Life insurance can help you plan for the future

Protect the people who matter most

Get peace of mind and protection for loved ones with life insurance. Life insurance can help your loved ones pay for funeral costs, cover bills and ongoing living expenses, pay off debts, finance future needs and protect retirement plans.

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How life insurance works

Get the coverage that’s right for your needs

No matter where you are in life, you can get coverage that’s right for your needs with options that can help you protect your family’s future.

  • Benefits are typically paid tax-free to the person you choose to receive your benefits.
  • Life insurance policies are portable, so you can keep your coverage if you change jobs or retire.
  • Guaranteed‐issue coverage may be available for some plans, which means no medical questions or exams are required to be eligible for coverage.

Below is an overview of the major types of life insurance offered by Colonial Life. While your age and health can affect your options, your benefits counselor can help you determine what coverage is right for you.


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

Life insurance calculator

Colonial Life is proud to work with Life Happens to help America’s workers understand the value of life insurance. Find out how much life insurance you need with the Life Happens Life Insurance Calculator.



8 in 10 Americans overestimate the true cost of life insurance.2


Employers and HR representatives

Find out more about offering Colonial Life individual or group life insurance for your employees.

Commonly asked questions about life insurance

1. LIMRA, “Life Insurance Ownership in Focus: U.S. Household Trends” (2016)
2. Insurance Barometer Study, Life Happens and LIMRA (2017)