Insurance Products

A type of life insurance that provides a death benefit 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 value 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

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 value 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

A type of life insurance that covers the insured for a designated period of time. The policy pays a death benefit if the insured dies during the term. In most cases, term life plans offer no cash value. Term life insurance is usually the lowest cost insurance. Info about Federal Life's Term Life products

Often bought for future retirement income, an annuity is a contract in which you pay a single premium 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 premium or flexible premium
• deferred or immediate and
• fixed or variable

Info about Federal Life's Annuity Products