Protective Classic Choice Term Reprice - July 10, 2023
07-17-2023
Protective believes products should be easy to understand and easier to recommend. That's why they continue to improve their term product to maximize value for clients everywhere:
- Proteceive is ranked in the top 3 76%1 of the time in monthly premium scenarios and 75% of the time in annual premium scenarios with the new prices. (Please note, iGo defaults to annual premium quotes. 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 is available on Vive so you can easily and quickly submit a drop ticket!
Transition Rules:
- For paper business: applications must be signed and received on or before July 24, 2023.
- For electronic ticket business and direct writers: applications must be signed and received on or before August 7, 2023.
- Any application in Underwriting on July 10, 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 our life sales team a call at 800.792.6795 if you have any questions or if you need assistance with quoting or submitting an application!