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FAQ
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Life Insurance frequently asked questions

Applies to Life and VUL
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"How to" questions

First, login to access your account. If you have not registered for an account, register now. Once logged in, you can click on the “Profile and Settings” option in the menu bar then select the action you want to take.

First, login to access your account. If you have not registered for an account, register now. Once logged in, you can click on the “Profile and Settings” option in the menu bar then select the action you want to take.

If your name has changed or the insured’s name has change, please contact us for assistance. You can also complete the form now available for download on our website here. We will send you confirmation in the mail of the change.

First, login to access your account. If you have not registered for an account, register now. Once logged in you can locate the policy you want to change your beneficiary information on and select the ‘I want to’ drop down and then select ‘Change My Beneficiaries’ from the drop-down list.

First, login to access your account. If you have not registered for an account, register now. If you want to change your bank information, you can do so by clicking on the ‘I want to’ drop down and then select ‘Change My Payment Methods’ from the drop-down list.

First, login to access your account. If you have not registered for an account, register now. If you want to change your bank information, you can do so by clicking on the ‘I want to’ drop down and then select ‘Change My Payment Methods’ from the drop-down list.

Yes. You can select the ‘One-Time-Pay’ link on the login page. If you want to make a one-time payment, you will need to enter your policy number and the billing zip code associated to it.

You can also make a payment, once logged into your account. Login to access your account. If you have not registered for an account, register now. Once logged in, select the ‘I want to’ drop down on the policy you want to make a payment on and you should have the option to ‘Make A Payment’ in the list of options displayed. If the option to ‘Make A Payment’ does not display, you will not have the ability to make a payment on your policy and/or a payment is not due on your policy.

Yes. First, login to access your account. If you have not registered for an account, register now. Once logged in, from the main Dashboard, click on the Statements and Documents tab. From the Statements and Documents tab, select the Statements and Confirmations document category and wait for your document list to load. Once the list is loaded select the desired statement of account.

The following types of documents are available online. Not all documents are available for all policies or contracts.

  • Statements of Account
  • Transaction Confirmations
  • Supplements
  • Semi-annual reports
  • Life Billing Statements

This feature is not available online at this time. Please contact us to request a loan. You may also complete a loan request form available for download on our website here.

Please contact us to request a change of ownership for the policy. You may also complete a Transfer of Ownership form and mail it to our office. The form is now available for download on our website here. Upon review and receipt of the completed form, we will forward to the new policyowner an acknowledgment of the completed change.

If you have enrolled for Telephone Authorization, you can complete a funds transfer request by contact customer service at 1-800-487-6669.

You may also contact us for assistance. A Fund Transfer Form can also be obtained here.

Please contact us for assistance. A Change of Allocations form can also be obtained here.

You can start a claim here or contact Claims at 1-800-659-1058

The available cash value of any dividend additions and/or deposits may be:

  • withdrawn in cash
  • used to pay premiums on the same policy
  • used to repay outstanding loan balances

Such withdrawals will affect the total death benefit payable but will not affect the base policy face amounts.


If you would like to with withdraw your dividends please contact us or complete form 4979 - MONY Service Request now available for download on our website here.

Any outstanding indebtedness will be deducted from the proceeds payable at lapse, surrender, maturity, or payment of the death claim. Therefore, it is in the client's best interest to make loan repayments whenever possible. Loan repayments will also reduce future loan interest payments.

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Terminology/Definitions

The person, persons, or other entity designated to receive the policy proceeds.

Cash value is equal to the policy value less a surrender charge and outstanding loan, if any. Cash value can provide a source of funds for the policyowner through loans, partial surrender or full surrender.

The death benefit is the amount of money paid to the beneficiary at the time of the insured's death.

A level death benefit option means the death benefit only includes the face amount of the policy. An increasing death benefit means the death benefit includes the face amount of the policy and policy value.

The dividends may be paid in cash each year, kept on the policy to accumulate, earning interest, purchase additional insurance, or be used to pay part of the premium or outstanding loan amount.

Endowments are policies in which the cash value built up inside the policy, equals the death benefit (face amount) at a certain age. The age this commences is known as the endowment age. Endowments are considerably more expensive (in terms of annual premiums) than either whole life or universal life because the premium paying period is shortened and the endowment date is earlier. Endowment Insurance is paid out whether the insured lives or dies, after a specific period.

A policy illustration gives you a projection of future values for your policy. The projection shows premiums, cash values, and death benefit amounts on a year-by-year basis.

The Insured is the person whose life the policy insures. The Insured is the Owner of the policy unless someone else is named as Owner.

Interest Sensitive Whole Life (ISWL) is a guaranteed fixed level premium non-participating permanent life insurance policy that offers insurance protection and Cash Value Accumulation. The MONY ISWL delivers in one product what consumers find the most desirable features of Whole Life and Universal Life Insurance.

Survivorship, or second-to-die, insurance simultaneously covers two lives and pays a death benefit upon the second death. Survivorship Universal Life provides premium flexibility without losing coverage, so long as the cash value of the policy is sufficient to cover the necessary monthly deductions to maintain coverage. The potential for cash value accumulation is based on the crediting of a competitive interest rate to the fund value on a monthly basis.

Survivorship, or second-to-die, insurance simultaneously covers two lives and pays a death benefit upon the second death. Last Survivorship Variable Universal Life provides premium flexibility without losing coverage, so long as the cash value of the policy is sufficient to cover the necessary monthly deductions to maintain coverage. Survivorship Variable life is a financial protection product that offers adjustable premium payments and Death Benefit choices while allowing a possible build-up of Cash Value based on the policy’s market-driven subaccounts and/or competitive interest crediting rates.

Survivorship, or second -to-die, insurance simultaneously covers two lives and pays a death benefit upon the second death. Last survivor whole life insurance remains in-force during the lifetime of the last insured provided that the premiums are paid as specified in the policy contract.

This is a life insurance policy that provides coverage for a limited period of time with consistent premiums over the length of the coverage. Starting after that period, annual premiums increase according to the terms of the policy.

A partial surrender is simply taking available cash value from the policy while keeping the policy in-force. This action will decrease the death benefit. Partial surrenders may affect how long your policy will stay in-force. Therefore, you may need to increase your premium at some time.

A policy is a legal contract between you and us. A policy is issued in return for the approved application and the payment of premiums through the contract period.

A refund of excess premium paid to the owner of an individual participating life insurance policy. Such a dividend is paid out of the insurer’s divisible surplus.

The Policyowner owns the insurance policy. While the insured is living, the policyowner may exercise all rights given by the policy or allowed by us. These rights include changing beneficiaries, changing ownership, enjoying all policy benefits, and exercising all policy provisions.

At this time, the following life insurance products are available through service.protective.com. Note that only active in-force contracts, policies and accounts will be displayed.

  • Endowment
  • Interest Sensitive Whole Life
  • Last Survivor Universal Life
  • Last Survivor Variable Universal Life
  • Last Survivor Whole Life
  • Term
  • Universal Life
  • Variable Universal Life
  • Whole Life

Simply put, a surrender charge is an early withdrawal charge deducted from the policy value.

This is the net cash value build up that the policyowner may receive if the policy is cancelled.

This is a life insurance policy that provides coverage for a limited period of time.

The amount payable to a beneficiary upon the death of the insured. This generally represents the face amount of the base policy, the face amount of any additional coverage on the insured provided under a rider, the face amount of any dividend additions, the cash value of any dividend deposits, less any outstanding indebtedness (loan balance and loan interest).

This represents the guaranteed cash value of the base policy, if any, the cash value of any accumulated dividends, if any, less any outstanding indebtedness (loan balance and loan interest) that would be paid upon termination of the contract.

A Universal Life Policy provides either a level or increasing death benefit. The premium can be flexible if there is enough cash value in the policy to cover the mortality and other expense charges. Loans and partial surrenders are permitted on Universal Life policies. However, premiums may need to be increased when loans or partial surrenders are made to offset the monthly mortality and expense charges.

The Variable Universal Life policy is a financial protection product that offers adjustable premium payments and Death Benefit choices while allowing a build-up of Cash Value based on the policy’s market-driven subaccounts and/or competitive interest crediting rates. Premium Variances can occur without losing coverage as long as the Cash Value of the policy is sufficient to cover the monthly deductions necessary to maintain policy coverage.

Life insurance that remains in-force during the lifetime of the insured provided that the premiums are paid as specified in the policy.