Protective Life covers applicants aged 20 to 80 with term, whole and universal life policies plus multiple riders.
Strong customer experience and financial strength ratings make Protective ideal when you need coverage that adjusts to life changes.
2025 Protective Life Insurance Review: Rates, Pros and Cons
Read our Protective Life insurance review for policy options, pricing, pros and cons in 2025.
Find out if you're overpaying for life insurance below.
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Updated: December 12, 2025
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At a Glance: Protective Life Insurance
Protective
MoneyGeek Rating
4.7/ 5
4.8/5Affordability
4.6/5Customer Experience
4.3/5Coverage Points
Average Monthly Cost
$37 (women); $44 (men)Based on a $500,000 20-year term policy for our sample profile (40-year-old nonsmoker with average weight and health ratings).Average Annual Cost
$443 (women); $532 (men)Based on a $500,000 20-year term policy for our sample profile (40-year-old nonsmoker with average weight and health ratings).
Key Takeaways
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 ranks as MoneyGeek's best life insurance company for 2025 with a score of 4.7 out of 5.
MoneyGeek’s Take: Is Protective Life Right for You?
Protective Life Policy Options Explained
Protective Life offers the three main types of life insurance: term, whole and universal policies.
Term Life Insurance Options
Term life insurance 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.
Protective Classic Choice Term
Protective Classic Choice Term covers you for 10 to 40 years with coverage from $100,000 to $50,000,000. Convert to a permanent policy anytime without a medical exam. This policy includes guaranteed level premiums, income-tax-free death benefits and a terminal illness rider for accelerated benefits (subject to state law). Protective Life term policies are renewable, though premiums increase at renewal.
Term life works well when you need coverage for a specific period. You get affordable premiums and conversion options, providing income-tax-free death benefits to your beneficiaries.
Average Cost of Protective Term Life Insurance
Data filtered by:
10 years
Select
Female
No
| $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 reflect average quotes for applicants with average weight and health conditions. Your premium depends on your health, lifestyle and coverage choices.
Whole Life Insurance Options
Whole life insurance provides lifelong coverage when you pay your premiums. Whole life policies build cash value you can borrow against. Your beneficiaries receive a guaranteed payout when you pass away.
Protective Life's whole life insurance offers lifelong coverage at fixed premiums and builds cash value you can access anytime. This policy includes level premium payments, flexible death benefit options and guaranteed cash value growth.
Whole life insurance provides permanent coverage and builds savings within your policy. It covers funeral expenses, estate taxes and retirement funding needs. Choose your death benefit amount and access your policy's cash value when needed.
Average Cost of Protective Whole Life Insurance
Data filtered by:
40
Male
No
| $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 Options
Universal life insurance (ULI) provides flexibility in premium payments, death benefit levels and investment options. ULI combines death benefit protection with investment account potential. Adjust your death benefit and premiums as your financial situation changes. Protective Life offers three ULI options:
- Fixed account: Any premium you allocate earns interest at a specified rate.
- Indexed account: Credits interest to your policy based on the positive performance of a specific index, with the potential to build up cash value, subject to certain caps and floors.
Protective Custom Choice Universal Life
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.
Variable Universal Life Insurance
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
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 combines flexible death benefits with cash value growth. Adjust your coverage amounts and premiums as your financial situation changes.
Average Cost of Protective Universal Life Insurance
Data filtered by:
40
Male
No
| $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 reflect quotes for applicants with average weight and health ratings. Your premiums depend on your profile, lifestyle, health and coverage amount.
Protective's Life Insurance Riders
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 | 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 | 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 | Provides financial help if you become disabled, can’t work and can't afford to pay your life insurance premiums. It ensures your policy remains in force and that your beneficiaries will receive the death benefits due to them. |
Disability income | Provides the policyholder with a monthly income if they become disabled and can’t work. |
Additional purchase option (Guaranteed Insurability) | 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 | Covers you for a specific period, such as 10, 20 or 30 years. Many people use term insurance as affordable financial protection while building toward permanent coverage. |
Children's term | Covers children from 15 days old to age 18 to 25. Add this low-cost life insurance to your existing policy. Coverage lasts until age 25 and provides financial protection for your children. |
How to Get a Protective Life Insurance Policy
Ready to apply? Here's how to get a Protective Life policy and what to do if your application is declined.
- 1Do Your Research
Start with Protective Life Insurance's online tools: life insurance calculator, policy finder tool or term life quote estimate generator. These tools match you with the right policy. Call an agent at 1-844-733-5433 for personalized guidance.
- 2Compare Quotes
Compare quotes even after finding a policy you like. Your age, gender, smoking status, lifestyle and medical history affect your premiums. Shopping around helps you find coverage at the best rate.
- 3Submit Your Application
Complete your application and required health check (usually a phone interview and medical exam). Protective reviews your information and notifies you of approval.
- 4Wait for Approval
After approval, review your policy details with your agent.
MEDICAL EXAM PROCESS
Most applicants need a medical exam, especially for coverage above $250,000. Protective provides a free exam within seven to 10 days of your application.
Your exam includes:
- Height, weight and vital signs measurement
- Blood and urine samples (tests for health markers and substances)
- Medical history questions
- EKG for applicants over 50 or higher coverage amounts
Exams take 30 to 45 minutes at your home or workplace. Results return within one week.
What to Do if You're Denied Coverage
If Protective Life declines your application, contact your agent to understand why. Better health improves your approval chances and helps you qualify for lower rates. Consider adjusting your diet or exercise habits before reapplying.
Also, explore no-medical-exam life insurance options. These policies cost more and offer limited coverage, but provide protection when you need it.
Protective Life Claims Process
Protective Life helps beneficiaries receive claim benefits quickly. Beneficiaries start claims by calling the Protective Life Claims Department at 1-800-424-1592 or visiting the Protective Claims Center online. Protective sends a claim packet within two to five business days with all necessary forms and instructions.
Required Documentation
Protective Life needs these documents to process a claim:
- Certified copy of the death certificate
- Completed claim forms from the packet
- Original policy document or policy number
- Beneficiary identification and proof of relationship
Send documents by mail, fax or email for claims under $500,000. Claims above $500,000 require additional verification.
Processing Timeline
Protective Life reviews claims within two to three weeks after receiving all documents. State regulations and case complexity extend this timeline.
Processing takes longer when:
- Death occurred within the two-year contestability period
- Documents are missing or incomplete
- Legal or beneficiary disputes exist
Protective Life Insurance Company Review: Bottom Line
Protective Life offers competitive rates across term, whole and universal life insurance. The company's A+ AM Best rating and strong customer satisfaction scores demonstrate reliability. Most policies require a medical exam, though Protective provides coverage up to $50 million with multiple rider options.
Protective Life works best when you need flexible coverage that adapts to life changes.
Protective Life Insurance Policy Review: FAQ
Answers to the most common questions about Protective Life’s policies:
Can you borrow from your Protective Life insurance policy?
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.
What’s the maximum life insurance coverage with Protective Life?
Protective Life's maximum coverage depends on underwriting approval and your insurability. Some qualify for up to $10 million; others for $50 million.
Do life insurance policies from Protective Life pay dividends?
Protective doesn't pay policyholders dividends because it's not a mutual company. Contact a company representative for more information.
Can you get life insurance from Protective Life if you have cancer?
Protective Life evaluates cancer diagnoses case-by-case. Your health condition affects your premium. Contact your agent to discuss eligibility with a chronic illness.
Do life insurance policies from Protective Life cover death by drug overdose?
Most Protective Life policies exclude coverage for drug overdose deaths during the first two policy years. Review your policy's exclusions section or contact your agent for coverage details.
Does Protective Life cover death by suicide?
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.
How We Rated Protective Life Insurance
Comparing life insurance companies means cutting through marketing promises to find what matters for your family's financial protection. You need affordable premiums, a company that pays claims, and coverage that fits your situation. We focused our Protective Life analysis on these three factors.
We evaluated Protective Life insurance across three categories, with up to five points in each. These scores determined the overall rating:
- Affordability (55%): Pricing drives most insurance decisions and receives our highest weight.
- Customer experience (30%): Claims handling and policyholder interactions reveal how insurers perform when you need them.
- Coverage options (15%): Product range and flexibility matter across different life stages.
Our Rate Comparison Approach
We compared rates using a standard profile:
- 40-year-old male
- Nonsmoker
- 5 feet 9 inches tall and 160 pounds
- Average health rating
This profile ensures consistent comparisons across companies. We adjusted age, gender, height, weight, tobacco use and health rating to calculate average Protective costs for different customer types.
Coverage amounts analyzed:
We collected quotes for multiple coverage amounts to show how Protective's pricing scales. Compare rates for basic coverage through higher protection levels.
Related Pages
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!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
sources
- Protective Life. "Custom Choice Universal Life." Accessed October 15, 2025.
- Protective Life. "Indexed Universal Life Insurance." Accessed October 15, 2025.
- Protective Life. "Life Insurance." Accessed October 15, 2025.
- Protective Life. "Life Insurance Riders." Accessed October 15, 2025.
- Protective Life. "Our Brand." Accessed October 15, 2025.
- Protective Life. "Protective® Classic Choice Term." Accessed October 15, 2025.
- Protective Life. "Term Life Insurance." Accessed October 15, 2025.
- Protective Life. "Universal Life Insurance." Accessed October 15, 2025.
- Protective Life. "Variable Life Insurance." Accessed October 15, 2025.
- Protective Life. "Whole Life Insurance." Accessed October 15, 2025.