Replacing Employer-Sponsored Life Insurance with Protective life

By Jim Tobin, CFP ®

Company Highlights

  • Aggressive Pricing
  •  A.M. Best Rating :  A+
  •  Aggressive Pricing of Health Risks
  • Lenient on Weight/Build

Workers Bequest Rating

Protective Life Insurance Carrier Specifics

Policy Options

Term, Universal Life, Whole Life

Term Lengths





A+ - A.M. Best


NY Unavailable


Ultra Competitive

Customer Service

Issue Age


Min. Coverage


No Exam Option

Yes- Limited

Expert Review Of Protective Life Insurance

Jim Tobin promo

Reviewed by

Jim Tobin, CFP®

Why you can have confidence in this review

At Workers Bequest Life Insurance we value our editorial independence. We keep our reviews strictly factual so you can use them to make informed decisions. Life insurance carriers referred to on this site do not approve reviews. 

If you are thinking about purchasing life insurance from Protective you have landed in a good place. This Protective life insurance reviews will address the company's history and financial ratings, product offerings, underwriting niches, pricing, and alternatives.

Protective Financial Company History

Founded in 1907, Protective is one of the top life insurance carriers in the country. An Alabama company, Protective has grown both organically and by acquisition. Some of the major acquisitions have been West Coast Life, Chase Insurance Services, & most recently MONY.  .

Protective life Insurance Financial Ratings

The Protective motto of "do the right thing" seems to have paid off, Protective is rated A+ by A.M. Best the preeminent ratings provider in the life insurance space. Additionally, above we have provided the ratings of the other primary ratings agencies. 

Am Best


Standard & poors






Protective Life Insurance Products

Protective life insurance offers two of the most unique options in the life insurance world. First, it's most popular policy is a term/universal life hybrid that provides insurance for the term chosen (10,15,20,30 years) and at the expiration of the term allows you to keep the policy in-force at the current payment while lowering the benefit amount to accommodate the rising cost of your insurance.

The second unique, and pretty cool, feature that protective offers is a rider call Income Protection Option (IPO). This rider allows you to designate a schedule for the payment of benefits. This option protects your beneficiary from doing something rash and losing it all quickly, and save you money because Protective is investing the money it hasn't yet paid out. This option is a home run when dealing with younger beneficiaries.  

Beyond the hybrid term policy, Protective offers  traditional Current Assumption Universal Life policies  that earn interest and cash value.

In addition to the more traditional UL, protective also offers two UL policies that involve the equities markets. The popular Indexed UL, which is correlated to positive moves in the stock market , but is not a security instrument, and the Variable UL which can lose value and is tied directly to the stock market.  

Protective also offers a survivorship policy of referred to as "second to die", and fixed and variable annuities.  

Protective Life Insurance Riders

Available term policy riders include:

  • Waiver of Premium
  • Income Provider Option  
  • Accelerated Death Benefit 
  • Children Rider
  • Accidental Death & Dismemberment

Additionally there is a privilege to convert to permanent coverage without proof of insurability.  Conversion privileges vary with product.

Protective Life Insurance Rates

Protective Life Insurance  is often priced super competitively, but underwriting may be stricter than some other carriers  like Prudential. Protective pricing reflects a business  model that rewards good health. This can be important to you if you are in less than perfect health. 

That being said, if you are healthy Protective is likely to be among the price leaders. Take a look:

53 year old male non smoker in good health.




Mo. Pymnt.



Classic 30




OPTerm 30




term Accel30






Protective Underwriting Highlights

While protective is known to have a lenient build chart. it's biggest niches involve pricing: they are nearly always in the top 3 in rates and often number one or two.

The term hybrid and especially the IPO are big niches for Protective. The pricing of the IPO product makes it a "deal stealer" for Protective.   

A negative niche for Protective is smokers. Protective is not competitive with smokers.

Protective No Exam Options


PLUS is the accelerated underwriting platform in use by Protective.  It uses the application questions and publicly available information to make a decision. 

This platform speeds the underwriting process considerably. However, it is only available for applicants who Protective believes will qualify based on prescription history.

 Additionally, this policy can only be issued for up to one million dollars. Applications requiring more coverage  will need to go through traditional underwriting.

Protective  Customer Service

Protective Life Insurance has an excellent customer service record. In fact The National Association of Insurance Commissioners  or NAIC  show a complaint index of .055,  below the 1% national average.

J.D. Power & Assoc. scores Lincoln at 754 and the Better Business Bureau rates Protective A+.

Protective  Contact Information


2801 U.S. 280
Birmingham, AL 35223

Phone:(800) 866-9933


Protective Life Insurance Review Final Thoughts

Protective is an excellent carrier. Along with Banner and Lincoln Financial, Protective offers an ultra competitive rate while aggressively underwriting some specific niches.

Whether you are you and healthy or have some health challenges, Protective is worth a look.  In any case where you have a question about your health class, the best advice is to speak with an experienced independent agent with access to a multitude of carriers.

We are glad about the efforts you've made on checking out for a better upgrade for your Employer Sponsored Life Insurance Plan and finally decided on Workers Bequest. We are committed to a totally transparent process (we'll even share our computer screen with you if you'd like), and making the application process as painless as possible.

Simply give us a call or send us an email so we can get you started. If you have any questions, We'd also like to hear them.

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