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Protective Life insurance review 2023

Updated Mar 09, 2023
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Protective Life offers a variety of life insurance policies and riders for added coverage and offers policies up to relatively high coverage limits. However, every life insurance policy from Protective Life requires a medical exam.

What’s new with Protective Life?

In July 2022, Protective Life introduced a new product, Protective Aspirations Variable Annuity. The new product features tax-deferred earnings, along with enhanced death and living benefits. The annuity also features optional benefits that enable you to maximize investment growth or retirement income, while allowing you to defer part of your annual withdrawal to use later in life.

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Protective Life life insurance

Overall, Bankrate’s assessment is that Protective Life is a good life insurance provider, offering multiple policies, helpful online resources, like coverage calculators and varying amounts of coverage. In turn, Protective Life could be an option worth considering for those who are looking for life insurance from a longstanding company that focuses on life insurance coverage.

This company offers three types of life insurance — term life, whole life and universal life, but there are no guaranteed issue policies available. One of the standout features of Protective Life is that the company offers potentially high coverage limits, which some other providers don’t offer. Plus, there are no eligibility requirements and coverage is available in every state except New York.

However, all Protective Life’s policies require a medical exam, and online quotes are only available for term life policies. If you are looking to avoid a medical exam due to pre-existing conditions, there are many other providers that use simplified underwriting and health questionnaires in place of a traditional exam.

Pros and cons of Protective Life life insurance


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    Several types of life insurance available

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    High potential coverage limits for some policies

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    Numerous riders


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    Medical exams are required

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    Below-average J.D. Power customer satisfaction rating

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    Online quotes for term life only

Protective Life insurance coverage types

Here is a closer look at the types of life insurance available through Protective Life:

  • Term: Term life insurance from Protective Life is available in term lengths of 10 to 40 years. Coverage is available between $100,000 – $50 million, and you have the option to convert your term policy into permanent coverage without taking another medical exam. In addition, every term life policy includes a free terminal illness rider.
  • Permanent: Protective Life’s permanent life insurance offerings include whole life, variable universal life and indexed universal life insurance. These policies provide lifetime protection as long as your premium is paid (in most cases) and build cash value. Whole life insurance has level premiums and a guaranteed death benefit (with rare exceptions), whereas universal life policies have flexible premiums and death benefits that can be changed based on your needs. Protective Life also offers a policy called Protective Custom Choice Universal Life, which allows you to choose your own coverage limit and get coverage over a period of 10 to 30 years, similar to term life insurance.

Protective Life life insurance endorsements

Protective Life offers a selection of optional life insurance riders, which can be used to enhance your policy while providing additional protections, including:

Protective Life life tools and benefits

Protective Life does not advertise any other unique life insurance tools or benefits on its website.

Protective Life customer satisfaction

The National Association of Insurance Commissioners (NAIC) gave Protective Life a 0.15 overall complaint index score in 2021, which is below average. However, Protective ranked 15th in the J.D. Power 2022 U.S. Individual Life Insurance Study, with an overall customer satisfaction score of 759 out of 1,000.

How to file a claim with Protective Life

You can start a claim on the Protective website or by calling 800-424-1592. When filing a claim, the beneficiary will need to supply certain information, including the deceased’s name, policy number, Social Security Number and dates of birth and death. After receiving all required information, Protective sends a claim packet for the beneficiary to complete and return. Once Protective approves the claim it will send the benefit payment.

For claims under $500,000, Protective also gives you the option to submit claim paperwork via email to

Protective Life availability

Protective is licensed to sell life insurance in all states except New York and the District of Columbia. The provider also offers life insurance products in Guam and Puerto Rico.

Other Protective Life perks worth considering

Protective Life does not offer other types of insurance, but it does provide a handful of retirement products in the form of annuities. With an annuity, the customer pays a fixed premium, and the insurance company guarantees them a lump sum or series of payments to provide an income later in life.

Protective Life offers the following types of annuities:

  • Fixed annuities: Protective Life’s fixed annuities come with a fixed premium throughout the policy’s life, followed by a guaranteed income stream during retirement.
  • Immediate annuities: In the case of an immediate annuity, customers begin receiving their payments shortly after purchasing the plan.
  • Indexed annuities: This type of annuity tracks a specific market index but limits your risk by guaranteeing a minimum interest rate return.
  • Variable annuities: Unlike indexed annuities, variable annuities come with a wide variety of investment options. They come with a higher risk in exchange for the chance of a higher return.

Protective Life corporate sustainability

Protective Life gives back to the community through The Protective Life Foundation. The foundation donates money to a variety of organizations, including non-profits that are committed to quality of life, the environment, arts and culture and others. In 2019, The Protective Life Foundation donated to 277 organizations and employees volunteered a collective 1,000 hours to these charities.

If you are shopping for life insurance, Protective Life is a good provider to consider. However, there are several other providers that could be a better fit. Here are several alternatives to investigate:

Protective Life vs. Guardian Life

Guardian Life offers term, whole and universal life insurance, with more than a dozen riders for added protection. Like Protective, Guardian Life sells annuities, and Guardian Life’s portfolio includes more insurance products than Protective’s, including accident, critical illness, dental, disability, hospital indemnity and vision insurance.

Learn more: Guardian life insurance review

Protective Life vs. Pacific Life

Pacific Life sells robust life insurance policies, including a policy that combines life insurance and long-term care insurance. Pacific Life also offers more retirement solutions than Protective.

Learn more: Pacific Life insurance review

Protective Life vs. Globe Life

Globe Life offers more life insurance products than Protective, including accidental death coverage, children’s life insurance, final expense insurance, mortgage protection coverage and term and whole life insurance.

Learn more: Globe Life insurance review

Is Protective Life a good insurance company?

Protective Life offers multiple life insurance policies and helpful online resources, like coverage calculators and varying amounts of coverage. As such, the company may be worth considering if you’re looking for coverage from a company that has spent over 100 years focused on life insurance products.

It’s important to note, though, that all Protective Life’s policies require a medical exam, and online quotes are only available for term life policies. If you want to avoid a life insurance medical exam due to pre-existing conditions, Protective Life may not be the right option for you. However, there are other providers that may be a better fit, as they use simplified underwriting and health questionnaires in place of a traditional exam.

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