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Life Insurance

Protective Life Insurance Review

By David Krug 5 minute read

This Protective Life Insurance Review may assist you in making an educated decision about. Protective Life Insurance has some of the most economical policies in the country, as well as a high acceptance rate for those with medical conditions. Protective Life Insurance Company is a wholly owned subsidiary of Protective Financial Services Corporation.

Additionally, it is one of the few organizations that offers fixed-rate term life insurance for a duration of 40 years or more. Ex-smokers face extra limitations and a six-week waiting period.

If you want insurance that does not need an instant medical assessment, you must go elsewhere. Protective is an excellent option for those seeking low interest rates or long-term financing.

Protective life insurance rates

Protective Life 2021 rates were used to estimate the average cost of a $500,000, 20-year term life insurance policy for a healthy man and woman. There is considerable competition in the market for plans of this size and duration, and premiums are significantly lower than the national average until retirement age.

Protective Life Insurance Review - Protective Insurance Company Logo
  • Age 20. Male $19.07, Female $16.18
  • Age 25. Male $19.08, Female $16.20
  • Age 30. Male $19.75, Female $16.57
  • Age 35. Male $22.31, Female $18.89
  • Age 40. Male $32.19, Female $26.91
  • Age 45. Male $50.52, Female $40.01
  • Age 50. Male $77.38, Female $60.26
  • Age 55. Male $126.93, Female $93.05
  • Age 60. Male $230.38, Female $159.40
  • Age 65. Male $481.10, Female $371.13

Factors that affect your rate with Protective

Only those clients who fulfill stringent underwriting criteria are eligible for Protective’s best pricing, which include the following:

  • The blood pressure reading. Between the ages of 60 and 70, it is advised that one’s blood pressure be between 135 and 140/85.
  • Cholesterol. If your good-to-bad cholesterol ratio is more than 275, you may be eligible for a reduction on the $1,500 normal charge for the Protective program.
  • Individuals’ motivations are influenced by their public image. Individuals who have recently been convicted of a DWI, DUI, or suspension, as well as those who have been convicted of more than two driving infractions in the preceding three years, are not eligible for preferential pricing.
  • This is our forebears’ and foremothers’ story: If a person dies before reaching the age of 60 and has no family history of cancer, heart disease, or cardiac abnormalities, they may qualify for lower insurance rates.
  • Cigarette or alcoholic beverage usage or abuse. Individuals who have not smoked in five years and have no history of substance misuse qualify for the highest savings at Protective, which allows for six celebration cigars.

Authorization has been granted for protective measures. Between the ages of 60 and 70, it is advised that one’s blood pressure be between 135 and 140/85.

How to get a quote from Protective life insurance

When you get term life insurance, you will be denied telephone support, which is uncommon for this sort of insurance.

  1. Visit our website to learn more about Protective Life’s products and services.
  2. Simply move your mouse over Term Life Insurance on the upper ribbon. By selecting the “Get A Quotation” button, you may acquire a term life insurance quote.
  3. Your state of residence, date of birth, gender, the amount of coverage you have, the plan you have, your height, weight, and health status, as well as whether you currently smoke, are all necessary. To obtain a cost estimate, click the Get a quotation today option.
  4. To apply, simply click the Apply Now button next to the choice that best fits your needs.
  5. Protect may be reached at 844-733-5433.

Protective may continue to underwrite your application for up to six weeks following its submission. An insurance provider will seldom approve a claim that has been outstanding for more than four weeks.

Insurance coverage will commence upon acceptance of your application, and you will be able to create an online account upon acceptance.

Protective offers term and permanent life

Permanent life insurance policies are provided solely via Protective and cannot be purchased from any other provider. There are several packages equivalent to this one:

  • Term life insurance. Coverage lengths might range from $100,000 to $5 million dollars, depending on the choice selected. Premiums are fixed, and coverage can be raised to permanent status without undergoing a medical examination.
  • Life insurance with a variable premium. Additionally, this insurance provides financial benefits through prudent investment choices in addition to providing lifelong coverage. Once your insurance policy has accumulated a specific level of cash value, you can adjust your premiums and borrow against the value.
  • Universal. Protective provides three separate types of universal life insurance: customized universal life, variable universal life, and indexed universal life. Customized universal life insurance is the least expensive of the three alternatives. There are two critical distinctions between investments and insurance coverage alternatives. Each of these plans has a monetary value, premiums may be modified, and each includes a death benefit.

Protective life insurance add-ons

You may further personalize your insurance policy by selecting one or more of the following options:

  • Riders who are compensated more swiftly in the event of death. Patients may be eligible for an early payment if they are diagnosed with a chronic, severe, or terminal disease.
  • Accidental death insurance is a supplemental policy. Your beneficiary will get an additional death benefit if you die in a car accident.
  • Riders under the age of eighteen are not permitted. Children are automatically protected with this policy, and no additional coverage is required.
  • As an add-on, supplemental disability income is offered. It is calculated as a percentage of the policy’s value in the event you become completely incapacitated and unable to work, which is the monthly benefit payable under your insurance policy.
  • A rider is an endorsement to your insurance policy that provides additional protection. You may enhance your life insurance coverage without first providing medical information.
  • You may add a rider to your homeowners insurance policy that will cover dental and eye treatment. Purchase additional term life insurance to augment your existing policy and, as described previously, you will get additional coverage for a certain period of time.
  • Riders agree to pay a fee that is less than that quoted to them. You will be charged for your insurance premiums.

Protective life insurance reviews are mixed

Despite the fact that this business is not BBB recognized, the Better Business Bureau (BBB) has given it an A+ rating, indicating that its customers are happy with its services. Protective was prompt in responding to consumer concerns regarding billing and communication difficulties.

How Protective compares to other insurers

It is the world’s first policy of its sort, and no other universal or variable life insurance policy comes close to Protective Life’s 40-year term life insurance policy.

If your health improves within a year of enrolling in coverage, your premium may be reduced. This, however, is not assured. Many businesses are less empathetic than the federal government when it comes to employee health problems.

Additionally, a healthy 30-year-old male would pay $19 per month for a Protective $500,000 term insurance policy that would last 20 years and cover $500,000 in coverage, based on our projections. Insurance for the same person for $250,000 over a 20-year term costs an average of $17 per month. On the other hand, the insurance approval procedure will take three to four weeks.