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. Life insurance can give your employees peace of mind and help them provide for their loved ones after they're gone.

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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 bills
  • 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.


Almost half of U.S. households are underinsured, with the average coverage gap of $200,000.1

  Term Life Whole Life
Key features Level

Ideal coverage for high-demand years

Guaranteed

Permanent 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 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

1. LIMRA, “Life Insurance Ownership in Focus: U.S. Household Trends” (2016)

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