Life Insurance

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How Much Term Life
Insurance Do I Need? From United of Omaha Life Insurance Company or Companion Life Insurance Company

When deciding on a term life insurance policy, determining the amount of the death benefits available can be one of the biggest concerns a customer faces. Since term life insurance expires when the period is completed - unlike a whole life policy - choosing the right benefit amount is a big decision. If you pick too high of a benefit, you may end up paying higher premiums over the years of the policy with no return at the end. If you choose too little, your family may not be as protected as you would like in the event of a tragedy.

We want to help you find the right amount of term life insurance for your situation and budget. We will help you figure out your life insurance needs. Once you've explored them, you can speak with one of our licensed life insurance agents¹.

What Will Term Insurance Cover?

First, you need to consider the expenses that will be faced upon death. Your family may need to pay for funeral and burial services, medical costs, outstanding debts and any legal costs related to the death. From there, they will likely need an infusion of funds to continue their standard of living and replace the lost income. The costs of these expenses will differ from situation to situation.

Replacing the income of the deceased, at least for a short time, is an important function of life insurance. In addition to paying those final expenses, this replacement income can help sustain the family through a difficult period. If there isn't enough benefit to replace the lost income, the family can face further difficulty like paying mortgages and other routine bills that previously depended on the income of the deceased.

Calculating Life Insurance Needs

We have a life insurance calculator that can help you determine the appropriate benefit amount. Using our calculator, you can input your age and income as well as projected expenses and needs. In addition, the calculator will help take into account any children that will be taken care of. Then you will be shown a detailed view of your needs in the future and an estimated amount of insurance to cover those needs.

You can use this projection as a baseline to choose the benefit features of your term life insurance policy, or you can take it into one of our local agents to further discuss your individual details. Your agent will work with you and your finances to fine-tune the projection and help decide upon a benefit amount that fits in your budget today and protects your family in the future.

More Information:

Return of Premium Insurance
Death Benefit Size for Term Life Insurance
The Three Types of Term Life
Term vs. Whole Life

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Important Disclosure Information

Product base plans, provisions, features and riders may not be available in all states and may vary by state. Policy forms:

Whole Life Guaranteed: Policy Form ICC11L060P or state equivalent. In FL, 7634L-0505. In NY, 826Y-0505.

Whole Life Express: Policy Form 6879L-0202 or state equivalent. In FL, 6908L-0202. In NC, 6914L-0202. In NY, 875Y-0207. In TX, 6920L-0202. In WA, 6924L-0202.

Children’s Whole Life: Policy Form A007LNA05P or state equivalent. In FL, A037LFL05P. In NC, A098LNC05P. In NY, 0835Y-0805. In OK, A133LOK05P. In OR, A140LOR05P. In TX, A151LTX05P.

TERM LIFE COMPLETE: FULL GUARANTEE

15-year level term: C087LNA08P, or state equivalent. In FL, C130LFL08P. In LA, C170LLA08P. In NC, C230LNC08P. In OK, C300LOK08P. In OR, C310LOR08P. In PA, C320LPA08P. In TX, C360LTX08P, In WA, C400LWA08P. In NY, 913Y-0309.

20 year level term: C091LNA08P, or state equivalent. In FL, C134LFL08P. In LA, C174LLA08P. In NC, C234LNC08P. In OK, C304LOK08P. In OR, C314LOR08P. In PA, C324LPA08P. In TX, C364LTX08P, In WA, C404LWA08P. In NY, 914Y-0309.

20 year level term with return of premium: C092LNA08P, or state equivalent. In FL, C135LFL08P. In LA, C175LLA08P. In NC, C235LNC08P. In OK, C305LOK08P. In TX, C365LTX08P.

30 year level term: C095LNA08P, or state equivalent. In FL, C138LFL08P. In LA, C178LLA08P. In NC, C238LNC08P. In NY, 915Y-0309. In OK, C308LOK08P. In OR, C318LOR08P. In PA, C328LPA08P. In TX, C368LTX08P, In WA, C408LWA08P.

30 year level term with return of premium: C096LNA08P, or state equivalent. In FL, C139LFL08P. In LA, C179LLA08P. In NC, C239LNC08P. In OK, C309LOK08P. In TX, C369LTX08P.

TERM LIFE COMPLETE: FIVE-YEAR GUARANTEE

20-year level term: C089LNA08P, or state equivalent. In FL, C132LFL08P. In LA, C172LLA08P. In NC, C232LNC08P. In OK C302LOK08P. In OR, C312LOR08P. In PA, C322LPA08P. In TX, C362LTX08P.

30-year level term: C093LNA08P, or state equivalent. In FL, C136LFL08P. In LA, C176LLA08P. In NC, C236LNC08P. In OK, C306LOK08P. In OR, C316LOR08P. In PA, C326LPA08P. In TX, C366LTX08P.

TERM LIFE EXPRESS : FULL GUARANTEE

15-year level term: B630LNA07P, or state equivalent. In FL, B650LFL07P. In LA, B690LLA07P. In NC, B762LNC07P. In OK, B832LOK07P. In OR, B842LOR07P. In PA, B852LPA07P. In TX, B892LTX07P, In WA, B932LWA07P.

20 year level term: B628LNA07P, or state equivalent. In FL, B648LFL07P. In LA, B688LLA07P. In NC, B760LNC07P. In OK, B830LOK07P. In OR, B840LOR07P. In PA, B850LPA07P. In TX, B890LTX07P, In WA, B930LWA07P. 20 year level term with return of premium: B629LNA07P, or state equivalent. In FL, B649LFL07P. In LA, B689LLA07P. In NC, B761LNC07P. In OK, B831LOK07P. In OR, B841LOR07P. In TX, B891LTX07P.

30-year level term: B634LNA07P, or state equivalent. In FL, B654LFL07P. In LA, B694LLA07P. In NC, B766LNC07P. In OK, B836LOK07P. In OR, B846LOR07P. In PA, B856LPA07P. In TX, B896LTX07P, In WA, B936LWA07P.

30-year level term with return of premium: B635LNA07P, or state equivalent. In FL, B655LFL07P. In LA, B695LLA07P. In NC, B767NC07P. In OK, B837LOK07P. In OR, B847LOR07P. In TX, B897LTX07P.

TERM LIFE EXPRESS : FIVE-YEAR GUARANTEE

20-year level term: B626LNA07P, or state equivalent. In FL, B646LFL07P. In LA, B686LLA07P. In NC, B758LNC07P. In OK, B828LOK07P. In OR, B838LOR07P. In PA, B848LPA07P. In TX, B888LTX07P.

30-year level term: B632LNA07P, or state equivalent. In FL, B652LFL07P. In LA, B692LLA07P. In NC, B764LNC07P. In OK, B834LOK07P. In OR, B844LOR07P. In PA, B854LPA07P. In TX, B894LTX07P.

TERM LIFE ANSWERS

Term Life 10 – 6179L-0696 (or state equivalent). In ID, 6337L-0696. In LA, 6179L-0696. In NC, 6254L- 0696. In OK, 6258L-0696. In OR, 6259L-0696. In PA, 5947L-0495. In NY, 738Y-1195. In TX, 5957L-0495, In WA, 5959L-0495.

Term Life 15 – 6181L-0696 (or state equivalent). In ID 6339L-0696. In LA, 6181L-0696. In NC, 6300L- 0696. In OK, 6304L-0696. In OR, 6305L-0696. In PA, 6306L-0696. In NY 749Y-0598. In TX, 6309L-0696, In WA, 6311L-0696.

Term Life 20 – 6182L-0696 (or state equivalent). In ID, 6340L-0696. In LA, 6182L-0696. In NC, 6323L- 0696. In OK, 6327L-0696. In OR, 6328L-0696. In PA, 5779L-0295. In NY, 805Y-0203. In TX, 5782L-0295, In WA, 5784L-0295.

Term Life 30 – 7064L-0203 (or state equivalent). In FL, 7157L-0203. In NC, 7164L-0203. In OK, 7169L- 0203. In OR, 7170L-0203. In NY, 805Y-0203. In TX 7172L-0203, In WA, 7175L-0203.

GUARANTEED UNIVERSAL LIFE

Sex Distinct – D187LNA10P, or state equivalent. In FL, D241LFL10P. In ID, LA, NC, OK, OR, PA, TX, and WA, ICC10L046P. In NY, 927Y-1110.

Unisex – D188LNA10P, or state equivalent. In FL, D242LFL10P. In ID, LA, NC, OK, OR, PA, TX, and WA, ICC10L047P. In NY, 928Y-1110.

GUARANTEED UNIVERSAL LIFE PLUS

Sex Distinct – D189LNA10P, or state equivalent. In FL, D243LFL10P. In ID, LA, NC, OK, OR, PA, TX, and WA, ICC10L048P. In NY, 929Y-1110.

Unisex – D190LNA10P, or state equivalent. In FL, D244LFL10P. In ID, LA, NC, OK, OR, PA, TX, and WA, ICC10L049P. In NY, 930Y-1110.

GUL EXPRESS

Sex Distinct – A998LNA06P, or state equivalent. In FL, B252LFL06P. In ID, National Form #. In LA, B264LLA06P. In NC, B286LNC06P. In OK, B302LOK06P. In OR, B306LOR06P. In PA, B310LPA06P. In TX, B326LTX06P. In WA, B342LWA06P. In NY, 867Y-0207.

Unisex – A999LNA06P, or state equivalent. In FL, B253LFL06P. In ID, National Form #. In LA, B265LLA06P. In NC, B287LNC06P. In OK, B303LOK06P. In OR, B307LOR06P. In PA, B311LPA06P. In TX, B327LTX06P. In WA, B343LWA06P. In NY, 868Y-0207.

Coverage may not be available in all states and may vary by state. Exclusions, limitations and reductions may apply.

All guarantees subject to the financial strength and claims-paying ability of the issuing company. Each company is responsible for its own financial and contractual obligations.

Life insurance and annuities are underwritten by United of Omaha Life Insurance Company, Mutual of Omaha Plaza, Omaha, NE 68175. United of Omaha is liscensed nationwide except in New York and does not solicit business in New York. In New York, Companion Life Insurance Company, Hauppauge, NY 11788-2934 underwrites life insurance and annuities.

Product base plans, provisions, features and riders may not be available in all states and may vary by state. Exclusions and limitations may apply.

Each company is responsible for its own financial and contractual obligations.

Life insurance and annuities are underwritten by United of Omaha Life Insurance Company, Mutual of Omaha Plaza, Omaha, NE 68175. United of Omaha is licensed nationwide except in New York and does not solicit business in New York. In New York, Companion Life Insurance Company, Hauppauge, NY 11788-2934 underwrites life insurance and annuities.

¹Washington Residents: the term “agent” is considered “producer” in your state.

AFN40102-433