The bottom line
Protective offers a competitively-priced guaranteed universal life insurance option for people who need lifetime coverage, plus affordable term life insurance for a variety of ages.
Competitive rates for all ages and health classifications
Good for people with mental health conditions, kidney conditions, and some cancers, including prostate cancer
Term lengths up to 40 years
Not available in New York
Not great for people who have had bankruptcy, marijuana users, or visa holders
No no-medical-exam policy options
Basic coverages offered
Term life insurance: Classic Choice Term is Protective’s term life insurance policy. Terms are available between 10 years and 40 years. Minimum coverage is $100,000.
Universal life insurance: Protective offers several universal life insurance policies, including Protective Executive UL, Protective Advantage Choice UL, and Protective Custom Choice UL. Its guaranteed universal life insurance offering is called Protective Lifetime Assurance UL.
Indexed universal life insurance: Protective Indexed Choice UL is Protective’s indexed universal life policy. (Note: This product is not available through the Policygenius marketplace.)
Variable universal life insurance: Protective Strategic Objectives II VUL is Protective’s variable universal life insurance policy. (Note: This product is not available through the Policygenius marketplace.)
Additional coverages offered
Terminal illness accelerated death benefit endorsement: Also called an accelerated death benefit rider, this rider is included at no extra cost on term policies and provides part of the death benefit — 60% of it, up to $1 million — if you’re diagnosed with a qualifying terminal illness.
Children’s term life rider: For an additional cost, the child rider provides life insurance coverage to the insured’s children, up to $25,000 per child.
Waiver of premium rider: For an additional cost, the waiver of premium rider waives premiums during a period of disability.
Accidental death benefit rider: For an additional cost, this rider pays out an additional death benefit in case of death by accidental injuries.
Our price rating scale looks at life insurance rates for a sample 20-year term policy with a $1 million coverage for a 35-year-old female non-smoker with a Standard Plus risk classification, the rating an insurance company gives you that determines your rates (if a company doesn't have a Standard Plus rating, we use its Standard rates). The quote we got from Protective puts it in the least expensive category for our rating system.
Protective also scored very well on our customer experience scale. According to the data from the National Association of Insurance Commissioners (NAIC) complaint index, Protective has a below-average complaint rate of 0.42, meaning it receives 58% fewer complaints than the average life insurance company.
Our transparency rating scale measures how easily shoppers and policyholders can find information about Protective on its website. Protective’s website has several clear ways to contact the company, including a chat bot, and shares financial ratings including A.M. Best, Standard & Poor’s, Moody’s, and Fitch. However, for Protective’s customer-facing website, we’d love to see policy details more clearly available, as well as average rates for its policies.
Our financial strength rating is a weighted combination of three industry-leading metrics to measure a company’s financial health: A.M. Best, Standard & Poor’s, and Moody’s. Protective rates well on all three, getting an A+ from A.M. Best, an AA- from S&P, and an A1 from Moody’s.
A closer look at Protective life insurance
Who is Protective best for?
While Protective offers competitive rates for many people across ages and health classifications, it's also the best choice for people with certain health conditions, including mental health diagnoses and prostate cancer. People with kidney conditions, including kidney disease and kidney transplants, will likely find their best rates with Protective.
What makes Protective unique?
Protective’s term length offerings of 35 years and 40 years are rare in the industry, making Protective a great choice for people who need longer coverage periods. And for people who need lifetime coverage, Protective’s guaranteed universal life insurance product is one of the most affordable on the market.
Who should consider a different life insurance company?
Residents of New York State cannot buy term life insurance from Protective. People who have experienced bankruptcy or who use marijuana will also find their best rates elsewhere. Finally, people who want coverage for their non-working spouse will likely be able to get more coverage with another insurer: Protective only offers non-working spouses up to 50% of their spouse’s coverage, while many other companies will match 100% of the working spouse’s coverage amount.
Protective life insurance rates
The chart below shows average monthly premium prices for a 20-year term life insurance policy with $500,000 in coverage for non-smokers in a Preferred health classification; quotes are based on the Policygenius Life Insurance Price Index methodology.
Protective history, reputation, and social responsibility
Protective Life Insurance Company was founded in 1907 in Birmingham, Alabama. By 1983, the company celebrated its 50th acquisition, and several more in the coming decades would make it one of the largest life insurance companies in the country. 
In 2015, Dai-ichi Life Insurance Company, Japan’s second-largest private insurer, purchased Protective, making it a wholly owned U.S. subsidiary. As of 2022, the company has over 12 million customers and 3,700 employees. 
In 2022, Protective released its second sustainability report, with a focus on its mission to protect “business, people, and community.” One highlight from the report is the company’s Protecting Good initiative, which aims to connect and support the community around Protective Stadium in Birmingham. The company also established a Sustainability Taskforce and raised its minimum wage to $18. 
Protective vs. other life insurance companies
Compare Protective to similar life insurance companies using the table below.
Frequently asked questions
Is Protective life insurance a good company?
Yes, Protective is a highly-rated life insurance company with high financial ratings from respected organizations and over 12 million customers.
Is Protective life insurance legit?
Yes, Protective is a legitimate life insurance company. It has been in operation since 1907 and since 2015 is a U.S. subsidiary of Dai-ichi Life Insurance Company, Japan’s second-largest private insurer.
Is Protective life insurance a mutual company?
Protective is not a mutual company and does not pay dividends to policyholders. It is wholly owned by Dai-ichi Life Insurance Company.
How do I contact Protective?
To contact Protective, including the claims support team, call 800-866-9933 or visit the Protective website.
Logan Sachon is a former senior managing editor of life insurance and research at Policygenius. As a journalist, her work has appeared in The Guardian, Business Insider, CNN Money, BuzzFeed, Money Under 30, VICE, New York Magazine, and elsewhere.
Adam Morgan is an editorial director at Policygenius who leads the life insurance team. Previously, he led editorial teams matrixed across multiple financial publications at Red Ventures — including Bankrate, NextAdvisor, Million Mile Secrets, and others. As a journalist, his work has appeared in Esquire, Scientific American, The Guardian, Los Angeles Times, and elsewhere.
Questions about this page? Email us at email@example.com.