Protective® Executive

Protective%%®%% Executive Universal Life

Our group term carve-out universal life insurance solution is designed with valuable features for employers and their leadership talent, so you can grow your business in the executive benefits market.

Why recommend Protective Executive UL?

Your business clients can enjoy these benefits from our group term carve-out solution:

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.

Stronger incentive

Employees can pay extra premiums to build cash value and their coverage is portable

Offer valuable features to employers and executive, highly compensated employees

Employers reviewing benefit options for their company executives.

For employers:

Qualify executives with just 2 questions
Offer premium payment flexibility
Guarantee the minimum premium schedule for 5 years

Executive smiling after reading a message on their smartphone.

For executive employees:

Offer coverage that’s portable if they retire or leave
Provide the ability to build cash value
Deliver a more meaningful benefit tailored to their needs

Consider companies that:

Are looking to incentivize executive-level 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 meets with a business client about Protective Executive UL

Key product specs:

Issue ages: 18-85
Minimum face amount: $100,000 (minimum case size of 15 lives)
Maximum face amount, 15-49 group 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 chronic illness expenses

By adding the ExtendCare^SM rider¹ to Protective Executive UL, employees can advance their policy’s death benefit to help offset the costs of a chronic illness. See how this optional benefit works to prepare them for life’s uncertainties.

Explore ExtendCare

A woman using her smartphone in a hospital bed, smiling because she's protected with the ExtendCare rider.

Sample cases for Protective Executive UL

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 UL 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 UL 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 UL 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 UL 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 VUL program that’s difficult to manage and portability restrictions are a liability. Protective Executive UL 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 UL.

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 UL offers individual policies to protect the firm and insure a specific formula (up to $1.5 million).

Four easy steps to submit Protective Executive UL business

While these are individual policies, we handle the billing, application submission and premium processing as a group. Here are the steps in our streamlined sales process:

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.²

Enrollment begins

Once the case is approved, we’ll schedule a call with you and the organization 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 universal life insurance solution is the right fit for your business clients. Use these resources to learn more about the product and support your sales conversations.

Introduce business clients to Protective Executive UL

Download product guide

The cover of the Protective Executive UL producer guide

Review key product features and benefits

Download producer guide

Get an overview of the 3 premium options

Download premium options

The cover of the Protective Executive UL ideal client flyer

See examples of ideal client cases

Download client scenarios

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¹ May not be available in all states. State variations may apply.

² The offer is valid for 60 days and can be reconsidered.

Protective Executive UL (ICC20-EUL1/EUL-1 10-20) is a current-assumption universal life insurance policy issued by Protective Life Insurance Company in all states except New York where it is issued by Protective Life & Annuity Insurance Company under form number (EUL-1-NY 10-20). Protective Life Insurance Company is located Nashville, TN and Protective Life & Annuity Insurance Company is located in Birmingham, AL. Policy form numbers, product features and availability may vary by state. Consult policies for benefits, riders, limitations and exclusions. Subject to underwriting. Up to a two-year contestable and suicide period. Benefits adjusted for misstatements of age or sex.

The tax treatment of life insurance is subject to change. Neither Protective nor its representatives offer legal or tax advice. Employees should consult with their legal or tax advisor regarding their individual situation before making any tax-related decision.

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