PROTECTING WHAT MATTERS MOST
Your family is your top priority. While your financial needs, goals and dreams will change, making sure your loved ones are protected will always be important. Life insurance can help provide peace of mind, knowing they’ll be okay financially.
While nothing could replace you, life insurance can ease the financial burden caused by an untimely loss. Life insurance provides a tax-free death benefit that your beneficiaries can use to pay your final expenses, reduce debt, cover medical bills and pay everyday living expenses like childcare, groceries and rent or mortgage payments. Life insurance proceeds can also help your loved ones maintain their lifestyle and help build their future – such as continuing a hobby, funding a college education or saving for retirement.
Term life is an affordable choice that generally provides coverage for a set period of time. The premiums – or regular payments you make– are the same throughout the specified time period. Term policies aren’t savings vehicles and don’t grow in value.
Permanent life insurance may provide coverage for your entire life and offers the potential to accumulate a tax-free cash value. This cash value can be used on a tax-preferred basis throughout your lifetime for expenses like travel, college tuition or supplemental retirement income.
What are the differences between term and permanent life insurance? We’ve created a side-by-side comparison to help you understand the main features of each type and how they compare.