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Navigating through all the different types of life insurance can seem daunting. At Aflac, we want to help simplify your search and guide you toward finding the life insurance policy that best fits your lifestyle. Let’s dive deeper into how life insurance works, the types of policies available, and how you can choose life insurance that’s best for you and your loved ones.
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Life insurance is a policy that provides a death benefit payout to beneficiaries if you pass away while it’s active. While there are various life insurance options, these plans tend to function similarly. Whether you have life insurance that lasts your entire life or just 20 years, you must pay regular premiums in order to receive your benefits.
Depending on the type of life insurance policy, there may be other features available. For instance, permanent life insurance policies offer a cash value component that grows over time and that can be used to help cover medical expenses or everyday costs of living.1
A life insurance policy can help protect your loved ones financially in the event you unexpectedly pass away. If you die while the plan is still active, your beneficiaries may file a claim and collect a death benefit payout. The death benefit can help alleviate financial stress and allow loved ones to grieve properly. It’s usually flexible, meaning the funds can be used for funeral costs, debt everyday bills, college, and virtually any other expenses.
Each life insurance plan is distinct, so it’s crucial to understand the different life insurance policies so you can find the best option for you and your family. Here are some common types of life insurance:
Whole life insurance is a permanent coverage type that lasts your entire life. The benefit will be paid to your beneficiary whenever you pass. This may be a more expensive option upfront, but the benefits can be more secure in the long run.
Aflac offers whole life insurance for individuals that can provide guaranteed support for your loved ones on any timeline. This type of policy may be a wise move if you are hoping to factor in long-term financial planning.
Term life insurance is a temporary type of policy that provides coverage for a set term or specific amount of time. At Aflac, we offer multiple term lengths in 10, 20, and 30-year increments. This plan may be a more competitive route. However, the policyholder must pass during the designated time frame of the plan for the beneficiary to receive benefits.
Final expense insurance is a type of permanent life policy that offers a smaller death benefit payout. Beneficiaries can use this payout to cover a funeral, burial costs, medical bills, and other end-of-life expenses after you pass away. Aflac offers final expense insurance with fixed and reasonable premiums.
As a business owner, it’s important to make sure your employees feel safe and seen. Group life insurance is a great type of policy if you are looking to provide benefits for your employees or members of an organization. Aflac gives you the opportunity to offer your hard workers term or whole group life insurance options.
Don’t wait until it’s too late. Help cover yourself and your family with coverage from Aflac.
Get StartedThe right type of life insurance policy for you depends on important factors such as how much you are looking to spend on premium payments, how much coverage would you like to secure for your family, and the access to cash benefits. For instance, if you're starting a family and only need coverage until your children become adults, you may consider a term life policy.
Take these steps to get the right type of life insurance policy for your needs:
At Aflac, we offer various life insurance policies that are flexible to help meet your needs, including whole and term life insurance policies for individuals. Our individual plans can be purchased directly through Aflac and are portable, so you can take them with you if you move or change jobs. Start chatting with an agent and get a quote today to find out which type of coverage if best for your loved ones.
Get Started
Looking into getting a term life insurance policy? Find out what term life insurance is and its features, rates, and benefits.
Looking into getting a whole life insurance plan? Find out how whole life insurance works and the benefits, costs, pros, and cons.
Looking into getting a term life insurance policy? Find out what term life insurance is and its features, rates, and benefits.
Looking into getting a whole life insurance plan? Find out how whole life insurance works and the benefits, costs, pros, and cons.
1 Investopedia - Life Insurance: What It Is, How It Works, and How To Buy a Policy. Updated September 17, 2024. Accessed February 20, 2025. https://www.investopedia.com/terms/l/lifeinsurance.asp.
Content within this article is provided for general informational purposes and is not provided as tax, legal, health, or financial advice for any person or for any specific situation. Employers, employees, and other individuals should contact their own advisers about their situations. For complete details, including availability and costs of Aflac insurance, please contact your local Aflac agent.
Aflac coverage is underwritten by American Family Life Assurance Company of Columbus. In New York, Aflac coverage is underwritten by American Family Life Assurance Company of New York.
Aflac life plans – A68000 series: Term Life Policies: In Arkansas, Idaho, Oklahoma, Oregon, Texas, Pennsylvania & Virginia, Policies: ICC1368200, ICC1368300, ICC1368400. In Delaware, Policies A68200, A68300 & A68400. In New York, Policies NY68200, NY68300 and NY68400. Whole Life Policies: In Arkansas, Idaho, Oklahoma, Oregon, Texas, Pennsylvania & Virginia, Policies: ICC1368100. In Delaware, Policy A68100. In New York, Policy NYR68100. B60000 series: In Arkansas, Idaho, Oklahoma & Virginia, Policies: ICC18B60C10, ICC18B60100, ICC18B60200, ICC18B60300, & ICC18B60400. Not available in Delaware. Q60000 series/Whole: In Arkansas & Delaware, Policy Q60100M. In Idaho, Policy Q60100MID. In Oklahoma, Policy Q60100MOK. Not available in Virginia. Q60000 series/Term: In Delaware, Policies Q60200CM. In Arkansas, Idaho, Oklahoma, Policies ICC18Q60200C, ICC18Q60300C, ICC18Q60400C. Not available in Virginia.
Receipt of accelerated death benefits may affect eligibility for public assistance programs. Benefits may also be taxable, and are not expected to receive the same favorable tax treatment as other types of accelerated death benefits that may be available.
Aflac Final Expense insurance coverage is underwritten by Tier One Insurance Company, a subsidiary of Aflac Incorporated and is administered by Aetna Life Insurance Company. Tier One Insurance Company is part of the Aflac family of insurers. In California, Tier One Insurance Company does business as Tier One Life Insurance Company (NAIC 92908).
In AR, DE, ID, OK and VA: Policies ICC21-AFLLBL21 and ICC21-AFLRPL21; and Riders ICC21-AFLABR22, ICC21-AFLADB22, and ICC21-AFLCDR22. Aflac Final Expense policies are not available in New York.
Aflac does not offer Universal or Variable Universal life insurance.
Coverage may not be available in all states, including but not limited to DE, ID, NJ, NM, NY, VA or VT. Benefits/premium rates may vary based on state and plan levels. Optional riders may be available at an additional cost. Policies and riders may also contain a waiting period. Refer to the exact policy and rider forms for benefit details, definitions, limitations, and exclusions.
Aflac WWHQ | Tier One | 1932 Wynnton Road | Columbus, GA 31999
Aflac New York | 22 Corporate Woods Boulevard, Suite 2 | Albany, NY 12211
Continental American Insurance Company | Columbia, SC
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