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Review: Protective Life |
Company Information
Company History: Founded 1907, Protective Life Insurance and its affiliates sell Term and Permanent Life Insurance to protect individuals and families. ... |
Survey Results
Overall, how satisfied are you, with Protective Life?
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Contact Information
Company Contact Info:
Chairman/President John D. Johns
2801 Highway 280 South
Birmingham, AL 35223
205-268-1000 |
Comments
"Purchased Protective Life whole life insurance policies for my wife and I in 1994. Initially there were high surrender fees and mortality charges. Surrender fees will be gone by next year. The cash values of the policies have increased by 4 to 5 percent a year. At this point after the "mortality and adminstration fees", the yearly increases to the cash value of the policies still exceed the cost of premiums I pay.
Whole life policy is for the long haul. I'm satisfied that the policies afford the needed life insurance coverage, and an increase in the cash value above the costs.
(needed the life insurance - bonus is being able to build a cash value over the long run)
We're not planning on using the cash value of the policies as our main source of retirement income. There are other investments with better returns and much lower fees."
2008-10-25 10:22:52 EST
"During the recession of the 90's I bought a whole life policy from Potective Life.
The coverage is $150,000 on me and $150,000 on my husband. They grossly misrepresented the premium I would pay in year 17. The premium suddenly increased from $80 per month to $480 per month. I am forced to drop the policy because of the exorbitant premium. I paid them without fail for 17 years and I feel unjustly treated. "
2008-06-06 10:00:06 EST
"There are better known and less expensive companies, but customer service is king and these guys do it."
2008-05-24 19:49:48 EST
"The change in payment directives to different collection addresses from different states is a red flag.
The manipulation and acquisition of other insurance companies, Chase Term Insurance in my case, is indicative of a classic buy and drop Wall street investment company.
After researching available information on this company and it's so called subsidiary acquisitions, the vague and incomplete information afforded me was insufficient.
I'm dropping this company as my term insurance carrier while I'm still in a position not to add good money to bad."
2008-01-05 14:54:52 EST
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