Protective Executive 10-year term

Protective%%®%% Executive 10-Year Term

This term life insurance solution is designed with valuable features for your business clients and their leadership talent. Expand your opportunities in the group term carve-out market with Protective Executive 10-Year Term.

Why recommend Protective Executive 10-Year Term?

Easy to administer

Employee information is managed with a census, updated as needed, and premiums can be paid by employer with one payment.

Cost-effective carve-out

Employers can provide a cost-effective, tailored benefit that is more meaningful to their executive, highly compensated employees than traditional group plans.

Guaranteed issue-type underwriting

Employees may qualify by answering two questions — no medical exam or bloodwork needed.

Offer valuable features to employers and executive, highly compensated employees

Employers reviewing benefit options for their company executives.

For employers:

Qualify executives with just two questions
Structure policy to provide death benefit equal to expected revenue loss
Offer cost-effective premiums that are guaranteed for 10 years

Executive smiling after reading a message on their smartphone.

For executive employees:

Guarantee premiums for 10-years paid by employer
Offer coverage that’s portable if they retire or leave
Provide opportunity for participants to apply for new policy if still employed at end of term

Consider companies that:

Are looking to incentivize executive, highly compensated employees with life insurance benefits
Want a way to attract and retain top talent
Need a product that’s easy to administer
Are interested in a portable solution that employees can keep after they retire or leave the company

A financial professional talking about Protective Executive 10-Year Term with a business client.

Key product specs

Issue ages: 18-70
Minimum face amount: $100,000 (minimum case size of 15 lives)
Maximum face amount, 15-49 lives: $50,000 x number of lives
Maximum face amount, 50+ group lives: $60,000 x number of lives

Download full details

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Added protection for terminal illness

Available at no additional cost, the Terminal Illness Accelerated Death Benefit¹ enables employees to access up to 60% of their policy’s death benefit to help offset the cost of care.

Life expectancy must be six months or less.
The death benefit will be reduced by the accelerated amount paid plus accumulated interest.
The minimum amount accelerated is $15,000.

A woman using her smartphone in a hospital bed, reading about her terminal illness benefits.

Sample cases for Protective Executive 10-year term

Use these four examples to uncover scenarios for creating a group term carve-out solution that benefits an organization and its key employees.

Two professional discussing how to use Protective Executive 10-Year Term to carve out a life insurance benefit for leaders of a firm.

Carve out a better coverage model

Policy owner: Employee (employer pays 100% of premium)

Beneficiary: Personal to employee

Case: An engineering firm offers group term life but wants a more comprehensive benefit for leaders. Protective Executive 10-Year Term carves out a plan for 52 high-earners with a benefit of 2x their salary up to $1 million, decreasing group insurance cost for staff.

A financial professional discussing with a law firm representative how to use Protective Executive 10-Year Term to create more coverage for partners.

Create more death benefit coverage

Policy owner: Employee (employer pays 100% of premium)

Beneficiary: Personal to employee

Case: A law office has group term coverage that doesn’t deliver enough protection to its 91 insured partners. Protective Executive 10-Year Term creates a more meaningful benefit by increasing coverage to $4 million for each partner.

Replace a competitor plan

Policy owner: Employee (employer pays 100% of premium)

Beneficiary: Personal to employee

Case: A hospital has a group term program that’s difficult to manage and portability restrictions are a liability. Protective Executive 10-Year Term replaces the plan for 134 executives and physicians – resulting in 15% lower premiums, better provisions and portability resolution.

Investment professionals discussing how to protect their firm's key employees with Protective Executive 10-Year Term.

Solve for corporate needs

Policy owner: Employer (employer pays 100% of premium)

Beneficiary: Employer

Case: An investment firm is funding the existing stock redemption plan for 40 key employees. Protective Executive 10-Year Term offers individual policies to protect the firm and insure a specific formula (up to $1.5 million).

Four easy steps to submit Protective Executive 10-Year Term business

While these are individual policies, we take care of the billing, application submission and premium processing as a group. Together, we’ll follow these steps to streamline the sales process for you.

You submit the request to us

This includes the required application and census template.

We review your request

We’ll review what you provided and reach out if we need to chat further.

We determine an offer

If approved, an offer will be provided with a case summary, maximum face amounts and any stipulations.¹

Enrollment begins

Once the case is approved, we’ll schedule a call to walk through the enrollment timeline. Individual executive employees will finalize their applications and policies will be issued.

Helpful resources

We want to help you decide if this term insurance solution is the right fit for your business clients. Use these resources to learn more about the product and support your sales conversations.