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.
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.
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.
| 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 |
Term Life (ITL5000): Applicable policy forms ICC18-ITL5000, ITL5000.
Whole Life Plus (IWL5000: Applicable policy forms ICC19-IWL5000-70, IWL5000-70, ICC19-IWL5000-100, IWL5000-100, ICC19-IWL5000J, IWL5000J.
Group Term Life: Applicable policy form GTL1.0-P.
