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Not rated Bankrate Score Home 0.0 Auto 0.0 About Bankrate Score Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Protective Life offers a variety of life insurance policies and riders for added coverage and also offers policies up to relatively high coverage limits. However, every life insurance policy from Protective Life requires a medical exam. Pros and Cons Quick Look Pros Several types of life insurance available High potential coverage limits for some policies Lots of riders Cons Medical exams are required Below-average J.D. Power customer satisfaction rating Online quotes for term life only High coverage limits Medical exams required Numerous riders available has been in business for more than 110 years and is headquartered in Birmingham, Alabama. There are no eligibility requirements and coverage is available in every state except New York. Overall, our assessment is that Protective Life is a good life insurance provider, offering multiple policies, helpful online resources, like coverage calculators and varying . However, all of Protective Life's policies require a medical exam. If you are looking to avoid a medical exam due to pre-existing conditions, there are many other providers that use simplified underwriting and health questionnaires in place of a traditional exam. In addition, Protective Life is rated below-average by J.D. Power, which is something to consider when comparing providers based on customer satisfaction. This advertising widget is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate. The offers and clickable links that appear on this advertisement are from companies that compensate Homeinsurance.com LLC in different ways. The compensation received and other factors, such as your location, may impact what ads and links appear, and how, where, and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available to you as a consumer. We strive to keep our information accurate and up-to-date, but some information may not be current. Your actual offer terms from an advertiser may be different than the offer terms on this widget. All offers may be subject to additional terms and conditions of the advertiser. Compare life insurance providers quickly and easily
See which provider is right for you. The amount of coverage you need depends on many factors, including your age, income, mortgage and other debts and anticipated funeral expenses. Whole life insurance combines life insurance with an investment component. Coverage for life Tax-deferred savings benefit if premiums are paid 3 variations of permanent insurance: whole life, universal life and variable life include investment component Term life insurance is precisely what the name implies: an insurance policy that is good for a specific term of time. Fixed premium over term No savings benefits Outliving policy or policy cancellation results in no money back Find matches Powered by HomeInsurance.com (NPN: 8781838) This advertising widget is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate. HomeInsurance.com LLC services are only available in states where it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. Bankrate Why Lemonade? It's a fresh twist on life insurance: easy, accessible and affordable. See more providers in Choose from insurers in Show More
Protective Life insurance coverage types
Protective Life offers three -term life, whole life and universal life. There are no policies available. Every policy requires a medical exam, and online quotes are only available for term life policies. However, one of the standout features of Protective Life is that the company offers potentially high coverage limits, which some other providers don't offer. The company also has many riders, including a child's term rider, guaranteed insurability rider, waiver of premium rider and accidental death benefit rider. Here is a closer look at the types of life insurance available through Protective Life: : from Protective Life is available in term lengths of 10 – 40 years. Coverage is available between $100,000 – $50 million, and you have the option to convert your term policy into permanent coverage without taking another medical exam. In addition, every term life policy includes a free terminal illness rider. : Protective Life's permanent life insurance offerings include , variable universal life and indexed universal life insurance. These policies provide lifetime protection as long as your premium is paid (in most cases) and build cash value. Whole life insurance has level premiums and a guaranteed death benefit (with rare exceptions), whereas universal life policies have flexible premiums and death benefits that can be changed based on your needs. Protective Life also offers a policy called Protective Custom Choice Universal Life, which allows you to choose your own coverage limit and get coverage over a period of 10 – 30 years, similar to term life insurance. Protective Life services
Protective Life has several non-insurance financial services that you may want to consider, including commercial mortgages, structured settlements and affordable assets protection services. Other Protective Life perks worth considering
Protective Life does not offer other types of insurance, but it does provide a handful of retirement products in the form of annuities. With an , the customer pays a fixed premium, and the insurance company guarantees them a lump sum or series of payments to provide an income later in life. Protective Life offers the following types of annuities: : Protective Life’s fixed annuities come with a fixed premium throughout the policy’s life, followed by a guaranteed income stream during retirement. Immediate annuities: In the case of an immediate annuity, customers begin receiving their payments shortly after purchasing the plan. Indexed annuities: This type of annuity tracks a specific market index but limits your risk by guaranteeing a minimum interest rate return. Variable annuities: Unlike indexed annuities, variable annuities come with a wide variety of investment options. They come with a higher risk in exchange for the chance of a higher return. Protective Life insurance customer and claims satisfaction
During our Protective Life insurance review, we found that customer ratings are mixed. According to the (NAIC), Protective Life has fewer than average complaints for individual life insurance. Protective Life received a complaint index of .21, which is lower than the industry average rating of 1.0. When it comes to overall customer satisfaction, however, Protective Life falls below average. The company was ranked 16th out of 21 providers for overall customer satisfaction in . On the positive side, AM Best gives Protective Life a grade of A+ (Superior) for financial strength. This rating should give policyholders confidence that Protective Life has a history of honoring its claims based on their history of financial stability. Protective Life corporate sustainability
Protective Life gives back to the community through . The foundation donates money to a variety of organizations, including non-profits that are committed to quality of life, the environment, arts and culture and others. In 2019, The Protective Life Foundation donated to 277 organizations and employees volunteered a collective 1,000 hours to these charities. Not sure if Protective Life is right for you Consider these alternatives
If you are shopping for life insurance, Protective Life is a good provider to consider. However, there are several other providers that could be a better fit. Here are several alternatives to look into: : Guardian Life offers term, whole and universal life insurance, with more than a dozen riders for added protection. : Pacific Life sells robust life insurance policies, including a policy that combines life insurance and long-term care insurance. Pacific Life also offers many other retirement solutions. : Globe Life has several policies available, including and final expense insurance. On This Page
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