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Protective Life Insurance Review

Protective Life Insurance has some of the most affordable policies in the country, as well as high acceptance rates for persons with health difficulties.

It’s also one of the few businesses that provide term life insurance products with fixed rates for 40 years or more. Ex-smokers are subject to additional restrictions and may face a wait time of up to six weeks.

To get insurance that doesn’t need a medical exam immediately, you’ll need to go elsewhere. Protective is a wonderful alternative for people looking for low rates or long-term options.

Protective life insurance rates

Protective Life Insurance Review - Protective Life Insurance Logo

The average cost of a $500,000, 20-year term life insurance policy for a healthy man and woman was estimated using Protective life 2021 rates. There is a lot of competition in the market for policies of this size and length, with rates that are lower than average up to the age of 65.

  • 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

Protective’s top rates are only accessible to customers who meet strict underwriting requirements:

  • Blood pressure. 135/85 to 140/85 is the ideal blood pressure range for those between the ages of 60 and 70.
  • Cholesterol. If your good-to-bad cholesterol ratio is more than 275, then you may be eligible for preferential pricing under the Protective program.
  • Driven by a person’s reputation. Preferential rates aren’t available to those with recent DWI, DUI, or suspension convictions, as well as those with more than two driving violations in the previous three years.
  • The ancestors’ narrative. Those without a family history of cancer, heart disease, or cardiac diseases who die before the age of 60 are eligible for preferential rates, which are lower.
  • Tobacco or alcohol usage or abuse. Six celebratory cigars are allowed by Protective, but the best rates go to persons who haven’t smoked in five years and don’t have a history of substance abuse. Protective authorizes.135/85 to 140/85 is the ideal blood pressure range for those between the ages of 60 and 70.

How to get a quote from Protective life insurance

There is no phone assistance for a term life insurance policy, which is rare for this type of insurance.

  1. To learn more about Protective Life’s products and services, visit our website.
  2. Once you’ve hovered over Term Life Insurance on the top ribbon, just click it. A term life insurance quotation may be obtained by clicking the button, “Get A Quote.”
  3. The information you provide will include your state of residence, date of birth; gender; amount of coverage; plan; height, weight, and health status; and if you presently smoke. Click on Get a quote now for a price estimate.
  4. Click the Apply Now button next to the option that most closely suits your needs and you’ll be all set!
  5. Call Protective at 844-733-5433 to get an estimate on a comprehensive, permanent, or universal coverage.

What happens next?

Protective may underwrite your application for up to six weeks before it is complete. It is unusual for an insurance company to take more than four weeks to approve a claim.

Insurance coverage will begin and you will be able to set up an online account after your application is accepted.

Protective offers term and permanent life

Permanent life insurance products are exclusively available from Protective, and you won’t be able to obtain them anywhere. Packages like this are available:

  • Term life insurance. Periods of coverage range from $100,000 to $5 million, depending on the option. Premiums are set at a fixed rate, and the insurance can be upgraded to permanent status without a medical checkup.
  • Life insurance with a variable premium. In addition to offering a lifetime of protection, this policy generates financial value via careful investment decisions. Your premiums and death benefit can be altered as well as borrowed once you have enough cash worth in your policy.
  • Life insurance for everyone, everywhere. Protective offers three forms of universal life insurance: custom choice universal life, variable universal life, and indexed universal life. Investments and coverage options are two of the main differences between them. There is a monetary value in all of these plans, premiums may be changed, and there are death benefits.

Protective life insurance add-ons

You may customize your policy by adding more options like the following:

  • Accelerated death benefits riders. An early payment is offered in the case of a chronic, severe, or terminal condition.
  • Rider for accidental death insurance. You will receive an extra death benefit if you die as a consequence of an accident.
  • Riders who are under the age of 18. No extra coverage is needed for children to be insured by this policy.
  • Rider for disability income. The monthly payout you get from your insurance policy is based on a proportion of the value of your policy if you are rendered fully disabled and unable to work.
  • Rider that ensures you’ll be covered by insurance. Without having to answer any medical questions, you may increase your life insurance policy.
  • It’s possible to add a dental and vision care rider to your home’s insurance policy. When you get additional term life insurance on top of your current insurance policy, you’ll have additional coverage for a certain period of time.
  • Riders agreeing to pay less than the advertised fee. Your premiums are billed.

Protective life insurance reviews are mixed

Although this firm does not have BBB certification, the Better Business Bureau (BBB) has given it an A+ rating, suggesting that its consumers are satisfied. Customer complaints concerning invoicing and communication issues have been immediately addressed by Protective.

How Protective compares to other insurers

Protective Life’s 40-year term life insurance policy is a world first, and there are no other universal or variable life policies like it available anywhere else.

If your health improves within a year after acquiring coverage, you may be able to have your premium recalculated by the company. When it comes to employee health issues, many firms are less understanding than the federal government.

Also, a healthy 30-year-old male would pay $19 a month for a $500,000, 20-year term insurance policy with Protective, according to our estimates. On average, a $250,000, 20-year term insurance coverage for the same person costs $17 a month.

Even so, you may expect a three to four-week wait for insurance clearance.

Checkout our review of Progressive Life Insurance Review for another insurance review.

Discover How Much YOU Can Save on Life Insurance

Our customers save as much as 35% compared to traditional life insurance offers…

Compare Quotes →

Avatar photo About the author: David Krug is the CEO/President of PolicyPeak, a modern and tech-driven life insurance company. David noticed a gap in the market for personalized policies at an affordable price. He founded PolicyPeak in 2022 with the goal of simplifying the buying process for consumers and offering policies tailored to their unique needs.