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What type is right for me?

There are many factors you’ll want to consider when choosing the type of life insurance that’s best for your needs. What do you want in terms of death benefits, tax advantages and flexibility?

The three main types of life insurance

A quick comparison

Use this chart to get an overview of the differences between these types of life insurance and see which one might best meet your needs. An advisor can walk you through your options and discuss the right type for you.

  Term Universal Variable Universal
Coverage Temporary Permanent Permanent
Tax-Deferred No Yes Yes
Premium Fixed Flexible Flexible
Dependent on Investment Performance No No Yes
Death Benefit Yes, within term only Yes Yes
Cash Value No Yes, flexible Yes, flexible


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How much life insurance do you need?

Use this calculator