Life insurance

  • Life insurance provides funds to your family or an organization after your passing
  • Term life insurance provides protection at a low cost, but doesn't build cash value
  • Permanent life insurance provides protection while serving as an investment opportunity with potential for growth

Life insurance provides a way to help those you care about to maintain their quality of life in the event of an untimely death and may provide retirement and other benefits to you during your lifetime.

Why life insurance?

A life insurance policy can provide protection based on your current situation, goals and needs:

  • Permanent life insurance. Provides lifelong coverage while building cash value
  • Term life insurance. Often costs less, but covers only a set period of time and does not build cash value

If you already took steps to financially protect your family, remember to periodically assess your situation. Changes in your income, financial obligation and long-term goals mean the type and amount of life insurance you need may have changed, too.

Life insurance planning with Ameriprise Financial

When you discuss life insurance with an Ameriprise financial advisor, you’ll need to review information about your financial situation. For example, you’ll likely cover your:

  • Current life insurance and savings
  • Current income and monthly expenses
  • Other family commitments, such as college funding
  • Survivor's basic needs
  • Survivors' expected income vs. income needed to cover expenses for life

After assessing your coverage needs, your advisor can recommend the right life insurance policy for you.

Term insurance

Permanent insurance

Choose for a specific time period (term)

Choose for long-term protection

  • Provides coverage for a selected time period such as 10, 15 or 20 years
  • Your beneficiaries collect the proceeds of the policy if you pass away during the selected years
  • A term policy does not build cash value


  • Provides coverage until death, as long as premiums are paid on time
  • A permanent policy may build cash value
  • You can borrow from the cash value income tax-free to meet other financial needs


Take the next step

To determine the type and amount of life insurance that's right for you, talk to a financial advisor.

Ameriprise Financial can help you protect what's most important with our own RiverSource® life insurance or insurance offered through other providers.

Before you purchase, be sure to ask your financial advisor about the life insurance policy’s features, benefits, risks and fees, and whether the life insurance is appropriate for you, based upon your financial situation and objectives. Variable life insurance is a complex investment vehicle that is subject to market risk, including the potential loss of principal invested.

2 Each person represented is a policyholder or beneficiary of an insurance policy issued by RiverSource Life Insurance Company or RiverSource Life Insurance Co. of New York, and is discussing his/her experience in that regard.

Accessing policy cash value through loans and surrenders may cause a permanent reduction of policy cash values and death benefit and negate any guarantees against lapse. The amount that can be borrowed or surrendered will be affected by the surrender charges applicable to the policy. Loans may be subject to interest charges. Although loans are generally not taxable, there may be tax consequences if the policy lapses or is surrendered with a loan (even as part of a 1035 exchange). It is possible that the amount of taxable income generated at the lapse or surrender of a policy with a loan may exceed the actual amount of cash received. Surrenders are generally taxable to the extent they exceed basis in the policy. If the policy is a modified endowment contract (MEC), pre-death distributions, including loans, from the policy are taxed on an income-first basis, and there may also be a 10% federal income tax penalty for distributions prior to age 59-1/2.

RiverSource Distributors, Inc. (Distributor), Member FINRA. Insurance and annuity products are issued by RiverSource Life Insurance Company and in New York, by RiverSource Life Insurance Co. of New York, Albany, New York. These companies are affiliated with Ameriprise Financial Services, Inc. Only RiverSource Life Insurance Co. of New York is authorized to sell insurance and annuities in New York.

Brokerage, investment and financial advisory services are made available through Ameriprise Financial Services, Inc. Member FINRA and SIPC. Some products and services may not be available in all jurisdictions or to all clients.