Everyday Life offers nine different life insurance policies, offered by a variety of life insurance companies. For simplicity’s sake, we’ll divide the policies by category: term, whole, and accidental death.
A term life insurance contract pays a coverage amount to a policyholder’s friends and family (called “beneficiaries”) in the event of the policyholder’s death. If the policyholder dies after the contract’s term ends, the policyholder’s beneficiaries do not receive the coverage amount.
Everyday Life’s partners offer four term life insurance policies:
- RAPIDecision® Life from FidelityLife
- Age availability: 18 to 65
- Coverage amounts: $50,000 up to $2 million
- Term lengths: 10-, 15-, 20-, and 30-year terms
- OPTerm from Legal & General
- Age availability: 20 to 75
- Coverage amounts: Starting at $100,000
- Term lengths: 10-, 15-, 20-, 25-, 30-, 35-, and 40-year terms
- Term Life from SBLI
- Age availability: 18 to 55
- Coverage amounts: $50,000 up to $1 million
- Term lengths: 10-, 15-, and 20- year terms
- TruStage® Term Life Insurance from TruStage
- Age availability: 18 to 69
- Coverage amounts: $5,000 up to $300,000
- Term lengths: Coverage until age 80
Unlike term life insurance, whole life insurance lasts for a policyholder’s entire life. As long as policyholders make their premium payments on time, their beneficiaries are likely to receive the coverage amount when the policyholder dies.
Some whole life insurance policies also carry a cash value component, in which portions of a policyholder’s premium payments accrue in a savings account. This money can usually be used any way the policyholder likes, at any time.
Everyday Life’s partners offer four whole life insurance policies:
- RAPIDecision® Simplified Issue Final Expense Whole Life from FidelityLife
- Age availability: 50 to 85
- Coverage amounts: $5,000 up to $35,000
- RAPIDecision® Guaranteed Issue Graded Benefit Whole Life from Fidelity Life
- Age availability: 50 to 85
- Coverage amounts: $5,000 up to $25,000
- TruStage® Advantage Whole Life Insurance from TruStage
- Age availability: 50 to 85
- Coverage amounts: $5,000 up to $100,000
- TruStage® Guaranteed Acceptance Whole Life Insurance from TruStage
- Age availability: 45 to 80
- Coverage amounts: $2,000 up to $20,000
With accidental death life insurance, a policyholder’s beneficiaries receive a coverage amount if the policyholder dies, is paralyzed, disabled, or otherwise severely injured by a scenario mentioned in the policyholder’s contract.
Accidental death life insurance is typically the least expensive form of life insurance.
Everyday Life’s partners offer one whole life insurance policy:
- Accidental Death Insurance by Assurity
- Age availability: 18 to 60
- Coverage amounts: $50,000 up to $350,000
- Term lengths: Available until age 80