Starting March 1, 2021, Protective Classic Choice term will have even lower rates, putting it in the Top 3 their better 80% of the time in monthly pay scenarios and in the Top 5 or better 84% of the time in annual pay scenarios.
Protective has also made several other changes to help you offer this market-leading term product to even more clients.
Details about enhancements to the product:
• Increasing the policy fee
Protective policy fee will be increasing from $55.00 to $65.00, but will remain fully commissionable.
• Lowering the minimum face amount requirement
They’re lowering the minimum face amount requirement from $1 million to $250,001 to help you meet a broader spectrum of client needs.
• Offering coverage longer with 25-, 35- and 40-Year term periods
Protective have also added guaranteed, level-term options at 25, 35 and 40 years to our existing 10-, 15-,
20- and 30-year term periods. Protective is now one of only three national carriers to offer more
than 30 years of level term coverage. Plus, their maximum issue ages for their 35- and 40-year
term periods are in line with (or better than) other top carriers.
• For ticket business and direct writers: applications must be signed and received on or before
Monday, March 29 to receive current rates.
• For paper business: applications must be signed and received on or before Monday, March 15
to receive current rates.
• Any application in underwriting on Monday, March 15 may choose between the old and new version of the product but will retain the rates initially quoted, unless otherwise requested up until the case has been approved.
With NFG Brokerage, you no longer need to depend on a one size fits all approach. We work hard for you to create customized insurance strategies to help you deliver the most affective solutions to your clients. Your success is our success...don't delay!
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.