Protective Term Life Insurance Review

Table of Contents

Protective Life insurance company offers a wide variety of different coverage options that can suit different budgets. But are their term insurance plans right for you?

Term life insurance is often the most recommended type of life insurance for families with a high need for financial protection and seeking affordable coverage as a solution. 

Compared to whole life insurance, term life is much more affordable and flexible. With term life insurance, you pay premiums for a set length of time referred to as contract lengths. As a result, insurance companies know that you are likely to outlive your plan, allowing them to charge lower premiums.

On the other hand, whole life insurance is permanent life insurance that will last an entire lifetime. So as long as you pay your premium payments, the odds of the insurance company paying out a death benefits claim are inevitable, resulting in higher premiums.

While a lifetime of coverage may sound like a great deal, most families do not need high amounts of financial protection for a lifetime, as most financial needs tend to lessen as we age.

So, if term insurance is such a great deal, how do you choose the right term life policy?

The answer is to start by reviewing your options from trusted companies, such as Protective.

Protective Life Corporation has over 100 years of experience in the insurance industry and offers two excellent term life insurance options:

  • Protective Classic Choice Term
  • Protective Custom Choice UL

Both options come with a variety of different level premium contracts. However, Custom Choice UL is technically universal life insurance that works like a term life insurance plan.

After the contract ends, a Custom Choice plan converts into a decreasing death benefit policy or be converted into permanent life insurance.

Understanding the differences between the two plans from Protective and other insurance products can be overwhelming. For that reason, we have put together the following review to help you compare both options and select the right plan based on your needs.

This review examines the key features of both Protective term life insurance options, including the coverage amounts, age limits, and available policy riders.

You can also better understand the typical cost of Protective Classic Choice Term and Protective Custom Choice UL and the application process, along with answers to a long list of frequently asked questions about both term insurance options offered through Protective Life.

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Protective Life Insurance Company

Protective Life New LogoProtective Life Corporation was founded in 1907 in Birmingham, Alabama. Protective merged with Alabama National Insurance Company in 1927, which was one of the first of many mergers and acquisitions in the company’s history.

A series of acquisitions in the 1970s and 1980s allowed Protective Life to expand into all 50 states. By 1983, the company had completed its 50th overall acquisition. In 2015, Protective Life was acquired by The Dai-ichi Life Insurance Company of Tokyo, Japan. 

However, business operations remain headquartered in Birmingham, Alabama. Protective also continues to expand its reach through acquisitions, with its most recent acquisition of the life insurance and annuity business of Great-West Life & Annuity Insurance Company for $1.2 billion in 2019.

Protective Life focuses on life insurance products, including term life and universal life insurance. The company also offers plans in annuities and asset protection. In addition, protective has unveiled its new logo and brand identity in the most recent company news, completely changing its look and re-strengthening its commitment to putting people first.

Protective Life Ratings and Reviews

Financial strength and stability are important factors to consider when choosing a life insurance policy. Therefore, high ratings are given to companies with low liabilities-to-assets ratios.

A low ratio indicates that a company is less likely to experience financial challenges in the future, ensuring that they are still around decades from now to pay insurance claims.

Protective Life has received high ratings from the main financial rating agencies:

  • AM Best: A+ (Superior)
  • S&P Global Rating: AA- (Very Strong)
  • Fitch Rating: A+ (High Credit Quality)
  • Moody’s Rating: A1 (High Grade)
  • Better Business Bureau (BBB): A+

Based on total admitted assets, Protective Life Corporation ranks 25th out of the U.S’s top life and health insurance companies. The company’s total assets exceed $126 billion. Protective generated over $6.5 billion in revenue in 2020.

Protective is also available in all 50 states. It is one of the largest insurance companies in the country, which should give you a sense of security.

Protective Term Life Insurance Options

Protective Life has two term life insurance options:

  • Protective Classic Choice Term
  • Protective Custom Choice UL

Classic Choice is Protective’s standard term life insurance. It includes many of the features found in other term life insurance plans, including a set contract length and the option to convert the plan to a permanent policy when the term ends.

With Classic Choice, you can choose from multiple contract lengths, including a 35-year and 40-year option. All term lengths include a level premium that remains the same throughout the life of the policy. As a result, it is an affordable plan for those who need coverage on a budget.

  • Protective’s most affordable term insurance option
  • 10-, 15-, 20-, 25-, 30-, 35-, and 40-year term durations
  • $100,000 minimum coverage amount
  • Convertible to permanent coverage
  • Accelerated non-medical underwriting

Custom Choice UL is Protective’s flexible insurance product, as it offers a variety of ways to continue coverage past your level term contract. The term lengths range from 10 years to 30 years. When the contract ends, you can keep coverage with the same premiums. While your premiums remain level, the death benefit gradually decreases every year until it reaches $10,000.

  • 10-, 15-, 20-, 25-, and 30-year term durations
  • $100,000 minimum coverage amount
  • Renewable to age 121
  • Decreasing death benefit once the contract ends
  • Accelerated non-medical underwriting

Both life insurance options share many of the same features, including accelerated non-medical underwriting and access to convert coverage to permanent life insurance protection.

Classic Choice and Custom Choice also provide access to five different policy riders. Some of the riders are optional and may increase your premiums but include greater flexibility for building a plan that suits your needs.

Protective Life: Classic Choice vs. Custom Choice UL

FeaturesClassic ChoiceCustom Choice UL
Issue Ages:18-75
Contract Options:10-year plan: ages 18-75
15-year plan: ages 18-75 (18-65 tobacco)
20-year plan: ages 18-70 (18-62 tobacco)
25-year plan: ages 18-60 (18-52 tobacco)
30-year plan: ages 18-58 (18-43 tobacco)
35-year plan: ages 18-50 (18-40 tobacco)
40-year plan: ages 18-45 (18-40 tobacco)
10-year plan: ages 18-75
15-year plan: ages 18-70
20-year plan: ages 18-65 (18-63 tobacco)
25-year plan: ages 18-55 (18-52 tobacco)
30-year plan: ages 18-55 (18-43 tobacco)
Renewability:Up to age 95Up to age 121
Coverage Amounts:Minimum Amount: $100,000
Maximum Amount: $1,000,000+
Accelerated Underwriting:
(No Medical Exam)
PLUS Accelerated Underwriting
Up to $1,000,000 for ages 18-45 ($500,000 for ages 46-60)
Traditional Underwriting:
(Medical Exam Required)
Medical exam will be required if an applicant does not qualify
for the PLUS accelerated underwriting program.
Policy Riders:Accidental Death Benefit Rider (Optional)
Children's Term Rider (Optional)
Income Provider Options (Included)
Terminal Illness ADB Rider (Included)
Waiver of Premium Rider (Included
Accidental Death Benefit Rider (Optional)
Children's Term Rider (Optional)
Income Provider Options (Included)
Terminal Illness ADB Rider (Included)
Waiver of Specified Premium (Included
Conversion Option:Convertible to age 70
State Availability:Available in all states

Protective Term Life Insurance Issue Ages and Contract Lengths

Classic ChoiceCustom Choice UL
10-year plan: ages 18-75
15-year plan: ages 18-75 (18-68 tobacco)
20-year plan: ages 18-70 (18-62 tobacco)
25-year plan: ages 18-60 (18-52 tobacco)
30-year plan: ages 18-58 (18-43 tobacco)
35-year plan: ages 18-50 (18-40 tobacco)
40-year plan: ages 18-45 (18-40 tobacco)
10-year plan: ages 18-75
15-year plan: ages 18-70
20-year plan: ages 18-65 (18-63 tobacco)
25-year plan: ages 18-55 (18-52 tobacco)
30-year plan: ages 18-55 (18-43 tobacco)

Protective term life insurance products are available to individuals between the ages of 18 and 75. There are multiple level premium contracts to choose from, but your age at the time of the application will determine which contract lengths you will be eligible to apply for.

No matter which contract length you choose, the premium will be locked in for the entire duration of the contract. It cannot increase.

With Protective Classic Choice term, you can choose from the following contract lengths:

  • 10-year plan (18 to 75 years old)
  • 15-year plan (18 to 75) / (18 to 68 for tobacco)
  • 20-year plan (18 to 70) / (18 to 62 for tobacco)
  • 25-year plan (18 to 60) / (18 to 52 for tobacco)
  • 30-year plan (18 to 58) / (18 to 43 for tobacco)
  • 35-year plan (18 to 50) / (18 to 40 for tobacco)
  • 40-year plan (18 to 45) / (18 to 40 for tobacco)

The Custom Choice UL plan includes fewer contract lengths to choose from:

  • 10-year plan (18 to 75 years old)
  • 15-year plan (18 to 70)
  • 20-year plan (18 to 65) / (18 to 63 for tobacco)
  • 25-year plan (18 to 55) / (18 to 52 for tobacco)
  • 30-year plan (18 to 55) / (18 to 43 for tobacco)

Both life insurance plans are designed to offer a maximum issue age that would provide level premium coverage up to age 85. So, for example, if you are 75 and applying for a 10-year term, your age would be 85 when the level premium period ends.

Protective term life insurance plans are available in all U.S. states.

Protective Term Life Insurance Minimum and Maximum Coverage Amounts

Classic ChoiceCustom Choice UL
Minimum Amount: $100,000
Maximum Amount: $1,000,000+

Classic Choice and Custom Choice have the same minimum coverage amount of $100,000. The minimum amount applies to all issue ages and underwriting classes.

Neither of the two term insurance options has a maximum death benefit unless you’re applying for the accelerated non-medical underwriting option called PLUS. In that case, the maximum death benefit is $1,000,000 for applicants age 18-45 and $500,000 if you are between ages 46-60.

Any coverage amount over the allowable limits for PLUS underwriting would require a traditional life insurance medical exam provided by Protective Life.

Choosing the correct coverage amount can be a little challenging. If you need help, be sure to use our life insurance calculator, which offers a step-by-step process to discovering financial needs to determine a recommended amount of coverage based on your input.

Protective Life Accelerated Non-Medical Underwriting: PLUS

Classic ChoiceCustom Choice UL
PLUS Accelerated Underwriting
Up to $1,000,000 for ages 18-45 ($500,000 for ages 46-60)

As recently mentioned, Protective Life offers an accelerated non-medical underwriting option available for both the Classic Choice and Custom Choice plans called PLUS.

The PLUS underwriting program streamlines the application process by eliminating the need for a traditional medical exam that is often required when applying for life insurance coverage.

However, the PLUS accelerated underwriting program has stricter guidelines than some of the other non-medical programs out there, so not everyone who applies will qualify, resulting in the need for a medical exam.

For starters, to be eligible for the PLUS program, you must be between ages 18-60. If you are between the age of 18-45, you may apply for up to $1,000,000, and if you are between the age of 46-60, you may apply for up to $500,000 of coverage. A medical exam will be required for any amounts over the maximum amount or if you are over the age limit. 

In addition to meeting the coverage and age requirements, the accelerated underwriting program will be ideal for applicants who are in relatively good health. A few pre-eligibility requirements include:

  • Height and weight are within the recommended limits
  • No major medical conditions
  • Blood pressure less than 140/90
  • Total cholesterol less than 275; cholesterol/HDL ratio less than 5.5

The above are just a few of the pre-qualification requirements for PLUS accelerated underwriting. A licensed agent can go over the full list in detail before applying.

How PLUS accelerated underwriting works:

After deciding on which Protective Life insurance plan you will be applying for, you and your agent will complete a short form application to be submitted to Protective Life, beginning the application process.

Generally, within 24 hours of Protective receiving the application, you will receive a phone call from a Protective employee to complete a TeleLife phone interview.

The TeleLife interview will consist of a series of health-related and lifestyle questions. In addition to the health and lifestyle questions, Protective Life will request data from third-party sources such as your MIB report, MVR report, and a prescription check during the interview.

The information received from the telephone interview can often determine if you qualify for the accelerated non-medical underwriting approval or if you will be required to go through a traditional underwriting process.

If you qualify for the PLUS program, you do not need to submit a medical exam or an attending physician statement (APS). You can also voice sign for your application during the phone interview.

If you do not qualify for the PLUS program, you will be notified and asked if you would like to schedule a medical exam to proceed with the application process.

Eligibility for the PLUS program is determined when you apply. The application includes various health and lifestyle questions to help determine the risk of providing coverage.

Protective Term Life Insurance Policy Riders

Classic ChoiceCustom Choice UL
Accidental Death Benefit Rider (Optional)
Children's Term Rider (Optional)
Income Provider Options (Included)
Terminal Illness ADB Rider (Included)
Waiver of Premium Rider (Included
Accidental Death Benefit Rider (Optional)
Children's Term Rider (Optional)
Income Provider Options (Included)
Terminal Illness ADB Rider (Included)
Waiver of Specified Premium (Included

As with most term life insurance products, Protective Life insurance includes a variety of optional policy riders. The Classic Choice and Custom Choice plans offer the same optional riders, but the terms of the riders may vary depending on which plan you choose.

The riders include:

  • Accidental death benefits rider
  • Children’s term life insurance rider
  • Terminal illness accelerated death benefit rider
  • Income provider option
  • Waiver of specified premium aka waiver of premium

Here is a closer look at the terms and conditions of each available policy rider.

Accidental Death Benefit Rider

The accidental death benefit rider is available at or after the issue date of the original policy. It includes an additional death benefit when death occurs due to an accident.

You can include this rider between the ages of 18 and 60. It is available with the Protective Classic Choice Term or Custom Choice UL insurance plans. The minimum issue amount is $1000. The maximum amount is $250,000, or the value of your base policy.

The accidental death benefit coverage automatically expires at age 65 if coverage is still active.

Children’s Term Life Insurance Rider

The children’s term life insurance rider is available with both plans for an additional cost. This rider allows you to obtain coverage for natural or adopted children and stepchildren between the ages of 15 days and 18 years.

You can add between $1000 up to $25,000 in coverage in $1000 increments. The child rider is available to applicants up to age 64 or until your child turns 18.

Each child covered under the children’s term insurance rider will receive coverage until they have reached age 25 or until the insured has reached age 75.

When the child reaches age 25, they will have the option to convert their term insurance to permanent protection for up to five times the amount provided under the term rider.

Terminal Illness Accelerated Death Benefit Rider

The terminal illness accelerated death benefit rider is included at no additional cost. It pays a benefit of up to 60% of the base policy’s value with a maximum payout of $1,000,000.

The benefit becomes available when the policyholder is diagnosed with a terminal illness with a life expectancy of six months or less.

Income Provider Option

The income provider option is available with the Protective Classic Choice Term or Custom Choice UL plans. It allows you to structure how the death benefit is paid out to your beneficiary. Traditionally a life insurance death benefit is paid to the beneficiary in one lump sum payment.

With the Income Provider Option, you can choose how the death benefit is paid out to your beneficiary. For example, you can select from a guaranteed monthly or annual income stream instead of a single lump-sum death benefit. You may also include an initial lump sum followed by monthly or annual income payments.

The installment period can last from 1 to 30 years. The policy endorsement option is available at no additional costs. However, you need to include this option at the time the policy is issued. You cannot add it later.

Waiver of Specified Premium

The waiver of specified premium option is available with either Protective term life plan. The waiver of specified premium ensures that you do not lose coverage if you become disabled. After submitting the paperwork to waive your premiums, you must wait a six-month elimination period before the benefit takes effect.

The rider will continue to waive all premium payments as long the disability remains active or until the policyholder reaches the age of 65 in which the rider will terminate.

Protective Term Life Insurance Conversion Option

Both Classic Choice and Custom Choice plans offer a conversion option to permanent life insurance coverage if requested. The variety of conversion options is one of the highlights of choosing Protective term life insurance.

You can choose from the following types of permanent life insurance policies offered by Protective:

  • Advantage Choice UL
  • Non-Par Whole Life
  • Strategic Objectives II VUL
  • Indexed Choice UL
  • Lifetime Assurance UL
  • ProClassic Legacy UL
  • ProClassic II UL

The Classic Choice term plan allows you to convert to any of the plans listed above within the first five years of your term insurance coverage. After the fifth policy year, you are limited to either Protective ProClassic Legacy, a universal life insurance policy, or Protective Non-Participating Whole Life.

You also have the option of allowing your policy to expire. If the policy expires, you stop paying premiums, and your coverage ends, but you do not receive a payout or any refund of premiums paid.

The Custom Choice UL plan allows you to convert to one of the plans listed during the first 20 years of the policy or before you turn 70.

Custom Choice UL Decreasing Death Benefit Option

In addition to having the option to convert Custom Choice UL to a permanent life insurance plan if needed, the life insurance coverage also offers a unique decreasing death benefit feature that is typically not an option offered by other providers.

In our opinion, this feature is one of the main reasons why we recommend Protective Custom Choice UL as a front runner for life insurance coverage.

As mentioned at the beginning of this review, Custom Choice UL is really classified as a universal life insurance policy that acts just like a term insurance policy. You choose from multiple contracts lengths, and your premiums are locked in for the contract duration you choose.

However, with nearly all term insurance plans, once your level period ends, so do the fixed premiums. So typically, people who still need life insurance coverage once a term contract has expired will either reapply to lock in new rates or convert to permanent coverage if they are not eligible to qualify for a new plan due to a change in health.

With Custom Choice UL, after the level premium contract ends, your death benefit will slowly begin to decrease, but your premium payments will stay the same as they were during the level premium period of your contract.

The death benefit will decrease every year until it reaches $10,000. Once the death benefit reaches $10,000, premium payments will then increase each year.

Take a look at the below sample illustration of how Custom Choice UL works. The below illustration is an example of a healthy 35 year old male applying for a 10-year, $100,000 policy. During the first 10 years, the annual premium is $130.08.

After the 10th policy year, the coverage turns into a decreasing death benefit while keeping the same $130.08 annual premium until policy year 29. At that point, the death benefit will have reached $10,000, and the premium will begin to increase while maintaining a death benefit of $10,000 until age 121.

Classic Choice does not offer this. With Classic Choice term insurance, your death benefit will remain the same once the level premium period is over, but the premiums will increase every new policy year.

The above sample illustration shows how Classic Choice UL works during the level premium period and how the coverage continues to work after the level premium period has ended. Coverage lasts until age 121.

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Protective Term Life Insurance Frequently Asked Questions

The previous sections covered the most important features of Protective Classic Choice Term and Custome Choice UL insurance products. However, you may still have a few details that you want to explore before choosing a plan.

Use the following answers to frequently asked questions about Protective term life insurance to learn more about these policies. If you have further questions, feel free to leave a comment at the end of the post.

Which Protective term life insurance option is the better choice?

Protective Life offers two excellent life insurance options that are both highly capable of handling life insurance needs. However, when it boils down to which of two life insurance options will be better, it really comes to personal preference and goals.

  • Classic Choice will be ideal for anyone concerned about staying within their life insurance budget as it is the cheaper of the two options.
  • Classic Choice offers a 35 year and 40-year option, whereas Custom Choice UL’s maximum term length is 30-years. 
  • Classic Choice offers contract lengths that have slightly higher maximum issue ages compared to Custome Choice UL.
  • Custom Choice UL turns into a decreasing death benefit without a drastic change to the premium once the level premium period ends.
  • Custom Choice UL is renewable to age 121.
  • Custom Choice UL offers a longer timeframe to convert to permanent coverage.
  • Both options offer a conversion option to permanent coverage.
  • Both options offer the same policy riders.
  • Both options offer an accelerated non-medical underwriting option to qualifying applicants.

How do you apply for Protective term insurance?

Protective term insurance can be applied for by electronic or paper application process. Both options require a telephone interview. The interview determines whether you qualify for the accelerated underwriting process.

With traditional underwriting, you should receive a message from a medical professional to schedule an exam. The medical exam can typically be completed at your home. Your application is then sent to Protective to complete the underwriting process.

What determines eligibility for Protective term life insurance?

Eligibility for Protective term life insurance products depends on:

  • Your age
  • Current health
  • Health history
  • Insurance history
  • Personal and lifestyle history

These categories also help determine which underwriting class to use when setting your premiums. Within 24 hours of the application being received, you should receive a call to complete the TeleLife phone interview to determine your eligibility.

The underwriting classes include Select Preferred, Preferred, Standard, Non-Tobacco, and Tobacco. As with most insurance companies, Protective also uses a build chart based on your height and weight. 

If you exceed the height/weight limits of the healthy build chart or suffer from serious medical conditions, you may be denied coverage.

However, Protective accepts applicants with a wider range of conditions compared to many insurers. For example, a history of cancer does not automatically disqualify you from coverage, but you may pay higher premiums.

We always recommend working with an experienced life insurance agent if you have a history of past or present medical issues. An agent can shop your coverage around with multiple providers before applying to determine which company will offer you the best deal based on your individual circumstances.

When would a medical exam be required?

A medical exam is required for individuals who do not qualify for accelerated underwriting. If your application requires traditional underwriting, Protective Life will order a medical exam and medical record if required.

Medical exams are typically needed for applicants who suffer from any major medical conditions, including:

  • Alcohol/drug abuse
  • Immune system disorders
  • Rheumatoid arthritis
  • Lupus
  • Epilepsy
  • Muscular disorders
  • Parkinson’s disease
  • Bipolar disorder
  • Anorexia/bulimia
  • Weight loss surgery
  • Sleep apnea
  • Asthma
  • Diabetes
  • Kidney disease
  • Cancer
  • Stroke
  • Cardiovascular diseases

These conditions do not automatically disqualify you from receiving coverage. However, if you have been diagnosed with or received treatment for any of the conditions listed, you will need to complete a medical exam.

A medical exam is also needed if your height and weight are not within the recommended limits or if you have high blood pressure or cholesterol. Engaging in risky activities, DUI arrests, and traveling to hazardous locations may also disqualify you from the accelerated non-medical exam underwriting.

How quick is approval for coverage?

Approval typically takes a few weeks due to the underwriting process. Underwriters review the application and the results of the medical exam. Underwriters may also review your medical history using the medical information database (MIB) to determine your underwriting class and eligibility for coverage.

Applicants who qualify for accelerated underwriting will receive a faster decision than the traditional application process requiring a medical exam.

Most applicants receive a phone call to complete the TeleLife phone interview the same day that they apply. Therefore, you may receive a decision within a few days or a week instead of several weeks.

What happens after you are approved for coverage?

Protective sends you a copy of the policy in the mail or electronically via email if approved for coverage. The company also recommends that you notify your beneficiaries.

After receiving a copy of the policy, you may begin paying the premiums. The policy starts after Protective receives the first premium payment.

Is Protective term life insurance affordable?

Protective term life insurance is currently one of the most affordable options for those who need short-term coverage. The company also improved its pricing in August 2021, keeping them in front of the pack of its competitors.

The lower prices now place Protective in the top three most affordable options 95% of the time and the top five options 97% of the time. Explore the following sample term insurance rates, and be sure to click the compare rates button to see how they stack up against their competition.

Protective Classic Choice vs. Custom Choice Sample Rates

MaleClassic Choice 10Custom Choice 10Classic Choice 20Custom Choice 20
Age 30$13.79$14.56$19.38$20.94
Age 35$14.31$14.56$21.14$22.19
Age 40$18.40$18.83$29.05$29.71
Age 45$28.11$29.51$46.66$51.45
Age 50$40.76$43.19$71.22$78.96
Age 55$67.33$73.10$114.50$125.44
Age 60$109.19$116.69$200.78$213.64
Age 65$190.62$206.43$384.83$418.47
Age 70$316.56$356.42$790.36NA
Age 75$638.94$677.79NANA
FemaleClassic Choice 10Custom Choice 10Classic Choice 20Custom Choice 20
Age 30$12.19$12.85$16.37$18.43
Age 35$12.96$13.28$17.99$19.26
Age 40$16.69$17.12$24.55$25.95
Age 45$24.19$26.10$36.95$40.58
Age 50$33.95$36.78$55.46$57.30
Age 55$49.81$54.30$84.14$93.25
Age 60$72.64$78.66$142.26$144.67
Age 65$121.89$128.65$257.45$264.22
Age 70$197.16$207.28$705.16NA
Age 75$417.50$439.32NANA

*Preferred Plus Non-Nicotine underwriting classification. Monthly Male/Female premium rates are current as of 09/13/2021, representing the cost of a $500,000 Protective term life insurance Classic Choice and Custom Choice 10-year and 20-year life insurance policy.

What happens after the level premium ends?

What happens after the level premium ends will depend on whether you choose the Classic Choice term or Custom Choice UL and when you choose to convert the coverage to permanent life insurance.

With Classic Choice, you can allow your policy to expire or convert it to ProClassic Legacy or Non-Par Whole Life insurance. If you choose to convert your term insurance before the 5th policy year, you will have more coverage options to choose from.

Protective only allows you to convert the Custom Choice policy within the first 20 policy years or up to age 70, whichever comes first. If you do not convert the policy, you can maintain your plan or allow it to expire.

If you decide to keep your plan, you pay the same premium, but the death benefit gradually decreases until it reaches $10,000. Once the death benefit reaches $10,000, the premium payments will gradually increase until you reach age 121. 

How do Protective term life insurance plans compare to the competition?

Protective term life insurance comes with many of the same features provided by other term life plans. However, Protective stands out for offering lower prices, longer contract lengths, and a wide range of conversion options.

How Do You Get a Protective Term Life Insurance Quote?

The easiest way to get a Protective term life insurance quote is with our online quoter. You can get your quote today or contact us for assistance with the electronic application process.

You can also visit Protective Life’s website to receive an instant quote.

Can I buy Protective term life insurance through Costco?

If you’re a Costco member, you may have noticed that they offer life insurance through Protective. The Costco life insurance plan offered through Protective is referred to as Member Advantage Life Term.

It is similar to the Classic Choice term. However, with Member Advantage Life Term, you only have the choice of either a 10-year or 20-year contract length. 

Although the option offers the potential for an accelerated non-medical process, Protective states that in most cases, a medical exam will be required with the Costco life insurance option.

On the other hand, Costco members who purchase a Protective life insurance policy can expect to receive a small discount on their premiums for the first five policy years.

What Is Protective Life Insurance Company’s Cancellation Policy?

Protective Life offers a free look period of 10 days after the policy is issued. You can cancel the plan within that 10-day window without having to pay your initial premium. You can also cancel after the free look period or stop making premiums, but existing payments are not returned.

How Do You Contact Protective Life Insurance Company’s Customer Service?

You can contact Protective’s customer service at 1-800-866-9933 or via email or online chat.

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Advantages of Protective Term Life Insurance

Protective term life insurance offers several distinct advantages that you rarely receive with term life products:

  • Longer contract lengths
  • Two separate term life solutions
  • Some of the lowest prices
  • A variety of conversion options

Protective is one of three insurance companies that offers contract lengths of 35 years and 40 years for term life insurance. Most companies only offer contracts up to 30 years.

You can also choose from two separate solutions. Classic Choice is a standard term life plan that expires at the end of the term. Custom Choice provides a decreasing death benefit with level premiums.

Both options include some of the lowest prices and the longest list of conversion options.

Disadvantages of Protective Term Life Insurance

Protective term life products include a couple of potential drawbacks, including a relatively high minimum coverage amount. The minimum death benefit is $100,000, which may exceed the needs of those with limited budgets or who are looking to coverage smaller financial needs.

The maximum issue age for each contract length is also designed so that most policies expire before the policyholder turns 85. Thus, unless you have poor health, you may outlive the level premium period.

Conclusion: Is Protective Term Life Insurance Worth it?

Protective term life makes sense for anyone who wants affordable, short-term coverage without committing to a permanent life insurance policy. Compared to other options, Protective also provides greater flexibility, thanks to the variety of conversion choices and policy riders.

Protective Classic Choice term is a top recommendation for low-cost term life insurance. You can choose contract lengths up to 40 years, depending on your current age. Protective Custom Choice UL is useful for those who cannot decide between term life and universal life. You can keep your coverage for life at the same rate but with a gradually decreasing death benefit.

The bottom line is that Protective Life delivers cost-effective term life insurance solutions. If you want affordable coverage, consider getting a Protective term life quote.

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Jeffrey Manola - Life Insurance Expert

Jeffrey Manola - Life Insurance Expert

Jeffrey Manola is the founder of No Medical Exam Quotes, an online insurance broker with a strong focus on helping people shop for the perfect life insurance policy. Jeffrey is both a licensed life insurance expert and content creator for the website. Before becoming a licensed life insurance agent, he served in the United States Marine Corps. He transitioned from serving his country to helping families find affordable life insurance coverage since 2009. No Medical Exam Quotes is licensed to offer life insurance coverage in all 50 U.S. States.

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