BIRMINGHAM, Ala.--(BUSINESS WIRE)--Protective Life Insurance Company (NYSE:PL - News) and West Coast Life Insurance Company announced the release of two new second-to-die universal life policies, the Protective Centennial Survivor G Universal Life^SM and the West Coast Golden Legacy Protector X Universal Life. The Protective Centennial Survivor G Universal Life^SM and the West Coast Golden Legacy Protector X Universal Life products continue to build on our experience and expertise as issuers of competitive and innovative permanent life insurance products. Both the Centennial Survivor G UL and the Golden Legacy Protector X are second-to-die universal life insurance policies, insuring two lives under one policy, with the death benefit payable to the designated beneficiary following the surviving insured’s death. These products are primarily designed for estate planning needs and also work well for wealth preservation.

Both the Protective Centennial Survivor G UL and West Coast Golden Legacy Protector X provide flexible lapse protection options, including guaranteed(1) death benefit coverage up to age 121 of the younger insured, regardless of policy value, provided the premium requirements are met to ensure the policy stays in force. The premiums will vary according to the issue age, gender, face amount, length of lapse protection, and underwriting class (health status) of the proposed insureds. Policy loans, partial surrenders, policy changes, or delinquent premiums may affect the length of the lapse protection and may cause the purchaser to lose the lapse protection. The lapse protection does not apply to policy values.

“The introduction of Protective Life’s Centennial Survivor G UL and West Coast Life’s Golden Legacy Protector X clearly mark our commitment to the universal life marketplace,” said John Deremo, Senior Vice President and Chief Distribution Officer of Protective Life Insurance Company’s and West Coast Life Insurance Company’s Life and Annuity Divisions. “Adding these highly competitive survivorship policies to the product portfolios demonstrates our ability to provide consumers with products that address estate planning needs.”

The Centennial Survivor G and Golden Legacy Protector X products are designed for clients who are looking for a survivorship policy that offers guaranteed(1) lifetime death benefit protection at an affordable premium cost. Whether the need is for estate planning, wealth preservation, or business insurance applications, the Protective Centennial Survivor G UL and the West Coast Golden Legacy Protector X UL can play an important role.

Drawing on over 200 years of combined service, Protective Life and West Coast Life each deliver a competitive line-up of innovative, consumer-friendly life and annuity products, backed by a wide array of high-value sales tools, and dedicated marketing support. Both companies remain committed to providing quality service and being a company that is easy to do business with – making both companies the choice for top financial advisors, life insurance agents, brokers and their clients.

(1) In order for the lapse protection to be in-force, accumulated premiums paid (less pro rata adjustments for loans and withdrawals) must be equivalent to or greater than the accumulated minimum monthly guaranteed premium. If only the minimum monthly guaranteed premium is paid, there may be little or no cash or surrender value upon maturity. This policy is subject to a 2-year contestable and suicide period. Loans, partial surrenders, policy changes, and any delinquent premium outlays will affect the length of the protection. Refer to policy and endorsements for complete limitations, terms, and conditions.

Protective Centennial Survivor G UL, policy form UL-12 and state variations thereof, is a flexible premium second-to-die universal life insurance policy issued by Protective Life Insurance Company, 2801 Highway 280 South, Birmingham, AL 35223. Product features and availability may vary by state. Consult policy for benefits, riders, limitations, and exclusions. Subject to underwriting. 2-year contestable and suicide period. Benefits adjusted for misstatements of age or sex. In Montana, unisex rates apply.

West Coast Golden Legacy Protector X, policy form WC-U12 and state variations thereof, is a flexible premium second-to-die universal life insurance policy issued by West Coast Life Insurance Company, 343 Sansome Street, San Francisco, CA 94104. Product features and availability may vary by state. Consult policy for benefits, riders, limitations, and exclusions. Subject to underwriting. 2-year contestable and suicide period. Benefits adjusted for misstatements of age or sex. In Montana, male rates apply to all sexes.

About Protective Life and West Coast Life Insurance Companies

Protective Life Corporation was established on a profound belief in the American dream: provide quality products with excellent service and success will follow. This unwavering commitment to treating people the way we would like to be treated has been rewarded with stable, long-term relationships and growth.

Today, our employees nationwide are dedicated every day to proving the wisdom of our collective vision: Doing the right thing is smart business.® Protective Life Corporation offers a broad portfolio of life and specialty insurance and investment products through its insurance company subsidiaries, Protective Life Insurance Company and West Coast Life Insurance Company.

Source: Protective Life Insurance Company

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