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.
Term Life Insurance
Permanent life insurance
For both term and permanent life insurance, the death benefit is paid to your beneficiaries income-tax-free. To understand the differences, see the chart below.
|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*|
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|
Annuities for your happy-ever-after
Annuities are financial vehicles that provide guaranteed income in retirement, so you can achieve everything you want to (and more) in your retirement years.
Types of Annuities
Variable annuities offer a wide array of investment options you can choose from to meet your specific needs and risk tolerance. You can even opt for additional protection to safeguard against inflation and market volatility. While variable annuities are a long-term financial retirement vehicle that offer the greatest growth potential, it’s important to keep in mind that the account values of a variable annuity are subject to market fluctuations and may lose value.
Fixed annuities offer account value growth in the form of a fixed interest rate or performance tied to a market index (fixed indexed annuities). Fixed annuities are long-term financial retirement vehicles that offer moderate growth potential and account values will not be reduced due to negative market returns.
Immediate annuities provide guaranteed lifetime income or income for a specified period for an individual or their spouse. Immediate annuities do not offer any growth potential as these products typically do not maintain an account value for liquidity purposes.
Variable Investment Options
Our variable life and annuity products provide a broad range of investment options, so you can make choices based on your needs and goals.