Life insurance

Make Life insurance a part of your 'life' story

You work hard your whole life to provide for and protect the people you love most in the world. Life insurance can be an important aspect of planning for retirement -- helping bring you peace of mind and financial security for your family.

See how life insurance can be a part of your story.

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Compare options

Term life, whole life and universal life insurance plans have one sure thing in common: Each type pays a death benefit when the covered person passes away. The money can be used by heirs to replace income, pay off debts, leave a legacy, etc. But the three types can differ in terms of coverage length, premium flexibility, cash value accumulation and distribution, and other factors.

 

Term Life Insurance

Coverage Length

A pre-determined number of years

(i.e. 5, 10, or 20)

Death Benefit

Death Benefit Included 

Premium Payments

Most affordable and remain level throughout the term of the policy.

Cash Value

N/A

Advantages

Only buy what you need.

 

Whole Life Insurance

Coverage Length

Lifelong, permanent protection

Death Benefit

Death Benefit Included 

Premium Payments

Premiums are level for life and will never increase as long as they're paid on time.

Cash Value

Guaranteed Cash Value

Advantages

Guaranteed cash value accumulates over time and can be borrowed against.

 

Universal Life Insurance

Coverage Length

Lifelong, permanent protection

Death Benefit

Death Benefit Included PLUS Living Benefit* Option

Premium Payments

Premiums are flexible, choose to make higher payments when you can afford it or pay a lower amount if money is tight.

Cash Value

Guaranteed Cash Value

Advantages

Cash value accumulates tax-deferred and can be used in the future for any purpose.

*Allows you to use a portion of your death benefit as a "living benefit" if diagnosed with a permanent chronic illness.1

Which Life insurance plan is right for your retirement?

Our knowledgeable insurance agents sit down with you to understand your preferences and goals. They'll provide you with simple, clear choices and help customize a policy that meets your individual needs. You can count on your insurance agent to help make complex financial decisions about your future easier.

Hear what our customers are saying

Hear from our customers in their own words about the benefit of having a Bankers Life insurance agent by their side.



Rich Kelton and Jim and Wanda Schumann share stories about turning 65 and managing healthcare costs in retirement.