1. Protective® Classic Choice Term Protective® Custom Choice Universal Life
Welcome everyone. Thank you for joining me for today’s presentation on the Protective Classic Choice Term product. My name is __________ and I’m a ___________ at Protective Life.
SHORT-TERM SOLUTIONS
PLAG (07.17)

2. To understand our product, it’s best to first know us.
Before we dive into the product details, I think it’s important to quickly touch on Protective’s unique approach to doing business—it’ll help shed light on what we’ll discuss later on.

3. The Protective Way Principles into Products Value Integrity
The assurance that clients are getting the benefits they expect.
Integrity
We make promises we can keep—and then deliver on them.
Strength & Stability
At Protective, we focus on things like the value of long-term relationships. Making promises we can keep. And doing the right thing.
Other companies talk about values, but with us it’s more than a slogan. Our entire business model is based on our core principles: value, integrity, and strength and stability.
More than 100 years of growth and strong financial performance. We’re here to stay.

4. The Protective Way Products Designed to Stand the Test of Life
We make promises carefully and deliver
No surprises, no disappointments
We do the right thing
The Protective Way is the thought we put into our business, our decisions, even our product design. Our focus revolves around producers and clients, outcomes and doing what we say we will do. We’re careful about the promises we make—and then deliver on them. We work hard to avoid unwelcome surprises and disappointments for clients. We do the right thing. That commitment informs everything we do every day, large and small.
Of all the things we’re most proud, perhaps our products stand out the most. They reflect who we are and embody our core principles. Now, let’s talk about how Protective Classic Choice Term can deliver for clients.

5. Product Overview & Specifications Competitive Positioning Marketing Resources
Agenda
In this presentation, I’ll provide an overview of the Protective Classic Choice Term product, including important specifications. I’ll provide information on how the product competes in the marketplace, and I’ll end by showing you the marketing resources that are available to support your sales.

6. Introducing our Short-Term Solutions Portfolio
Now offering two solid short-term solutions:
Protective Classic Choice Term
Protective Custom Choice UL (10-30 Plans)
We need offer two solid short-term solutions for clients. Why? Because one size doesn’t fit all. One product can rarely include all the right features for each individual client. Protective’s two short-term solutions may help agents offer more coverage options for clients seeking affordable options.
One size doesn’t fit all.
Two short-term solutions to help agents offer more coverage options for clients seeking affordable options.
Why?

7. Classic or Custom? Help clients decide between two solid choices.
What is your top priority when choosing life insurance?
Sticking to
my budget,
affordability
Coverage from
a company
I can trust
Flexibility in
premiums and
coverage
Which
do you rank
higher?
I’m unsure.
I may need to change my term in the future and I want to know there are options
Which
best describes
you?
How can you help agents and clients make the right choice? Determine their top priority when they choose a life insurance product. If a lower premium and coverage over a specific period of time are most important, the Protective Classic Choice term product may be the better option. But if flexibility in premiums and coverage and being unsure of future needs play more into the client’s priorities, Protective Custom Choice UL may serve the client better.
Ask your agent about Protective Classic Choice Term
Ask your agent about Protective Custom Choice UL
I need
coverage
for a specific
period
Either way,
we’ve got you covered.
It’s that simple.

8. Short-Term Solutions Protective Classic Choice Term Protective
Custom Choice Universal Life
(10-30 Plans)
Streamlined
Easy to understand
Coverage at a more affordable price
Flexible
Customizable
Unique level-premium design
Protective now has a product portfolio specifically for short-term solutions. Protective Classic Choice Term is a product that’s streamlined and easy to understand with no references to “lapse protection”, “minimum monthly premium requirements” or other product elements that are unique to universal life. With that greater simplicity comes a lower premium, so your clients will get coverage at a more affordable price.
However, Protective Custom Choice Universal Life plans remain available. In exchange for the higher premium come the greater degree of flexibility a client may have with the ability to pay a lump sum or 1035 Exchange into the policy to offset recurring premiums, greater customizable options such as the Income Provider Option, and the unique level-premium design that appeals to clients who may wish to keep their policies in force beyond the level death benefit period.

9. Protective® Classic Choice Term

10. Protective Classic Choice Term Specifications
Term periods
Policy Fee
Expiry
(years)
Age 90 10 15 20 25 30
commissionable
$55
The Protective Classic Choice Term product has the same five term periods you’ve become accustomed to with Protective Custom Choice UL. There is a $55 policy fee that’s commissionable, unlike many competitor products. And the policy will terminate at age 90, truly making the product a short-term plan.

11. Rate Bands
Rate Bands decrease the cost-per-thousand as greater amounts of insurance are purchased
Protective’s Classic Choice term offers bands at:
$100,000
$250,000
$500,000
$1,000,000
$100,000
$250,000
$500,000
$1,000,000
Male, Age 50
Preferred Non-Tobacco, 20 Year Term
$400,000
$450,000
$500,000
Monthly Premium
Face Amount
$89.87
price break for $500,000
$84.84
typical
price
Increase
$75.94
Protective Classic Choice Term bands rates at face amounts of $100,000, $250,000, $500,000 and $1,000,000. Please keep these bands in mind because you’ll often find that, as an example, buying $500,000 is only slightly more expensive than buying $450,000.

12. Conversion Expanded Conversion Option* Standard Conversion Option* 2 4
Protective Advantage Choice UL
Protective Indexed Choice UL
Protective Strategic Objectives VUL
Protective Investors Choice VUL
Protective ProClassic UL
Protective Non-Par Whole Life
Expanded Conversion Option*
Begin Policy
Available
Years 1 - 5
10-Year Term
Years 6-8
15-Year Term
Years 6-13
20, 25, 30-Year Term
Years 6-18
Standard Conversion Option*
Protective ProClassic UL
Protective Non-Par Whole Life 2 4 6 8 10 12 14 16 18
Protective’s “expanded conversion option” offers conversion between years one through five to the majority of currently-offered life insurance products in Protective’s portfolio. After year five, the “standard conversion option” offers conversion to Protective ProClassic UL and Protective Non-Par Whole Life. The conversion period ends two years prior to the end of the term period, not to exceed 18 years.
*Product availability is subject to change.
All Conversion rights expire at the anniversary nearest the insured’s 70th birthday

13. Riders* Children’s Term Rider Accidental Death Benefit
Up to $20,000 for each child through age 25
At age 25, convert up to 5X the initial death benefit
Accidental Death Benefit
Lesser of $250,000 or base face amount
Riders available on Protective Classic Choice Term are the Children’s Term Rider, available to all natural, adopted and stepchildren within issue age and coverage limits. At age 25, when each child is no longer eligible to be insured under the rider, Protective offers the opportunity to convert to a permanent life insurance policy with a face amount up to 5 times the original Children’s Term Rider amount.
Accidental Death Benefit Rider provides coverage that pays an additional death benefit if the insured dies as the result of an accident.
Waiver of Premium will waive the term premium, including riders, for total disability after a six month elimination period. The maximum face amount offered with Waiver of Premium is $3M.
Waiver of Premium
6 month elimination period
$3,000,000 face amount maximum
*Rider availability varies by state.

14. Competitive Benchmarking
Comparing Lowest Premiums
We measured competitive positioning over a wide variety of ages, underwriting classes, and face amounts between males and females across a wide variety of term carriers in our competitive benchmarking group. Protective Classic Choice Term ranks in the top 5 lowest premiums nearly all the time, while it ranks in the top 3 lowest premiums better than 85% of the time when we look at the 10-year and 20-year plans.
2 10 year level benefit period rank. Ranks based on 216 pricing cells.
3 15 year level benefit period rank. Ranks based on 192 pricing cells.
4 20 year level benefit period rank. Ranks based on 168 pricing cells.

15. Competitive Benchmarking
Data in the comparison below are based on information available from the companies and is believed to be current as of August 2017, but is subject to change. Not all policies are available in all states. The contents of this slide are for illustration purposes only. Individual situations will be different based on age, sex, and health status of your clients. For current information, please use our ELI software or WinFlex.
Post Level Premiums
Male, Age 40, Preferred, $500,000 Face Amount, 20 Year Term
years
1-20
year 21
SBLI
Term
$487
$18,182
(+3,733%)
Banner OPTerm
$452
$9,540
(+2,110%)
American General Select a Term
$434
$9,379
(+2,165%)
You’ll remember that toward the beginning of the presentation, I mentioned that Protective “does the right thing”. You’re all aware that term premiums spike in the year following the end of the term period. This graph shows how severe those spikes can be. Protective Classic Choice Term has premiums that take a much more gradual increase and rise by only a small fraction of the increases illustrated by other carriers.
Protective
Classic
Choice Term
$435
$2,210
(+508%) 1 10 20 21 22 23 24 25
years

16. Protective Classic Choice Term Kit
BGA & Wholesale Channel
Protective Classic Choice Term has a full suite of marketing materials available to support your sales, including a side by side comparison to Protective Custom Choice UL plans of product specifications and features, along with materials focused on Protective Classic Choice Term by itself.

17. Marketing Resources
Prospecting Tools: letters and s for agents to send to clients Life Insurance 101: Educational videos and materials for clients Product Resources: product literature and training materials
Additional marketing resources may be found on its website, which includes prospecting tools, educational videos and materials, and our product literature.

18. Transition Guidelines
Applications still in underwriting will be allowed to switch to the term product upon request.
Additional forms may be required in certain states when switching from a UL to a term product.
Protective Custom Choice UL Plans will continue to be for sale, but if you find that you’d like to switch your client’s product from CCUL to Protective Classic Choice Term while the application is pending, you can do so upon request. Switching the product on a policy already issued with require an exception, however.
A new application is not required; we will amend for the new product.

19. The Choice Series Protective Custom Choice UL
Protective Advantage Choice UL
Protective Investors Choice VUL
Protective Indexed Choice UL
Protective Classic Choice Term
We’re excited to add Protective Classic Choice Term to the Choice Series, alongside Protective Custom Choice UL plans as part of our short-term solutions portfolio. We also offer Protective Advantage Choice UL for lifetime protection needs with cash value accumulation potential. Protective Indexed Choice UL will give even greater potential for cash value accumulation while offering death benefit protection to age 121, and Protective Investors Choice VUL offers all of these, but with uncapped accumulation potential. All products offer clients flexible features and benefits for customized coverage.

20. Let’s deliver on our promises. Together.
[read from slide]
For Financial Professional Use Only. Not for Use With Consumers. 20

21. Answers to your questions
Now I’d like to open things up for questions.

22. Important Information
Protective Custom Choice UL (UL-22) , a universal life insurance policy, and Protective Classic Choice Term ( ICC16-TL21/TL-21), a level death benefit term insurance policy, to age 90 are both issued by Protective Life Insurance Company, 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 of sex. In Montana, unisex rates apply. Premiums increase annually after the initial guaranteed premium period. All payments and guarantees are subject to the claims-paying ability of Protective Life Insurance Company.
Protective is a registered trademark of Protective Life Insurance Company; all product names are trademarks of Protective Life Insurance Company.
I’d like to take a moment to review some important information about this presentation before we answer questions <<review slide>>