Reminder of Initial Premium Guidelines
We accept premiums with the application up to a face amount of $1,000,000, in-force and applied for, to include Protective and its affiliates.
Under the Conditional Life Receipt, premium should not be accepted if the client:
- Is under 15 days of age or over age 80
- Has been admitted to a hospital or other medical facility, been advised to be admitted, or had surgery performed or recommended within the past 90 days
- Has had treatment recommended, or has been treated within the past 2 years for heart trouble, stroke or cancer
- Has been rated or declined for insurance within the past 5 years
- Intends to leave the United States within the next 60 days
Important conditional life receipt notes:
- Explain to your client that the Conditional Life Receipt provides limited coverage under specific conditions
- Ensure that the Conditional Life Receipt is fully completed, and the applicant’s copy is left with the applicant when money is collected
- If premium is received with the application and the applicant’s copy of the Conditional Life Receipt is attached, a letter from Protective’s home office will be sent to the applicant enclosing their copy
- Postdated checks will not be accepted
Please note, if premium is received with the application which is outside the above listed guidelines, or the Conditional Life Receipt is not fully completed:
- We will communicate before the premium is returned, allowing you the opportunity to contact your client
- We will return the premium to the premium payor
Please refer to the Acceptable Forms of Money grid for Check Acceptance Guidelines.