Protective Life is committed to serving our customers and providing valuable products. Due to the current interest rate environment, and particularly the decrease in yields over the past few weeks, we find it necessary to implement new premium limits for certain products.
Effective March 30, 2020, in all states including New York, the following annual premium limits will be implemented:
|Product||New Annual Premium Limit|
|Protective Advantage Choice UL||$500,000|
|Protective Indexed Choice UL||$1,000,000|
|Protective Custom Choice UL||$1,000,000|
|ProClassic II UL||$1,000,000|
For Protective® Strategic Objectives II VUL, the annual premium limit will remain at $5,000,000.
March 29, 2020 – Last day the illustration system will allow quotes to be run with premiums above the new limits. Any applications submitted above the new limits must have an illustration run by this date.
May 22, 2020 – Last day to submit applications for cases with premiums above the new limits.