Life Insurance Protection
Life insurance to protect what matters most
Life is unpredictable, but protection for your family shouldn’t be. That’s why we offer both categories of life insurance — term life and permanent life.
Without the proper protection, substantial assets can be wiped out quickly. Imagine how you or your family would handle a loss of income as a result of a premature death.
TERM LIFE INSURANCE
Term life insurance provides guaranteed death benefit protection for a set number of years at a competitive rate that won’t increase during your term period. Plus, when you have a convertible term policy, you have the option to upgrade to a permanent life insurance policy for lifetime protection — generally without having to answer any health questions.
PERMANENT LIFE INSURANCE
Permanent life insurance can provide death benefit protection for life. Additionally, your policy can grow cash value that you can access at any time, for any reason.*
| Term | Permanent | |
|---|---|---|
| Main Purpose | Short-term protection | Long-term protection plus cash value accumulation to meet financial needs and goals |
| Coverage Duration | Limited time — generally 5 to 30 years; term coverage through work typically ends when you leave your job | Lifetime coverage as long as you continue to make payments on your policy |
| Builds cash value | Not applicable | Accumulates cash value on a tax-deferred basis |
| Access to Cash Value | Not applicable | Yes* |
| Cost | Lower when you buy at a younger age, but higher when you buy at an older age or when it comes time to renew or purchase a new policy | Initially higher than term, but becomes more cost-effective than term as you age |