Compare Life Insurance Policy Options

Choosing life insurance with American Family Life Insurance Company means you have the freedom to build a policy that’s best for you and your family. Whether you're looking for whole or term life insurance, our comparison chart makes it simple to compare your life insurance options. Before you start comparing life insurance policies, let’s take a look at the differences at a glance:

Comparing Whole Life vs. Term Life Insurance

There are two main types of life insurance: term life insurance and whole life insurance. Here are the key differences between the two.

Term life insurance

• Offers coverage for a specific period of time
• If you pass away while the policy is in effect, your beneficiary will receive a death benefit
• If your term life insurance policy expires before you pass away, your beneficiaries won’t receive a payout
• You may be able to extend your coverage after the initial policy term ends or convert it to a long-term policy

Whole life insurance

• Offers coverage for your whole life (subject to policy terms and conditions)
• Typically more expensive than a term life policy
• Can accumulate cash value that you can borrow against while you’re still living

Life insurance is a great way to help financially protect the ones who matter most. That’s why it’s important to have a life insurance policy. Take these factors into consideration when choosing between the different types of life insurance.

Is term life insurance right for me?

Term life insurance is often popular with younger people who are just starting their families, new homeowners with a mortgage, or those who wish to provide funds to replace income for loved ones if they were to die. Consider this policy if you want to choose how much coverage you want for a specific length of time.

Is whole life insurance right for me?

If you want coverage that lasts a lifetime instead of only for a specific amount of time, whole life insurance is right for you. Plus, if you need help with things down the road, like a down payment on a house or paying for college tuition, the benefit of cash value that you can borrow against may be appealing to you.

Is flexible life insurance right for me?

Flexible life insurance is a smart choice if you value flexibility. The ability to change your policy to fit your needs at any stage of your life is one of the biggest perks of this type of life insurance. Choosing flexible life insurance also gives you the ability to build cash value in your policy too.