While some carriers are increasing term rates, we repriced Protective® Classic Choice Term with even lower rates. And, we recently added 35- and 40-year term periods, making Protective one of only three carriers to offer term coverage beyond 30 years. Now that’s a big deal.
We’ve recently launched Protective® Lifetime Assurance UL — our new GUL that offers clients a foundation for lifetime protection. See what our new product can offer clients.
At Protective, we want to assure you that we are committed to doing all we can to support our employees and your business during this unprecedented time. To keep you informed, we have created a COVID-19 Resource Center to house important information and updates. Please bookmark this page and visit it often.
At Protective Life, delivering what’s promised is a decision — one we make every day — and doing the right thing is the foundation of everything we do. Therefore, we wish to inform you that we will be reducing the current interest crediting rate on Protective Advantage Choice UL from 3.75% to 3.50%, for both new business and current in-force business. This change will enable us to continue offering this solid, well-designed life insurance solution that meets our customers’ expectations.
We’re launching several new improvements to our Protective Velocity program that will make doing business with us faster and easier.
Last year, we launched Protective Velocity — our suite of digital capabilities — to make doing business with us even faster and easier. We have recently received updated metrics, and the results speak for themselves.
We have recently updated our Pending Business website to help our distribution partners efficiently and effectively manage their business. We want to make sure we keep our partners updated on the latest developments in their pending business.
Protective Life is proud to offer Protective® Classic Choice Term — one of the most competitively priced term products on the market. Beginning January 13, 2020, you can offer this same great term solution at rates that are an average of 0.99% lower.
The Internal Revenue Service (IRS) recently announced upcoming changes to the per diem limitations for periodic payments received under qualified long-term care insurance policies and certain life insurance policies which offer accelerated death benefits for chronic illness care.
Don’t forget! The new Suitability and Best Interests in Life Insurance and Annuity Transactions regulation, formerly known as “New York Insurance Regulation 187,” goes into effect for life insurance February 1, 2020.