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Protective life insurance review 2021

18 to 75

Issue Age

$100,000 to $10,000,000



Medical Exam Required


Policies Term, Whole, Universal, Variable
Coverage maximum $10,000,000
Term lengths 10, 15, 20, 25, 30, 35, 40 years
Medical exam required Yes
Available states Not available in New York
Issue age 18 - 65 years old


  • Lenient underwriting
  • Rate reconsideration
  • Financial strength


  • Slow approval process
  • Lower tolerance for smoking
Riders No info available

Review by

Katia Iervasi is a staff writer who hails from Australia and now calls New York home. Her writing and analysis has been featured on sites like Forbes, Best Company and Financial Advisor around the world. Armed with a BA in Communication and a journalistic eye for detail, she navigates insurance and finance topics for Finder, so you can splash your cash smartly (and be a pro when the subject pops up at dinner parties).

Expert review

Protective life insurance offers some of the most competitively priced policies in the country, along with high approval rates for those with health conditions.

Protective is also one of the few to offer 40-year term life policies, helping you get fixed premiums longer. However, the company isn’t as lenient to former smokers, and the application process can take three to six weeks, longer than usual.

So if you need instant or no-medical exam policies, you’ll want to look elsewhere. But if you’re looking for long-term options or low rates, Protective is a solid company to consider.

This article was reviewed by Andrew Flueckiger, a member of the Finder Editorial Review Board and certified insurance counselor and licensed insurance agent in five states.

Protective life insurance rates

We pulled 2021 sample rates for Protective life for a $500,000, 20-year term policy for a healthy man and woman. Rates a pretty competitive, with all rates lower than average up until 65 for a policy of this size and length.


Factors that affect your rate with Protective

Protective’s best rates are reserved for people who meet strict underwriting standards:

  • Blood pressure. Preferred rates go to those with blood pressure at or below 135/85 if you’re under age 60 or 140/85 for ages 61 to 70.
  • Cholesterol. Protective focuses on the ratio of good to bad cholesterol, so you might qualify for preferred rates even if with cholesterol numbers as high as 275.
  • Driving record. DWIs, DUIs and suspensions within five years or more than two moving violations in three years may not qualify for preferred rates.
  • Family history. You can get preferred rates if you have no family medical history of death from cancer, heart disease or cardiac conditions before age 60.
  • Tobacco or substance use. The best rates go to those who haven’t smoked within five years and have no substance abuse history, but Protective allows six celebratory cigars.

How to get a quote from Protective life insurance

You can get a quote for term life policies online only, which is an unusual lack of phone support for this policy:

  1. Go to the Protective Life homepage. Hover over Life Insurance located on the top ribbon and click Term Life. Then, click Get a term life quote.
  2. Enter your state, DOB, gender, coverage amount, plan, height, weight, health and whether you use tobacco. Click Get quote.
  3. You’ll see several options, click Apply Now below the plan that interests you.
  4. Call Protective at 844-733-5433 to speak with an agent about your whole, permanent or universal policy quote.

I’ve been approved. What happens next?

Protective’s underwriting can take three to six weeks for your application to get fully reviewed. Anything over four weeks is unusually long for an insurer’s approval process.

Once approved, your coverage will go into effect and you can register for your online account.

Protective offers term and permanent life

Protective’s life insurance lineup includes permanent policies that you won’t find with every insurer. Plans offered:

  • Term life insurance. Choose flexible terms from 10 to 40 years and coverage ranging from $100,000 to $5 million. The policy also comes with level premiums and can convert to a permanent plan without a medical exam.
  • Variable life insurance. Along with lifelong protection, this policy builds cash value from professionally managed investments. You can adjust your premiums and death benefit or borrow money once you build enough cash value.
  • Universal life insurance. Protective offers three types of universal life policies, custom choice universal life, variable universal life, and indexed universal life. All of these policies have cash value, adjustable premiums and death benefits — they differ in how your money is invested and coverage options.

Protective life insurance add-ons

Like most major insurers, Protective lets you customize your coverage with riders like:

  • Accelerated death benefit rider. Offers an early payout if you’re diagnosed with a chronic, critical or terminal illness.
  • Accidental death benefit rider. Pays an extra death benefit if you die from an accident.
  • Child rider. Covers a child without taking out a separate policy.
  • Disability income benefit rider. Pays out a percentage of your policy as a monthly benefit if you become fully disabled and can’t work.
  • Guaranteed insurability rider. Lets you purchase additional life insurance without any medical questions.
  • Term insurance rider. Adds term life insurance on top of your current coverage for a specific period.
  • Waiver-of-premium rider. Pauses your premiums if you become disabled or unable to work for a period of time.

Protective life insurance reviews are mixed

Protective Life isn’t accredited with the Better Business Bureau (BBB), but holds an A+ rating for customer engagement, suggesting solid support. Its negative customer reviews cite billing and communication issues, but Protective promptly addresses all reviews with low star ratings.

AM Best financial rating A+
BBB accredited No
BBB rating A+
1.26/5 out of 34 customer reviews
Customer reviews verified as of 30 June 2021

How Protective compares to other insurers

Protective Life offers universal and variable life policies that you can’t find everywhere, and its 40-year term life offering is an unheard-of term length.

The company also insures people with pre-existing health conditions, and you can get your rate reconsidered if your health improves within a year of buying coverage. Many companies aren’t as lenient with health problems.

Also, a healthy, 30-year-old man would pay $19 a month for a $500,000, 20-year term policy with Protective, which is low according to our rate comparisons. On average, the same person would pay $17 a month for a $250,000, 20-year term policy.

However, you could wait longer than the usual three to four weeks for policy approval.

Compare life insurance companies like Protective

Wondering how Protective measures up to other companies? Tap the Compare box to see features for up to four companies side by side.

Name Product Issue age Minimum Coverage Maximum Coverage Term Lengths Medical Exam Required
18 - 60 years old
5, 10, 15, 20, 25 and 30 years
Compare 40+ insurers and apply online to get the lowest possible price — no medical exam required.
Policygenius - Life Insurance
18 - 85 years old
10, 15, 20, 25, 30 years
Depends on provider and policy
Compare 12+ top insurers side-by-side to get the best possible deal, and shop return of premium policies online.
18 - 60 years old
10, 15, 20, 25, 30 years
Get a quote in less than 10 minutes with on-the-spot approval and no medical exam.
Everyday Life
20 - 75 years old
10, 15, 20, 25, 30, 35 and 40 years.
Ladder multiple life insurance policies to save on the coverage you need for all your debts.
20 - 60 years old
10, 15, 20, 25 or 30 years
No, for coverage up to $3M
Apply for term life insurance online without the medical exam. Get an instant decision and adjust your coverage at no charge.

Compare up to 4 providers

Life insurance ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

Our experts analyze life insurance companies to help you to find the strongest possible policy and premium for your family’s needs. We assess their financial strength, customer satisfaction, policy features and riders. We then give each insurer a score between one and five stars that reflects their offering and reputation in the industry. Protective receives a three and a half out of five stars for a higher than the average number of complaints and less than stellar customer support.

Learn more about our methodology here.

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