Everything you need to know about insurance basics, like coverage types, limits, cost and more.
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.
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.
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.
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.
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, ICC21 L141 MS 01 22, L141 ND 02 22, L141 SD 02 22