However, it comes with the added benefit of earning cash value at a set and fixed rate. During that year, it paid claims amounting to more than $6.2 billion. Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. All rights reserved. Protective offers whole life insurance policies with fixed monthly premiums, a fixed interest rate, and tax-deferred growth. Protective features. Protective Life Insurance has a rating of A+ (Superior) with A.M. Best and AA- with Standard & Poor's. This is not unusual for a life insurance company since they do not pay out claims the same way a car or home insurance company w… When evaluating rates, please verify directly with your insurance company or agent. Education. This, in turn, has led to a lot of life insurance carriers having received a negative outlook rating. It’s also a reliable sign that the insurer delivers quality services, as it won’t be in business for that long if it didn’t. Protective Life was founded in 1907 in Birmingham, Alabama. Dai-ichi Life is headquartered in Tokyo and is listed on the Tokyo Stock Exchange. Best & Cheapest, What is Mortgage Life Insurance? Protective Life Insurance Corporation has been around since 1907. Did you know that the US is home to almost 6,000 different insurance companies? It’s also a reliable sign that the insurer delivers quality services, as it won’t be in business for that long if it didn’t. Licensed Life Insurance Agent. Our life insurance industry partnerships don’t influence our content. Granted, most life insurance companies do require medical exams prior to application approval. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. Additionally, the … Term life insurance from Protective offers terms of between 10 and up to 40 years. This is where we try and help, by giving you an honest review. Term life insurance is the type of policy that comes with an expiration date. We strive to help you make confident life insurance decisions. Protective Life Insurance Company's wide range of products allows drivers to choose the right policies for their needs. If you’re looking for the fastest way to compare life insurance plans and rates, Top Whole Life is here to help. Read on to learn what’s great (and what’s not) about this company and if they’re the right choice for you and your family. Learn more., , , , , , . As parents, it's our responsibility to ensure our family is financially sound, regardless of what life brings. Protective Life Insurance Review 2021. The company scored 10th out of 24 insurers evaluated. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider. Insurance is a method for assurance from money related misfortune. ConsumersAdvocate.org Rating: 4.8 / 5 (Excellent) 9 Customer Comments & Reviews - see all comments. Unfortunately, Protective Life Insurance isn’t usually a part of this group. Protective Life Insurance Review: The Good One of the most impressive things about Protective Life Insurance company is its age. The carrier also makes it a bit hard to modify plans, such as cancellation. Smart finances. Quotes and offers are not binding, nor a guarantee of coverage. Price: $8.92. Remember: the older you are, the more expensive life insurance can get. Our opinions are our own. Under the permanent life insurance umbrella, Protective offers whole, universal, variable universal, and indexed universal life insurance coverage. Protection is an agreement (strategy) in which one guarantor remunerates another against the passing of a specific hazard and threat. Shoppers on a budget: Protective’s term and Custom Choice Universal Life products offer some of the lowest rates on the market. The company also offers a number of riders for extra coverage. In this Protective Life Insurance review, you learned about this company’s stability. Subject to stockholder approval, Dai-ichi Life is expected to acquire Protective Life Corporation by the end of 2014. Protective Life Insurance has an intuitive, user-friendly online application portal. However, some offer guaranteed or instant approval without the need for you to go through such a test. The more quotes you compare, the more chances to save. It also earns cash value over time, so you can also borrow against it after several years. Protective life insurance has term policies that provide you with temporary coverage spanning between a policy length of 10 years up to 30 years. Meaning, if you purchase a 10-year term life insurance plan, it will expire after ten years. So long as you keep paying your premiums on time, you’ll receive permanent protection. With features like no exclusions, you can be assured that your policy is doing what it’s meant to: protecting your loved ones. Protective Life Corporation, an A+ rated company founded in 1907, offers a unique universal life insurance policy comparable to a term life policy, which acts like a term policy and converts to a reducing permanent policy after the requested term. Having been around for over 100 years is a good indicator of its financial stability. This information may be different than what you see when you visit an insurance provider, insurance agency, or insurance company website. Another factor to look for when buying life insuranceis the strength of the company your considering. He has worked with State Farm and other risk management firms. Founded in 2007 and based in Alabama, Protective Life Insurance Corporation is one of the 20 largest life insurance … Is Protective the right term life insurance company for you? Protective Life isn’t accredited with the Better Business Bureau (BBB), but it has an A+ rating for its customer interaction — which is the highest possible score. It became a wholly owned subsidiary of the Dai-ichi Life Insurance Company, Ltd. in 2015. Top Whole Life is a marketing company, and doesn’t represent any life insurance company. Fitch Ratings Inc., however, has given Protective Life a stable outlook rating. The “term” you choose then dictates how long your premium payments stay level, whether for 10, 20, or 30 years. Just make sure that you request the conversion before your term policy expires. However, it’s more flexible than whole life, as you can adjust its death benefits and payments. If you rather not undergo a test, then Protective may not be the best choice. Protective Life Insurance ratings from consumers themselves range from above-average to good. This is especially true if your medical exam reveals an underlying condition. Heidi Mertlich Life Insurance Post is a community of life insurance experts with a deep understanding of the product. With an A.M. Best Protective life insurance rating of an A+, the company offers competitively priced life insurance and good customer service among other features. Though costs increase as you age, the cost of a Protective life insurance policy remains lower than other life insurance companies on the market. 800+ companies are a lot to choose from, so it’s essential to read insurance reviews before you select one. Universal life insurance is also a type of permanent life insurance, so it doesn’t expire. Protective Life Insurance Review Founded in 1907 in Birmingham, Alabama, Protective Life Insurance company has provided policies for more than a century. It offers benefits similar to term life, but you can have the policy in place for life. We help life insurance consumers get answers to their questions. Although Protective Life is not Better Business Bureau (BBB)accredited, it does have an A+ rating. To that end, we’ve come up with this Protective Life Insurance review to help guide your decision. While getting your life insurance through your current employer may be a convenient option, it’s not without its drawbacks. With this, your policy’s cash value builds up based on positive stock market changes. You can, however, make most changes online, such as payments and beneficiary updates. Request your whole life quote from us now so you can start exploring your other options! Protective Life insurance offers term policies starting at $100,000. Protective Life Insurance Review: The Good. Heidi works with top-rated life insurance carriers to bring her clients the highest quality protection at the most competitive prices. 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