Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com.

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Oct 27, 2020

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Amalgamated Life vs Protective Life Insurance Company

The one thing that Amalgamated Life Insurance Company and Protective Life Insurance Company have in common is the fact that they both have done an excellent job in defining and addressing their respective customer demographics. That being said, they are uniquely different companies offering distinctly unique products to very specific groups of people.

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Both Amalgamated Life and Protective Life are financially strong, based on independent ratings. That is where the similarity ends.

Also known as America’s Labor Insurance Company, Amalgamated Life directs its attention to the needs of working people and their families. Sustaining a clientele consisting of unions, union members, fund administrators, nonunion members, brokers and consultants, Amalgamated Life Insurance Company provides affordable life, health and pension insurance to its customer base.

Amalgamated Offers Basic Group Term Life Insurance

Amalgamated’s basic group term life insurance offers the ability to:

  • Convert to an individual permanent policy
  • Choose the amount of benefits

Amalgamated Life vs Protective Life Insurance Company Family

Additional coverage includes dependent, retiree and supplement life coverage. Amalgamated’s insurance for dependents allows members to buy additional term life insurance that covers their spouse and children. The retiree life policy is offered only by employers and usually covers only the retiree, excluding the retiree’s immediate family members.

The final option, supplemental life insurance, is often used as a complement to group term life insurance offered by Amalgamated. It is offered to members and their spouse and children, thereby increasing the financial security of the client.

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Coverage for Accidents

Amalgamated offers accidental death and dismemberment coverage insurance for injuries that are sustained either on or off the job.

However, the Accidental Death and Dismemberment option from Amalgamated is provided only in conjunction with group term life policies.

Amalgamated provides both short-term and long-term disability policies. The short-term disability insurance plan offered by Amalgamated Life offers protection during situations that occur outside the realm of the working environment and include events such as illness, pregnancy, or accidents. Amalgamated’s long-term disability insurance plan offers coverage for non-work-related occurrences that result in sustained illness on the part of the client.

Amalagamted and Protective Life Insurance Offer Disability

Voluntary Insurance Products

In addition to the supplement coverage options there are voluntary choices that employees can select.

  • Worker’s Life Plus – offers protection while the client is employed. Additionally, the benefits decrease with age while the premium stays the same for the life of the policy. Available options include the addition of coverage for the client’s spouse or children and the addition of the critical illness benefit.
  • Worker’s Life Level – provides coverage while the client is employed. The premium, in this case, increases with age but the benefits stay the same for the life of the policy.
  • Critical Illness Protection – extends a lump sum payment to clients who have been confined to a hospital for 30 consecutive days or have been diagnosed with serious illnesses such as cancer, paralysis, renal failure, stroke or heart attack.

Protective Offers Term and Permanent Life Insurance

Amalgamated Life vs Protective Life Family

Protective Life Insurance differs from Amalgamated Life Insurance in that its demographic focus is directed to people such as retirees, estate owners, or even owners of boats or recreational motor homes who are concerned not only with protecting the assets that they currently have but also with enhancing and improving their funds growth in the investment sector. Therefore, Protective Life Insurance Company offers:

  • Term and Alternative to Term – offer the option to renew or change to a permanent policy at a later date. Additionally, the initial-level premiums are affordable, and a guaranteed death benefit is provided for a specific span of time.
  • Universal Life – extends clients access to their policy values. Furthermore, the premiums are flexible while the death benefit is adjustable. In addition, lapse protection is available, and this insurance plan offers the possibility of cash-value accumulation.
  • Survivorship Life – extends coverage to two people, usually a husband and wife, and disburses a death benefit at the death of the second person that was insured.
  • Whole Life – offers access to the client’s policy value on a permanent, lifelong basis. Perfect for wealth preservation and the accumulation of assets, this product provides permanent protection and offers cash value increases that are tax-deferred.
  • Single Premium Variable Life – addresses the needs of people who need assistance in protecting long-term financial endeavors such as wealth transfers or estate considerations. It combines long-term investment possibilities with death benefit protection and offers a one-time payment of premium.
  • Variable Universal Life – combines long-term investment potential with comprehensive lifetime coverage.
  • Fixed Annuities – offer low risk and guaranteed growth to retirees who are seeking to grow their retirement savings.
  • Variable Annuities – offer market gains while protecting the client’s portfolio from downside risk. Additionally, benefits are guaranteed to last the lifetime of the client or the client’s spouse.
  • Single Premium Immediate Annuities – provide immediate income by enabling the client to convert assets into a consistent stream of annuity payments.

Protective Life Insurance Company also offers insurance protection for the automotive, marine and recreational vehicle needs of its clients.

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What Customers Say About Amalgamated and Protective

Unfortunately, there was very little information provided on the customer satisfaction level on the Internet website, FreeAdvice.com, with reference to Amalgamated Life Insurance Company. However, one point that is inescapable is the fact that most of its insurance policies are not available in all states.

Other Amalgamated reviews on financial strength are consistently good, even if the policies are not available everywhere.

On the other hand, exceptional options are provided to clients when they purchase basic group life plans through their employers, making it an economical choice for the everyday working person who has a family to take care of. It does seem that Amalgamated is staying true to its commitment to provide affordable insurance to the average guy who is trying to make a living to provide for his family. Additionally, no news is good news when it comes to customer complaints.

Amalgamated Life vs Protective Life Insurance Company Couple

Unfortunately, the news for Protective Life Insurance Company was not anywhere near positive when it came to customer satisfaction. There were an abundance of complaints leveled by clients on the Internet website, FreeAdvice.com. To be fair, reviews are by state and there may be a state where this company has better reviews.

Out of the 22 respondents who answered the survey about Protective, 48% stated that they would definitely not renew their insurance policy or policies with the company.

Furthermore, 60% stated that they would definitely not recommend this insurance company to their friends and family. This really is a shame since Protective has so much to offer in the way of specialized insurance plans that appeal to an affluent clientele. Even so, without a proven track record of fairness and dependability connected to timely distribution of benefits to its clients, it will soon lose any potential that it currently has to improve its standing as an average, run-of-the-mill insurance company.

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