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Protective Life Insurance Company ReviewWith over 100 years of history behind their practice, Protective Life Insurance Company can provide some of the best life insurance policies. The average cost of life insurance per month is often a factor to those looking into purchasing a policy. The cost varies upon from company, your age, and your heath, such as are you suffering from diabetes and looking for life insurance coverage?

Make sure to quote out several companies, like Americo Insurance, Banner Insurance or Fidelity Life Association Insurance Company, before you buy one. There are also many companies who sell no exam life insurance. 

Specializing in premium term life policies, Protective also offers affordable whole life, universal, and variable universal policies to all customers.

Life insurance provides peace of mind and security for clients, an ideal that Protective Life takes to heart.

Providing fantastic policies at affordable prices isn’t easy, but they still do it and any insurance company that takes the extra step to help clients is one to keep in mind.

History of Protective Life Insurance Company

One of the major players in the life insurance industry is Protective Life Insurance Company. Protective Life is headquartered in Birmingham, Alabama. The company was founded back in 1907 by Governor William Dorsey Jelks – and by 1909, the Protective Life had already paid out its very first life insurance claim. By 1932, Protective had more than $65 million of insurance in force, and just 25 years later, the company had moved that figure up to nearly $1 billion.

Throughout the years, Protective Life Insurance Company has grown on its own, as well as through numerous acquisitions. In 1983, the company purchased Protective Life and Annuity Insurance Company, and in 1997, it acquired West Coast Life, which solidified its national presence. Less than a decade later, Protective purchased Chase Insurance Group – signifying the company’s largest acquisition to that date.

By 2007, Protective’s 100th anniversary in business, the company had surpassed $250 billion of insurance in force – a tremendous feat, given the many struggles that the economy was currently facing. Over the next several years, the company still continued to grow, and by 2010, Protective had in excess of $427 billion of insurance in force. The following year, it acquired United Investors Life and Liberty Life. Soon afterwards, in 2013, Protective acquired MONY Life Insurance Company. This represented the company’s largest acquisition and its 47th overall.

Ratings

Throughout the years, Protective has remained extremely strong and stable financially, and has always paid out their policies. Because of these reasons, and many more, Protective has excellent ratings from third-party companies.

From A.M. Best, Protective has received an A+ (Superior, and the second highest out of 15 total possible ratings). The company has received an AA- (Very Strong, and the fourth highest out of 21 total ratings) from Standard & Poor’s, an A (Strong, and the sixth highest out of 22 total ratings) from Fitch Ratings, and an A2 (Good, and the sixth highest out of a total 21 possible ratings) from Moody’s Investor Services.

While many businesses are accredited with the Better Business Bureau (BBB), and are provided with a grade of between A+ to F, at this time Protective Life Insurance Company is not. There are also no complaints that are currently listed regarding Protective Life Insurance Company on the Better Business Bureau’s website.

Products Offered Through Protective Life Insurance Company

Protective Life Insurance Company offers a wide variety of life insurance and retirement planning products to serve the many unique and specific needs of its consumer and its business clients.

Protective sells several kinds of life insurance plans:

Term Life Insurance Coverage

Term life insurance is considered to be “temporary” life insurance coverage. This is because term life only provides protection for a set number of years such as 10, 15, 20, or 30 years. Once the coverage has expired, the insured will need to either re-apply for a policy at his or her  age and health (where the premium will typically be a great deal higher at that time), or convert the term insurance policy over to a permanent type of coverage (if applicable). Tthe younger the better to start seeking coverage though we can help you find a policy at any age, from life insurance at 50 to 80 we can help.

Universal Life Insurance Coverage

Universal life insurance is a permanent policy that is designed to last throughout the entire lifetime of the insured. This coverage is considered to be more flexible than whole life insurance coverage, however, because the policyholder can decide how much of the premium goes into the cash value component of the policy and how much goes towards the death benefit (within certain parameters).

Just like with other permanent life insurance policies, the cash that is within the cash value component can grow tax-deferred. This means that there will be no tax that is due on the growth of these funds unless or until they are withdrawn. The policyholder can use these funds for any reason that they decide upon, including for the paying off debt, supplementing their retirement income, or any other need or want.

With Protective Life Insurance Company’s Custom Choice Universal Life Insurance product, policyholders can often save up to 35 percent on quality protection – and the premiums are guaranteed for life. The rates are as low as $7.32 per month for qualified applicants – and the coverage cannot be canceled.

Variable Universal Life Insurance Coverage

Variable Universal Life Insurance coverage is also a type of permanent life insurance protection that offers a death benefit along with a cash component. However, the cash is tied to non-guaranteed investment funds. Depending on the actual performance of this account, the policyholder could earn a great deal more than he or she would in a whole or universal life insurance policy, or conversely, they could end up losing funds in a downward moving market.

This type of life insurance will also have the potential to grow the amount of the death benefit, depending on the performance of the funds.

Survivor Universal Life Insurance Coverage

A survivor universal life insurance policy will cover two people within just one single life insurance policy. This type of plan will pay out the death benefit proceeds upon the death of the second insured.

With survivor universal life insurance, there is both death benefit protection and cash value component. The cash, as with other types of permanent life insurance options, grows tax-deferred, and funds are allowed to be borrowed or withdrawn by the policyholder(s).

How and Where to Obtain the Best Life Insurance Premium Quotes

If you want cheaper life insurance, then you need to do some shopping around. Life insurance is no different than any other major purchase. Buying the first one you see isn’t the best idea. More than likely, you won’t find the cheapest policy on the first try.

If you want to get life insurance, either through Protective or one of the other companies on the market, we should be your first stop. If you give us a call, you’re getting access to life insurance experts with years of experience.

Not only can we give you expert advice, but we can also give you access to over 50 companies. Working with a single agent at Life Insurance by Jeff is like working with 50 other agents all at once.

Let’s get started by calling 888-836-7071.

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