Protective Life Insurance
Protective Life Insurance is a company that was established by a former governor of Alabama, a man named William Dorsey Jelks. Founded in 1907, it is a company that focuses heavily on the different values that underlie a trusting insurer-client relationship. The company remains loyal to the concept of fidelity, and serves the clients, customers, shareholders, and employees of the company faithfully. The company began to expand in the second half of the 1920s, focusing on an expansion policy that moved their headquarters to Birmingham, Alabama. Today, Protective Life Insurance is also the parent company of two other, smaller firms: United Investors Life Insurance company and a small brokerage subsidiary called West Coast Life.
The company focuses mainly on life insurance as it the primary form of insurance that is offered to investors. However, there are many different types of life insurance policies that investors can choose from. Choosing the proper type of life insurance policy is very important, because without careful consideration, an individual may spend too much or too little on his or her insurance policy. The first type of insurance policy that is offered by Protective is term life insurance and term-like life insurance. These types of policies are very customizable, and they offer individuals good alternatives to permanent life insurance options. If the individual dies while his life insurance policy is still good, then his or her beneficiary is guaranteed the payout of the life insurance. Often, these types of policies are also renewable, giving the individual the opportunity to renew or convert the life insurance policy at the end of the term.
Protective Life Insurance also offers universal life insurance. Universal life insurance is life insurance that is often bought in the long term to protect an individual for the duration of his or her life. There is real opportunity for the life insurance policy to accumulate cash value, and for the individual to adjust and change the individuals who receive the death benefit. The individual who holds the policy can also protect him or herself from voiding the policy if he or she allows the policy to lapse by purchasing lapse protection.
One of the more popular types of insurance is Joint Survivorship insurance. Protective Life Insurance offers this kind of insurance to their clients. The Joint Survivorship insurance or the second-to-die insurance offers protection to two individuals, protecting them in the case of the other’s death. This is usually used for a husband and wife, but it does not need to be. The death benefit is paid upon the death of the second insured individual. Some individuals prefer this type of insurance because it is simpler than purchasing different types of insurance for different individuals. In this way, both of the individuals can be protected, and their loved ones as well. This can save the couple money and protect them with a policy that is designed especially for them. The company recognizes that no two situations are alike, and therefore they must be treated differently and with care.
