Federal Life Insurance Company (Mutual)

Insurance Products

• Whole Life [+/-]
  
  
  A type of life insurance that provides a death benefitThe amount of money that may be paid to a beneficiary in the event of the insured's death, as described in the insurance contract. for life or until age 100. Premiums and the death benefit remain constant while the policy is in force. Whole life policies earn interest that accumulates on a tax-deferred basis. The policyowner receives the cash surrender valueThe amount of money an insured receives if they cancel their coverage and surrender their policy. The amount is equal to their accumulation account value less any surrender charges, policy loans and loan interest (if any). of these funds if the policy is surrendered/canceled or can borrow the cash surrender value as a loan. Info about Federal Life's Whole Life products
  
  
  
  
• Universal Life [+/-]
  A type of life insurance which allows the policyowner to change the death benefit from time to time and vary the amount or timing of premium payments to meet their changing needs. Universal Life policies earn interest that accumulates on a tax-deferred basis. The policyowner receives the cash surrender valueThe amount of money an insured receives if they cancel their coverage and surrender their policy. The amount is equal to their accumulation account value less any surrender charges, policy loans and loan interest (if any). of these funds if the policy is surrendered/canceled and can borrow the cash surrender value as a loan. Info about Federal Life's Universal Life product
  
  
  
  
• Term Life [+/-]
  A type of life insurance that covers the insured for a designated period of time. The policy pays a death benefitThe amount of money that may be paid to a beneficiary in the event of the insured's death, as described in the insurance contract. if the insured dies during the term. In most cases, term life plans offer no cash valueThe amount of money an insured receives if they cancel their coverage and surrender their policy.. Term life insurance is usually the lowest cost insurance. Info about Federal Life's Term Life products

Disability income insurance provides a specific benefit to replace part of lost income when an insured person becomes unable to work because of an illness or injury. Info about Federal Life's Disability Product

Often bought for future retirement income, an annuity is a contract in which you pay a single premiumThe payment, or payments, that a policy holder makes to an insurer in exchange for the insurer's obligation to pay benefits. or periodic premiums to an insurance company. In return, the insurance company, usually after an accumulation period, makes a series of income payments to you at regular intervals. There are different types of annuities designed to meet different needs and risk tolerance. Annuities can be:
• single premiumYou pay only one premium payment to the insurance company. or flexible premiumDepending on the plan, you pay multiple premiums to the insurance company either whenever you want or according to a set schedule.
• deferredIncome payments from the insurance company to you generally don't start until many years after the policy is issued. or immediateIncome payments from the insurance company to you begin no later than one year after you pay the premium. You usually pay for an immediate annuity with one payment., and
• fixedPremiums paid into a fixed annuity (less any applicable charges) earn interest at rates set by the insurance company. At a minimum, your annuity will earn interest at the minimum rate guaranteed by the company. or variableYou select from the investment options offered how your premiums (less any applicable charges) are invested. The value of your annuity will depend on the performance of the investment options you choose.

Info about Federal Life's Annuity Products