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Life Insurance Solutions:

What is Life Insurance?

At Farmers®, we know it's difficult to imagine a time when you won't be there to help provide for your family. That's why Farmers has developed a suite of Life insurance products designed to help answer your Life insurance requirements, at any stage of life. Whether you're a new family, empty nester, business owner, or single parent, Farmers has a Life insurance option to suit your needs and budget.

Protecting Your Family:

By preparing in advance, you'll have the peace of mind that comes from knowing you're protecting your family's financial future. And since Life insurance benefits are generally not taxable at the federal level**, your loved ones can use the benefits to help take care of their living expenses in a variety of ways.

  • Any needs after the time of death, such as final illness expenses, burial costs and estate taxes.
  • Funds for a readjustment period, to finance a move, or to provide time for family members to find a job.
  • Ongoing financial needs, such as monthly bills and expenses, daycare costs, college tuition or retirement.

    • Types of Life Insurance:

    Term Life
    Farmers Term Life insurance could be the right choice when you're looking for temporary coverage to fit your current family or business needs. These policies generally provide the most coverage for your insurance dollar. What's more, several of the policies are renewable or convertible to permanent coverage that lock in your premium cost over the life of the policy.

    Whole Life
    Whole Life Insurance: Permanent Life coverage that is provided for the insured's lifetime. Premiums are usually level, and guaranteed for the life of the policy. Whole Life policies build cash value that the policy owner may borrow during the insured's lifetime, at a reasonable rate of interest. If there is an outstanding loan at the time of the insured's death, the death benefit is reduced by the loan amount.

    Universal Life
    Sometimes basic Life insurance isn't the right choice. Farmers EssentialLife® Universal Life is designed to provide protection that fits your changing financial situation with: * Flexible coverage * Options for timing and method of premium payment * Many useful features and options, to tailor coverage to your personal needs Farmers EssentialLife® Universal Life policies could help you in your preparation for the future. Your Farmers agent can explain them.

    Life Annuities
    Simply put, an annuity is a contract in which an insurance company promises to make a series of payments in exchange for a single deposit or a series of payments during your earning years. Annuities help protect against outliving your earning years or your retirement resources. Compound interest is credited to these payments and the earnings are not currently taxed during the accumulation period, which is an important reason why people purchase annuities. Farmers Life offers several different types of annuities based on structure, risk and rate of return to assist prospects in meeting specific retirement, financial or business goals.