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Life Insurance
What is a life insurance policy?
Life insurance provides financial protection for your family in the event of your passing. Your beneficiaries will receive money to use as they see fit, ensuring security in a difficult time.
When to get life insurance ?
- If you were just married
- You bought a new home
- You're expecting a new baby
What are the 3 types of life insurance?
Life insurance options at a glance:
Term life insurance
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.
Whole life insurance
Gives you level premiums, strong guarantees, and valuable protection. It can also build cash value, which you can access through loans.
Fixed annuities/fixed income
With a Single Premium Deferred Annuity (SPDA) or Fixed Indexed Annuity (FIA), you make just one lump-sum premium payment in exchange for a guaranteed stream of income for your retirement years.
What is the best life insurance for me?
Each type of life insurance is designed to meet different needs. Get more detail about what's included in each option to understand which may be right for you and your family.
- 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)
- 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
- A long-term interest rate guarantee (for example, 60-month)
- Earns tax-deferred interest
- Access to cash in case of certain qualifying conditions for owner and spouse
- Access to indexed strategies to potentially earn higher interest (FIA only)