Life Insurance & Annuities

Life insurance to protect what matters most

Life is unpredictable, but protection for your family shouldn’t be. That’s why we offer both categories of life insurance — term life and permanent life.

Term Life Insurance

Term life insurance provides guaranteed death benefit protection for a set number of years at a competitive rate that won’t increase during your term period. Plus, when you have a convertible term policy, you have the option to upgrade to a permanent life insurance policy for lifetime protection — generally without having to answer any health questions.

Permanent Life Insurance

Permanent life insurance can provide death benefit protection for life. Additionally, your policy can grow cash value that you can access at any time, for any reason.*

For both term and permanent life insurance, the death benefit is paid to your beneficiaries income-tax-free. To understand the differences, see the chart below.

	Term	Permanent
Main Purpose	Short-term protection	Long-term protection plus cash value accumulation to meet financial needs and goals
Coverage Duration	Limited time — generally 5 to 30 years; term coverage through work typically ends when you leave your job	Lifetime coverage as long as you continue to make payments on your policy
Builds cash value	Not applicable	Accumulates cash value on a tax-deferred basis
Access to Cash Value	Not applicable	Yes*
Cost	Lower when you buy at a younger age, but higher when you buy at an older age or when it comes time to renew or purchase a new policy	Initially higher than term, but becomes more cost-effective than term as you age

*Accessing cash value will reduce your policy death benefit and values, may result in certain fees and charges and may require additional premium payments to maintain coverage. Ask your financial professional for details on accessing your cash value, including how it might impact the coverage guarantees and situations when the values you access could be taxable. Always consult your tax advisor before accessing a policy’s cash value.

Annuities for your happy-ever-after

Annuities are financial vehicles that provide guaranteed income in retirement, so you can achieve everything you want to (and more) in your retirement years.

Variable Annuities

Variable annuities offer a wide array of investment options you can choose from to meet your specific needs and risk tolerance. You can even opt for additional protection to safeguard against inflation and market volatility. While variable annuities are a long-term financial retirement vehicle that offer the greatest growth potential, it’s important to keep in mind that the account values of a variable annuity are subject to market fluctuations and may lose value.

Fixed Annuities

Fixed annuities offer account value growth in the form of a fixed interest rate or performance tied to a market index (fixed indexed annuities). Fixed annuities are long-term financial retirement vehicles that offer moderate growth potential and account values will not be reduced due to negative market returns.

Immediate Annuities

Immediate annuities provide guaranteed lifetime income or income for a specified period for an individual or their spouse. Immediate annuities do not offer any growth potential as these products typically do not maintain an account value for liquidity purposes.

All guarantees are based on the claims-paying ability of the issuer. You should consider the investment objectives, risks, charges and expenses of a variable insurance product carefully before investing. Please read the prospectuses for the relevant variable insurance product and its underlying investment options, which contain this and other information about the product.

Variable Investment Options

Our variable life and annuity products provide a broad range of investment options, so you can make choices based on your needs and goals.

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