Whether you're a breadwinner or a stay-at-home parent, you probably need life insurance to protect the people who depend on you. And in most instances, life insurance benefits are free from income tax for the beneficiary.
What if you or your spouse were suddenly out of the picture? Do your loved ones have enough financial resources to pay for child care, college and everything in between?
Taking a look at your life insurance needs every few years is important to ensure you have enough coverage. Like most people, you may not know how much coverage you need. The best way to evaluate your life insurance needs is to talk with a benefits counselor. Proper planning can guarantee a secure financial future for you and your loved ones.
The Colonial Life portfolio of life insurance offers several plans to supplement your existing life coverage.
We offer Term Life Insurance, Whole Life Insurance, Universal Life Insurance and a Group Term Life Insurance plan.
This coverage may not be available in all states; product benefits vary by state. Policies have exclusions and limitations that may affect benefits payable. For cost and complete details, please see your Colonial Life benefits representative.
Colonial Life's Term Life Insurance is easy and economical life insurance for the first-time buyer or someone who wants to supplement their existing coverage during the high-need years. It is available through individual sales or through worksite payroll-deduction sales.
This term life insurance plan offers:
This life insurance plan also offers the following advantages:
* Unless you have used the Accelerated Death Benefit Provision or Waiver of Premium Benefit Rider.
Product benefits vary by state. Policies have exclusions and limitations that may affect benefits payable. For cost and complete details, please see your Colonial Life benefits representative.
Applicable to policy forms TERM1000 and rider forms TERM1000-ADB, TERM1000-CTR, TERM1000-STR, and TERM1000-WAIVER. If you are in Virginia, please read this important information.
Would you like to receive additional information about Colonial Life's Term Life Plan? More Info Request Form
Often called permanent life insurance, whole life insurance provides life-long protection for your loved ones. You can count on it to be there your whole life, to provide you and family with financial security and protection now and in the future.
Colonial Life's Whole Life Insurance provides guarantees — cash value accumulation, premium rates and death benefit — that help ensure those benefits will be there when they're needed. And it accumulates cash value while it's protecting your family's way of life.
This whole life insurance is an individual plan that offers:
Our whole life insurance provides coverage in small to moderate face amounts. This plan's death benefit provides your beneficiary income for six or 12 months until other optional benefits you may have from Social Security, your employer or other life insurance plans are paid.
This life insurance plan also offers the following advantages.
Immediate Cash Payment: Your policy will pay an immediate cash payment of $1,000, $2,500 or $3,000 to your beneficiary. This amount is paid before the remainder of the death benefit and can be used to help pay for final expenses, while your other insurance claims are being processed. This cash payment amount is based on the policy face amount.
Guaranteed Purchase Option: You may increase your life coverage without providing proof of good health at the second and fifth policy years if you're age 55 or younger at date of issue. This extra coverage can be purchased without answering any health questions if your original policy is purchased before age 55.
Portable: If you change jobs or retire, you can take this coverage with you. Coverage is also available for your spouse and your children through term life riders.
Optional Coverage: Riders are available at an additional cost. Several additional coverage options are available for you and your family. Ask your benefits representative for details.
This coverage may not be available in all states; product benefits vary by state. Policies have exclusions and limitations that may affect benefits payable. For cost and complete details, please see your Colonial Life benefits representative.
Applicable to policy form LBCDGP(96), LBCDNO(96), LBGP(96), LBNO(96) and rider forms SR85 and CR85, including state abbreviations where used. If you are in Virginia, please read this important information.
Would you like to receive additional information about Colonial Life's Whole Life Plan? More Info Request Form
Colonial Life's Universal Life Insurance is an individual plan that offers:
Universal life insurance is a nice complement to term or group life insurance protection. This plan offers you the flexibility to change face amounts and premiums as your needs change. Your premium payment can build cash value at current interest rates.
Coverage is also available for your family.
This life insurance plan also offers the following advantages:
Portable: If you change jobs or retire, you can take this coverage with you. Coverage is also available for your spouse and your children through term life riders.
Optional Coverage: Available at an additional cost. Several additional coverage options are available for you and your family. Ask your benefits counselor for details. You can also supplement your universal life coverage with a waiver of premium rider and an accidental death benefit rider.
This coverage may not be available in all states; product benefits vary by state. Policies have exclusions and limitations that may affect benefits payable. For cost and complete details, please see your Colonial Life benefits representative.
Applicable to policy forms UL97, UL97NL, UL97-GPO, UL97NL-GPO and rider forms ULSTR, ULCTR, WMD88, R-ACR, R-GPO(97), Accel(97), ADB88, including state abbreviations where used. If you are in Virginia, please read this important information.
Would you like to receive additional information about Colonial Life's Universal Life Plan? More Info Request Form
With group life insurance, many coverage options are selected by the employer.
This group term life insurance plan offers:
Group term life insurance is available at low group rates and paid for with convenient payroll deduction.
Colonial Life's VGTL Insurance offers the following benefits:
Accelerated Death Benefit: You may receive a percentage of your life insurance benefit if you are diagnosed with a terminal illness. This feature also applies to your spouse and dependent children covered under this plan.
Waiver of Premium: If you become disabled, this allows your premium payments, including those for your covered spouse and dependent children, to be waived during the period of disability. Available as an employer option on some plans.
Optional Coverage: Riders are available at an additional cost. Several additional coverage options are available for you and your family. Ask your benefits representative for details. You can also supplement your group term life coverage with an accidental death and dismemberment rider.
This coverage may not be available in all states; product benefits vary by state. Policies have exclusions and limitations that may affect benefits payable. For cost and complete details, please see your Colonial Life benefits representative.
Applicable to policy form VGTL-C, including state abbreviations where used. If you are in Virginia, please read this important information.
Would you like to receive additional information about Colonial Life's Group Term Life Plan? More Info Request Form
