What is life insurance?
Life insurance policies help provide security to either you or your beneficiaries after you pass away or after a designated period of time.
Types of Life Insurance
Term
Provides affordable coverage to meet your temporary needs. You’ll receive a guaranteed death benefit for the term you choose, and your payments are guaranteed to remain level for the length of the term.
What a term life policy can include:
- Level premiums for 10, 15, 20, or 30 years
- The option to continue coverage at the end of the level term period
- A built-in conversion guarantee
- A choice of riders or add-on benefits to customize coverage
- Temporary coverage without a lengthy application process or medical exam (Simplified Issue only)
Universal
Universal Life Insurance is permanent life insurance with an investment savings element and low premiums, similar to those of term life insurance. Unlike term life insurance, a universal policy can accumulate cash value.
Whole
Gives you level premiums, strong guarantees, and valuable protection. It can also build cash value, which you can access through loans.
What a whole life policy can include:
- Guaranteed income-tax free death benefit
- Guaranteed level premium
- Guaranteed cash value, which can grow tax-deferred
- A choice of riders or add-on benefits to customize coverage
- Permanent coverage without a lengthy application process or medical exam (Simplified Issue only)
- Death benefit immediately higher than the single premium (for Single Premium Whole Life)
- 100% return of premium guarantee (for Single Premium Whole Life)
- Minimum guaranteed return
- Immediate access to principal