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Term Life Insurance
If you are just starting out or need to cover short-term obligations or other financial goals, term insurance — also known as temporary insurance — may be an ideal solution. It's the simplest type of life insurance. With term insurance, you pay a premium for a guaranteed death benefit during a specified period of time.
The RiverSource® Term Series, issued by RiverSource Life Insurance Company and RiverSource Life Insurance Co. of New York offers:
- 1-, 10-, 15- and 20-year term policies with guaranteed premiums for the term you select
- Favorable tax benefit, including an income-tax-free death benefit
What's more, if your needs change, you have the option to convert to a RiverSource Life or RiverSource Life Insurance Co. of New York universal or variable universal life insurance policy of a lower or equal coverage amount without evidence of insurability anytime during your policy's specified time period — if you are age 65 or younger. Unlike permanent life insurance products, term insurance has no cash value to the insured.
Comparatively inexpensive over a short period, RiverSource term insurance provides protection at an overall low price. However, if you continue your term coverage at the end of your term, premiums may increase as you age or if you have changes to your health.
For more information on whether term or permanent insurance is best suited to your needs, consult your financial professional.
Permanent insurance
With permanent insurance, your premium helps build cash value and earns interest over time.
Applying for coverage.. .what you should know
Find out what type of life insurance could be right for you.
All guarantees are provided by the financial strength and continued claims-paying ability of RiverSource Life Insurance Company and in New York, by RiverSource Life Insurance Co. of New York.
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.