Protective - Classic Choice Term Reprice 9.18.2023
09-18-2023
Protective is excited to announce they have lowered their Protective® Classic Choice term prices, effective September 18, 2023. And with longer term periods, more flexibility and faster technology, Protective is making short-term business easier and more innovative.
- These lower prices put Protective in the top 3 71%1 of the time in monthly premium scenarios and in annual premium scenarios. ( Be sure to change to monthly premium quotes to see Classic Choice term's most competitive rates.)
- 35- and 40-year term periods make Protective one of only three carriers in the market to have level term coverage for up to 40 years.
- Protective Classic Choice Term applications can be submitted quickly through Vive!
Transition Rules:
- For paper business: applications must be signed and received on or before October 2, 2023.
- For electronic ticket business and direct writers: applications must be signed and received on or before October 16, 2023.
- Any application in Underwriting on September 18, 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.
Please give us a call at 800.792.6795 if you have any questions about the rate change.