Life insurance helps employees take care of their loved ones

Empower your employees to protect the people who matter most

When employees have people who depend on them, life insurance is especially important. You can help provide your employees with peace of mind by offering Life insurance that will help them provide for their loved ones after they're gone.

Plan administrators, our secure site helps you do business with us even more easily. Not registered?

How life insurance works

Increase your benefit coverage portfolio without impacting your bottom line

No matter where your employees are in life, they can get coverage that’s right for them with options that can help them protect their family’s future. Life insurance pays a benefit to their loved ones in the event of their death, and certain types of coverage can also build cash value over time.

Life insurance can help an employee’s family with things like:

  • Paying medical and funeral bills1
  • Replacing lost income
  • Paying off a mortgage and other debts
  • Protecting retirement plans
  • Funding college expenses

Below is an overview of the major types of life insurance offered by Colonial Life.

  Term Life Whole Life
Key features Level Term

Guarantees a stated death benefit during the specified term and is ideal for the high-demand years.

Level Premium

Coverage that remains the same to age 100

Cost $ $$
Death benefit Payable if you pass away within the term period you select Stays the same as long as you make payments
Plan options 10-, 15-, 20- or 30-year option Paid-Up at Age 70 or Paid-Up at Age 100
Premium payments Stay the same during the selected term period
Remain the same and end at paid-up age
Cash value Not a feature of term life Values are set when you purchase the policy

Our life insurance is designed with both employees and employers in mind

Employers and HR professionals

  • Provide a sound benefits package that can help attract and retain high-performing employees, without incurring additional company expenses
  • Manage the increasing costs of coverage through voluntary benefits and potential savings

Your employees and their families

  • Can gain peace of mind knowing that they can help make sure loved ones are cared for when they're no longer here
  • Benefits are paid directly to the beneficiary and can be used however they'd like, regardless of any other insurance the policyholder may have
  • Customize their coverage amount to best meet their needs
  • Can keep their coverage even if they change jobs or retire

Commonly asked questions about life insurance

Take the next step

Term Life (ITL5000): Applicable policy forms ICC18-ITL5000, ITL5000.

Whole Life Plus (IWL5000): Applicable policy forms ICC19-IWL5000-70, IWL5000-70, ICC19-IWL5000-100, IWL5000-100, ICC19-IWL5000J, IWL5000J.

Group Term Life: Applicable policy form GTL1.0-P.

1. This life insurance does not specifically cover funeral goods or services and may not cover the entire cost of your funeral at the time of your death. The beneficiary of this life insurance may use the proceeds for any purpose, unless otherwise directed.

Insurance products are underwritten by Colonial Life & Accident Insurance Company, Columbia, SC. This information is not intended to be a complete description of the insurance coverage available. The insurance or its provisions may vary or be unavailable in some states. The insurance has exclusions and limitations which may affect any benefits payable. For cost and complete details of coverage, call or write your Colonial Life benefits representative or the company.