Skip to Content
Father and pregnant mother walk with their daughter through a wooded area holding hands.
Orange shield with checkmark icon

Universal life insurance

Universal life insurance is a type of permanent life insurance policy that offers financial protection for the people you love and the potential to earn cash value over time. Call us at 1-844-733-5433.
A young couple touch noses while smiling at each other
Universal life insurance policies offer ...

It’s the flexibility of universal life insurance that attracts many people to this type of policy. Universal life insurance provides flexibility in your premium payments, flexibility in the use of any cash value within the policy, and ultimately, flexibility in the death benefit.

  • Lifetime coverage*
  • The potential for cash value growth
  • Tax-deferred growth on the cash value in your policy - and you can access or borrow against that cash value in the future**
  • Flexible death benefits and premium payments - because you can use your cash value to help with premiums
*Permanent coverage continues as long as required premium payments are made on time.
**Withdrawals and unpaid loans will reduce the cash value and death benefit of the policy.
Is a universal life insurance policy right for you?
  • Do you like the idea of having permanent, lifetime protection?
  • Do you want the potential to build tax-deferred cash value over time to help you with long-term financial goals?
  • Is it useful to you to have the ability to use your cash value to offset premium payments in the future?

If your answer to these questions is “yes,” then you might want to consider a universal life policy. But universal life insurance comes in a variety of types. 

Father tickling son on couch with daughter looking on
Magnifying glass in orange shield

Explore Protective Life’s universal life insurance options

Protective Custom Choice UL
With a Protective® Custom Choice UL policy, you select the amount of coverage you need, along with the initial level benefit period of 10-to-30 years - similar to term life policies.
Variable Universal Life Insurance
Similar to traditional universal life insurance, but premium payments can be allocated among different investment options to offer the potential for even greater cash value accumulation.
Indexed Universal Life Insurance
Offers potential cash value accumulation based on positive changes in the performance of one or more stock market indices, but unlike variable universal life insurance, your earnings are typically protected from downside risk, subject to floors.
Icon of clipboard with checkmark

Which type of universal life insurance fits your needs?

Traditional universal life insurance

Can come with a variety of options but typically offers cash value, flexible premium payments and lifetime coverage.
Pros
  • Offers lifetime death benefit coverage
  • Flexible premiums are typical
  • Minimum guaranteed interest rate provided
  • Most policies offer the potential for cash value growth and access*
Cons
  • May be more expensive than term insurance
  • Many options and features can be confusing
  • Interest rates may not be as high as with other types of cash value life insurance

Variable universal life insurance

Similar to traditional universal life insurance, but premium payments can be allocated among different investment options to offer the potential for even greater cash value accumulation.
Pros
  • Lifetime death benefit coverage provided
  • Flexible premiums are typical
  • Offers cash value growth potential and access*
  • You get to select how your cash value is invested
Cons
  • Investment expenses apply
  • Your policy is at risk if your investments options lose value
  • You may have to pay higher premiums to keep the policy in force

Indexed universal life insurance

Offers potential cash value accumulation based on positive changes in the performance of one or more stock market indices, but unlike variable universal life insurance, your earnings are typically protected from downside risk, subject to floors.
Pros
  • Lifetime death benefit coverage
  • Flexible premiums
  • Cash value growth and access*
  • Downside market protection
Cons
  • Policy fees and expenses might be higher than with other policies
  • Earning potential is lower than variable universal life because most policies subject to cap rates
Icon of laptop with words on screen

Resources for you

The Learning Center can help you on your path to affordable coverage.
Learn more
What is universal life insurance and is it right for your needs?
Policy finder

Not sure what you need? Our policy finder can help in three easy steps.

Calculate needs

Take a minute, and we'll help you calculate your insurance needs.

Orange checkmark icon

Getting a life insurance quote with Protective Life is easy!

1
Calculate needs
2
Get quote
3
Submit application
4
Complete medical exam
5
Application review and acceptance
Customer service representative talking on phone icon

Interested in discussing a life insurance policy?

For more information on life insurance options, give us a call at 1-844-733-5433 and talk with a Protective Life Agent.

*Withdrawals and unpaid loans will reduce the cash value and death benefit of the policy.

Investors should carefully consider the investment objectives, risks, charges and expenses of the applicable variable universal life insurance policy and its underlying investment options before investing. This and other information is contained in the prospectuses for the applicable variable universal life insurance policy and its underlying investment options. Investors should read the prospectuses carefully before investing. Prospectuses may be obtained by contacting PLICO at 800.265.1545.

An indexed universal life insurance policy is not an investment in an index, is not a security or stock market investment, and does not participate in any stock or equity investments. Subject to caps and floors.

WEB.1133.05.20