Protective Life Insurance Introduces New Product

February 5, 2013Leave a reply

Protective Custom Choice UL is a flexible-premium universal life insurance policy for clients desiring affordable coverage without cash-value accumulation. It offers flexible initial level death benefit periods ranging from 10-years to lifetime.

Product Features

Initial Level Benefit Period
You can customize the duration of your life insurance coverage. You choose the amount of coverage you want, and an initial level benefit period of anywhere from 10 years all the way up to a lifetime. After the initial level benefit period ends, the guaranteed death benefit will begin to decrease while the premium payment amount remains level. The death benefit amount decreases each year until it reaches the minimum of $10,000. At that point, premiums will increase each year. You have the option to exchange your policy for a permanent universal life option from Protective Life anytime in the first 20 policy years, up to age 70, without proof of underwriting.

Premium Flexibility
With the Protective Custom Choice UL, you have the option of premium flexibility. You can choose to pay a level premium for up to a lifetime, for a certain period of time, or can even adjust premiums to correspond with your expected income level.

Death Benefit Coverage
The death benefit from a Protective Custom Choice UL policy is non-taxable and paid directly to your beneficiaries, helping them cover things like mortgage payments, car and credit card payments, education and many other immediate, recurring or future expenses. With Protective Custom Choice UL, you also have the option of adjusting your death benefit amount without having to buy a new, separate policy, if needs change. After the first policy year, you may increase the death benefit amount, subject to underwriting, or decrease it, subject to minimums and charges after the third policy year.

Lapse Protection Endorsement
The built-in lapse protection, automatically included on each policy, can guarantee death benefit coverage up to the lifetime of the insured based on the premiums paid and the formulas described in the Lapse Protection Endorsement. As long as the Lapse Protection Account value equals or exceeds policy debt, then the policy is guaranteed not to lapse. The lapse protection guarantees the policy death benefit only, not the cash surrender value.


  Product Specifications
Underwriting Classes & Issue Ages    Select Preferred, Preferred, Non-Tobacco, Tobacco  10-Year Plan: 18-75  15-Year Plan: 18-70  20-Year Plan: 18-65 (18-63 for Tobacco)

  25-Year Plan: 18-55 (18-52 for Tobacco)

  30-Year Plan: 18-55 (18-43 for Tobacco)

  Lifetime Plan: 18-85 (18-75 for Select Preferred)

Minimum Face Amount  $100,000
Maturity Age  No stated maturity age. Premiums and charges discontinue after attained age 121.
Monthly Administrative Charge  $5.50 – applies to all policy years. Charge is discontinued after attained age 121.
Monthly Expense Charge  Per $1,000 of initial face amount. Varies by age, gender, and underwriting class. Applies to all policy years. Charge is discontinued after attained age 121.
Cost of Insurance (COI) Charge  Varies by issue age, gender, underwriting class, number of years the policy has been in force, and any applicable ratings. Deducted monthly; no charges after attained age 121.
Withdrawal/Partial Surrender Charge  $25 – surrender charges may also apply on a prorate basis to face decreases.


Liberty Financial Group offers Protective Life insurance products. Please contact us today if you are interested in a policy from Protective Life.

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