Insurance Products

Learn about Term Life Insurance

Why Term Life Insurance?

Life Insurance could be the right choice for you if you need coverage for a set time. Term insurance is typically more economical. Coverage ends when the term expires. Choose a 5-, 10-, 15-, 20- or 30-year term based on your specific needs and your vision of the years ahead.

Term Life Insurance is insurance for a specific number of years, and is intended to:

• Help replace lost income
• Cover needs that will go away over time

Most policies have coverage that will not change for the length of the term selected.

Learn about Whole Life Insurance

How does Whole Life differ from Term Life?

Unlike term insurance, whole life offers coverage for your entire life. And it accumulates cash value, which is accessible in the form of loans or withdrawals. So whole life can represent a future source of money as well as protection. The premiums are guaranteed to remain the same throughout your lifetime.

Coverage to benefit varying ages and family situations

Whole life coverage can be a beneficial option for an array of ages and family situations:

• Customers of all ages may be eligible to apply (depending on the product offered).
• Children and grandchildren benefit because the policy is designed for lower premiums at a young age, and the premium remains level.
• Young families with limited premium dollars benefit because it provides a simple insurance plan offering financial security and cash values.
• More mature customers benefit because of tax-favored accumulation of cash value and life insurance coverage.
• Premiums are paid over your lifetime, or a shorter period, depending on the product offered.

Accumulation of cash values

Cash values accumulate at a fixed rate. The cash value can be used to purchase extended term insurance, or to purchase paid-up insurance, or the policy can be surrendered for its cash value.