• Written By
    Jennifer Schell

    Jennifer Schell

    Financial Writer

    Jennifer Schell is a professional writer focused on demystifying annuities and other financial topics including banking, financial advising and insurance. She is proud to be a member of the National Association for Fixed Annuities (NAFA) as well as the National Association of Insurance and Financial Advisors (NAIFA).

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  • Edited By Michael Santiago
  • Financially Reviewed By
    Thomas J. Brock, CFA®, CPA
    headshot of Thomas J. Brock, CFA, CPA

    Thomas J. Brock, CFA®, CPA

    Investment, Corporate Finance and Accounting Expert

    Thomas Brock, CFA®, CPA, is a financial professional with over 20 years of experience in investments, corporate finance and accounting. He currently oversees the investment operation for a $4 billion super-regional insurance carrier.

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  • Updated: July 4, 2023
  • 5 min read time
  • This page features 11 Cited Research Articles
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Key Takeaways

  • Protective Life Insurance Company started in 1907 and is wholly owned by Dai-ichi Life Insurance Company, Ltd.
  • The Company offers fixed, indexed, variable and immediate annuities.
  • Protective Life Insurance Company enjoyed exceptionally high grades from the top ratings agencies.

About Protective Life Insurance Company

Protective Life Insurance Company was founded in 1907 in Birmingham, Alabama, as a modest venture offering affordable life insurance coverage to middle-class people and families.

The company added annuities and asset accumulation products while establishing operations and offices in multiple states and making strategic acquisitions. In 2015, Protective Life Insurance Company became a wholly owned subsidiary of the Dai-ichi Life Insurance Company, Ltd.

As the parent company of Protective Life and Annuity Insurance Company, Protective Life sells innovative insurance and annuity products. The company offers fixed, variable, indexed and immediate annuities to suit different needs and objectives.

Contact Information

2801 U.S. Highway 280 S
Birmingham, AL 35223
United States

Customer Service Phone Number: 877-905-3078

Protective Life Insurance Company also has primary office locations in Covington, Kentucky and Chesterfield, Missouri.

Protective Life Insurance Company: Reputation and Credit Ratings

Protective Life Insurance Company is one of the oldest insurance companies in the United States. It boasts more than a century of expertise and experience in providing competitive financial products and services. At the close of 2022, Protective Life held $113.2 billion in assets with $1 trillion in insurance policies and contributed more than $4.5 million in community gifts. In 2021, the company paid more than $4.9 billion in claims.

Besides its strong financial position, the company is committed to long-term sustainability and powers its 650,000-square-foot Birmingham headquarters with 100% renewable energy.

The combination of a strong financial standing and strong visionary leadership has earned the company strong ratings from rating agencies as tabulated below.


Credit Agency Credit Rating Financial Strength Rating
AM Best A+ Superior (2nd-highest of 15 ratings)
Moody’s A1 High Quality (5th-highest of 21 ratings)
Standard & Poor’s Global AA- Very Strong (4th-highest of 21 ratings)
Fitch AA- Very High Quality (4th-highest of 22 ratings)
Source: AM Best, Moody’s, Fitch and S&P Ratings

Annuity Product Offerings From Protective Life

When you buy an annuity from Protective Life, you have several types of annuity products to consider. Each has distinctive features to grow based on varying risk tolerances while also deferring taxes. New York Residents can access these products through Protective Life & Annuity Insurance Company. Protective Life offers immediate annuities, fixed annuities, variable annuities and indexed annuities.

Fixed Annuities

Fixed annuities from Protective Life earn a guaranteed interest rate and provide a reliable, life-long income stream.

Fixed Annuities Offered by Protective Life Insurance Company

Indexed Annuities

Protective’s indexed annuities provide an opportunity to grow your money without the down-market risk. This means that your principal remains protected as you benefit from the positive movement of an index such as the S&P 500 Index.

Fixed Index Annuities Offered by Protective Life Insurance Company

Variable Annuities

Variable annuities from Protective Life offer higher earning potential than other annuities, although they come with increased risk.

Variable Annuities Offered by Protective Life Insurance Company

Immediate Annuities

Protective’s immediate annuities let you convert your money into a retirement income stream. The annuities rates get set when you buy them, which means you’re guaranteed a consistent payment. However, you can customize immediate annuities to different payouts.

Immediate Annuities Offered by Protective Life Insurance Company

Protective Life’s Common Annuity Fees and Charges

Apart from variable annuities, the annuity products offered by Protective Life have no front-end or administrative charges. However, there are surrender charges for early withdrawals that apply to the amount you withdraw above the allowable 10% on your contract’s value in a year. And as with all tax-deferred accounts, withdrawals made before you’re 59 ½ years old are subject to a 10% penalty from the Internal Revenue Service.

Protective Life is transparent about disclosing all relevant fees, charges and applicable waivers on its products. Check with a representative to get the most up-to-date information.

Contacting Customer Service

Protective Life provides a streamlined client portal where contract owners can take advantage of convenient self-service services.

You can reach the company by calling 877-905-3078 or through their contact page. Current annuity customers can log into their accounts at Protective Life Insurance Company’s Annuity Login Page.

FAQs About Protective Life’s Annuity Products

How can you access money from an annuity sold by Protective Life Insurance Company?

It depends on the specific terms and features of your annuity contract. The options involve accessing the money through withdrawals, annuity payout options, annuity loans or by surrendering the annuity.

What is the surrender period for Protective Life annuities?

It depends on the terms of your specific annuity product. Refer to your annuity contract or contact Protective Life Insurance Company directly to determine the surrender period and any applicable charges or penalties associated with your annuity.

What happens to a Protective Life annuity if the owner dies before the end of the contract?

It depends on the specific terms and features outlined in the annuity contract. Possibilities include awarding of a death benefit to beneficiaries, spousal continuation with the contract or estate distribution in case of no beneficiaries.

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Last Modified: July 4, 2023