Protecting what matters most
Your family is your top priority. While your financial needs, goals and dreams will change, making sure your loved ones are protected will always be important. Life insurance can help provide peace of mind, knowing they’ll be O.K. financially.
What is life insurance?
Life insurance provides a tax-free death benefit to beneficiaries upon the death of an insured person.
Beneficiaries can use the money however they wish – to pay final expenses, reduce debt, cover medical bills and pay everyday living expenses like childcare, groceries and rent or mortgage payments.
How life insurance works
While nothing could replace you, life insurance can ease the financial burden caused by an untimely loss.
Life insurance proceeds can also help your loved ones maintain their lifestyle and help build their future – such as continuing a hobby, funding a college education or saving for retirement.
Securian offers two main types of life insurance policies: term and permanent. We’ve created a side-by-side comparison to help you understand the main features of each type and how they compare.
Term life insurance
Term life insurance is an affordable choice that generally provides coverage for a set period of time. The premiums — or regular payments you make — are the same throughout the specified time period. Term policies don't offer the potential for cash value accumulation.
Permanent life insurance
Permanent life insurance may provide coverage for your entire life and offers the potential to accumulate cash value tax-free. This cash value can be used on a tax-preferred basis throughout your lifetime for expenses like travel, college tuition or supplemental retirement income.
Types of permanent life insurance
There are two types of life insurance, term life insurance and permanent life insurance. Learn the difference between and which might be right for you.
Life insurance isn’t as complicated or expensive as people think. Here are five excellent reasons to buy life insurance now and stop procrastinating.