

– See more at:

  • Designed to last your lifetime
  • Flexibility to adjust premiums and coverage amount
  • Portion of premiums go into a cash value account that you can borrow from while you’re alive
  • Cash value grows tax-deferred at guaranteed minimum interest rate specified in your policy

– See more at:

  • Designed to last your lifetime
  • Flexibility to adjust premiums and coverage amount
  • Portion of premiums go into a cash value account that you can borrow from while you’re alive
  • Cash value grows tax-deferred at guaranteed minimum interest rate specified in your policy

– See more at:

The one drawback to Protective Life

While Protective Life is one of our top ten best life insurance companies in the United States, if we had to point out one drawback in this Protective Life Insurance Company review it would be that Protective is just one of many companies available. What that means is that you need to be careful and not put all your eggs in one basket.

The company’s one major advantage is price but if you have any health issues that Protective does not cater to then chances are you will not qualify for the best rate class. In addition, protective lacks a solid no medical exam life insurance option. Therefore, in these instances, you would be better served going with a different company that is more tailored to you and your needs.


Not all Protective Life Insurance reviews are the same. Most will only talk about the company and leave you, the consumer, wondering what to do next. However, one thing (of many) that sets TermLife2Go apart from the competition is that we have the ability to shop not only the initial quote but also your offer. Therefore, if you are offered a rate class that is inferior to what a competitor would offer, we can shop your lab results to another life insurance company. This saves our clients valuable time and money.

About TermLife2Go

We’re looking for lifetime customers that will recommend their friends and family to us which is why we place customer satisfaction above all else.

So, what are you waiting for?  Give us a call today and see what we can do for you!

 Thank you for reading our article, Protective Life Insurance Reviews. If you have any questions please leave a comment below.

13 comments... add one
  1. abde h.

    I would like to get different quotes for guaranteed permanent universal life insurance. please let me know what you need from me thank you very much

  2. Shannon Z

    Please send me information on preferred plus insurance. I am a 52 year old healthy female who lives a healthy lifestyle. I do not smoke nor drink. I haven’t had any surgeries other than my children, four. I do have migraines but they are under control by my doctor. I am looking for insurance to one cover my burial upon my death and two leave my children and grandchildren a small nest egg. Thank you.
    Shannon Z.

    • TermLife2Go


      We will have an agent reach out to you so that we can gather a bit more information which will help us provide you with a more accurate quote for the insurance that you’re looking for.



  3. Colva Services

    One Life Insurance policy can help you to secure future of your and yours beloved persons. Your blog tips can help those people who are thinking of buy new policies.

    • TermLife2Go


      Thanks for your response, we’re happy to hear that you think this post can help those currently looking to protect their loved ones.



  4. Sharon Dana

    We applied for Life Insurance with Protective for my husband who has MS. Went through all the hoops for this company only to be declined BECAUSE he has MS and his build. The standard used for his build is crazy, no way could this man be 6′ 3″ and in the weight range they expect. What a waste of time for everyone. Why doesn’t your staff just say that they do not insure people with MS.

    • TermLife2Go

      We would need to ask two questions before we could look into what happened in your situation.

      First, did you husband apply for life insurance using TermLife2Go Insurance Services, or did he simply apply directly with Protective Life Insurance. We here at TermLife2Go DO work with Protective Life Insurance and DO recommend them to many of our clients however, we are NOT Protective Life, the company. Rather, we are an insurance brokerage that works with dozens of highly rated life insurance companies.

      Second, if your husband did apply for Protective Life insurance through TermLife2Go we would need his first name so that we can look up his file.

      Lastly, as a general rule when working with clients who have MS, while finding coverage can be difficult, if your husband’s condition has been stable over that past year (only one or two episodes) coverage may still be possible.
      So… If it turns out that your husband did not apply for life insurance through us, it may be worth giving us a call so that we can “double check” that your husband would not be eligible for insurance with another carrier.



  5. Dane LaVigne

    Protective life is a great company. Don’t hesitate to get life insurance. Just start with something you can afford and if you find another company you like better you can always add coverage. It’s never to early to start with something.

  6. Cynthia Adams

    Please send me pricing and information for a term life insurance policy for a 67 year old, healthy female.
    Thank you.

    • TermLife2Go


      Many variables go into determining what price one will pay for there insurance. For example just to list a few:

      – One’s height and weight,
      – Any current/previous prescription medications,
      – Any current/previous medical conditions,
      – Family history of cancer, heart disease, stroke or diabetes,
      – Etc, etc…

      For this reason, its best to simply give us a call so that we can obtain some additional information prior to determining what rate class you will qualify for.



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