Could anybody help me translate into plain English please. Life Annual Report

The company expects your coverage to last until July 2084 assuming you pay all your planned premiums and don’t don’t take money out of the policy without making up for it.

But the company doesn’t know exactly how much they will end up being able to credit your policy or if they will have to increase your policy charges, so they can’t promise it will last to age 100. However, they do promise that if you pay all planned premiums without taking money out, then your coverage will last until age May 2072 at least. And even if you don’t pay any more premiums, your coverage is guaranteed to last to February 2032.

You have an accelerated benefits rider, so if you get diagnosed with a qualified terminal illness you should be able to get some of your death benefit before you pass away. Ask your carrier for details.

You may also want to ask your carrier what happens if you live beyond age 100. Many companies would let you keep your coverage over age 100 if you pay enough premiums to keep it in force. For example if you pay the current planned premiums and the policy performs as expected, you may be able to increase how much you’re paying at age 100 in order to extend the coverage longer, but I do not know about Colonial Life specifically, so you have to ask them.

It doesn’t say who your beneficiaries are, so you should definitely ask them about that too.