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Protective LIFE INSURANCE REVIEW - Pros, Cons, & FAQ's

man and a woman in an airport with luggage and a banner that says Protective Life Insurance Review

Overview:  Protective Life  Insurance is an industry leader.  They offer excellent life insurance protection at very competitive prices.  

Here’s What You Need to Know About Protective Life Insurance

Protective Life has provided life insurance protection for families for over 110 years.  They have over $979 billion active policies in force.  They offer a multitude of  life insurance products with optional riders and benefits that can  accommodate almost any need you have. 

  • pros & cons

  • insurance types

  • who is a good fit?

pros & cons of Protective life insurance


  • Policies up to $50 million
  • Very competitive prices.
  • Offers both term and permanent life insurance.
  • Offers living benefit riders in case you become terminally ill.
  • Competitive prices for substandard health classes (Heart disease, high blood pressure, high cholesterol, etc.)
  • 15% discount available to Costco members.  Restrictions may apply.


  • Limited non-medical options.  More likely to have to take a physical exam.
  • Final expense or guaranteed issue life insurance are not available.
  • Protective Life Insurance uses age nearest birthday.  This means they make you a year older than you are exactly 6 months prior to your date of birth.  For example, let’s say you were going to be 40 years old on July 25, 2021.  Exactly 6 months before, on January 25, 2020,  Protective Life made you 40 years old for life insurance even though you were still 39.  On January 25, 2022, you will be 41.  Protective Life considers you a year older than you actually are starting 6 months before your actual birthday so they can charge you more money based on the older age.

How is Protective Life Different?

Protective Life's vast number of products which offer some of the most competitive prices in the market is what sets them apart from the competition.  They have coverage for every situation and every budget possible.  For example, they have a competitively priced 35 and 40 year level term that most companies don't offer.

What types of insurance can you purchase from Protective Life?

Life Insurance Products Offered through Protective Life:

Protective life offers a wide variety of life insurance products.  The include...

Term life insurance

Universal life insurance

Whole life insurance

Click on "insurance types" tab above for details.

The Perfect Match Assessment

If you're in a hurry, simply answer 5 easy questions and we'll match you with the perfect company! Click here for quick assessment.


In addition to life insurance, Protective Life also offers annuities.  An annuity is an investment product which can provide the assurance of a series of payments guaranteed to last for as long as you choose – even for as long as you live.

Fixed Annuities - Fixed annuities are designed to meet a variety of retirement planning needs.  These products offer relatively low risk, guaranteed growth and lifetime income. 

Indexed Annuities - Indexed annuities offers market-linked growth with little to no downside risk.  Such annuities generally feature a fixed rate of interest but also the potential for higher returns based on the performance of a specific market index.

Immediate Annuities - Single-premium immediate annuities enable you to convert your assets to a reliable stream of annuity income payments.  An annuity is the only investment product which can provide the assurance of a series of payments guaranteed to last for as long as your clients choose – even for as long as they live.

a brief history of Protective Life

Protective Life Insurance Company was founded in 1907.

In the year...

  • 1932 insurance in force reaches $65 million.
  • 1982 insurance in force reaches $13.7 billion. 
  • 2007 insurance in force reaches $765 billion & assets reach $41.1 Billion.
  • 2013 Protective acquires MONY for $1.088 billion
  • 2016 Protective acquires Genworth Life & Annuity & US Warranty Corporation
  • 2015 Protective joins Dai-ichi Group, a top tier global life insurer based in Tokyo, Japan.
  • 2018 Protective acquires Liberty Life Assurance Company of Boston.  $901 billion of insurance in force & asset reach $90 billion.
a hispanic couple dressed in red tweed smile out front of their home with a teal banner with white font saying Protective Life Insurance Review

In 2019 Protective acquires the individual life and annuity business of Great-West Life & Annuity Insurance Company, the largest acquisition in Protective's history.  Insurance in force reaches $979 billion & assets reach $121 billion. 

Americans are terrible at this one thing... 

recent study found that more than half of Americans overestimate the cost of term life insurance by three times.  If you've never gotten a personalized quote or only seen quotes from one company, you likely have no idea how inexpensive life insurance really is!

Protective  Life Insurance Products

Level Term & Guaranteed Universal Life Details

Term Life Insurance – Protective Classic Choice:

  • Term Period 10,15,20,25,30,35, and 40 year
  • Minimum Death Benefit – $100,000
  • The death benefit is guaranteed
  • Premiums level each year during the term period
  • Policy may be renewed until age 90

Underwriting Classes

  • Select Preferred
  • Preferred
  • Non-Tobacco
  • Tobacco

Issue Ages

  • 10 Year – 18-75
  • 15 year – 18-75 (18-68 for tobacco)
  • 20 year- 18-67 (18-62 for tobacco) 25 Year – 18-57 (18-52 for tobacco)
  • 30 Year – 18-57 (18-40 for tobacco)
  • 35 Year – 18-50 (18-40 for tobacco)
  • 40 Year – 18-45 (18-40 for tobacco)

The policy may renew until age 90.

Optional life insurance riders:

  • Accidental Death Benefit Rider – For an additional fee, this rider provides coverage that pays an additional death benefit if you die from an accident.
  • Children’s Term Life Rider: For an additional fee, you can use this rider to provide death benefit protection for all-natural, adopted, and stepchildren within the issue age limits.
  • Terminal Illness Rider – This benefit can accelerate up to 60% of the policy’s death benefit or $1 million, whichever is less if you have a qualifying terminal illness and meets certain terms and conditions.  There is no cost for this benefit.  The death benefit will be reduced by the amount of benefit paid plus accumulated interest.
  • Wavier of Premium Rider: For an additional fee, you can have your premiums waived if you become disabled.  There is a six month waiting period before the waiver benefit takes effect.

Protective Guaranteed Universal Life – Advantage Choice Universal Life:

Advantage Choice Universal Life is a guaranteed universal life policy that provides long-term protection and flexible features.  It has the potential for cash value accumulation based on a fixed interest rate while providing flexible premium payments and death benefits.

  • Minimum Amount: $50,000 – Non-Tobacco & Tobacco health class only | $100,000 – All health classes
  • Guaranteed Interest Rate – 2.5%
  • Surrender Charge – Years 1-9


Death Benefit Coverage – The death benefit amount may be adjusted without having to buy a new policy.  You may decrease the face amount subject to minimums and charges after three years.  Keep in mind any changes you make to the face amount will have an impact on the lapse protection and any applicable charges resulting from a face decrease may cause the policy to lose lapse protection.

Premium Flexibility – With the Protective Advantage Choice UL, you have the option of premium flexibility.  You can choose to pay a level premium for their lifetime, for a certain period of time, or you can even adjust premiums to correspond with your expected income level.

Lapse Protection Endorsement – The built-in lapse protection, automatically included on each policy, can guarantee death benefit coverage up your lifetime based on the premiums you paid and the formulas described in the Lapse Protection Endorsement.  As long as the Lapse Protection Account value equals or exceeds policy debt, then your policy is guaranteed not to lapse.  The lapse protection guarantees the policy death benefit only, not the cash surrender value.

Premium Payments – Premium payments can be increased, decreased, or skipped, depending on the amount of premium you paid into the policy, the policy cash value, policy disbursements (loans or withdrawals), and the credited interest rate.  Premium payment amounts and schedules are left to your discretion, subject to policy required minimums and IRS Guideline premium maximums, if applicable.  Any premium changes will impact the projected duration of the lapse protection. If policy changes are made, your premium payments generally can be adjusted to maintain the lapse protection.

Tax-Deferred Growth – A portion of each of your premium payments goes into the “policy value” which is the part of the policy that earns interest.  Any interest you earn is on a tax-deferred basis.

Loans – Loans can be taken out any time after the first policy year.  Loan interest is charged at 5% in arrears for all policy years.  Keep in mind loans may negatively impact your policy’s performance, the death benefit, and the lapse protection.

Optional life insurance riders:

  • Accidental Death Benefit Rider – For an additional fee, this rider provides coverage that pays an additional death benefit if you die from an accident.
  • Children’s Term Life Rider:  For an additional fee, you can use this rider to provide death benefit protection for all-natural, adopted, and stepchildren within issue age limits.
  • Terminal Illness Rider – The benefit can accelerate up to 60% of the policy’s death benefit or $1 million, whichever is less if you have a qualifying terminal illness and meet certain terms and conditions.  There is no cost for this benefit.  The death benefit will be reduced by the amount of benefit paid plus accumulated interest.
  • Waiver of Premium Rider: For an additional fee, you can have your premiums waived if you become disabled.  There is a six month waiting period before the waiver benefit takes effect.
  • Extended Care Rider – Advances a portion of your base policy’s death benefit if you are certified by a licensed health care practitioner within the past 12 months as chronically ill.  Chronically ill is defined as either unable to perform at least two activities of daily living without assistance for at least 90 days or requiring substantial supervision for protection from health and safety threats due to severe cognitive impairment
  • Return of Premium Rider – Returns parts or all of paid your premiums during select policy intervals.  For the first 60 days in policy years 21 and 26, you can receive 50% or 100% of their paid premium into the life insurance policy.

Want to see sample quotes for Protective Life Insurance?

Click How Much Does Life Insurance By Protective Life Cost?

Protective Life coverage details and guidelines

Read on to find out who issues Protective Life's policies, how to get an online quote, and how to get a low rate.

Who Issues Their Policies?

According to Protective Life's website, "Protective is a registered trademark of Protective Life Insurance Company.  Protective and Protective Life refers to Protective Life Insurance Company (PLICO) located in Nashville, TN and its affiliates, including Protective Life & Annuity Insurance Company (PLAIC) located in Birmingham, AL.  Insurance and annuities are issued by PLICO in all states except New York and in New York by PLAIC.  Product availability and features may vary by state.  Each company is solely responsible for the financial obligations accruing under the products it issues.  Product guarantees are backed by the financial strength and claims-paying ability of the issuing company."

How Do I Get An Online Quote Through Protective Life?



You can get online quote for term life Insurance direct from Protective Life here -

For universal life insurance & whole life insurance quote you have to call  Protective Life @

(844) 733-5433 

How do I get a low rate?


Pro Credit Standard to Preferred Underwriting Class Upgrade:

Allows consideration for Preferred Non-Tobacco health class if disqualified solely due to only one of the following cardiovascular risks:

  • Blood pressure
  • Build
  • Total Cholesterol
  • Cholesterol / HDL ratio
  • Family History (heart disease)

Eligibility for the upgrade to Preferred Non-Tobacco health class depends on the extent of the above + other remaining cardiovascular health issues.  Click here for Protective Life’s sample underwriting guidelines.

Protective Life Underwriting Solutions (PLUS) – Not everyone will qualify.  Based on individual circumstances.

Ages 18-45 $100,000 to $1,000,000

Ages 46-60 $100,000 to $500,000

  • Blood and urine samples not required.
  • Underwriting phone interviews conducted by Protective Life employees.
  • Uses advanced analytics and automated underwriting platform for ease and convenience.

Find Your Perfect Life Insurance Plan!

Click below to search for life insurance by company, coverage amount, and policy type.

Shortcut:  Our #1 choice for life insurance with health issues is AIG Direct.  If you have any history of heart disease, diabetes, cancer, stroke, or obesity, click here for a free quote.

WHO is pROTECTIVE Life for?

Protective life is for anyone who does not have any, or adequate life insurance protection for those who rely on their income.  Should that income be eliminated due to a death,  a Protective life insurance policy provides protection against possible financial devastation.

Who is the ideal Protective life applicant?

The ideal Protective Life applicant is between the ages of 18 to 80 years old who needs life insurance to cover the risk associated with dying young or needs life insurance to protect their assets in their retirement years.   

what if i'm not perfectly healthy?

Even if you have / are....

  • high blood pressure
  • high cholesterol
  • overweight 
  • well controlled type 2 diabeties
  • some mild forms of heart disease
  • some mild forms of cancer longer that 5 years ago
  • as well as other health conditions

You still may get a good price from Protective Life.  It is worth your time and effort to apply and go though the underwiring process. 

Our Favorite Life Insurance Companies

We've worked with and reviewed dozens of companies.  Here are our faves.

Ladder Life Insurance

Best for:  No-Exam Plans Up to Age 60

Ladder is known for a quick and easy online application with no medical exam required in many cases.  They have 10, 20, and 30 year plans.  They offer the most coverage without an exam in the industry. Coverage amounts start at $100,000 and go as high as $8 million.

AIG Direct Life Insurance Logo

AIG Direct

Best for:  Lowest Rates or Health Conditions

AIG Direct offers a range of custom term plans up to 35-year term as well as return of premium, and permanent plans that build guaranteed cash value.  Their rates will beat just about anyone if you take an exam.  They're also terrific if you take medication or have health issues.

Bestow Life Insurance

Best for:  Convenient and Simple Plans

Bestow is known for their simple, straight-forward 10, 15, 20, 25 and 30 year term plans up to $1.5 million.  They never require a medical exam (ever) and have great rates.  Rates start as low as $8 per month.

how to apply for life insurance with Protective Life?

Signing Up for Protective can be done in a few different ways. There is an online option and a virtual assistant to support you through that process.  You also have the option of calling to complete the process over the telephone.

signing up for Protective life

To sign up for Protective life, you will have to complete...

  • an application
  • a telephone interview
  • a medical exam

In addition the underwriter will most likely order an attending physicians statement from your primary care doctor and an other specialist you see.  Approval can take as long 6-8 weeks.

how does the application process with protective life work?

After the initial application is complete and submitted, it will be reviewed by the underwriting department.  It will then be determined if a medical exam and further underwriting is required.

Protective life financial strength and bbb ratings

Protective Life is not accredited by the BBB.  

However, Protective is a financially strong, long standing company.  Other ratings and financial standing are...

  • Assets to date: $121 Billion
  • Policies in force: $979 Billion
  • AM Best Rating: A +
  • Fitch Rating: A+


Select Your State for an Instant Quote

Protective Life reviews and complaints

As a company in the insurance industry, Protective Life has a National Complaint Index Report under the National Association of Insurance Commissioners. The National Complaint Index standard is 1.00 with the Protective Life index being 0.36.  This means that Protective Life’s complaint index is less than half as expected in the market.

Protective Life has current & past complaints with the Better Business Bureau but most are minor and administrative in nature. 

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Compare Protective Life VS New York Life Insurance

  • Protective life has better term life insurance rates compared to New York Life.  They also offer longer guaranteed level term periods like 35 & 40 year terms. 
  • Protective has both universal life insurance and whole life insurance where as New York life only offers whole life insurance.  Universal life is generally more flexible and less expensive versus whole life insurance.
  • Protective Life Insurance is easier to buy and more readily available.  You can purchase Protective Life from most brokerage agencies.  You have to call a New York Life agent in order to purchase a policy.  


How to Compare Companies:

Insurance companies are NOT all the same.  Some are more lenient on certain health issues, some focus on a no-hassle application without an exam, some are financially stronger than others, and their pricing varies a LOT!  The smartest move is to get quotes from two or three companies and compare the pros & cons of each.


Many of the following companies have better products and cheaper prices versus Protective Life Insurance.  Some even offer no medical exam policies.

Banner Life logo

Banner Life Insurance Review

Banner Life Insurance company is part of Legal & General Group, a London-based multinational financial services company founded in 1836.  Banner likes to keep their life insurance offerings simple with just term and universal life insurance. They're a solid alternative to Protective if you want straight-forward, low cost term life insurance.

Bestow Life Insurance Review

Bestow Insurance offers term life insurance for people between the ages of 18 and 60, and in generally good health.  You can get coverage online in about 10 minutes starting at $10 a month.

Couple on couch inside their house. They are sitting really close and sharing a laptop while looking at each other and smiling.

CMFG Life Insurance Review

CMFG, through CUNA Mutual Group, uses its TruStage brand to sell life insurance to the public and credit union members. 

Colonial Life Insurance - Helping America's Workers with Financial Protection Since 1939

Colonial Life Insurance Review

Colonial Life has one of the oldest reputations in the supplemental benefits industry. They offer life, accident, and illness policies to complement your health insurance plan.

Family game of tug-of-war with a rope. Set in a field with a blue sky and white clouds

Ethos Life Insurance Review

Ethos is not a life insurance company.  They are a licensed producer and third party administrator.  Founded in 2017, Ethos has developed an online platform that allows you to apply for life insurance and possibly get instant approval. 

Fabric Logo

Fabric Life Insurance Review

Fabric Life offers affordable life insurance with easy, online quotes and application available 24/7.  The company uses algorithms to speed up the underwriting process, with well-qualified applicants getting approved without a medical exam.

life insurance geico, geico life insurance review

Geico Life Insurance Review

GEICO offers life insurance products through its partner, provides access to dozens of life insurance carriers which makes it easy to get a quote for term, universal or whole life insurance. 

Haven Life Insurance Review

Haven Life Insurance Review

Haven Life Insurance Agency, LLC, is a wholly-owned subsidiary of MassMutual and offers an easy and fast online quoting and application process for term life insurance. 

Man in mid 30's with hands behind head and leaning back in his chair. He is wearing a blue collared shirt with sleeves rolled up.

Health IQ Life Insurance Review

Health IQ rewards healthy lifestyle choices by offering lower rates for people who take care of their health. 

Ladder Life Insurance Logo

Ladder Life Insurance Review

Ladder has developed an online platform that allows you to apply for life insurance and possibly get instant approval.  They have teamed up with Fidelity Security Life in 49 states and in New York with Allianz Life Insurance Company of New York.

Leap Life Insurance Logo

Leap Life Insurance Review

Leap LIfe uses artificial intelligence (Policy Matching AI) technology to compare your health, habits, and hobbies against life insurance company underwriting guidelines in order to match you with the best possible policy from a company that they represent.

Woman smiling lookin up lemonade life insurance on her laptop

Lemonade Life Insurance Review

Using AI technology and chatbots, Lemonade offers a completely online experience and lightning fast claims processing through its mobile app.  


Matrix Direct Life Insurance Review

Matrix Direct Life Insurance, now AIG Direct, is a life insurance company offering coverage through American General Life Insurance and The United States Life Insurance Company in the City of New York.  Most policies require a medical exam, but certain term and whole life products can be purchased without one.

Mutual of Omaha Logo

Mutual of Omaha Life Insurance Review

Mutual of Omaha Living Promise Whole Life Insurance has both level and graded benefit plans. Underwriting is simplified issued –  and does not require a medical exam.

Nerdwallet Logo

Nerdwallet Life Insurance Review

When you request a quote from Nerdwallet Life Insurance you will be redirected to another website called Quotacy.  Quotacy is backed by Hallett Financial Group, Inc.  Hallett Financial Group, Inc is a full service multi-carrier independent insurance brokerage agency.

Pacific Life Insurance Company Logo

Pacific Life Insurance Review

Pacific Life is very competitive in the term life insurance and the guaranteed universal life insurance market.  Most of the time in the Top 3 when compared to other leading carriers in the life insurance market.

Protective Life Insurance Logo

Protective Life Insurance Review

Protective Life's vast number of products which offer some of the most competitive prices in the market is what sets them apart from the competition.  For example, they have a competitively priced 35 and 40 year level term that most companies don't offer.

Prudential Life Insurance Logo

Prudential Life Insurance Review

Prudential Life Insurance is one of the largest life insurance companies in the US.  They offer term life and universal life insurance policies that let you add extra features to customize your coverage.

Two young families outside having a good time with their kids piggy backing on them. Banner across picture say Sagicor Life Insurance Review

Sagicor Life Insurance Review

Sagicor is a full-service life insurance company, offering term, whole life, and universal life through SagicorNow Accelewriting no medical exam underwriting for qualified applicants.

SelectQuote Logo

 SelectQuote Life Insurance Review

Since 1985, SelectQuote has saturated the advertising market with multiple TV, radio, & print adds per day.  This is the reason they are the #1 direct to consumer insurance agency.  BUT....

Transamerica Life Insurance Logo

Transamerica Life Insurance Review

Transamerica Life Insurance Company is a leader in the life insurance industry.  They offer a variety of competitively priced life insurance products and riders so you can customize your policy

TruStage Term and Whole Life Insurance Review

TruStage Life Insurance Review

TruStage is convenient and is a solid company, but is a lot more expensive compared to other online life insurance providers, limits coverage to $100,000, and only offers 5-year terms.

For more company information, please visit our Life Insurance Company Reviews Page.   If you’re searching for life insurance by term length or dollar amount, please visit this page


  1. Does Protective life insurance cover COVID-19 related deaths?  Yes.  Life insurance covers death by all causes that are not explicitly excluded in the policy.  COVID-19 is not explicitly excluded in the policy therefore they would not deny a claim for that reason alone.
  2. Is Protective Life a good / legit company?  Yes.  Not only is Protective Life a good / legit company, they are also one of the best in the life insurance industry.
  3. Does Protective Life have the best prices for life insurance?  Generally yes.  Protective Life will always be in the Top 5 for the term and guaranteed universal life insurance policies.  Especially if you are in the Preferred Plus or Preferred underwriting class.
  4. How easy is it to get approved for life insurance through Protective Life?  If you are healthy, it is not difficult to get approved.  Protective Life is also lenient for certain types of health conditions as well.  Especially with the pro credit standard to preferred underwriting class upgrade.   If you are in poor health however, it might be difficult but not impossible.
  5. Will I have to give my social security number when I apply?  Yes.  Protective Life will use your social security number to verify your identity.  Protective will also run a credit check and other types of data reporting such as an RX Prescription Drug database check during the underwriting process.
  6. Does Protective Life have a lot of complaints? Not a lot compared the size of the company.  According to the National Association of Insurance Commissioners (NAIC), Protective Life’s Complaint Ratio is 0.36 compared to the national median of 1.00.  The complaint ratio indicates the number of negative reviews a company receives in proportion to its size.
  7. Did you find anything in your research during your Protective Life Insurance Reviews process?  Protective Life is a leading company in the life insurance market and has some of the most competitive terms and guaranteed universal life you can buy.
  8. Who owns the Protective Life Insurance Company?  In 2015 Protective Life Corporation was purchased by Dia-ichi Life – the 3rd largest life insurer in Japan.
  9.  What is life expectancy? Life expectancy is the statistical expectation of how long someone will live at birth based on a number of factors such as socioeconomics, demographic, geographic, thermographic, stenographic, idiographic, and historiographics.


Protective Life Insurance Company is a must-shop is you are in the market for a term life insurance or guaranteed universal life insurance policy.  The company is financially stable and highly rated.  Their prices are outstanding and the underwriting is not as stringent as other carriers if you are in average health or have minor health impairments. With term life insurance policies up to 40 years, guaranteed universal life up to age 121, and coverage up to $50 Million, Protective Life should be included in your life insurance comparisons.

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Written by:  Chris Lalor

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