March, 25 2017

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Protective Life Insurance Company Review 2016

Protective Life Insurance Company Review 2016

Author
  • Price
  • Underwriting
  • Financial Strength

Protective Life Insurance Company Review 2016

 

Pros:  Protective Life has some of the best rates in the entire country in 2016 on term and universal life insurance.  You can often purchase a lot more life insurance to protect your family through Protective vs. other insures.  Protective is rated in the highest category “Superior” by the top rating agency A.M. Best.  Protective Life also is very stable with a rich tradition as they’ve been around for over 100 years.  Although they may not be a household name, Protective Life one of the largest life insurance companies in America as far as market share in 2016.  Protective Life Insurance Company offers a unique term life insurance policy in that when the term expires, the rate stays the same just face amount drops.  This is often better than traditional term life insurance where the rate increases significantly when the term ends.  Also, in 2016, Protective Life often has the best universal life insurance rates in the entire country.

Cons:  Hardly any negatives with Protective Life in 2016.  Although Protective Life is not a household name such as MetLife or AIG.

Bottom Line:  Protective Life is not as well-known as other major life insurers but nonetheless they rank in the top 20 for total market share in the country for life insurance in 2016.  Protective also is A+ (Superior) rated and have been in business since 1907.  Protective is one our favorite companies for life insurance in 2016 due to their low rates, great underwriting and they offer the same price after the term expires.

About

Type: Public- Traded on NYSE-PL

Underwriter: Protective Life Insurance Company

Founded: 1907

Website: www.protective.com

Phone: (800) 866-9933

Address: 2801 Highway 280 South, Birmingham, AL 35223-2407

A.M Best Rating 2016: A+ (Superior) Second highest of 16 possible ratings

Comdex Ranking: 88 out of 100

BBB Rating: A+

Life Insurance Products: Term Life (With Protective it’s called Custom Choice Universal Life-UL), Universal Life, Variable UL, Survivor UL.

Competition: American General Life, Banner Life, Primerica, Genworth Life, Pacific Life Insurance, North American Co, Lincoln National Life, ING-ReliaStar, Transamerica, Prudential, Midland, Cincinnati Life, TIAA-CREF, Guardian, OneAmerica, Minnesota Life, RiverSource, Allianz Life Insurance Company, Thrivent Financial for Lutherans, AAA, Erie, Sagicor, Amica, ANICO, Assurity, Colonial Penn, AARP, Globe Life, Ohio National Life Group, New York Life, Northwestern Mutual, MassMutual, Grange Life Insurance Company, Symetra Life Insurance Company, Mutual of Omaha, John Hancock, PennMutual, Principal, State Farm, Farmers, Allstate.

 

Protective Life Insurance Company Prices 2016 vs. Competition

Sample monthly prices for a $250,000 20 year term life insurance policy for a 40-year old male at each company’s best rating class:

Mutual of Omaha: $19.91

Protective Life: $20.01

AIG: $20.02

MetLife: $21.12

Prudential: $25.65

Primerica: $28.98

 

Buy it or keep shopping?

Protective Life is an excellent company not only in prices but also in financial stability.  With favorable underwriting for applicants you can’t go wrong in choosing this company to protect your family.

 

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 We want to hear from you about your experience with Protective Life.  Please leave a comment and rating below.

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