Legal & General vs. Protective Life

When you compare these insurers side by side, the difference comes down to their policy options.

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Formerly known as Banner Life, Legal & General and Protective Life share similarities in terms of riders, rates and customer reputations. But if you’re in the market for lifelong coverage, Protective Life has a variety of permanent policies to offer.

Life insurance products with Legal & General and Protective Life

Legal & General
Protective Life
Term
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Whole
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Universal
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Variable
Variable universal
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Indexed universal
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Final expense
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Costs

The rate you’re offered reflects your age, gender, occupation and lifestyle. But based on our sample rates, Legal & General and Protective Life have similar price points.

If you’re a healthy nonsmoker, here’s what you might pay monthly for a $250,000, 20-year term life policy.

Gender Age
Legal & General
Protective Life
Male 20
$15.81
$15.96
Male 30
$15.95
$15.96
Male 40
$21.61
$21.80
Male 50
$47.79
$48.32
Male 60
$124.70
$123.30

Gender Age
Legal & General
Protective Life
Female 20
$12.98
$12.99
Female 30
$13.48
$13.49
Female 40
$18.54
$18.55
Female 50
$37.15
$37.56
Female 60
$88.15
$89.23

*Based on sample rates from Policygenius, August 2019.

Policy riders

Both insurers allow policyholders to customize their coverage with common riders. If you’re looking for a policy with more living benefits, you might want to review other providers.

Legal & General Riders

  • Waiver of premium rider
  • Accelerated death benefit rider
  • Conversion rider
  • Child rider
  • Term laddering rider
  • Flexible payment schedule rider

Protective Life Riders

  • Waiver of premium rider
  • Accelerated death benefit rider
  • Accidental death benefit rider
  • Child rider
  • Disability income rider
  • Term insurance rider
  • Guaranteed insurability rider

Financial strength

When you’re comparing life insurance companies, consider their financial strength. Legal & General and Protective Life are financially stable choices, earning top ratings with the major rating agencies. This means they have the cash reserves to pay out claims.

In terms of customer satisfaction, Protective Life ranked seventh of 23 insurers surveyed in J.D. Power’s latest life insurance study. Legal & General wasn’t part of the sample set.

Legal & General
Protective Life
A.M. Best A+ (Superior) A+ (Superior)
Moody’s N/A A1 (Good)
Standard & Poor’s AA- (Very strong) AA- (Very strong)
Fitch AA- (High quality) A+ (Very high quality)
J.D. Power N/A 4 out of 5 circles or “better than most”

Customer reviews and reputation

Both insurers boast an A+ rating with the Better Business Bureau (BBB) for its customer service and transparency. The BBB records three complaints in the past three years for Legal & General and 51 for Protective Life — though these reflect each company as a whole, and not only its life insurance department. Most of the complaints revolved around communication issues and slow claims processes.

Bottom line

Legal & General and Protective Life are financially strong insurers with similar rate structures, so the choice might come down to the life insurance policy you’re looking for. Legal & General keeps it simple with term, universal and final expense insurance, while Protective Life has a wider product line.

To ensure you’re getting the best possible policy, compare life insurance providers.

Compare life insurance providers

Name Product Issue Ages Coverage Range Medical Exam Required State Availability
18 - 85 years old
$10,000 to $10,000,000+
Depends on provider and policy
All 50 states
Compare affordable quotes from 12+ A-rated life insurance companies side-by-side.
21 - 54 years old
$50,000 to $1,000,000
No
Not available in Alaska or New York
Affordable 2-, 10- and 20-year term life insurance policies. Instant quotes and no medical exams.
20 to 60 years old
$100,000 to $8,000,000
No
Not available in New York
Term life insurance with no policy fees and the freedom to cancel anytime. Simple application process that can get you approved for coverage instantly.
18 - 64 years old
$100,000 to $3,000,000
No
All 50 states
Customized term life insurance policies up to $3 million, no medical exam for certain applicants.
25 - 60 years old
$100,000 to $5,000,000
No
Available in all states except for Montana
Offers term life insurance with accelerated underwriting. No-exam coverage up to $1,000,000 for those who qualify.

Compare up to 4 providers

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