Protective recently announced a change to the way they will handle term conversions on older policies.
With the launch of their ProClassic Legacy policy, they have also announced a discontinuation of ProClassic UL, as well as a discontinuation of conversion to their full portfolio for products issued prior to January 1, 2010. Clients have until June 29, 2018, to convert their policies before this change takes effect.
We are reaching out individually to brokers with clients with existing Protective or West Coast life term policies that will be affected by this change.
The new conversion option appears to cost about twice as much as the old conversion options. If your client might be interested in conversion, don’t wait!
Please don’t hesitate to reach out to our Life Sales Team if you have questions in the meantime. And click here for the complete bulletin.