Life Insurance Products

Term Life

Many families count on term insurance for temporary protection that can be more affordable than long-term coverage. The cost of term insurance can either be locked into a fixed amount for a specified period of time (10 to 20 years, for example), after which it will increase annually, or the cost can start lower but increase every year. It's important to remember that not all term insurance is alike. Term life insurance offers a variety of features and options that provide value and versatility that go beyond basic protection for your family and put you and your loved ones on the path toward financial preparedness.

Whole Life

Life insurance can be more than just a way to protect your family. It can also be a way to grow and protect your long-term wealth. Whole life is permanent life insurance, designed for the long-term, with steady cash value growth. Whole life can be a versatile tool to help meet several needs. The death benefit provides cash to your beneficiaries when you pass away, plus you get potentially tax-free access to your cash value while you are alive.2 This is cash that can be used to help you fund college education, assist in a down payment for a home, supplement retirement income, or help pay for anything else you need.1

Universal Life

Universal Life can be a cost-effective way to give your family the long-term financial security they need. Universal life offers a combination of long-term coverage and the ability to accumulate cash value3 with interest. However, because interest rate changes may affect your cash value accumulation, and consequently the premiums you need to pay over time, you need to monitor a universal life policy closely.

Variable Universal Life

As your financial needs change, you may want the freedom and flexibility to choose from a variety of investment options.4 Variable universal life policies provide death benefit protection and are long-term investment vehicles offering the potential for cash value accumulation—and you can adjust how premiums and cash value are allocated across a variety of investment options.

Linked-benefit Products (Universal life with long-term care insurance benefits)

For those seeking to protect themselves from a long-term care event, a product that combines life insurance with long-term care insurance protection may help address your needs. A linked-benefit product provides multiple benefits in one product. By combining life insurance and long-term care insurance, the product provides a death benefit*, or allows policy owners to use the death benefit for qualified long term care expenses. There is even an additional long term care benefit once the death benefit is exhausted for long term care. The product also provides a return of premium benefit for policy owners that terminate their coverage.**

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 1 While dividends are not guaranteed, participating whole life policy owners have received them every year since 1854. 

2 Cash value can be accessed by loan or by withdrawal (sometimes known as partial surrender). Loans accrue interest and, if not repaid, will reduce the death benefit of the policy. Your policy may also end sooner than expected if the loan is not repaid. Accessing the cash value through withdrawal (partial surrender) will reduce the total cash value and possibly the death benefit.

3 Cash value accumulation on universal life and variable universal life is not guaranteed.

4 Cash value is the monetary value that has accumulated in your policy. For variable universal life, cash value is the monetary value that has accumulated in your policy across all of its Investment Options.

* Residual Death Benefit is the lesser of $25,000 or 10% of the death benefit calculated on the long-term care benefit commencement date.

** There may be tax implications with respect to certain distributions from a policy treated as a “modified endowment contract” (MEC). Distributions, (for this purpose, including loans) from a MEC are taxable to the extent of the gain in the policy and may also be subject to a 10% penalty tax if the owner is under age 59½.