Protective Life Insurance Review

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  • Protective Life Insurance has provided life insurance and retirement annuities since 1907. Learn about whether its coverage options are right for you.

While Protective Life Insurance may not be the most well-known life insurance company, it’s one you might want to consider when shopping for coverage. It offers a handful of life insurance policies with high coverage limits, and on top of this, customers can customize their policies with Protective’s variety of long-term care riders.

About Protective Life Insurance

Founded in 1907, Protective Life Insurance has protected its clients through life insurance, asset protection and retirement products for the past 115 years. Based on the belief that everyone deserves a sense of security and freedom, Protective says it's committed to providing you with the coverage that best fits your life. In fact, Protective unveiled its new brand in 2021 with a renewed dedication to putting people first.

What Life Insurance Products Does Protective Offer?

Term Life Insurance

With this kind of policy, the premium is guaranteed to be the same for a given period of time (typically coverage is available in term lengths ranging from 10 to 40 years). Your premiums stay the same throughout the term that you agree to.

However, the longer the term, the higher your premium may be. Once the term is up, you can typically choose to re-enroll in the life insurance policy or purchase another one.

Whole Life Insurance

Whole life insurance can add support to your retirement budget with certain benefits. When you pay your premium, a certain percentage of your payment goes into a tax-deferred savings component, thus increasing the cash value of your policy. Once you’ve accumulated a certain cash value, you can access the money via withdrawals or a loan against the value. Much like with term coverage, you can keep your monthly premium payment the same throughout the duration of your coverage. However, one of the best things you can do to increase your policy’s cash value at a rapid rate is to pay more than the bare minimum. Excess funds from premium payments go straight into the cash value.

Universal Life Insurance

Universal policies are based purely on cash value. If you have cash value in the policy and are unable to make a premium payment, it's deducted from your policy’s cash value. This makes universal coverage flexible and a potentially great way to collect interest on the cash value of your policy.

On top of this, the death benefit amount can be adjusted without having to nix your existing policy altogether. This does, however, come with more fiscal responsibility to the enrollee. In a whole life policy, the death benefit is guaranteed as long as premium payments are made consistently. But  a universal policy will lapse if the policy’s cash value or premium payments aren’t enough to cover your insurance costs.

Retirement Annuities

You protect your home, car and even your life with insurance — but what about your retirement income? Protective’s retirement annuities can act as retirement investment vehicles that can offer benefits such as tax-deferred growth and guarantee a lifetime income and death benefit. Protective offers several types of annuities (immediate, fixed, indexed and variable) and can help you determine what type is right for you.

Pros and Cons of Protective


  • Many long-term care riders available for policy customization
  • Flexible universal life insurance options
  • Coverage available nationwide
  • Affordable term life insurance


  • No option to buy coverage online
  • Because Protective isn’t a mutual company, policyholders don’t have opportunities to receive dividends

Protective Life Insurance Reviews: What People are Saying

Protective has a lower-than-average number of complaints per the National Association of Insurance Commissioners (NAIC) Company Complaint Index, and AM Best rates Protective with an A+. However, Protective scored a below average 754 in J.D. Power’s 2020 U.S. Life Insurance Study. Whether or not reviewers are happy with Protective Life Insurance does seem to depend on if the products offered are a good fit for them.

Is a Protective Life Insurance Policy Right for You?

If you're looking for flexible coverage you can customize to meet your financial needs and goals, Protect Life Insurance is worth considering. 

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