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.
Almost half of U.S. households are underinsured, with the average coverage gap of $200,000.1
|Term Life||Universal Life||Whole Life|
Ideal coverage for high-demand years when you need coverage most
Flexibility to manage your policy over time as needs change
Permanent coverage that remains the same
|Death benefit||Payable if you pass away within the term period you select||May be increased or decreased to suit your needs (within certain guidelines)||Stays the same as long as you make payments|
|Premium payments||Stay the same during the selected term period
||Vary depending on changes to the death benefit amount or fluctuations in credited interest rates||Remain the same throughout the life of the policy|
|Cash value||Not a feature of term life||Builds based on credited interest rates||Values are set when you purchase the policy|
You can purchase a life insurance plan at an affordable cost. The cost will vary based on your age and the amount of coverage you purchase.
Depending on the plan and face amount you choose, you may be asked some health questions. Your answers will be used to determine whether you are eligible for coverage.
Yes, in most cases. Depending on your plan and the amount of coverage desired, you may need to answer health questions.
To notify Colonial Life about the loss of life of a life insurance policyholder, please complete the loss of life notification form to begin the process of filing a life insurance claim.
Yes. You own your Colonial Life life insurance policy. Regardless of changes in your employment, you can take it with you. When your current employment ends, you will receive a Continuation of Coverage letter from Colonial Life with instructions on next steps. You will need to change your payment method to direct bill, which means you pay Colonial Life directly instead of paying through payroll deduction. To learn more and begin this process, download the Conversion Request Form.