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LIFE INSURANCE

Help Protect Your Family’s Future

Take the first step with a FREE life insurance quote.

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What Is Life Insurance?

A life insurance policy is a contract where you pay premiums to an insurance company in exchange for a lump-sum payment, known as a death benefit, to your beneficiaries when you die. This death benefit helps provide financial security to your loved ones, helping them cover expenses like funeral costs, mortgage payments, or lost income.

Why Do I Need Life Insurance?

Protection

44% of families say they would face financial hardship if the primary wage earner died within 6 months2

Financial Security
69% of people agree that having life insurance is a key part of taking care of their loved ones financially1

Sense of Ease
69% of consumers with life insurance say they are less stressed knowing their loved ones are financially protected with life insurance1
41% of Americans say they want to work with an agent to purchase life insurance.1 Talk to a Financial Representative

What Are the 3 Main Types of Life Insurance?

Whole Life Insurance

  • Permanent life insurance with no expiration date
  • Policy premiums remain constant
  • Accumulates cash value
  • May offer the potential for dividends
Explore Whole Life Policies

Universal Life Insurance

  • Permanent life insurance coverage can potentially last your entire life
  • Flexibility to change death benefits and premium each year
  • Accumulates cash value
  • You can withdraw money or borrow against the policy's cash value
Explore Universal Life Policies

Term Life Insurance

  • Lasts for a set amount of time, such as a five-year term or a 30-year term
  • Premiums are fixed and guaranteed not to change for the term length
  • Can be converted to permanent life insurance coverage at any point
  • Plan stays with you were you to change employers
Explore Term Life Policies
GET A LIFE... Learn about Life Insurance Awareness

Watch this video to learn about how life insurance can help protect your loved ones and leave a larger legacy!

family eating popcorn is covered by life insurance
family on couch reviewing life insurance policies

Which Is the Best Life Insurance Policy for Me?

Insurance and financial products aren't always one-size-fits-all solutions. Western & Southern offers you a variety of options to help protect each different stage of your life.

Learn about the different types of life insurance options and the benefits of each.

Benefits Whole Life Universal Life Term Life
Guaranteed Lifetime Coverage Coverage that lasts throughout your entire life as long as premiums are paid
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Instant Online Quotes Preliminary instant life insurance quotes available to access your potential premium payouts and coverage
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May Build Cash Value Cash that grows tax-deferred and may be used during your lifetime
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Fixed Premiums Same amount owed every time a payment is due
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Flexible Premiums Adjustable premium and death benefit amounts when your needs change
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May Earn Dividends Potential income from company profits at recurring times throughout the year. Dividends are not guaranteed
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  Whole Life Universal Life Term Life

How Much is Life Insurance?

The cost of life insurance depends on several key factors:

  • Death benefit amount
  • Type of policy and term length
  • Age, gender, and medical history
  • Lifestyle and occupation

Did You Know?

More than half of Americans overestimate the cost of life insurance by as much as threefold, according to LIMRA's Top Misconceptions about Life Insurance2. This is especially true for younger generations.

Average Policy Cost

43% of Millennials think term life insurance costs $1,000 a year, but a healthy 30-year-old pays around $170.2
$170/yr

 How Much Life Insurance Do I Need?

Answer a few questions about your life situation to estimate how much coverage you might need.

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How many years is your family relying on your annual income?
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Advanced Calculator
Assets
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Debt
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Final Expenses
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Children
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Coverage Amount $0
Get My Free Quote Coverage Amount

Frequently Asked Life Insurance Questions

How does life insurance work?
First, you purchase a life insurance policy from an insurance company and agree to pay regular premiums, either for a set period or your entire life, depending on the policy type. As long as you continue paying these premiums, the contract remains in force. Upon your death, the insurance company pays out the agreed-upon, generally tax-free death benefit to your designated beneficiaries.

Are life insurance proceeds taxable?
Generally, life insurance death benefits paid out to beneficiaries upon the death of the insured person are not subject to federal income tax. However, the proceeds might be included in the deceased's estate and could potentially be subject to federal or state estate taxes if the estate's value exceeds certain thresholds.

What does life insurance cover?
Life insurance primarily covers the death of the insured person, providing a tax-free death benefit payout to the designated beneficiaries upon that event. Beneficiaries can use these funds for any purpose, such as covering funeral expenses, paying off debts like mortgages, replacing lost income, or funding future expenses, including education.

Do I need life insurance?
You likely need life insurance if others depend on your income, such as a spouse or children, or if you have significant debts like a mortgage that would burden others upon your death. Consider getting coverage if your passing would cause financial hardship for someone you care about or if you want to ensure funds are available for final expenses or specific future goals.

How to get life insurance?
To obtain life insurance, you typically begin by researching policy types and coverage amounts, then comparing quotes either directly, online, or through an agent. Once you choose a policy, you'll complete an application detailing your health and lifestyle, undergo underwriting, which may include a medical exam, and upon approval, activate the policy by paying your first premium.

Get Your Life Insurance Quote Today

Get My Free Quote
Or
Give us a call 866-832-7714 866-832-7714

Why Western & Southern?

We have a heritage of providing life insurance for over 135 years. Our financial ratings from the major rating agencies are indicators of our financial strength, offering you the stability you can count on. As one of the strongest life insurance groups, we know how to help protect your financial future.

Financial Strength

established 1888

Longevity & Stability

95 Comdex Ranking

Financial Ratings

Learn More About Life Insurance

Life Insurance Guide • Life Insurance Basics • Types of Life Insurance • Who Needs Life Insurance? • How to Buy Life Insurance • Life Insurance Riders • Life Insurance Calculator

Why Life Insurance Is Important: 9 Meaningful Benefits

Term vs. Whole Life Insurance: Which Is Right for You?

What Is Permanent Life Insurance & Is It Right for You?

A Guide to No Medical Exam Life Insurance

Can You Take Out a Life Insurance Policy on Anyone?

What Does Life Insurance Cover?

Whole Life Insurance vs. Universal Life Insurance: What's the Difference?

How Does the COVID-19 Vaccine Affect Life Insurance Coverage?

IMPORTANT DISCLOSURES
1 2024 Insurance Barometer Study, LIMRA and Life Happens
2 Top Misconceptions About Life Insurance

3 There must be enough cash value in the policy to cover monthly charges if a lower premium is paid than the amount selected at issue or if a premium payment is skipped. Additional premium payments may need to be made to keep the policy in force.

Loans will accrue interest. Loans and withdrawals may generate an income tax liability, reduce the Account Value and the Death Benefit, and may cause the policy to lapse. The policy may be issued as a Modified Endowment Contract (MEC) for tax purposes. Any withdrawals or surrenders could result in a taxable event. Keep in mind that cash values may take years to accumulate, unless a large premium is paid up front.