Protective Life Guaranteed Universal Life Insurance Reviews

Protective Life Guaranteed Universal Life Insurance Reviews

Will Protective be the best life insurance company for your situation? Protective Life is is a well respected carrier and one of the top life insurance companies available today, but are they the right company for you? We hope to answer that question with our Protective Life Guaranteed Universal Life Insurance Reviews article. By the end, you’ll be able to make an informed decision about them. Protective Life’s GUL product is called the Custom Choice UL and it’s their main GUL product that we’ll be reviewing today.

Protective Life Guaranteed Universal Life Insurance Reviews

Just know that this post is just one of many GUL reviews. We have a huge series of reviews for the top companies that sell guaranteed universal life insurance.  To learn more about GUL products (also known as Term to 100 or Lifetime Term) please read an overview of GUL  here.

What company is the best?

Are you just looking for the best Guaranteed Universal Life insurance companies? We reviewed the top rated GUL companies right here.

Protective Life Life Insurance Company

Financial Strength
Review Summary

The Protective life insurance company has an excellent record with working with their clients and providing shoppers some of the lowest life insurance rates. Looking at testimonials, Protective has a reputation for being flexible and providing excellent service.

protective life insurance company

Protective Life Overview

Protective Life Insurance Company has been in the life insurance business for over a century. Governor William Dorsey Jelks founded Protective Life in 1907 and in 1909- paid out their first death claim. Fast forward to 2015 and Protective Life was acquired by the Dai-ichi Life Insurance company. 


Guaranteed Universal Life (GUL) is a type of universal life insurance- but doesn’t have the market risks of UL.

Your premiums remain the same with GUL just like term life. With a GUL, you get coverage with a “no-lapse” guarantee. This means that if you pay your insurance premiums, you’ll always be covered. GUL is not made for cash value and it resembles and functions similarly to term life insurance. Term life insurance only covers you for a set number of years. GUL covers you to a specific age such as: Age 90, 95, 100, 110, or 121.

Protective Life GUL Products

Protective Life offers life insurance shoppers lifetime coverage with their guaranteed universal life insurance product called: Custom Choice UL

Protective Life Custom Choice UL Overview

Issue Ages

Ages 18 - 85

Minimum Benefit Amount


Coverage Lengths

Ages 90, 95, 100, 105, 110 and 121

Maximum Benefit Amount

Over $10,000,000

>>Read more about getting coverage to specific ages like:

Protective Life Financial Strength

Financial Strength Ratings

  • AM Best: A+
  • Moody's: A2
  • Standard & Poor's: AA-
  • Fitch: N/A

How to choose? If you’re comparing companies & looking to choose from two carriers, one rated A+ and one rated A++, either one is likely to be there when you need it. However, if you’re picking carriers that are rated B+ and A+, financial strength could factor in your buying decision. Try to avoid companies that 1 or more financial agencies rate as potentially vulnerable.

Health Class Ratings

Life insurance classifications are important because they affect your premium. The better your health class rating, the lower your premium will be with. All companies (including Protective Life) classify you differently.

These are the health classes that are offered with Protective Life:

  • Preferred Best
  • Preferred
  • Standard
  • Non Tobacco & Tobacco

Sample Rates

Now let’s look at how much the Protective Custom Choice UL can cost. Below are some sample monthly rates for a healthy non smoking 46 year old man.

Death BenefitTo Age 90To Age 100To Age 120

Make sure to use an independent life insurance agent that can shop from all the top life insurance companies. They will be able to provide you unbiased recommendations based on your specific health, age, and needs.

Life insurance rates depend on many factors. The life insurance company you choose is a major factor because each company rates you differently. Someone with diabetes may qualify for different rates depending on each company they apply with.

Learn more about life insurance shopping.


  • Benefits
  • Fast: Protective is faster with underwriting and issuing policies compared to the competition. 
  • Competitive: Protective Life’s rates are competitive across all ages and health classes. Protective is one of the best carriers for shoppers age 45 or older.
  • Underwriting: Protective is fair and is pretty forgiving overall with their medical underwriting. In other words, Protective isn’t a strict company.
  • $50,000: Protective offers coverage amounts as low as $50,000 for their GUL policies which isn’t common.


  • Weaknesses of Protective Life
  • One of Many: Protective Life is just one of many life insurance companies in the market. They don’t offer every option and they aren’t always priced the best. Depending on your health and age- another carrier may give you a better deal.
  • Tobacco: Protective’s life insurance rates have a tendency to be higher than average for smokers and tobacco users.

Underwriting Information

Not all life insurance companies will look at you the same. Protective Life and every other company has their own underwriting guidelines. Here are Protective Life’s underwriting strengths and weaknesses:


These conditions typically get a better rating compared to the competition:

  • Cancer: Can get approved when some other companies will decline.
  • Coronary Heart Disease: Another condition that Protective may approve you when some other companies will decline.
  • Tobacco: Protective offers a "Preferred Tobacco Class"


These conditions may get a better rating with another carrier:

  • Overweight: Some other companies look more favorable based on their Height and Weight charts.

Life insurance underwriting is the process of a company looking at the level of risk you present to the insurer. Once they can determine your risk level- they can decide the cost of the premium for you. This is similar to how a car insurance company will ask you if you have had any previous moving violations, accidents, DUI or license suspensions before providing you your final rate.

Learn more: Underwriting

Life Insurance Riders

Let’s look at what life insurance riders are available with the Protective Life guaranteed universal life insurance policy.

  • Terminal Illness Rider
  • Accidental Death Rider
  • Disability Benefit Rider
  • Children's Term Rider
  • Accelerated Death Benefit
  • Extended Care Rider
  • Income Provider Option

Life insurance riders are some additional benefits that can be added to a life insurance policy. Some riders are included for free and some are an additional cost. These riders provide you the ability to increase or limit the insurance coverage of your policy. Not all companies offer every rider.

Learn more: Life Insurance Riders

How to buy the best Guaranteed Universal Life policy?

We cannot stress enough the importance of using an independent life insurance agent to help you choose the right GUL product at the most affordable price possible. 

Independent life insurance agents have access to multiple companies. We know which life insurers offer the best rates when it comes to buying guaranteed universal life insurance.

We hope this article gives you a good overview of guaranteed universal life insurance. GUL policies are a great solution for many shoppers that can provide protection for your loved ones.

About Life Insurance Blog

Life Insurance Blog is an impartial life insurance broker who represents dozens of life insurance companies. We help our customers pick the best life insurance carrier and options that’s right for them. We do not push any companies because we have access to all the top life insurance companies. We don’t try to put shoppers into a plan that is not suitable for their goals and needs. Our number one concern is our clients and future policyholders.

We offer you free life insurance consultations and work with you to understand your goals and then help you with an appropriate recommendation.  So, what are you waiting for?  Contact us today or visit our Life Insurance Quotes page and see how we can help you!

Michael Quinn
Michael is a licensed life insurance agent, expert & owner of Life Insurance Blog. LIB has helped thousands of shoppers understand life insurance and secure affordable coverage.

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