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Types of Life Insurance Coverage & Policy Options

Find the policy for your life.

When deciding between term and permanent life insurance, which includes whole, universal and variable universal coverage, consider the option that best fits your needs and budget.

  • Term Life

  • Term Life

  • Low cost
  • Sample Rate
  • $15.09

    per month
    $250,000 of Protective® Classic Choice Term for 20 years. Rate shown is not available in New York.1
  • Quote now

  • Term Life 101
  • Coverage Length
  • 10-40 Years
  • Builds Cash Value3
  • No

Term life insurance

If you're looking for 10 to 40 years of affordable coverage, term life insurance may be right for you. With customizable policies, you'll find protection that fits where you are in life.

Term life insurance offers:

  • Coverage for a specific period of time, like until you reach retirement or your children are grown
  • Flexibility to switch to longer term, permanent protection in the future based on policy provisions

Permanent life insurance

If you're looking for dependable protection that lasts a lifetime, you should consider the three types of permanent life insurance: whole, universal and variable universal.

Whole life insurance offers:

  • The potential to earn dividends, which can be received in cash, accumulated at interest, used to buy additional life insurance or to help reduce premium payments or pay outstanding loans
  • Cash value that increases regardless of market conditions
  • Fixed premium payments over time

Universal life insurance offers:

  • Flexibility to adjust your plan over time4
  • Cash value that builds with the security of downside protection
  • The ability to balance cash value growth with your preferred risk tolerance

Variable universal life insurance offers:

  • The ability to build cash value through market participation
  • A wide range of choices in which to invest the policy's cash value
  • No limits on upside investment gains or downside losses

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Related resources

1Protective® Classic Choice Term (ICC16-TL21 / TL-21) a term life insurance policy issued by Protective Life Insurance Company, Nashville, TN, with administrative offices at 2801 Highway 280 South, Birmingham, AL 35223. In New York, Protective® Classic Choice Term (TL-21-NY 4-16) a term life insurance policy issued by Protective Life and Annuity Insurance Company, Birmingham, AL. Policy form numbers, product features and availability may vary by state. All payments and all guarantees are subject to the claims paying ability of Protective Life Insurance Company. The monthly cost shown is based on a male, age 37 Select Preferred underwriting class for a policy not issued in NY; rates for other underwriting classifications would be higher. Further underwriting restrictions may apply. Other face amounts and guaranteed premium terms are available but will have different rates than those shown here.

2Variable universal life products are long-term investments designed to provide life insurance protection and flexibility in connection with premium payments and death benefits. You should carefully consider the investment objectives, risks, charges and expenses of the investment alternatives before purchasing a policy. These policies have limitations and are sold by prospectus only. The prospectus contains details on the investment alternatives, policy features, the underlying portfolios, fees, charges, expenses and other pertinent information. To obtain a replacement prospectus or a copy of the underlying portfolio prospectuses, please contact the issuing insurance company. Please read the prospectus carefully before purchasing a contract.

3Loans, if not repaid, and withdrawals reduce the contract's death benefit and cash value. Partial withdrawals and surrenders from life policies are generally taxed as ordinary income to the extent the withdrawal exceeds your investment in the contract, which is also called the "basis". In some situations, partial withdrawals during the first 15 policy years may result in taxable income prior to recovery of the investment in the contract. Loans are generally not taxable if taken from a life insurance policy that is not a modified endowment contract. However, when cash values are used to repay a loan, the transaction is treated like a withdrawal and taxed accordingly. If a policy is a modified endowment contract, loans are treated as a taxable distribution to the extent of policy gain. Loans, withdrawals and surrenders are treated first as distributions of the policy gain subject to ordinary income taxation, and may be subject to an additional 10% federal tax penalty if made prior to age 59½.

4Increases in benefits are subject to underwriting approval. Changes to benefits can have income tax consequences. Consult a tax advisor for additional information.

Policy issuance is subject to availability and qualifications. These policies have exclusions, limitations, and terms that may affect coverage, renewal, cancellation, termination, or other contractual rights and benefits. Rates quoted are subject to change and are set at the company's sole discretion. Terms and limitations apply. See individual product riders for terms, conditions and restrictions. For costs and complete details of coverage, call an Allstate agency.

This life insurance information is provided for general consumer educational purposes and is not intended to provide legal, tax or investment advice. Allstate life insurance issued by Allstate Life Ins. Co. & Allstate Assurance Co., 3075 Sanders Rd, Northbrook IL 60062; American Heritage Life Ins. Co., 1776 American Heritage Life Dr., Jacksonville FL 32224. In New York, life insurance issued through Allstate Life Insurance Company of New York, Hauppauge NY. Life insurance also offered and issued by third party companies not affiliated with Allstate. Each company is solely responsible for the financial obligations accruing under the products it issues. Product guarantees are backed by the financial strength and claims-paying ability of the issuing company.

Securities offered by Personal Financial Representatives through Allstate Financial Services, LLC (LSA Securities in LA and PA). Registered Broker-Dealer. Member FINRA, SIPC. Main Office: 2920 South 84th Street, Lincoln, NE 68506. 877-525-5727. Check the background of this firm on FINRA's BrokerCheck website (

ECC Monitor: OK