Protective Life Guaranteed Universal Life Insurance Review

Protective Life Guaranteed Universal Life Insurance Review Kayaks on DockFor instant quotes, showing Protective Life and other leading carriers offering Guaranteed Universal Life Insurance, please use our quote engine tool to your left.

This review of Protective Life’s GUL will provide information needed to evaluate this company.

For a general overview of Guaranteed Universal Life Insurance, please check out our GUL review and the Pros and Cons of Guaranteed Universal Life here.  This product appeals to those who don’t want term insurance for just 20 or 30 years, but want term that doesn’t expire or “term for life”.

Protective Life’s History and Foundation

Protective Life is not a newcomer to the life insurance business.  They were founded in 1907 by Governor William Dorsey Jelks.  They paid their first life insurance claim two years later in 1909. In 2015, they joined a Japanese company – The Dai-ichi Life Insurance Company, Limited.

Protective Life is the parent company of West Coast Life Insurance company (acquired in 1996) , MONY Life Insurance Compay (acquired in 2013), and Lyndon Insurance Group, Inc., which markets specialty insurance products.

Protective Life Guaranteed Universal Life Insurance Review – Strengths and Weaknesses

Protective Life insurance is very strong in the Guaranteed Universal Life Insurance market.  However, like most carriers, they have their “sweet spots”.  They tend to have the best rates for certain ages and health profiles. Also, some carriers tend to be stronger for larger face amounts (death benefit), while others are very competitive with lower face amounts.

Strengths of Protective Life’s GUL

  • Competitive rates across the board, although they tend to the lowest (or among the lowest) for people over the age of 45.
  • Fairly lenient medical underwriting.
  • Decent offers for people with cancer and coronary heart disease, when some other carriers decline.
  • They offer a Preferred Tobacco underwriting class
  • Shorter than average time for an underwritten policy to issue.
  • Offer GUL policies with a face amount as low as $50,000

Weaknesses of Protective Life’s GUL

  • Rates tend to be higher than average for tobacco users.
  • Their build tables are conservative (not the best for overweight people).

For people in excellent health, with a strong family health history, it is very easy to see how Protective Life compares to other carriers.  Keep in mind, with GUL, the life insurance is absolutely guaranteed as long as the premium is paid.  This makes comparisons simple because it just like a guaranteed level term for life.

Just enter your date of birth into the quote engine to see how Protective Life compares to the other leading carriers. Keep in mind, not all carriers offering Guaranteed Universal Life Insurance will appear on the quote engine.  We can provide you a customized comparison quote with ALL the carriers.  Just let us know.

Policy Features and Optional Riders

  • Accidental Death Benefit RiderThis rider provides an additional death benefit to the beneficiary in the event of an accidental death.
  • Children’s Term Rider – Provides a death benefit for all children up to the age of 17  at the time the policy is issued.  Term coverage is available up to age 25.
  • Disability Benefit Rider – This rider provides a monthly benefit (within limits) which will be credited to the policy should you become totally disabled for six months.
  • Income Provider OptionThere is no cost to this option. It simply allows you to choose how the death benefit is paid. It can be paid in one lump sum to your beneficiaries or in a structured payout as a monthly or annual guaranteed income stream.
  • ExtendCare RiderThis rider allows you to accelerate (or advance) a portion of the policy’s death benefit if diagnosed with a qualifying chronic illness. This allows you to pay for medical and other expenses. (Only available with the Protective Advantage Choice UL).

The optional benefits offer by Protective Life are not for everyone, but they are worth considering.  We can ask you the right questions and help you determine if it makes sense to add one or more of the riders. The descriptions above are brief, so we can provide a full description of the riders upon request.  Likewise, we will be glad to provide quotes with rider(s) added to the policy.

Financial Ratings for Protective Life and Subsidiaries

  • AM Best: A+ rating.  A+ is the second highest rating possible.  
  • S & P: AA-.   AA- is the 4th highest rating.
  • Moody’s: A2.  A2 is the 6th highest rating
  • Fitch
  • Comdex score: 85  This is they rank (taking into account all independent financial ratings) compared to all other carriers.

Protective Life has very strong ratings and is one of the leading carriers offering GUL.

An Example of Where Protective Life Would be a Good Fit

Let’s look at Tanya and Victor.  This couple is in their early 50s and have three teenagers.  They each purchased a $1.5 million 20-year term policy that expires in two years.  They realize they will need (and want) life insurance beyond the expiration date of their current term life policies.

They are doing very well financially, but they have a conservative approach to their finances.  They decide to each purchase a guaranteed universal life policy for $1 million.  The “dial-in” guaranteed age they selected is 110.  The rates for Protective Life were among the very lowest available.

This purchase gives them the peace of mind, knowing whatever happens to their health, they have locked in lifetime coverage and guaranteed their beneficiaries will receive a tax-free death benefit.

Summary of Protective Life’s GUL

Overall, Protective Life is very solid financially. They are well diversified and offer a wide range of insurance plans in the group and individual markets.  Protective Life offers very good life and disability insurance plans.

Protective Life’s Guaranteed Universal Life plan is one of their “flagship” products, so they are certainly worth considering.

We will be glad to provide quotes (in addition to those you can obtain yourself on this page) and help you determine if Protective Life’s GUL is a good fit for you.




About Peachtree Insurance Advisors
About Peachtree Insurance Advisors

We work with individuals across the nation to secure the best life insurance rates.

This entry was posted in Guaranteed Universal Life. Bookmark the permalink.

Leave A Reply