Protective Life Insurance Review [2024]

Protective Life Insurance is a subsidiary of Protective Life Corporation, based in Birmingham, Alabama. Founded in 1907, it made its very first death claim in 1909. Today, Protective Life’s employees number over 3,000, its assets surpass $100 billion, and annual revenues bring in $6 billion.

In addition to selling term and permanent life insurance and annuities, the company is prominently displayed on Protective Stadium, the 47,000-seat home of the NCAA Division I University of Alabama at Birmingham Blazers, which Protective Life was instrumental in helping construct. Is protective life insurance good? Read this Protective life insurance review to learn more.

What You Should Know About Protective Insurance Company

Protective Life Insurance company is a subsidiary of Protective Life Corporation based in Birmingham, AL. This financial services company owns other insurance subsidiaries across the U.S., from California to New Hampshire. As a result, people in every U.S. state can purchase life insurance from Protective Life.

For those seeking life insurance in Birmingham, AL, Protective Life Insurance offers local expertise backed by a nationwide presence, providing tailored solutions to meet the needs of Alabama residents.

The company’s customer service contact number is 1 (800) 866-9933. Protective Life Corporation headquarters is at 2801 US-280, Birmingham, AL 35223.

Insights into Protective Life Insurance

When evaluating life insurance options, it’s essential to consider various aspects such as ratings, reviews, and user experiences. Protective Life Insurance ratings provide a reliable measure of the company’s financial stability and overall performance. While these ratings are generally positive, it’s also important to be aware of common complaints about Protective life insurance to get a balanced perspective on customer satisfaction.

Reviews of Protective Life Insurance offer detailed accounts of policyholder experiences, helping potential customers make informed decisions. For existing policyholders, effective policy management is essential. Through the myprotective.com login, users can conveniently handle their “my Protective life insurance,” review policy details, make payments, and access various important services.

To manage your policy with ease, your Protective life insurance provides a convenient online portal where you can access and update your Protective life insurance account anytime.

Protective Life Insurance Ratings

Protective Life Insurance is rated “A+,” the 2nd highest rating by A.M. Best. It also scores high with Standard and Poor’s, Fitch, and Moody’s.

Protective Life Corporation’s other insurance subsidiaries also score highly, further

demonstrating their place in the insurance market as a regional insurance powerhouse.

Protective Life Insurance Customer Reviews

The number of consumer complaints that various insurers receive is tracked by the National Association of Insurance Commissioners (NAIC), which then uses that data to compile a complaint index.

A company that received more complaints than anticipated has a score above 1.0. On average, the complaint index for Protective Life was 0.79, indicating that the company received fewer complaints than other insurers its size.

Protective Life, however, performs below average in terms of overall customer satisfaction. According to J.D. Power’s U.S. Life Insurance Study, the company came in 16th place overall among 21 providers in terms of claims and coverage.

Although unaccredited by the Better Business Bureau (BBB), Protective Life receives an “A+.” As visible on the BBB website, Protective Life company representatives actively reply to customer complaints while promptly and transparently addressing disputes. (For more information, read our “How to File a Complaint Against a Life Insurance Company“).

Comprehensive Reviews and Ratings of Life Insurance Companies

When considering life insurance options, understanding customer feedback and company ratings is crucial. Reviews and complaints about Colonial life provide insight into policyholder experiences, while specific reviews of Colonial life short-term disability insurance shed light on this particular coverage. Similarly, Costco Protective life insurance reviews highlight the pros and cons of policies offered through this retailer.

Assessing company ratings is also vital. The AM Best rating for First Protective Insurance Company, along with the overall rating of First Protective Insurance Company, provides a measure of the company’s financial stability. In this regard, the First Protective insurance company rating and the broader first protective insurance rating are key indicators for potential policyholders.

Furthermore, Lincoln insurance agency reviews and reviews of Lincoln Level Advantage provide comprehensive perspectives on these well-known providers, assisting consumers in making well-rounded decisions about their life insurance needs.

Protective Insurance Company Insurance Coverage Options

Protective insurance offers the following types of life insurance — term life, permanent life, universal life, and variable and indexed universal life.

Your personal and financial needs will determine what kind of life insurance you need, so learn more about the types of Protect Life insurance below.

Term Life

This life insurance offers financial security for a predetermined period, often 10 to 40 years. Benefits range from $100,000 to $50,000,000 and are frequently used when you believe your family’s future insurance needs will decline. Calculate your term life insurance needs.

Unlike permanent life insurance, which is typically more expensive, term life doesn’t accrue cash value. Plan ahead for the conclusion of your coverage time because premiums may rise after your original coverage period expires.

Whole/Permanent Life

As long as you continue making your payments on time, permanent or whole life insurance has the advantage of lasting protection. Even while whole life insurance rates are more expensive than term life, permanent policies build cash value at a predetermined, stable rate.

Additionally, whole life insurance policies allow you to borrow against your cash value for upcoming expenses. However, keep in mind that unpaid loans would lower the policy’s cash value and death benefit amount. Learn more about permanent life insurance.

Universal Life

While whole life insurance and other traditional permanent life insurance policies share many of the same advantages, universal life insurance is more flexible. For example, it lets you adjust your premiums and coverage as your needs change.

This means that, depending on variables like the premium you have paid into the policy, its cash value, and any policy loans or withdrawals you may have made, you could increase, decrease, or even skip a payment. This can be a wise choice when financial needs change after retirement.

You can’t change the flat life insurance rates on a traditional whole life insurance policy, but you might be able to change your premiums for universal life insurance, depending on the kind of policy you buy.

With this extra flexibility, you can get the necessary life insurance coverage while having more control over several crucial aspects of your policy. Learn more about the differences between whole vs. universal life insurance.

Variable Universal Life

With variable universal life, a portion of your premium is distributed among the available investment possibilities based on your risk tolerance and objectives.

The flexibility to select different investment options, the potential for cash value growth, tax deferment, and higher risk distinguish variable universal life from other varieties of universal life. Compare the pros and cons of variable life insurance here.

Indexed Universal Life

Indexed universal life insurance (IUL) can be a good strategy for giving your loved ones the security of a permanent life insurance policy, as well as the chance to increase and safeguard its cash value.

IUL policy payments can generate interest and increase your policy’s cash value, just like premium payments made for other kinds of permanent life insurance. But what distinguishes IUL is how interest is added to your policy.

In addition to providing a traditional declared interest rate, IUL also provides the chance to earn interest tied to the performance of a particular choice of market indices, such as the S&P 500, Dow Jones Industrial Average, or Nasdaq-100.

Your cash value increases more quickly in good market conditions for the linked index. In contrast, if the index doesn’t perform well, your cash value will grow more slowly or not at all.

These funds grow tax-deferred and may be used to pay insurance premiums. As long as the minimum premium payment is made, you can reduce or even stop paying out-of-pocket premiums using the funds credited to the cash value of your IUL.

This is because borrowing against the policy’s cash value over time is also an option. With IUL, the policyholder chooses how much money will go into the fixed and indexed accounts.

The Bottom Line: Protective Life Insurance

Protective Life Insurance is a company worth checking out if you’re in the market for a term or whole life insurance policy. Protective Life ticks all the insurance industry boxes for a solid company — its complaint level is relatively low, and it offers some of the cheapest life insurance rates in the country.

Uniquely, Protective Life offers longer term life insurance (up to 40 years) at competitive rates. Start comparing Protective Life Insurance quotes today with our comparison tool below. Enter your ZIP code and compare the best companies.

Protective Insurance Company Insurance Rates Breakdown

Protective offers very affordable life insurance rates for policyholders 55 years or younger. Life insurance quotes go up as you get older, so it’s best to buy coverage before retirement age.

Use this table to understand the average term life insurance rates by age:

Term Life Insurance Monthly Rate By Age & Gender

Protective either had the most affordable types of term life insurance or tied for the most affordable in each age group.

How do Protective Life Insurance quotes compare to competitors?

Protective Life provides several ways to affordably obtain a life insurance policy, regardless of age group or income level.

Life Insurance Monthly Rates & A.M. Best Ratings by Provider

Their other closest competitors in terms of price are Lincoln Insurance, American General, and Principal Insurance. Also, see how they compare to New York Life Insurance.

Read more: Guardian Life Insurance Review

Comprehensive Guide to Protective Insurance

Protective Insurance: Overview and Services

Protective Insurance offers a wide range of insurance products tailored to meet various customer needs. This includes Protective car insurance, Protective health insurance, and Protective choice insurance. Their services extend beyond standard policies to specialized options like Protective Extended Warranty and Protective Annuities.

Reviews and Ratings

Reviews of Protective Insurance Company

Understanding customer experiences is crucial for prospective clients. Reviews of Protective Insurance Company and reviews of Protective life & annuity insurance provide valuable insights into the quality of service and reliability of the company’s products. Additionally, Reviews of Protective Annuities highlight specific experiences related to their annuity products.

Ratings and Recognition

The AM Best rating for Protective Insurance Company is an important indicator of the company’s financial strength and stability. Prospective customers can rely on these ratings when evaluating their insurance options.

Protective Customer Service and Claims

Contact Information

For assistance, customers can reach out to Protective Insurance via various channels. The phone number for Protective insurance claims and the phone number for Protective Insurance Company are essential for reporting claims and general inquiries. Customer service for Protective Insurance ensures that policyholders receive timely and effective support.

Claims Process

Protective auto insurance claims and Protective insurance through Costco are streamlined to provide efficient service. Customers can expect a straightforward process when filing claims, ensuring minimal disruption and quick resolution.

Specialized Insurance Services

Protective Insurance Agency and Corporation

The Protective Insurance Agency offers a diverse range of products, including Protective Industrial Insurance Company services. Protective Insurance Corporation, headquartered in a central location, oversees these operations, ensuring consistency and quality across all offerings.

Additional Services

Extended Warranties and Health Insurance

Reviews of Protective Extended Warranty provide insights into the benefits and reliability of their extended warranty services. Moreover, Protective Health Insurance caters to the medical coverage needs of individuals and families, offering comprehensive plans to ensure health and well-being.

Steps to Access Protective Insurance Services

1. Visit the Website: Go to the official Protective Insurance website.
2. Contact Customer Service: Use the provided phone numbers for specific inquiries or claims.
3. Read Reviews and Ratings: Check online reviews and AM Best ratings to gauge service quality.
4. File Claims: Follow the streamlined process for filing Protective auto insurance claims or other policy claims.
5. Explore Specialized Services: Look into Protective Annuities, Health Insurance, and Extended Warranties for additional coverage options.

To manage your policy or make payments, you can easily pay Protective Life Insurance online. For any inquiries or assistance, including issues related to your account, you can contact the company using the phone number for Protective Life Insurance Company.

Overview of Protective Insurance Services

When navigating payment options for Protective Life Insurance, you can rely on various solutions provided by the company. It’s also useful to know the phone number of Protective Life Insurance for any inquiries or issues related to payments and account management. For those interested in modern policy options, reviews of LadderLife insurance offer valuable information on this innovative provider. Location-specific feedback, such as life insurance in Birmingham, helps local consumers make informed decisions. Additionally, understanding the specifics of Protective Life Insurance, often referred to as life insurance protective, can guide prospective buyers.

Types of Insurance Offered by Protective

• Protective Choice Insurance: A versatile option that may include various types of coverage under one policy.
• Protective Insurance through Costco: A special offering available for Costco members, providing potential discounts and tailored coverage options.
• Protective Health Insurance: Coverage designed to address health-related needs, offering a range of benefits and plans.
• Protective Industrial Insurance Company: Provides specialized insurance products for industrial sectors and businesses.
• Protective Insurance Agency: An agency offering a range of Protective Insurance products and services.

Customer Feedback and Reviews

• Reviews of Protective Annuities: Insights into the company’s annuity products and customer satisfaction.
• Reviews of Protective Extended Warranty: Feedback on the extended warranty services provided by Protective.
• Reviews of Protective Insurance Company: General reviews about the company’s overall service and products.
• Reviews of Protective Life & Annuity Insurance: Specific reviews focusing on life and annuity insurance policies.

Claims and Customer Service

• Protective Auto Insurance Claims: Procedures and experiences related to filing claims for auto insurance.
• Protective insurance claims phone number: The contact number for assistance with insurance claims.
• Protective Customer Service: The service provided to assist customers with their insurance needs.
• Customer Service for Protective Insurance: Specific details on how to get help and support from Protective Insurance.
• Phone number for Protective Insurance Company: General contact number for various inquiries.

Company Ratings and Recognition

• A.M. Best rating for Protective Insurance Company: The financial strength rating given by A.M. Best, reflecting the company’s stability and reliability.
• Protective Insurance Corporation: The official name and corporate identity of the insurance provider.

For more details or to address any concerns, customers can use the Protective insurance phone number to get in touch with the company directly.

Protective Insurance Company Discounts Available

Most life insurance companies don’t offer discounts, but Protective Life customers can take advantage of the following savings:

• Policy rider discount. Also known as special endorsements and policy riders, these elements can be used to strengthen a policy or address particular needs.
• First-to-die insurance discount. This offering simultaneously covers the lives of two people. The death benefit of the policy, which can be significant, is paid to the surviving party if one person passes away.
• Early-in-life buying discount. The younger you are when you buy a policy, the less expensive it will be.
• Healthy lifestyle discounts. Maintaining a healthy diet to manage blood pressure, cholesterol, and weight can lead to significant savings.

Discounts are sometimes referred to as riders depending on where you live and the company you choose. Always ask before buying a policy if you’re unsure of a discount.

Does Protective Life Insurance offer riders?

Life insurance riders provide additional protection for unique circumstances or can extend coverage to children or dependents.

Protective Life Insurance offers the following riders:

• Accidental Death Benefit Rider. Pays an additional amount if death occurs in an accident during the term
• Child Life Insurance Rider. Offers life insurance coverage under your policy to someone aged 18-25.
• Disability Rider. If, while insured, you become disabled, you can receive a portion of your benefit every month.
• Guaranteed Insurability Rider. The guaranteed insurability (GI) rider, available on some life insurance policies, enables you to add more coverage at predetermined future dates (subject to minimums and maximums) without having to undergo a medical exam or respond to health-related questions.
• Lapse Protection Rider. Protective provides a Lapse Protection rider so that the policy will not lapse even if there are periods of no or little cash value accumulation, even if the cash value is zero.
• Overloan Protection Rider. This rider guards you against lapse if you borrow or withdraw money from your life insurance policy and your surrender value is insufficient to pay the monthly premiums.
• Return of Premium Rider. This rider, which reimburses your premium payments if you outlive your term life insurance policy, is available for Protective’s term life insurance plans.
• Terminal Illness Accelerated Death Benefit Rider. This rider provides an accelerated death benefit in the event of a terminal diagnosis, allowing you to spend the funds for immediate expenses.
• Waiver of Premium Rider. If you become disabled and cannot work, Protective’s Waiver of Premium rider lets you stop paying insurance premiums temporarily. Your life insurance policy will still remain in effect.

These riders are intended to keep policyholders insured, even if a temporary loss of income or other stipulation might result in a lapse of coverage.

Overall, Protective Life insurance is a top pick for life insurance. Just be aware of the underlying assets on any variable universal life insurance policy and the cap on guaranteed asset protection riders.

How to File Protective Life Insurance Claims

Start a Protective Life insurance claim online with the policy number and the last name of the deceased. You will likely need a copy of the death certificate as well.

You can also start a claim by calling 1-800-424-1592.

Claim payments for life insurance and annuities are made after the company confirms that you are the legitimate beneficiary.