Protective Life Insurance Company

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Though lesser known than some competitors, Protective is a century-old life insurance company with a range of affordable and customizable coverage options and the best universal products in the industry.

A.M. Best




J.D. Power


The Good

  • Financial security
  • High customer satisfaction ratings
  • Low volume of complaints
  • Best universal life
  • Customizable policies
  • Competitive pricing
  • User-friendly website

The Bad

  • Lack of brand recognition

Product Availability

Policy Types
  • Term
  • Universal
  • Variable Universal
  • Indexed Universal
  • Whole
  • Accelerated death benefit
  • Accidental death benefit
  • Children’s term  
  • Disability income
  • Guaranteed insurability
  • Term insurance
  • Waiver of premium

Review Breakdown





Financial Strength


User Experience


Product Availability





It’s important to compare quotes and find the provider that will offer you the best rates. 

The cost of coverage can vary drastically from company to company, depending on how the carrier views your risk factors.

Life insurance underwriters will evaluate you based on your age, weight, family health history, medical conditions, and lifestyle to set the cost of coverage.

We looked at Protective’s rates for a number of demographics and found that their rates are below average for applicants across the board.

They offer some of the best term rates in the industry for healthy non-smokers at every age. Smokers or former tobacco users won’t find favorable underwriting with Protective, though.

If you have any health conditions or a negative family health history, you can expect fair underwriting, though you might find lower rates elsewhere.

Financial Strength

Since your family’s livelihood could depend on your life insurance policy, it’s incredibly important to pick a provider that is capable of paying out claims.

One of the first places to turn in your assessment of a company’s financial strength is credit ratings, which gauge the company’s ability to meet financial commitments like paying out its life insurance policies.

Protective holds some of the most prestigious ratings, making it one of the best life insurance companies in the industry based on its financial strength and stability.

All four independent rating agencies, Fitch, Moody’s, Standard & Poor’s, and A.M. Best give Protective Life Insurance Company an “A” or better rating.

Not many of the hundreds of insurance carriers across the United States can claim this level of recognition.

The ratings are as follows:

A.M. BestA+
Standard & Poor’sAA-

Cumulatively, this results in a Comdex score putting them well within the top 10 percent of all life insurance carriers by financial strength and security.

Protective’s own financial reports solidify their financial strength even more, as the company has $121 billion in total assets.

The company has 8.9 million policies in force, totaling $985 billion of life insurance.

Based on all the factors above, Protective is a financially stable company you can depend on with the all-important purchase of life insurance.

User Experience

While product availability and pricing might be central to your choice of life insurance company, user experience matters, too.

How a company communicates with you, the resources they provide online, and the ease of their application are important factors to consider.


  • J.D. Power: 3 / 5
  • BBB: A+

The annual J.D. Power survey scores life insurance companies across several areas of user experience, like their communication with clients, website, the application process, and products.

Their assessment of Protective indicates that customers’ overall satisfaction with their experience with Protective is “about average.” 

However, the company received a 4 out of 5, or “better than most” for its interaction channels, including the website, agents, and phone line.

Protective’s rating from the Better Business Bureau further solidifies its commitment to customer experience, based on their complaint history and business practices.


Protective’s website is notably user-friendly and resourceful.

The website’s learning center is filled with educational posts about the basics of life insurance and other financial products.

You can also access reports on the company’s financial performance.

When it comes to Protective’s life insurance products, you can use a calculator to determine your coverage needs and easily compare policy types to see which one fits your situation best.

You can even get quotes and fill out a basic application online, streamlining the process of applying for coverage.

Policyholders can change their address, update beneficiaries, and manage their payments online.

Wherever you are in the life insurance process, you can get assistance with Protective’s live chatbox on the site, too, making the site even more useful.


Applying for life insurance with Protective is simple and straightforward.

Protective outlines its application process in 5 simple steps:

  1. Instant quote: To get an online quote, you need to fill in some basic info like your age, weight, general health condition, and coverage needs.
  2. Online application: To get the underwriting process started, Protective has a brief online application that asks some preliminary questions about your health and lifestyle.
  3. Phone call: Once you’ve completed the online application, you can expect a follow-up phone call with an agent to answer any remaining underwriting questions.
  4. Medical exam: From there, you’ll schedule a time for a paramedical exam at the location you choose.
  5. Waiting period: The application and medical exam results are then used to determine how much you’ll pay for coverage.

Protective’s turnaround time is close to the industry average, though it may take a bit longer for applicants with complicated health issues.

Product Availability

Protective offers an impressive array of life insurance products to meet the unique needs of individuals, families, and businesses.


Protective’s term life insurance products are some of the most competitively priced choices on the market today.

These policies offer a tax-free death benefit and level premiums guaranteed for the length of the term.

Protective offers term life insurance in increments ranging from 10 to 30 years.

Their term policies also come with a large maximum death benefit. You can opt for coverage between $100,000 and $50 million.

Additionally, these policies come with flexibility, allowing you to convert to a permanent policy later in life without a medical exam.

You can also select a terminal illness rider, which could allow you to access some of the death benefit if you have a qualifying illness.


If you’re looking for a more permanent solution, universal life insurance is your most affordable bet.

A universal policy from Protective can provide you with:

  • coverage that lasts a lifetime
  • the potential for tax-deferred cash value growth
  • access to funds
  • the ability to alter your policy and premiums

There are four sub-types of universal insurance available from Protective:

  1. Protective Custom Choice UL: Similar to term life insurance, you pick a period of time between 10-30 years during which your premiums and coverage are level. The difference is, while the death benefit decreases once your term is up, your coverage never ends. You can also convert this coverage later, regardless of your health.
  2. Variable Universal: The variable universal life product accommodates those who wish to grow cash value while protecting their family, with a portion of their premium being invested in the stock markets. There is additional risk involved in VUL policies, which is worth keeping in mind.
  3. Indexed Universal: For individuals who want the potential for growth with less risk, the IUL is a tailored indexed universal policy. You get long-lasting coverage, some guarantees on minimums, and the potential upside of growth utilizing some of the more common market indices, such as the S&P 500.
  4. Survivorship Universal: Last, Protective offers a survivorship life insurance option, which is a life insurance policy for not one, but two separate lives. The policy spreads the risk, resulting in lower premiums; this product is often used for estate taxes, charitable giving, or inheritance fees.


A whole life insurance policy grants you the most guarantees, with a fixed cash value accumulation rate, level premiums, and a guaranteed death benefit.

As long as you make your payments, the policy is guaranteed to stay in force.

In exchange for these guarantees, you can expect to pay significantly more for whole life coverage than you would for a comparable term or universal policy.

Whole life policies allow you to borrow against the cash value, but doing so can reduce the death benefit of the policy.

Protective also offers whole life insurance specifically designed for children between the ages of 0-17, without a medical exam.


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 grew on its own until 1927, when it acquired another insurance company, Alabama National.

Protective would continue this pattern of growth until it expanded into all 50 states in the following few decades.

Protective went public in 1993 under new leadership, under the ticker PL on the NYSE.

More acquisitions occurred in 1997 and 2006, when both West Coast Life and Chase Insurance Group respectively came under the Protective Umbrella.

Over the last decade, Protective has acquired:

  • MONY Life Insurance Company of America
  • United States Warranty Corporation
  • Blocks of Genworth, Liberty Life Insurance Company of Boston
  • The majority of Great-West Life and Annuity Insurance Company’s business

Protective has acquired 57 companies, with the latest acquisition of Great-West being the largest in Protective’s history.

In 2017, Protective Life became a subsidiary of Dai-ichi Life Insurance Company, Ltd, an industry giant located in Japan, which will allow Protective to expand its services on a massive scale.

The company currently has over 3,000 employees, with its number of policyholders growing steadily.


Through all of its successes, Protective has remained steadfast in its commitment to its core values of integrity, services, trust, and simplicity.

This heart for helping people is also evident in the Protective Life Foundation, the company’s attempt to make a difference in the communities it serves.

Protective and its employees donate to and volunteer with hundreds of nonprofits to improve people’s quality of life and solve issues facing our neighborhoods and the environment.


Brand recognition can be another deciding factor when you purchase life insurance, instilling a level of trust between the company and prospective policyholders.

Protective isn’t the most well-known name in life insurance, but it has built and maintained a solid, substantial reputation over a century. 

Today, the company utilizes social media to promote its brand and stay connected to clients and the community at large.

Protective has over 100,000 followers on Facebook and though the following is smaller, the company actively posts on Twitter and Instagram.

The company also shares its commercials, stories, and educational financial videos on Youtube.


Consensus is another important factor to keep in mind as you evaluate providers. 

In other words, you shouldn’t take just one person’s opinion into account when you choose a life insurance company.

We’ve scoured numerous customer reviews and expert rankings. While Protective doesn’t have the highest consensus rating, it’s likely due to a lack of brand recognition.

With its long and storied history in the life insurance industry and an affordable selection of products, Protective is one of the nation’s best life insurance providers.

They’re also the best provider if you’re in the market for universal life insurance.

Protective has a strong partnership with independent agents offering its products, and a vast number of consumers who are willing to purchase them.

Whatever your situation is, one of Protective’s policies could meet your needs.

Protective Life Insurance Company

Protective Life Insurance Company is a company well known for its term and universal life insurance products. While its name isn't as popular among consumers, expect a great product at affordable rates, with top notch flexibility built in.

(800) 866-9933
2801 U.S. 280
Birmingham, AL 35223

Company Name (and subsidiaries)

  • Protective Life Corporation (Parent)
  • Protective Life and Annuity Insurance Company
  • West Coast Life Insurance Company
  • MONY Life Insurance Company


Jason Fisher

Jason Fisher is the founder and CEO of, LLC. and a multi-state licensed life insurance agent who has helped over a million Americans seek out affordable coverage, compare quotes, or get their family and businesses covered.