May 1, 2023

We’re committed to helping you maximize value by connecting clients to straight-forward, affordable coverage for their short-term protection needs.

Effective May 1, 2023, Protective^® Classic Choice term will offer 10-, 15-, 20-, 25- and 30-year term periods, replacing the fully underwritten version of Protective Series Passport™ term. And with new lower rates available on our 35- and 40-year term periods, you'll be able to help even more clients secure what matters most.

We believe products should be easy to understand and easier to recommend. That's why we're making the following enhancements to maximize value for clients:

More coverage with a new face amount
Clients can get even more coverage at better rates with face amounts now starting at $500,000.

• Minimum face amount will remain $250,001 for 35- and 40-year term periods.
• Minimum face amount for customers aged 66+ will be $100,000 in all states, except New York.
• Minimum face amount in New York will remain $250,001 for all ages.

Extended maximum issue ages and maturity age
Increased maximum issue ages across several term periods and an increased maturity age of 95 to help you cover even more clients.

Lower prices for 35- and 40-year term periods
Our lower prices put us in the #1 spot 96%¹ of the time in monthly premium scenarios and 94% of the time in annual premium scenarios.

Protective Velocity
Our suite of digital solutions, makes submission to commission even faster and easier with these best practices.

Transition rules

Protective Series Passport term:

• Applications must be signed and submitted prior to May 1, 2023, to retain the full underwriting Protective Series Passport term product/rates. Applications signed on or after May 1, 2023, will need to be either the Protective Classic Choice term with a face amount of $500,000 and above, or the Protective Series Passport term simplified issue product with a face amount of $250,000 and below. No fully underwritten Protective Series Passport term applications will be accepted on or after May 1, 2023.
• Fully underwritten Protective Series Passport term applications submitted prior to May 1, 2023, and not already issued can be amended to a Protective Classic Choice term with a face amount of $500,000 and above, or a Protective Series Passport term simplified issue product with a face amount of $250,000 and below.

Protective Classic Choice 35- and 40-year term periods:

• For electronic ticket business: applications must be signed and received on or before May 29, 2023.
• Any application in Underwriting on May 1, 2023, may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.
• New York does not have a rate change, but the plan codes are changing so they will follow the above rules.

Reach out to your representative today to see how we're helping clients achieve the protection they deserve.