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Life Insurance Comparison

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 Policy Comparison Chart

Take a look at our life insurance comparison chart to better understand your options and select the right coverage for you to protect what matters most.

  • Temporary Coverage
    Coverage that’s in place for a certain time period, such as 20 years. The death benefit is paid to the beneficiary(ies) if you pass while the coverage is in place.
  • Permanent Coverage
    A type of life insurance that stays in place for a person’s entire life (subject to policy terms). Guaranteed death benefit.1
  • Accumulates Cash Value
    A type of life insurance that provides flexibility in determining how long you want your coverage to last.
  • Streamlined Purchase Process
    A component of some life insurance policies that accumulates from a portion of your premium and can be borrowed against like a loan to pay for things like education or retirement.2
  • Other Key Features
    Life insurance coverage that requires no medical exam, only a few health questions to help determine eligibility.

Key

  Included in Policy

  Not Included in Policy

 

Which Type of Life Insurance Is Right For Me?

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.

Parents with their kids in the living room

Determine How Much Life Insurance Coverage You Need

Get a quick quote and estimate how much coverage you need with our easy Life Insurance Calculator.

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This is a brief description of coverage and is subject to policy and/or rider terms and conditions which may vary by state. Fixed and guaranteed premiums are statements about the policy as determined at issue, and any changes made to a policy may affect the premium and are subject to our underwriting rules. The words lifetime, lifelong and permanent are subject to policy terms and conditions. DreamSecure Whole Life Insurance policies mature at age 121. Please check with an American Family agent for details on coverages and restrictions.

*1According to company underwriting guidelines.

†2 Children ages 0-17 won't need a medical exam — they'll simply answer some health questions to determine eligibility.

3Approval is subject to health history and underwriting guidelines.

4The GPO may be exercised only at specified dates and life events and is subject to benefit amount limitations.

Policy Forms: ICC18-36 (10), ICC18-36 (15), ICC18-36 (20), ICC18-36 (30), L-36 (10)(ND), L-36 (15)(ND), L-36 (20)(ND), L-36 (30)(ND), L-36 (10)(SD), L-36 (15)(SD), L-36 (20)(SD), L-36 (30)(SD), ICC18-33 (10), ICC18-33 (15), ICC18-34 (20), ICC18-35 (30), L-33 (10)(ND), L-33 (15)(ND), L-34 (20)(ND), L-35 (30)(ND), L-33 (10)(SD), L-33 (15)(SD), L-34 (20)(SD), L-35 (30)(SD), ICC17-225 WL, L-225 (ND) WL, L-225 WL, , ICC17-227 WL, L-227 (ND) WL, L-227 WL, ICC17-223 WL, L-223 (ND) WL, L-223 WL, ICC17-224 WL, L-224 (ND) WL, L-224 WL, ICC17-228 WL, L-228 (ND) WL, L-228 WL