General questions
We also have more resources for you to Go to manage your policy online.
It depends on the kind of life insurance you have. A term life insurance policy doesn't accrue cash value. In other words, it doesn't gain interest or dividends. So you can't withdraw or borrow against it.
Permanent life insurance policies, on the other hand, can accrue cash value over time. When the policy has enough cash value, you can take a withdrawal or loan.
It's important to know that doing this can negatively affect your policy and reduce the death benefit that's paid to your beneficiary.
Learn more about Go to article how to borrow against your life insurance.
Most of our term life insurance policies let you continue your coverage beyond the initial term period. Depending on your policy, you'll see a premium increase, a decrease in coverage amount or both.
To find out what happens after your term life insurance ends, review your policy in My Documents. We also have more information about Learn more about term life insurance ending.
Yes, you can. This is known as collateral assignment. If you want to add a collateral assignment, then download, complete and return this collateral assignment form (PDF, opens in a new window). If you can't repay the loan, the lender, who's considered the primary beneficiary, can cash in your insurance policy.
You'll find your life policy in the insurance folder in My Documents.
Our Survivor Relations team is available to guide you through the next steps after a loss. For additional support, use our survivor checklist Opens in new window.
You can also learn how to file a life or annuity claim.
Riders are extra clauses you can add to your policy to customize your coverage. Here are 2 types you can add:
Term Life Event Option (TLEO) and Life Event Option (LEO) riders: These let you increase your life insurance coverage after major life events.
This could be getting married, having or adopting a child, or buying a home. TLEO and LEO riders don’t require medical underwriting. If you’re not sure which one applies to you, contact us.
Child rider or child term rider: This provides coverage for eligible children and usually includes a death benefit.
Later, you can convert to a permanent policy for your child without needing to prove they're insurable, up to a certain amount.
To manage your riders, call us at 800-531-LIFE (5433). You can also learn more about life insurance riders.
Payments
Yes. You can pay your bill at Pay Bills.
You can pay off your life insurance loan balance at Pay Bills.
Yes. From your Account Summary, select “Manage your Automatic Payment Plan.”
Or you can download, complete and return this Automatic Payment Plan form (PDF, opens in a new window).
Yes. Credit card payments are accepted but not as a regular payment option. To discuss your payment options, contact us.
Changing your policy
For more ways to change your policy, go to our life insurance, health insurance and annuity forms.
Yes. To change the owner of your life insurance policy, contact us. You can also download, complete and return this owner transfer form (PDF, opens in a new window).
It depends. If your term policy allows a conversion option and isn't past what's called the conversion option period, yes, you can change it. Your conversion option period is found on your policy in My Documents.
Learn more about the conversion option on our Term policy conversion page.
It depends. You may be able to lower your coverage if you don’t already have the minimum coverage amount available for your policy term.
When it comes to increasing your coverage amount, it depends on the type of policy you have.
You may be able to increase your coverage with medical underwriting on a universal policy. But a new policy is required to increase coverage on your term or whole life insurance.
It’s important to review your coverage once a year. Calculate your life insurance needs with our Go to coverage review tool. You can also review your options by contacting us.
You can update your beneficiary online. Or download, complete and return this beneficiary change form (PDF, opens in a new window).