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Legal & General vs. Protective Life

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

Updated

Fact checked

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.

Types of life insurance 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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Who has the cheapest rates?

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.

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Compare quotes for life insurance policies starting at $15/month.
How do these quotes work?

What policy riders does each company offer?

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

What are the company’s financial ratings?

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 list of life insurance options.

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

Compare life insurance providers

Name Product Issue age Minimum Coverage Maximum Coverage Term Lengths Medical Exam Required
Prudential
18 - 75 years old
$100,000
$10,000,000
10, 15, 20, 30 years
Yes
Customize your term life insurance with a long list of life and disability riders. Get a free quote on Policygenius.
Transamerica
18 - 75 years old
$25,000
$10,000,000
10, 15, 20, 25, 30 years
Depends on policy
Purchase a policy worth anywhere from $25,000 to $10 million, with the option to skip the medical exam. Get a free quote on Policygenius.
MassMutual
18 - 80 years old
$2,000
$10,000,000
10, 15, 20, 25, 30 years
Depends on policy
Purchase term life insurance up to age 80 with Finder's #1 ranked company. Get a free quote from this A+ rated insurer on Policygenius.
AIG
AIG
20 - 85 years old
$5,000
$2,000,000
10, 15, 20, 25, 30, 35 years
Yes
Buy term life insurance all the way up to age 85, and choose a policy that lasts up to an incredible 35 years. Get a free quote on Policygenius.
John Hancock
18 - 65 years old
$25,000
$1,000,000
10, 15, 20 years
Depends on policy
Score a low rate on term life insurance with discounts and rewards for your healthy habits. Get a free quote on Policygenius.
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