The Protective Life Corporation provides a wide range of investment, specialty and life insurance products, tracing its roots back to the early days of Protective Life Insurance; its flagship company. The company has kept to a strict set of principles throughout its 100 year history, ever since Governor William Dorsey Jelks first founded the company in 1907, during Theodore Roosevelt’s second term as president, paying it’s first death claim two years later.
With more than $448 billion insurance in force as of 2015, the company’s acquisitions include Protective Life and Annuity Insurance Company, West Coast Life, Chase Insurance Group, The combined United Investors Life and Liberty Life, and MONY Life Insurance Company.
How to Prepare Your Client
Protective Life Agent Resources
Agent Benefits Include:
Client Benefits Include:*
Universal Life Insurance
Universal life policy offers flexible premiums and up to lifetime coverage. Guaranteed death benefit, providing premium payments are met and there are no loans or withdrawals against the plan. There is potential for cash value growth (according to current rates) and a cash value account is provided. There is also potential for death benefit to grow with some options and policy loans are allowed.
Custom Choice UL
Custom choice UL offers flexible premium options with coverage of between 10 and 30 years for initial level coverage and options for continuing lifetime coverage thereafter. Policy comes with guaranteed death benefit as long as premium payments are met and no loans or withdrawals in place. cash value growth is limited on these plans and not recommended for cash value growth potential, meaning policy loans, while allowed, are unlikely.
Survivor UL comes with flexible premiums and covers two people with benefit paying after one dies. These plans pay guaranteed death benefits provided there have been regular premium payments and there are no outstanding withdrawals or loans against the plan. The plan gathers cash value according to the amount of premiums and interest rates credited to the account. Policy loans are allowed against this plan.
Offered as an alternative to their Term Life option, Protective Variable UL offers flexible premiums and lifetime coverage. Depending on the policy option, clients may get guaranteed death benefit. Cash value growth isn’t guaranteed, as the premiums are invested in investment funds which are professionally managed. These policies are offered with a cash value account, though cash value depends on account’s performance. Policy loans are allowed on these plans.
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* The information provided is intended for licensed insurance agents only. It is not intended for the purpose of advertising the insurance products to the general public.
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