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How to Choose a Policy

Making it easy to see what coverage is right for you and your family.

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What Life Insurance Policy is Right For You?

Below is a chart that outlines the basic differences between Term and Whole Life Insurance policies. This guide can help you determine what plan is right for you and your family, but the best way is to contact a Colorado Farm Bureau Insurance agent. Click here to find an agent close to you. 

Term Life Whole Life
Advantages Simple


Lifetime Coverage

Access to cash value

Purpose Short-term coverage needs Long-term coverage needs
Premiums Can increase periodically OR
be guaranteed level for the
duration of the policy
Guaranteed Cash Value No Yes
Death Benefit Yes Yes
Available Policies •10 Year Term Premier
•20 Year Term Premier
•30 Year Term Premier
•10 Year Participating Term
•20 Year Participating Term
•15 Pay Juvenile Life
•20 Pay Life
•30 Pay Life
•Whole Life
•Single Premium Whole Life

Calculate How Much Life Insurance You May Need

Completing the information below can help provide an estimate of the amount of life insurance that may be needed. The form below is just an estimate of the amount of insurance you need and is not a contract or an offer of life insurance.

  • 1. Personal Debt

    Include the balance of any Installment Loans, Auto Loans, Credit Cards and Outstanding Bills.

  • 2. Housing

    Include your Mortgage/Rent and any Utilities.

  • 3. Child/Home Care

    Include Daycare expenses and any other Household Assistance.

  • 4. Education Funding

    Use your Number of Children _______ X $ ________ per year

  • 5. Emergency Fund

    List any Unexpected major repairs/purchases for home or auto.

  • 6. Final Expenses

    Include estimates for Medical and Hospital expenses, Funeral, Estate Taxes, Attorney and Court Costs.

  • 7. Survivors' Income

    Take the Amount per year $_______ x _______ years.

  • 8. Total Expenses (Less Current Life Insurance)

  • 9. Death Benefit

  • Total Dollars Needed

    This is not a contract or an offer of life insurance.

Now that you have a better idea of what kind of life insurance you may need, contact a local Colorado Farm Bureau Insurance agent to discuss a policy.

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