Protective Life Insurance Overview
Protective Life Insurance Co. sells whole life insurance and universal life insurance. There are 4 different options for universal life insurance. Also, this insurance company offers an advantageous universal life insurance policy that has an affordable price.
Take a quick look:
- Protective Life Insurance Company is on the list that we have prepared about the best life insurance companies.
- There are not many consumer complaints about this company.
- Provides term life insurance and four types of universal life policies.
Life Insurance Alternatives From Protective Life
1. Term Life Insurance Policy
The insurer provides 10 to 30-year term life insurance. Coverage ranges from $ 100,000 to $ 50 million. The maximum amount of coverage $10 million for online application.
2. Universal Life Insurance Policy
Low-priced universal life insurance policy
Protective Life Insurance Company has a special universal life insurance policy that you can qualify by paying affordable fees. The price of this product is lower compares with other permanent policies.
If you buy this policy, you will pay a level premium for a particular period, ranging from 10 to 30 years. After this period, You start to pay a fixed price. However, your coverage will simultaneously narrow. The policy doesn’t help to build substantial cash value. It provides limited coverage for elderly people during the life period.
Standard Universal life insurance policy
This policy offers permanent coverage. It is a flexible product. If you want, you can change your coverage. Of course, the premium you pay will change accordingly.
Variable universal life insurance policy
Thanks to this product, you can grow your cash-value account with stock investments.
Survivorship universal life insurance policy
Two people can be insured by purchasing one policy with this life insurance product. Survivorship universal life insurance is ideal for couples. You can provide savings by purchasing only one coverage. Because two separate policies may more expensive. The policy pays out after both insured persons to die. Also, this universal life insurance type is known as joint survivorship or second-to-die life insurance.
3. Whole Life Insurance For Children
This whole life insurance product is named as Protect My Child. It has coverage ranging from $10,000 to $100,000 and valid for children 14 days to 17 years old.
Protective Life Complaints
Over three years, Protective Life had fewer complaints to state regulators than average according to the data from the National Association of Insurance Commissioners.
J.D. POWER Rating And Consideration
According to a study among the 24 life insurance companies by J.D. Power, Protective Life Insurance Company was number 10. Protective Life has rated as average for overall customer satisfaction in the 2019 U.S. Life Insurance Study.
Here is the Protective Life Insurance Review:
|Customer satisfaction category||Protective Life’s score|
|Overall satisfaction||About average|
|Billing and payment||Below average|
|Price||Better than most|
|Policy offerings||Below average|
|Interaction||Better than most|
Other Options From Protective Life Insurance Company
Protective Life provides a few retirement annuities such as immediate, fixed, variable, indexed, and registered index-linked types besides their life insurance products.