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Protective Life insurance review 2022

Updated Nov 15, 2022
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Protective Life offers a variety of life insurance policies and riders for added coverage and also offers policies up to relatively high coverage limits. However, every life insurance policy from Protective Life requires a medical exam.


  • Several types of life insurance available
  • High potential coverage limits for some policies
  • Lots of riders


  • Medical exams are required
  • Below-average J.D. Power customer satisfaction rating
  • Online quotes for term life only

Protective Life Insurance has been in business for more than 110 years and is headquartered in Birmingham, Alabama. There are no eligibility requirements and coverage is available in every state except New York. Overall, our 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.

However, all of Protective Life’s policies require a medical exam. 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. In addition, Protective Life is rated below-average by J.D. Power, which is something to consider when comparing providers based on customer satisfaction.


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Protective Life insurance coverage types

Protective Life offers three types of life insurance—term life, whole life and universal life. There are no guaranteed issue policies available. Every policy requires a medical exam, and online quotes are only available for term life policies.

However, one of the standout features of Protective Life is that the company offers potentially high coverage limits, which some other providers don’t offer. The company also has many riders, including a child’s term rider, guaranteed insurability rider, waiver of premium rider and accidental death benefit rider.

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 – 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 – 30 years, similar to term life insurance.

Protective Life services

Protective Life has several non-insurance financial services that you may want to consider, including commercial mortgages, structured settlements and affordable assets protection services.

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 insurance customer and claims satisfaction

During our Protective Life insurance review, we found that customer ratings are mixed. According to the National Association of Insurance Commissioners (NAIC), Protective Life has fewer than average complaints for individual life insurance. Protective Life received a complaint index of .21, which is lower than the industry average rating of 1.0.

When it comes to overall customer satisfaction, however, Protective Life falls below average. The company was ranked 16th out of 21 providers for overall customer satisfaction in J.D. Power’s U.S. Life Insurance Study.

On the positive side, AM Best gives Protective Life a grade of A+ (Superior) for financial strength. This rating should give policyholders confidence that Protective Life has a history of honoring its claims based on their history of financial stability.

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.

Not sure if Protective Life is right for you? Consider these alternatives

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 look into:

  • Guardian Life: Guardian Life offers term, whole and universal life insurance, with more than a dozen riders for added protection.
  • 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 many other retirement solutions.
  • Globe Life: Globe Life has several policies available, including children’s life insurance and final expense insurance.