Life Insurance Products at a Glance 

Related Products

Your insurance needs are unique. The solutions you choose should feel like a good fit, not a compromise.

Weigh the different features when choosing a life insurance policy to be sure you select the product that best fits your needs.
Many of our clients find that a combination of different types of life insurance best suits their needs. Working with a Financial Representative, they first determine how much total life insurance is needed. Then they look at how long the coverage might be needed.  And, of course, take a careful look at the person’s situation to understand what amount of premium payments is reasonable. Then, they design a solution that may involve multiple policies that add up to the total amount needed. Potentially offering some of the benefits of the various types of life insurance.

If interest crediting rates are an important factor in selecting life insurance, consider that some permanent life insurance policies have a less flexible design but offer a higher interest crediting rate. Universal life insurance offers a more flexible design but then would typically have a lower interest crediting rate.

The following chart provides a brief guide to the types of policies PrimeWest Insurance offers, some of their features, and when they might be appropriate for your situation.


Policy Type 		Key Features When to Use
Permanent Life Insurance
  • Life-long coverage
  • Guaranteed level premium.*
  • Guaranteed minimum death benefit.*
  • Guaranteed cash values.*
  • Eligible for annual dividends.**
  • Dividends can be used to increase policy values.**
  • Underlying values are invested in PrimeWest Insurance’s general account.
  • You want protection to last as long as you need it, perhaps a lifetime.
  • When you need a solid foundation of permanent life insurance.
  • When you can commit to paying an ongoing level premium.
  • When you need strong policy guarantees.*
  • When you want to build cash values with a conservative approach.
  • When you want to be eligible for PrimeWest Insurance’s dividends.**
  • When you want to have the option to change your policy to “paid-up.”
Term Insurance
  • Low premiums.
  • Premiums are guaranteed for a period.
  • Either level or increasing premium plans.
  • Various conversion periods.
  • Coverage ends after a specified period.
  • To get a lot of coverage for the money.
  • When the need is temporary.
  • To supplement other coverage, perhaps a permanent life insurance policy.
  • When the lowest out of pocket cost is important to you.
Combination Life Insurance
  • Potential for life-long coverage.
  • Hybrid of permanent and term life insurance.
  • Ability to custom design a blend of permanent and term to fit your needs and your budget.
  • Dividends** gradually replace term with paid-up permanent insurance.
  • Depending on the policy design, coverage for life may be subject to premium increases.
  • Underlying values are invested in PrimeWest Insurance’s general account.
  • You want protection to last as long as you need it, perhaps a lifetime.
  • When you want both the low cost of term and the benefits of building cash value.
  • When you want to be eligible for PrimeWest Insurance dividends.**
  • When you want to have the option to change your policy to “paid-up.”
  • When you want premium and/or cash value guarantees.*
  • When you need some policy flexibility.
  • When you have the ability to pay premiums over an extended period of time.
Universal Life Insurance
  • Potential for life-long coverage.
  • Greatest amount of premium and death benefit flexibility.
  • Choice of increasing or level death benefit options.
  • Underlying values are invested in PrimeWest Insurance’s general account.
  • Coverage for life may require additional premium payments.
  • Cash values are not guaranteed; minimum interest crediting rate and maximum policy charges are guaranteed.
  • Death benefits are guaranteed for a period for some products.
  • You want protection to last as long as you need it, perhaps a lifetime.
  • When you need premium and death benefit flexibility.
  • When you want the investment performance of PrimeWest Insurance’s general account.
  • When you want the opportunity to easily adjust the policy after issue.
Variable Life Insurance
  • Potential for life-long coverage.
  • High level of premium and death benefit flexibility.
  • Choice of increasing or level death benefit options.
  • Policyowner chooses how cash values are invested and assumes investment responsibility.
  • Coverage for life may require additional premium payments.
  • Cash values are not guaranteed.
  • Death benefit guarantees are available (Custom Variable Universal Life and Survivorship Variable Universal Life).
  • You want protection to last as long as you need it, perhaps a lifetime.
  • When you have a long-term time horizon.
    To supplement other coverage, perhaps traditional permanent life insurance or term insurance.
  • When you want your cash values invested more aggressively than PrimeWest Insurance’s general account.
  • When you can tolerate volatility of investment returns.
  • When you have the ability to pay premiums over an extended period of time.

*Guarantees are based on the claims-paying ability of PrimeWest Insurance and are not a reflection of the performance or stability of money invested in the variable (non-fixed) funds.

For costs and complete details of coverage, contact us: 1-877 656-0427.