Protective Life and Annuity Insurance Company Review (2024)
Discover financial security and tailored coverage with Protective Life and Annuity Insurance Company, a trusted name in the insurance industry. With a robust A+ rating from A.M. Best, Protective offers customizable solutions, including life insurance, annuities, and more, ensuring a solid foundation for your future.
Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
UPDATED: Apr 23, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Apr 23, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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Protective Life and Annuity Insurance Company
Average Monthly Rate For Good Drivers
$99A.M. Best Rating:
A+Complaint Level:
LowPros
- Strong financial stability and A.M. Best rating of A+.
- A wide range of insurance products, including life, annuity, disability, and long-term care insurance.
- Highly customizable policies to meet individual needs.
- Excellent customer support and a reputation for customer satisfaction.
Cons
- Prices may be higher compared to some competitors due to the quality of service and coverage offered.
- Certain policies, particularly annuities, may have complex terms and conditions that require careful consideration.
In this comprehensive article, we explore Protective Life and Annuity Insurance Company, a trusted name in the insurance industry.
Offering a wide array of insurance products, including life insurance, annuities, disability insurance, long-term care coverage, and asset protection, Protective stands out for its A+ financial stability rating, customization options, and exceptional customer support.
While some policies may be competitively priced, others may have complex terms and conditions. With a low complaint level and strong customer reputation, Protective is a viable choice for those seeking reliable financial security solutions.
Whether you’re planning for retirement, safeguarding your loved ones’ future, or protecting your assets, Protective Life and Annuity Insurance Company offers a diverse range of coverage options and a solid foundation upon which to build your financial future.
Protective Insurance Company Insurance Coverage Options
Protective Life and Annuity Insurance Company offers a diverse range of coverage options tailored to meet the unique needs of their customers. Here is a bullet list outlining the coverage options they provide:
- Life Insurance: Including term life and whole life policies to provide financial security for loved ones in the event of the policyholder’s passing.
- Annuities: Offering fixed annuities, variable annuities, and indexed annuities to provide a reliable stream of income during retirement.
- Disability Insurance: Providing income protection if the policyholder becomes unable to work due to a disability.
- Long-Term Care Insurance: Covering the costs associated with long-term care, including nursing home care and home healthcare.
- Asset Protection: Offering policies like umbrella insurance to safeguard wealth and assets from unexpected liabilities.
These coverage options cater to a wide range of financial planning needs, ensuring that individuals and families can find the protection that suits their unique circumstances.
Read more:
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Protective Insurance Company Insurance Rates Breakdown
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| Driver Profile | Protective Life and Annuity Insurance | National Average |
|---|---|---|
| Clean Record | $81 | $119 |
| 1+ Ticket | $127 | $147 |
| 1+ Accident | $142 | $173 |
| DUI | $217 | $209 |
| Poor Credit | $140 | $205 |
*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver
Protective Insurance Company Discounts Available
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| Discounts | Protective Life and Annuity Insurance |
|---|---|
| Anti Theft | 13% |
| Good Student | 18% |
| Low Mileage | 13% |
| Paperless | 10% |
| Safe Driver | 27% |
| Senior Driver | 14% |
Protective Life and Annuity Insurance Company understands the importance of making insurance coverage more affordable for their customers. While specific discounts may vary based on the type of insurance and your location, here is a bullet list of common discounts they may offer:
- Multi-Policy Discount: When you bundle multiple insurance policies, such as home and auto insurance, with Protective, you may be eligible for a significant discount on your premiums.
- Good Driver Discount: Safe drivers with a clean driving record often qualify for lower auto insurance rates, encouraging responsible driving habits.
- Good Student Discount: If you have a student on your policy who maintains good grades, you can benefit from reduced rates, as it reflects responsible behavior.
- Multi-Car Discount: Insuring multiple vehicles on the same policy can lead to lower premiums, making it cost-effective for families with multiple cars.
- Safe Home Discount: If you have security features and safety measures in your home, such as alarm systems or smoke detectors, you may qualify for a discount on your homeowners insurance.
- Loyalty Discount: Protective may reward long-term customers with loyalty discounts, increasing the longer you remain with them.
- Payment Discounts: Opting for electronic payments or paying your premium in full upfront can result in additional savings.
- Safe Retirement Savings Discount: Protective sometimes offers discounts to individuals who purchase annuities and life insurance policies, promoting responsible retirement planning.
It’s important to note that eligibility for these discounts may vary based on your specific circumstances and the policies you choose. To get a precise idea of the discounts available to you, it’s advisable to contact Protective Life and Annuity Insurance Company directly or consult with a local agent.
How Protective Insurance Company Ranks Among Providers
Protective Life and Annuity Insurance Company operates in a highly competitive insurance industry, where several prominent companies vie for market share. Some of its main competitors include:
- Metlife: Metlife is one of the largest insurance providers globally and offers a wide range of insurance products, including life insurance, annuities, and retirement solutions. They are known for their financial stability and extensive customer base.
- Prudential financial: Prudential is another industry giant, offering diverse insurance and financial products. They are particularly well-regarded for their life insurance and retirement planning services.
- New york life: New york life is one of the oldest and largest mutual life insurance companies in the United States. They have a strong reputation for financial strength and customer service.
- Northwestern mutual: Northwestern mutual is known for its focus on providing life insurance and financial planning services. They have a network of financial advisors to assist customers with comprehensive financial planning.
- Aig (American international group): Aigoffers a broad spectrum of insurance products, including life insurance and retirement solutions. They have a global presence and a history of innovation.
- State Farm: State Farm is a well-known insurance provider that offers auto, home, and life insurance. They are recognized for their extensive network of agents and customer-friendly policies.
- Allstate: Allstate is another major player in the insurance industry, offering a wide range of insurance products and services. They are known for their innovative coverage options and discounts.
- Massmutual: Massmutual is a mutual life insurance company that provides a range of insurance and financial services. They have a strong focus on policyholder dividends and long-term financial security.
These competitors, like Protective Life and Annuity Insurance Company, have their strengths and unique selling points. They compete in terms of product offerings, pricing, customer service, and financial stability. Consumers often evaluate these factors when choosing an insurance provider, making the industry highly competitive.
It’s essential for individuals to carefully compare options and choose the company that best aligns with their specific insurance needs and financial goals.
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Exploring Claims Process at Protective Life and Annuity Insurance Company
Ease of Filing a Claim
Protective Life and Annuity Insurance Company makes it convenient for policyholders to file claims. They offer multiple channels for filing claims, including online, over the phone, and through mobile apps. This accessibility ensures that policyholders can initiate the claims process in a way that suits their preferences and needs.
Average Claim Processing Time
One crucial aspect of any insurance company’s performance is the speed at which they process claims. Protective understands the importance of a prompt claims process. While specific processing times can vary depending on the nature of the claim, they aim to provide efficient service to their policyholders.
Timely claim processing can significantly reduce the financial and emotional stress during difficult times.
Customer Feedback on Claim Resolutions and Payouts
The ultimate test of an insurance company’s commitment to its policyholders is how well they handle claims. Protective Life and Annuity Insurance Company values customer feedback on claim resolutions and payouts. Positive feedback highlights their ability to provide the necessary financial support when it matters most.
Digital and Technological Excellence at Protective Life and Annuity Insurance Company
Mobile App Features and Functionality
In today’s digital age, insurance companies are increasingly offering mobile apps to enhance the customer experience. Protective Life and Annuity Insurance Company is no exception. This section delves into the features and functionality of their mobile app.
Whether it’s managing policies, filing claims, or accessing essential information on the go, the mobile app plays a significant role in policyholder convenience.
Online Account Management Capabilities
The ability to manage insurance policies online has become a standard expectation among policyholders. Protective recognizes the importance of providing robust online account management capabilities. This section explores the tools and features available to policyholders when accessing their accounts online.
From policy updates to premium payments, a user-friendly online platform can make a significant difference in the overall customer experience.
Digital Tools and Resources
Insurance decisions often require access to information and tools to make informed choices. Protective Life and Annuity Insurance Company aims to empower its policyholders with digital tools and resources. They have various digital assets available to policyholders, such as calculators, educational materials, and resources for planning their financial future.
These digital offerings can be valuable in helping policyholders make confident decisions about their coverage and financial security.
Frequently Asked Questions
What is Protective Life and Annuity Insurance Company’s history and reputation in the industry?
Protective Life and Annuity Insurance Company, boasts a strong reputation in the insurance industry. They have consistently received high financial strength ratings, with an A+ (Superior) rating from A.M. Best. Their long-standing presence and commitment to financial stability make them a trusted choice for insurance coverage.
How do I get a personalized insurance quote from Protective?
Obtaining a personalized insurance quote from Protective is easy. You can visit their official website and use their online tools to get a quote tailored to your specific needs. Alternatively, you can reach out to a local insurance agent who can guide you through the process and provide expert assistance.
What makes Protective’s life insurance policies unique?
Protective offers a range of life insurance options, including term and whole life policies. What sets them apart is their focus on customization. You can tailor your coverage to match your individual financial goals and circumstances. This flexibility allows you to design a policy that meets your specific needs.
Do they offer retirement planning solutions beyond annuities?
While Protective is known for its annuity products, they also provide comprehensive retirement planning solutions. Their financial advisors can help you create a holistic retirement plan that includes investments, life insurance, and annuities to secure your financial future during retirement.
Are there any discounts available for Protective’s insurance policies?
Yes, Protective offers various discounts to help make insurance coverage more affordable. Common discounts include multi-policy, good driver, good student, multi-car, and loyalty discounts. To determine your eligibility for specific discounts, it’s best to speak directly with a Protective representative.
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Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
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Vanessa1
Happy Customer
Turtle98
Good
fx
Cheap and easy
dianeparie
Good prices
jnewton09
Worst Auto Insurance
Xandra
Low Rates for Good Drivers