Increases to Underwriting Limits at Protective Life

News Image 05-02-2016

Effective May 2, 2016, Protective Life is proud to introduce positive changes to certain underwriting limits which could help you more easily place your larger cases. During a time in the life insurance industry when good news seems hard to find, these increases also demonstrate the stability of Protective Life as a company, as well as their deep commitment to their distribution partners and customers.


Protective is pleased to announce changes to the following limits:

•Retention limit increases from $2 million to $5 million for most ages and certain products (see tables below)

•The first-year premium limit increases from $1 million to $2 million for all products

•Auto bind limit increases from $40 million to $50 million for most ages and certain products; this limit may decrease for ratings

•Jumbo limit increases from $50 million to $65 million for most ages and certain products



These new limits will apply to applications signed May 2 or later.

The new maximum retention, auto bind and jumbo limit guidelines apply to the following fully underwritten products:
•Protective Custom Choice UL 10-30
•Protective Advantage Choice UL
•Protective Indexed Choice UL
•Protective Investors Choice VUL
•Protective Survivor UL


The following fully underwritten products are excluded from this maximum retention, auto bind and jumbo limit update and will continue to use the previous limits:
•Protective Non-Par Whole Life
•Protective Premiere III
•Protective Preserver II/Plus
•Protective ProClassic UL/ProClassic UL NY
•Protective Survivorship Term


Please call us with any questions!


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Contact

BUA Sales
Phone: 800-792-6795