Protective Life Insurance Review

Protective life insurance offers highly affordable term and universal policies with various riders – including an accidental death benefit rider and an accelerated death benefit rider for chronic or terminal illness.

Term life policies from this company provide coverage from 10-40 years and can be converted to permanent plans without medical exams. In addition, this company also offers indexed universal and variable universal life policies for long-term investments.

High Financial Strength Ratings

Protective life insurance has earned top ratings for financial strength, meaning it should meet its claim obligations years from now. Companies are assessed using ratings by credit agencies such as AM Best, Fitch and Moody’s to give an indication of their soundness; one factor which should be taken into consideration when purchasing life insurance policies.

AM Best has given Protective an A+ financial strength rating, meaning it is more likely than other companies with lower ratings to meet its ongoing financial obligations. This is crucial when purchasing life insurance policies as long-term contracts; you need assurances that they’ll still be there when the time comes for payment to come through.

Protective life insurance company provides various coverage options, such as term and universal life insurance plans. While term life policies provide coverage for an agreed-upon timeframe, universal plans allow you to adjust both death benefit and premium payments without medical exam requirements. Furthermore, several of their life plans also contain tax-deferred cash values which can provide retirement income or serve other needs.

Protective life insurance offers not only life insurance policies, but also an array of annuities from fixed rate to variable and indexed annuities, along with customizable riders to tailor policies to individual needs.

Some riders include terminal illness protection that provides a lump sum upon diagnosis of chronic, critical or terminal illness; and waiver of premium protection which allows disabled individuals to avoid paying their premiums altogether.

Protective life insurance offers a selection of life insurance policies to meet any need, but did not fare as well in customer service compared to its peers in the 2022 J.D. Power Life Insurance Study, coming 15th out of 21 companies. Furthermore, online quotes are unavailable and purchasing policies requires speaking directly with a representative.

Coverage Options

Protective life insurance offers various life insurance solutions, from term policies to whole and universal life policies, as well as riders that can be added to a policy in order to meet specific needs. They include return of premium riders that will refund premium payments if you outlive your term policy, and terminal illness accelerated death benefit riders that provide early death benefits should terminal illness become evident.

Protective life insurance offers several specialized policies, including child life and disability coverage. Their accelerated underwriting process helps those with preexisting health conditions gain coverage faster, while its user-friendly application makes the entire process less intrusive for applicants. Protective may even issue some policies without needing a medical exam first.

As well as these customized policies, the company boasts various standard policy features that make it competitive in the market – for instance a lower than average complaint index and offering competitive pricing on its products.

Protective life insurance offers an online application for those looking to quickly obtain life insurance policies, making the application process quick and painless – typically within just days!

Financial strength ratings from two major credit rating agencies indicate that this insurer can pay out claims. This is especially crucial when purchasing term life policies to cover debts or expenses upon death.

Classic Choice Term offers term life insurance policies from 10-40 years in length, as well as offering whole life and seven universal life policies – such as indexed universal and variable universal options – with annual premium payments to provide lifetime protection and earn interest at the same time. However, any loans taken against it could reduce its death benefit payments.

Customer Service

Protective life insurance offers its policyholders access to their account information, track claims and update addresses or change beneficiaries online via its customer portal. In addition, Protective offers educational materials, coverage calculators and other tools to help consumers better understand their options; in addition to offering discounted term life insurance rates to Costco members.

Protective life insurance is known for providing excellent customer service and helping individuals attain safety and security in their lives. Their employees are dedicated to fulfilling all promises made to customers, partners, colleagues and the community – an approach Dai-ichi Life Holdings employs more than 3,700 staffers as its subsidiary company.

Life Insurance Services Group Inc offers an impressive variety of policies designed to fit most needs, and its website is easily navigable. Established over 115 years ago and boasting an exceptional financial rating, this long-established firm stands the test of time due to its commitment to doing right by its customers and long-term focus. This approach has contributed greatly to their success.

Protective life insurance offers more than products and helpful online resources; it also offers additional services that can assist in managing your finances effectively, such as an estate planning tool and retirement calculator to help plan for the future. It offers long-term care insurance and disability income coverage.

Protective Life offers more individual policy options than Guardian; for instance, nine vs eight policies respectively and more riders than Guardian are available from Protective.

Both companies enforce age restrictions for their life insurance policies; however, Protective’s age restrictions are slightly higher than Guardian’s; specifically, Protective offers universal life policies with age caps of 85 while Guardian whole life policies offer up to 90.

Protective life insurance has earned high customer ratings and few complaints to state regulators compared to other insurance companies its size. Their claims department is known for being responsive and efficient. Their website is user-friendly with an extensive FAQ section; furthermore they provide multiple ways for customers to contact a representative such as email and live chat.

Cost

Costs associated with protective life insurance depend on both policy type and age; term policies tend to be less costly than whole or universal life policies, according to Bankrate’s life insurance calculator. You should use customer satisfaction ratings and any complaints about a company to get an accurate idea of your specific costs; but using such tools only gives an incomplete view.

Financial ratings of a company are an indicator of its stability and reliability, such as Protective Life’s A+ rating with AM Best, which indicates they should remain around for an extended period. But other indicators should also be taken into consideration such as complaints received and satisfaction score average.

Protective Insurance Company was established in 1907 and currently holds over $252 billion of life and annuity policies as of 2012. They specialize in life and annuity products and offer numerous tools that make their products user-friendly, such as online quotes and coverage calculators. Protective is also well-known for their simplified underwriting process that may bypass medical exams for some applicants; making this an excellent option for those with health conditions or those looking to skip an exam altogether.

Protective offers a comprehensive selection of life insurance policies, as well as various riders that provide extra protection and value. Their Lapse Protection rider ensures your policy won’t lapse even if the cash value drops to zero; while their Terminal Illness Accelerated Death Benefit rider pays out lump sum benefits should you become diagnosed with terminal illness that precludes work.

Protective has numerous universal and variable life insurance policies designed to grow with your investments, from index universal life policies that track stock market indices’ performance to Strategic Objectives II VUL policies that allow premium payments to be allocated across various investment options – these policies could potentially increase cash value faster than similar products on the market.

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