Read our comprehensive Protective life insurance review to learn about available policy options, pricing, pros, and cons in 2025.
Find out if you're overpaying for life insurance below.
Updated: October 20, 2025
Advertising & Editorial Disclosure
Average Monthly Cost
Average Annual Cost
Protective Life offers term lengths longer than the usual 30 years, up to 40 years. It also provides whole and universal policies.
Most policies from Protective Life require a medical exam.
Protective Life offers coverage amounts of up to $10 million to most applicants. Depending on the underwriting profile, some applicants may be eligible for up to $50 million in coverage.
Protective Life is MoneyGeek's best life insurance company for 2025, earning an overall MoneyGeek score of 4.7 out of 5.
Protective Life Insurance caters to individuals of different ages, offering policies for those aged 20 to 80 years old. It offers various policy options, including term, whole and universal products. You can also access different riders.
Backed by strong customer experience and financial strength ratings, Protective is suitable for individuals seeking a plan they can modify or enhance to meet their evolving needs over time.
Protective Life offers the three main types of life insurance, including term, whole and universal policies.
Term life insurance is a type of life insurance policy that provides coverage for a specific period, such as 10, 20 or 30 years. The policy doesn’t build cash value and terminates at the end of the policy term.
You can purchase Protective Life's Protective Classic Choice Term policy for 10 to 40 years. The minimum face amount for this policy is $100,000, and the maximum coverage amount is $50,000,000. If your needs change, it can also be converted to a permanent policy without a medical exam.
Other policy features include guaranteed level premiums, an income-tax-free death benefit to your beneficiaries and a terminal illness rider allowing accelerated death benefits (subject to state law). A Protective Life term life policy is renewable. Your premium amount may increase at the time of renewal.
A term life policy is ideal for those who want life insurance coverage for a specific period and are looking for an affordable, flexible policy that offers options to convert to a permanent policy if needed. It’s especially beneficial for those who want to provide their loved ones with an income-tax-free death benefit.
| $100,000 | $5 | $58 |
| $250,000 | $8 | $102 |
| $500,000 | $14 | $170 |
| $750,000 | $21 | $248 |
| $1,000,000 | $25 | $301 |
| $1,500,000 | $37 | $442 |
| $2,000,000 | $48 | $578 |
| $2,500,000 | $59 | $716 |
| $3,000,000 | $71 | $855 |
Rates are based on average quotes for applicants with average weight and health ratings. Actual premiums will vary depending on your profile, lifestyle, health and coverage needs.
Whole life insurance is permanent life insurance that covers the policyholder for their entire life, as long as premiums are paid. Unlike term life insurance, which only provides coverage for a set period, whole life insurance accumulates cash value over time, and the policyholder can borrow against it. It also provides a guaranteed death benefit paid directly to the beneficiary upon the policyholder's death.
Protective Life's whole life insurance policy provides lifelong coverage at fixed premiums and builds a cash value you can access in an emergency. This policy has level premium payments, flexible death benefit options and guaranteed cash value growth.
Protective Life's whole life insurance is an ideal option for those seeking lifelong coverage with the potential to build cash value while also having the flexibility to choose their death benefit amount and the option to access their policy's cash value in the future. Whole life insurance is especially beneficial for those with a family history of health concerns, as it provides guaranteed coverage for the policyholder's entire life. Additionally, it can help with funeral expenses, offset the cost of inheritance or estate taxes and provide liquidity or retirement planning in the future.
| $100,000 | $127 | $1,528 |
| $250,000 | $318 | $3,820 |
| $500,000 | $637 | $7,641 |
| $750,000 | $955 | $11,461 |
| $1,000,000 | $1,273 | $15,282 |
| $1,500,000 | $1,910 | $22,922 |
| $2,500,000 | $3,184 | $38,204 |
Rates are based on average quotes for applicants with average weight and health ratings. Actual premiums will vary depending on your profile, lifestyle, health and coverage needs.
Universal Life Insurance (ULI) is a type of permanent life insurance that offers flexibility in premium payments, death benefit levels and investment options. It combines the security of a traditional life insurance policy with the potential of an investment account. ULI allows policyholders to adjust their death benefit and premium payments to meet their changing needs. Protective Life offers three ULI options:
This type of ULI allows policyholders to select the coverage they need, along with the initial level benefit period of 10 to 30 years — similar to term life policies. Policyholders can adjust the coverage amount and exchange their policy for permanent coverage within the first 20 years, up to age 70, without another medical exam.
With this type of ULI, policyholders can allocate their premium payments among different investment options for potential high cash value accumulation. Its benefit includes guaranteed protection with upside potential, premium flexibility and investment options.
Indexed universal life insurance offers the potential for cash value accumulation based on the performance of one or more stock market indices while protecting your earnings from downside risk with a minimum guaranteed rate. You have two options for your indexed universal life interest account.
Universal life insurance is a great option for individuals looking for flexibility, potential for cash value accumulation and the security of a traditional life insurance policy. It’s especially attractive for those who want to adjust their coverage and premium payments over time to fit their changing needs.
| $100,000 | $56 | $673 |
| $250,000 | $140 | $1,683 |
| $500,000 | $281 | $3,366 |
| $750,000 | $421 | $5,049 |
| $1,000,000 | $561 | $6,732 |
| $1,500,000 | $842 | $10,098 |
| $2,500,000 | $1,403 | $16,830 |
Rates are based on average quotes for applicants with average weight and health ratings. Actual premiums will vary depending on your profile, lifestyle, health and coverage needs.
A rider is an additional feature or provision that can be added to a life insurance policy to provide additional coverage or benefits. Common riders include waiver of premium, accelerated death benefit and return of premium options. Protective Life offers seven rider options.
Rider | Description |
|---|---|
Accidental Death Benefit Rider | Provides an additional benefit in the event of accidental death. People who work dangerous jobs or in hazardous environments may purchase this rider to provide extra protection in case of an untimely death. |
Accelerated Death Benefit Rider | Allows the policyholder to access a portion of their death benefit while they’re still living if they have been diagnosed with a chronic, critical or terminal illness. The funds can be used to cover medical costs or other expenses associated with the disease. |
Waiver of Premium Rider | If you become disabled, can’t work and can't afford to pay your life insurance premiums, the waiver of premium rider can provide you with financial help. It ensures your policy remains in force and that your beneficiaries will receive the death benefits due to them. |
Disability Income Rider | Provides the policyholder with a monthly income if they become disabled and can’t work. |
Additional Purchase Option Rider (Guaranteed Insurability Rider) | Allows you to purchase additional coverage at predetermined times without having to provide additional proof of insurability. This option enables individuals to purchase additional coverage when their needs change without having to go through the underwriting process. |
Term Insurance Rider | Provides individuals with coverage that meets their short-term needs and is often used to provide coverage until they can establish a permanent policy. |
Children's Term Rider | This coverage is usually available for children 15 days to 18 to 25 years. It provides a low-cost form of life insurance that can be purchased in addition to a policyholder's existing life insurance policy. The coverage typically lasts until age 25 and is designed to provide financial protection for the policyholder's children. |
Once you understand the available products, the next step is to learn how to purchase a policy. If your application to Protective Life is denied, it's also important to know the steps to take when dealing with rejection. In this section, we discuss both scenarios.
Conducting research is the best place to start when looking for a life insurance policy. Protective Life Insurance's online resources, such as the life insurance calculator, policy finder tool or term life quote estimate generator, can help identify the right policy for you. You can also call an agent at 1-844-733-5433 to learn more.
It's important to shop around and compare quotes even if you find a policy that meets your needs. Various factors, like your age and gender, whether or not you smoke, your lifestyle, medical history and overall health, can affect your premiums. By exploring your options, you may find a policy with the coverage you need at a rate that fits your budget.
After you complete your application and the required health check (which may include a phone interview and an in-person medical exam), Protective Life Life Insurance will review your information and let you know if your policy is approved.
Once you receive your policy, you can review the details with your agent.
Most applicants need a medical exam, especially for coverage above $250,000. The exam is free and typically scheduled within 7-10 days of your application.
What to expect during your exam:
The exam takes 30-45 minutes and happens at your home or workplace. Results usually return within one week.
Protective Life's claims process helps ensure your loved ones can access benefits efficiently during a difficult time.
Beneficiaries should contact Protective Life's Claims Department at 1-800-424-1592 or visit the Protective Claims Center online. Protective Life sends a comprehensive claim packet within two to five business days containing necessary forms and submission instructions.
Required Documentation
Protective Life needs specific documents to verify eligibility and process claims efficiently:
Processing Timeline
Protective Life typically reviews complete claims within two to three weeks, though timing varies based on complexity and state regulations. Most straightforward cases process quickly once all documentation arrives.
Factors that may extend processing:
Protective Life is a reputable U.S. life insurance provider offering affordable rates and multiple plan options, including term, whole and universal life insurance. The company’s A+ AM Best rating and solid customer satisfaction scores underscore its reliability. While a medical exam is required for most policies, Protective Life’s broad coverage limits, policy options and riders offer flexibility.
Based on our Protective life insurance review, this company is best suited for people seeking flexibility in coverage to meet their evolving needs over time.
MoneyGeek answered the most commonly asked questions about Protective Life’s life insurance policies.
Yes, Protective Life insurance has cash value components you can borrow against (available for whole and universal life policies). The loan amount depends on the policy's cash value and the insurer's loan terms and conditions. Interest will accrue if you take out a loan, and the loan balance reduces the death benefit.
Protective Life Life Insurance's maximum coverage amount varies based on underwriting approval and your insurability. Some individuals could be eligible for up to $10 million, while others could be eligible for $50 million.
Protective doesn’t pay policyholders dividends because it’s not a mutual company. You can contact the company representative for further details about this question.
Protective Life may offer coverage to those with chronic illnesses like cancer. Your health condition will impact your life insurance premium. MoneyGeek recommends that you contact your agent to confirm your eligibility if you have a chronic illness.
Generally, those insured for more than two years are eligible for a claim in the event of a suicide. Protective Life's policy may vary, so it's best to contact the company or an insurance agent for more information.
Generally, those insured for more than two years are eligible for a claim in the event of a suicide. However, Protective Life's policy may vary, so it's best to contact the company or an insurance agent for more information.
Comparing life insurance companies means cutting through marketing promises to find what actually matters for your family's financial protection. You need to know if you can afford the premiums, trust the company to pay claims, and get the coverage that fits your situation. We focused our Protective Life analysis on these three critical factors.
We used three key categories to rate Protective Life insurance, with the company earning up to five points for each category. We applied the following score weightings:
Our Rate Comparison Approach
We used a standard profile to obtain life insurance quotes:
This profile helps create consistent rate comparisons across insurers. We modified the profile by age, gender, height, weight, tobacco use and health rating to collect various quotes and determine average Protective Life costs for several customer types.
Coverage amounts analyzed:
We collected quotes for varying coverage amounts to understand how Protective's pricing scales with different policy sizes. This approach shows you how the company's rates compare, whether you need basic coverage or higher protection levels.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
