- Life insurance can provide you with the growth and security you need to protect your dreams over a lifetime
- 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|
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.