Founded in 1907, headquartered Birmingham, Alabama, Protective Life Insurance … In 2017, Protective Life became a subsidiary of Dai-ichi Life Insurance Company, Ltd, an industry giant located in Japan, which will allow Protective to expand its services on a massive scale. Now Protective Life Insurance Company has over $773.449 billion dollars of life insurance in-force with total revenues of $3.959 billion total annuities of $2.56 million. This type of variable universal life insurance policy is best for someone who: Survivorship life insurance offers life coverage for spouses. While it doesn’t have the breadth of coverage options as other companies, it’s still worth including as you collect quotes from a few different insurers. Below is a sample for a male, 50 years old, 5’ 7”, 160 pounds. Furthermore, Protective Life term and UL products are among the best products in the industry and come with many options … Today, the company has: Approximately 3,000 … Protective Life Insurance Company has very affordable term life insurance policies and they have a unique permanent life insurance policy that allows children and grandparents to receive coverage under the original parental policy. When your coverage expires, it becomes Annual Renewable Term coverage (ART), however, rather than rates increasing, your death benefit decreases, with a minimum value of $10,000. This type of universal life insurance policy is best for someone who: This is Protective's indexed universal life insurance policy, meaning that the growth of your cash value is tied to the performance of an index fund in the stock market. Protective Life offers comprehensive term and permanent life insurance policies, depending on your specific needs and budget. Follow us on social media! Power’s 2019 U.S. Life Insurance Study, The Best Life Insurance Companies in 2020. You will have the flexibility to increase your coverage when you are paying off a mortgage and then increase your premiums when you have more disposable income, and maybe reduce your coverage when you no longer need to provide your loved ones with money for final expenses. This company focuses more heavily on having a good cholesterol to bad cholesterol ratio even if your total number is up to 275. Customer service is one of Protective Life’s strengths. You can choose a term length of 10, 20, or 30 years. Protective Life Insurance Company Review. Protective Life insurance is perfect for people with health conditions, particularly people with a history of heart disease. Quick Summary: Protective Life is a strong company that offers both term and permanent life insurance coverage.Their policies are affordable, and are a great fit for people who are in the preferred health class. It’s a great option for almost everyone, and it’s available in all 50 states. This indicates that you’ll likely have no problems navigating customer service channels, should you need them. We take pains to ensure our site is accurate and up to date, but some information might be different than what you find by visiting a vendor website. Copyright © 2015-2020 SimpleLifeInsure.com – All rights reserved. Written by Ty Stewart - Last Updated February 4, 2020. Life … What is Protective Life Insurance Best For? Let’s begin the review of Protective Life Insurance by taking a look at the products they currently offer. You can find reviews on over 50 companies and agencies here, before making your decision. Protective went public in 1… They are also the 14th largest life insurance provider in the nation with a 1.31 market share. Power’s 2019 U.S. Life Insurance Study, Protective Life received an overall score of three out of five, though it did earn a four out of five in the “interaction” category. Protective Life also allows customers to add riders, or additional coverages, to their policy for circumstances that aren’t covered under a basic term life insurance policy. Protective life insurance offers some of the most competitively priced policies in the country, and with high approval rates — even for people with pre-existing health conditions. Principle Sales Methods: Brokers, Dealers, Independent Agents and Career agents Life … This company is also great for those who use tobacco on an occasional basis. skip to main content. The company currently has over 3,000 employees, with its number of policyholders growing steadily. Protective Life Corporation ranks 278 of 996 in Insurance category. Their policies are affordable, and are a great fit for people who are in the preferred health class. This policy comes with the terminal illness benefit so you can take advantage of accelerated death benefits in your state if you are diagnosed with a terminal illness. Your life insurance cost depends on a number of personal factors, including your age, gender, location, and lifestyle. Read our review and decide for yourself. Also, it is also very involved in the communities in which it serves. Over the last year, she has covered insurance providers, best policies, industry trends and more. How Does Protective Life Insurance Compare to the Competition? For a company of this size with nationwide service, these numbers are low. Protective Life's CEO is Rich Bielen, and the company is based out of Birmingham, Alabama. Protective Life Customer Reviews and Complaints. People who used cigars from time to time will still be placed into the non-smoker category and will not be penalized for occasional tobacco use. We may earn money when you click on our links. Protective Life Insurance Reviews Protective Life Insurance Company offers multiple policies, including a Custom Choice Universal policy that includes aspects of both term and universal life insurance. Their policies are affordable, and are a great fit for people who are in the preferred health class. If you were to lose your job, you might lose that coverage. Protective Life Insurance Company Review. Protective Life Insurance Company is a subsidiary of Protective Life Corporation, which is a financial services company headquartered in Birmingham, Alabama. 213 reviews from Protective Life Insurance employees about Protective Life Insurance culture, salaries, benefits, work-life balance, management, job security, and more. If you anticipate changing financial needs throughout your lifetime this would be a much better option. Protective’s rates are usually 25-40% less than most competitors for someone who has ever had: Protective Life Insurance Review. While Protective Life may not be a household name, they are one of the top life insurance companies in America. About Protective Life Insurance. These includes child protection riders, accelerated death benefit riders, accidental death benefit riders, and disability benefit riders — some of the most important riders we look for in a life insurance policy. If you have ever had any type of bypass surgery, heart attack, or heart disease the premiums you are offered are going to be between 25 and 40% lower than the competitors on average. To get started, fill out a quote request and we'll be in touch soon to help. Based on testimonials, the firm is known for being flexible, as well as for providing dedicated service. Protective Life Insurance Company has some of the best rates in the industry, but is this insurer right for you? Yes, Protective Life requires a medical exam for every policyholder before their application can get approved. Dai-ichi Life is … Protective Life also is very stable with a rich tradition as they’ve been around for over 100 years. How life insurance works. by Caroline Hwang Updated December 17, 2019 . Rates are fixed by your state laws. Elizabeth Rivelli is an insurance writer for Reviews.com. Application … J.D. It became a wholly owned subsidiary of the Dai-ichi Life Insurance Company, Ltd. in 2015. No additional premium is required but there is a small administrative fee to activate. Said applicant has no tobacco use, no familial health issues but has been treated for high blood pressure with a systolic/diastolic rate of 140/90. It was established in 1907 and currently operates in all 50 states. Protective offers a type of joint life insurance called second-to-die life insurance (which is also known as survivorship life). Affordable coverage options with the availability to convert into a permanent Universal Life policy, Very high coverage amounts for those who qualify, up to $50,000,000, Wants permanent life coverage with guaranteed cash value growth, Wants a bit more control over their cash value growth, Is willing to take a bit more risk when it comes to their cash value, Guaranteed minimum gains of 0% to protect in bad market years, Can have more cash value gains in good market years, Is more experienced with investment vehicles, Is open to more risk with their cash value vehicles, Minimum cash value gains of 0% to protect you in bad markets, Are trying to protect their assets in a trust or estate after their deaths â€‹â€‹, Great way for spouses to establish trusts and estates, Cheaper than two life insurance policies for individuals, Affordable life insurance for people with health conditions such as heart disease and high blood pressure, Great selection of permanent life insurance policies such as universal life and indexed universal life, Good coverage options for spouse life insurance, Great discount rates for people with preferred health ratings, Very high coverage amounts up to $50,000,000, Affordable life insurance coverage for people over 50, Not a lot of good term life insurance options. Protective life insurance is a company based out of Birmingham Alabama. We research relentlessly to make your most important decisions Protective operates in all 50 states and they have done so since they were founded in 1907. If you were diagnosed with diabetes or you have high blood sugar you can still receive competitive rates from this company. Founded in Birmingham, Alabama, Protective Life Insurance Company has been in business since 1907. Written by Ty Stewart - Last Updated February 4, 2020. This option allows the policyholder to provide the death benefit of their beneficiary in installments on a yearly basis rather than as one lump sum. This type of permanent life insurance policy is recommended for someone who: Much of this policy is similar to the various Universal policies offered by Protective, with the main difference being the minimum face amount of $100,000. How to get life insurance. Pros and cons of life insurance. Elizabeth has been featured in The Simple Dollar, Bankrate and Coverage.com, among others. She holds a bachelor's degree in Communication Studies from Northeastern University in Boston, MA. Recent recommendations regarding this business are as follows: … 13 with a score of 3.7. To determine if Protective Life could be a good choice for you, try Protective Life’s online quote tool and see how your coverage and premium compares to those from competitors. Protective life insurance is very lenient with cholesterol levels so anyone who has high cholesterol can still apply and get reasonable rates. Protective Life Corporation ranks 278 of 996 in Insurance category. Getting Started. Protective Life Annuity Review. Its customer service is rated highly, and customers can choose to manage their policy online or through a live agent. There’s also an option to convert it to permanent insurance … The future death benefit will be reduced by the amount of accelerated benefits taken. The overall rating of the company is 1.3 and consumers are mostly dissatisfied.. Protective Life Insurance Company Response 07/20/2020 I am writing in response to your email dated July 16, 2020 addressed to Rich B***** regarding the above-referenced consumer. If you have a life insurance policy with Protective Life, its financial ratings suggest that the company is unlikely to go bankrupt or be unable to compensate for your losses. Application process State availability. Subject to stockholder approval, Dai-ichi Life is expected to acquire Protective Life Corporation by the end of 2014. However, the company … This type of life insurance policy is best for couples who: Let's take a look at some Protective life insurance rates for whole life and term life insurance policies. Protective Life offers term, whole, universal, variable universal, and indexed universal life insurance coverage. Variable universal life insurance offered by Protective is also good through age 121, and premiums can be adjusted as needed throughout the life of the policy. With Protective Life, you can expect basic coverage with a few useful add-on options to customize your policy. The Protective Life Insurance Company is a top 20 life insurance company … Expert review. In 1927 the company merged with Alabama National Insurance Company, keeping the Protective name, and began acquiring other companies over the years. Protective Life Customer Reviews and Complaints Protective Life's CEO is Rich Bielen, and the company is based out of Birmingham, Alabama. Now Protective Life Insurance Company has over $773.449 billion dollars of life insurance in-force with total revenues of $3.959 billion total annuities of $2.56 million. Protective would continue this pattern of growth until it expanded into all 50 states in the following few decades. This Protective Life Insurance Company review will help you compare the rates and products that make Protective a popular provider. Protective Life Insurance Company's wide range of products allows drivers to choose the right policies for their needs. Founded in 1907, Protective Life Insurance company’s long and stable history began in Alabama under the supervision of William Dorsey Jelks, the former governor of the state. easier. Every. And if you change jobs, you could have a gap in coverage. Protective Life Insurance Company is known for serving its customers first. Quick Summary: Protective Life is a strong company that offers both term and permanent life insurance coverage. This policy also gives the insured the choice to lock in level premiums through the age of 90, at which point, your premiums will be paid in full and you will no longer have to pay for your policy. Learn more about how we make money. Reviews Of Protective Life Insurance Company - Comparing policy rates by yourself is difficult and seriously long. Protective Life Insurance Company is known for serving its customers first. Haven Life; Banner Life; Prudential Life … According to the Better Business Bureau (BBB), the company has only 63 customer complaints, most of which are related to claims handling and refund issues. Protective life insurance has term policies that provide you with temporary coverage spanning between a policy length of 10 years up to 30 years. The term policy is for 20 years with $500,000 in coverage. Here are some of the other best life insurance companies to consider along with Protective. Qualification requires the diagnosis of a certified medical professional and will apply towards: This rider allows you to waive the premium of your life insurance if you are diagnosed with a terminal or critical illness as described above. Additionally, the company is rated above average for its customer service, which is important when it comes to choosing the right plan. Protective Life Corporation was first mentioned on PissedConsumer on Apr 20, 2016 and since then this brand received 53 reviews.. This is not unusual for a life insuranc… 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. Variable Universal life insurance is designed to allow you to gain cash value through various sub-accounts that are invested in the stock market. In J.D. With an A+ Superior Financial rating from A.M. Best and a 91 Comdex Score, Protective Life … This allows for Protective to keep their premiums very low because they pay out less in benefits in a given year than some other companies, giving them longer to use that money to re-invest. 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