Protective Life Insurance Company recently announced the completion of its acquisition of JP Morgan Chase & Co.'s life insurance and related noninsurance businesses. One of those businesses, Chase Insurance Life & Annuity Company, is a current offering in QuickQuote's term life insurance marketplace.
"With the acquisition, Protective is adding roughly $6.7 billion of term life, universal life and fixed annuity reserves and about $7.4 billion of assets to its balance sheet," said A.M. Best financial analyst Darian Hala.
Protective Life Insurance Comany's parent company, Protective Life Corporation, is also the parent company of West Coast Life Insurance Company, another company available through QuickQuote.
As a result of the Protective Life acquisition, Chase's term life insurance products will no longer be available after July 31, 2006. QuickQuote will cease quoting of these products in mid-July, with all outstanding applications due back in our office by July 31, 2006.
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