Time. It was established in 1907 and currently operates in all 50 states. These includes child protection riders, accelerated death benefit riders, accidental death benefit riders, and disability benefit riders — some of the most important riders we look for in a life insurance policy. ​Access a percentage of the death benefit while the insured is still living in the case of serious illness. Protective Permanent Life Insurance Policies. Yes, Protective Life requires a medical exam for every policyholder before their application can get approved. Protective Life Corporation was first mentioned on PissedConsumer on Apr 20, 2016 and since then this brand received 53 reviews.. by Caroline Hwang Updated December 17, 2019 . Their policies are affordable, and are a great fit for people who are in the preferred health class. In fact, from top to bottom, from start to finish they are my carrier of choice. Life … The BBB records a total of 37 complaints against the company in the past three years, 12 of which were closed in the past 12 months. Protective Life Customer Reviews and Complaints Protective Life's CEO is Rich Bielen, and the company is based out of Birmingham, Alabama. Let’s begin the review of Protective Life Insurance by taking a look at the products they currently offer. Based on testimonials, the firm is known for being flexible, as well as for providing dedicated service. Founded in 1907, Protective Life Insurance company’s long and stable history began in Alabama under the supervision of William Dorsey Jelks, the former governor of the state. The company scored 10th out of 24 insurers evaluated. And if you change jobs, you could have a gap in coverage. They are one of the most lenient companies for these categories. This policy also gives the insured the choice to lock in level premiums through the age of 90, at which point, your premiums will be paid in full and you will no longer have to pay for your policy. Single. Founded in 1907, headquartered Birmingham, Alabama, Protective Life Insurance … Affordable coverage options with the availability to convert into a permanent Universal Life policy, Very high coverage amounts for those who qualify, up to $50,000,000, Wants permanent life coverage with guaranteed cash value growth, Wants a bit more control over their cash value growth, Is willing to take a bit more risk when it comes to their cash value, Guaranteed minimum gains of 0% to protect in bad market years, Can have more cash value gains in good market years, Is more experienced with investment vehicles, Is open to more risk with their cash value vehicles, Minimum cash value gains of 0% to protect you in bad markets, Are trying to protect their assets in a trust or estate after their deaths â€‹â€‹, Great way for spouses to establish trusts and estates, Cheaper than two life insurance policies for individuals, Affordable life insurance for people with health conditions such as heart disease and high blood pressure, Great selection of permanent life insurance policies such as universal life and indexed universal life, Good coverage options for spouse life insurance, Great discount rates for people with preferred health ratings, Very high coverage amounts up to $50,000,000, Affordable life insurance coverage for people over 50, Not a lot of good term life insurance options. However, the company … easier. Follow us on social media! Getting a quote online is quick and easy. This provides a death benefit for the beneficiary upon the death of the remaining spouse once the first one has already passed. Power’s 2019 U.S. Life Insurance Study, Protective Life received an overall score of three out of five, though it did earn a four out of five in the “interaction” category. The company grew on its own until 1927, when it acquired another insurance company, Alabama National. This indicates that you’ll likely have no problems navigating customer service channels, should you need them. This converted policy is a Universal Life policy with level premiums and guaranteed cash value growth. Under the permanent life insurance umbrella, Protective offers whole, universal, variable universal, and indexed universal life insurance coverage. If you were diagnosed with diabetes or you have high blood sugar you can still receive competitive rates from this company. All products are presented without warranty. Protective Life also allows customers to add riders, or additional coverages, to their policy for circumstances that aren’t covered under a basic term life insurance policy. If you anticipate changing financial needs throughout your lifetime this would be a much better option. If you were to lose your job, you might lose that coverage. Yes, you can cancel your Protective Life life insurance policy, but it must be done with an agent over the phone. These policies are less expensive than permanent policies, but they do not build cash value. Variable Universal life insurance is designed to allow you to gain cash value through various sub-accounts that are invested in the stock market. For a company of this size with nationwide service, these numbers are low. The term policy is for 20 years with $500,000 in coverage. 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