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 Universal Life Whole Life
Key features Level

Ideal coverage for high-demand years when you need coverage most

Flexible

Flexibility to manage your policy over time as needs change

Guaranteed

Permanent coverage that remains the same

Cost $ $$ $$$
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


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

How much does life insurance typically cost?

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.

Am I guaranteed coverage?

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.

Can I increase my coverage later?

Yes, in most cases. Depending on your plan and the amount of coverage desired, you may need to answer health questions.

I already have a life insurance policy from Colonial Life. Where can I find a copy of my policy?

To view a copy of your policy, update your contact information and manage your Colonial Life insurance, log in to your account. If you don’t have an account, register here.

How can a beneficiary file a claim?

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.

Can I keep my life insurance coverage if I leave my job?

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.