Life insurance

You can’t predict the future – but you can help protect your family in the event of an untimely death. Life insurance* provides the finances your family needs, for things like everyday bills, child care, income for your spouse, and funeral expenses, to name a few. Life insurance can also help ensure a business continues to run if an owner dies.

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Life insurance basics

An important part of a financial plan

Learn more about our policy options:

Term life policies

These policies are ideal for individuals or families who need life insurance coverage for a specified number of years. Term life insurance premiums are economical, stable and guaranteed. And if your needs change, you can change to universal life, as long as you do so within the time frame outlined in your policy. 

Whole life policies

These policies are designed to last your lifetime. They have a fixed premium, meaning you pay the same amount each year for your coverage. Whole life policies also have the potential to accumulate cash value over time, creating an amount that you may be able to borrow against. Whole life insurance might be a good choice if you want premiums that stay the same for the life of the policy, cash value accumulation that you can use while you're still alive and protection that you can't outlive as long as your required premium payments are made.

Universal life policies

Universal life insurance is similar to whole life, in that it is designed to last your lifetime. It offers more flexibility, however – allowing you to skip a payment or change your death benefit. Plus, the interest you earn accumulates on a tax-deferred basis. Universal life policies give you necessary death benefit protection while offering flexibility to help plan for current and future needs. 

Typical costs of life insurance

Many Americans overestimate the cost of life insurance. Below are approximate rates for term and universal plans. Prices are based on $100,000 coverage for a male, standard, non-tobacco user. 

Age 20-year term Universal life

Annual premium Annual premium
25 $152 $553
35 $170 $773
45 $291 $1,086
55 $656 $1,758

Figures based on Protective Life quotes--11/27/20. Prices rounded up for illustration purposes.


Life insurance calculator

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Get a quote

An Everence representative can provide you with a no-obligation quote on a life insurance policy that meets your needs, budget and financial goals.  

Find a representative

Your representative will ask you a few simple questions, such as your age, gender and desired coverage amount. From there, you’ll be able to see several options so you can decide which policy suits you best.

Find an Everence representative

You can contact one of our many local offices located across the country or you can contact (800) 348-7468 or

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What else can life insurance do?

Life insurance can help with several aspects of planning for the future.

Leave a legacy

You also can use life insurance as a practical and affordable way to leave a legacy to your family or charity. It’s easier than you think, and you may be pleasantly surprised at how even modest annual contributions can be multiplied into a substantial gift. Your Everence representative can help you find the right life insurance policy to fit your needs, dreams and budget. 

Protect your business

Life insurance can be used to protect your business. Help keep your business running if an owner dies by using life insurance – or a key person policy – to fund a buy-sell agreement. 

Last survivor protection

A last survivor policy is for people who have sizeable estates or businesses and want to protect their survivors from having to pay large amounts of money to satisfy federal estate taxes, state taxes, legal expenses, and administrative expenses


*Life insurance products are sold through a third party brokerage arrangement