Permanent life insurance provides a death benefit when you die, and it also accumulates a tax-deferred cash surrender value. The kind of coverage you decide on depends on your unique circumstances. For many, a combination of term and permanent insurance could be a good solution. It pays a benefit only if you die during the term. It's usually the best choice when you need life insurance for a limited number of years or if you are concerned about being able to afford the premium payments.
Term insurance offers the most coverage at the lowest cost.
SBLI offers premium term life insurance with excellent rates that are fully guaranteed for up to 30 years. As another option, we are also offering even lower rates on term life insurance with guarantees that extend for a portion of the term. Yearly Renewable Term , or YRT, provides protection for a year at a time and is automatically renewable each year without continued proof of good health. The premiums you pay usually increase each year as you age, for as long as you keep the policy. YRT may offer the lowest initial cost.