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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.

Life Products
  • 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
  • Flexible Coverage
    A type of life insurance that provides flexibility in determining how long you want your coverage to last.
  • Accumulates Cash Value
    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
  • Streamlined Purchase Process
    Life insurance coverage that requires no medical exam, only a few health questions to help determine eligibility.
  • Other Key Features
  • Eligibility*
  • Term Life Insurance
    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
    Flexible Coverage
    A type of life insurance that provides flexibility in determining how long you want your coverage to last.
    Accumulates Cash Value
    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
    Streamlined Purchase Process
    Life insurance coverage that requires no medical exam, only a few health questions to help determine eligibility.

    It depends;
    Some customers will not need a medical exam.*

    Other Key Features
    • Temporary protection that costs less than permanent coverage for larger needs like mortgages or to replace income.
    • 10-, 15-, 20- and 30-year level-term policies.
    • A good policy for most ages, most popular with families.
    Eligibility*
    • 10-, & 15-year level-term policies: Available for customers aged 18 -70.
    • 20-year level-term policies: Available for customers aged 18 -60.
    • 30-year level-term policies: Available for customers aged 18-50.
  • Simplified Term Life Insurance
    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
    Flexible Coverage
    A type of life insurance that provides flexibility in determining how long you want your coverage to last.
    Accumulates Cash Value
    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
    Streamlined Purchase Process
    Life insurance coverage that requires no medical exam, only a few health questions to help determine eligibility.
    Other Key Features
    • Quick and easy application, fast approval.3
    • Temporary life insurance that costs less than permanent coverage.
    • 10-, 15-, 20- and 30-year level-term policies.
    • A good policy for most stages of life, including younger people with dependents and financial obligations, like rent payments or school loans.
    Eligibility*
    • 10-,15-, & 20-year level-term policies: Available for customers aged 18 -60.
    • 30-year level-term policies: Available for customers aged 18 -60.
  • DreamSecure EasyProtect Term Insurance
    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
    Flexible Coverage
    A type of life insurance that provides flexibility in determining how long you want your coverage to last.
    Accumulates Cash Value
    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
    Streamlined Purchase Process
    Life insurance coverage that requires no medical exam, only a few health questions to help determine eligibility.
    Other Key Features
    • Quick and easy application, fast approval.3
    • Temporary life insurance that costs less than permanent coverage.
    • 10-, 15-, and 20- year level-term policies.
    • A good policy for most stages of life, including younger people with dependents and financial obligations, like rent payments or school loans.
    Eligibility*
    • Available for American Family customers aged 18 to 60 who have just added an eligible personal lines or farm/ranch policy, or a current personal lines or farm/ranch customer within 30 days before their birthday each year.5
  • Whole Life Insurance
    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
    Flexible Coverage
    A type of life insurance that provides flexibility in determining how long you want your coverage to last.
    Accumulates Cash Value
    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
    Streamlined Purchase Process
    Life insurance coverage that requires no medical exam, only a few health questions to help determine eligibility.

    It depends;
    Many customers will not need a medical exam.1,2*†

    Other Key Features
    • Premiums do not increase during the life of the policy regardless of age or health changes.
    • Attractive option for most ages, especially those in mid-to-later life stages.
    Eligibility*
    • Available for customers aged 0 to 80.*
  • Children's Whole Life Insurance
    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
    Flexible Coverage
    A type of life insurance that provides flexibility in determining how long you want your coverage to last.
    Accumulates Cash Value
    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
    Streamlined Purchase Process
    Life insurance coverage that requires no medical exam, only a few health questions to help determine eligibility.
    Other Key Features
    • Premiums do not increase during the life of the policy regardless of age or health changes.
    • Ability to purchase additional coverage at specific ages or life events, with no medical exam or health questions.4
    Eligibility*
    • Available for customers aged 0 to 17.
  • Senior Whole Life Insurance
    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
    Flexible Coverage
    A type of life insurance that provides flexibility in determining how long you want your coverage to last.
    Accumulates Cash Value
    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
    Streamlined Purchase Process
    Life insurance coverage that requires no medical exam, only a few health questions to help determine eligibility.
    Other Key Features
    • Premiums do not increase during the life of the policy regardless of age or health changes.
    • Available in $10,000 and $15,000 coverage amounts.
    Eligibility*
    • Available for customers aged 50 to 80.
  • DreamSecure Flexible Life Insurance
    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
    Flexible Coverage
    A type of life insurance that provides flexibility in determining how long you want your coverage to last.
    Accumulates Cash Value
    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
    Streamlined Purchase Process
    Life insurance coverage that requires no medical exam, only a few health questions to help determine eligibility.

    It depends;
    Some customers will not need a medical exam.*†

    Other Key Features
    • Long-term, flexible coverage that can change as your life evolves.
    • Adjustable premiums and coverage amounts to meet changing needs.
    • Popular coverage to cover various life stages with one policy.
    Eligibility*
    • Available for customers aged 0 to 80 years.

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.

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.

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.

Find Out Now

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 and Flexible 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.

5In order to apply for a DreamSecure EasyProtect Term Life Insurance policy, a customer must have purchased an eligible underlying policy underwritten by American Family Mutual Insurance Company, S.I., American Family Insurance Company, American Standard Insurance Company of Wisconsin, or American Standard Insurance Company of Ohio within the last 30 days. Existing customers with an eligible policy must apply within 30 days prior to their birthday. Contact an agent for information about eligible policies.

Policy Forms: 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), 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), ICC22 L152 MS 06 22, L152 ND 06 22, L152 SD 06 22, 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, ICC21 L141 MS 01 22, L141 ND 02 22, L141 SD 02 22