What type of life insurance is right for me?

What type is right for me?

The right life insurance policy can help you protect your loved ones, keep your hard-earned savings secure, and create a legacy that you can pass along with pride. With the options today, there’s a policy for every need.

Life insurance no longer has to be just temporary. The market has evolved with policies that can last a lifetime. Learn about the different options you have today.

Temporary Life insurance is just that, temporary. You pay a premium for a fixed amount of time, or specific term (e.g., 10, 15, 20, or 30 years) and receive a guaranteed death benefit if you die during that period. This is good for short-term needs.
Permanent Life insurance is built to last up to a lifetime. These policies offer the protection you’re looking for plus growth potential with access to cash value, and tax advantages you might not get in more traditional investments.

A quick comparison

Use this chart to get an overview of the differences and see which one might best meet your needs. A financial professional can walk you through your options and discuss the right solution for you.

	Temporary Life	Permanent Life
Also known as	Term	Whole*, Universal, Indexed Universal, Variable Universal
Primary goal	To protect what matters most to you	To protect your loved ones with potential growth and reducing your future taxes
Payments from policyholder	Fixed premium	Flexible premiums
Guaranteed Death Benefit Options	Yes, within the specified period of time you cover	Lifetime protection available
Tax-deferred growth potential	No	Yes
What makes it different	Temporary Life provides a cost-efficient way to protect what matters most for a set amount of time	Permanent Life offers protection plus tax-deferred investment options and tax-free withdrawals. You can customize the amount and duration of coverage. Once you’ve paid your premiums, coverage continues throughout the rest of your life.