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