Life Insurance
Do you have people counting on you and your income?
Life insurance is probably the most important, yet under-used insurance available. Yes, you will purchase Life Insurance on yourself, but it is not for you, it is for your family. You have your vehicle covered so your quality of life is hardly impacted if something were to happen to it. Your life is far more valuable than your vehicle! Is your life covered? If something were to happen to you, wouldn’t you want something in place to at-least absorb the financial impact for your family? Your Life Insurance policy will be there to provide stability to your family when you can’t be. It’s not about leaving behind a large sum of money. It is about making sure your family does not have to wonder how they will continue to pay the mortgage, send the kids to college, pay off debt, and pay for your final costs.
Would you like to learn more?
Understanding Life Insurance
Interested in helping to protect your loved ones’ financial future, but not sure where to begin? We’ve put our 100 years of experience and know-how at your disposal. With Farmers we’ll help you understand:
- When is the best time to apply for life insurance?
- How much coverage do I need?
- What types of coverage are available?
- How do I talk to my family and my agent about Life insurance?
Finding the Right Life Policy
Life is all about options and choices, and so is Farmers Life® insurance. With a variety of coverage options and products, you can find the coverage that you want for your family and your needs.
- Understand the difference between Term and Permanent coverage.
- See which term coverage options there are, for generally the greatest amount of coverage at the lowest initial cost.
- See which types of whole life insurance options there are, for permanent coverage and cash value accumulation.
- See which types of universal life insurance options there are, to help meet your current and future financial needs.
Getting the Help You Want
The Glaze Agency understands that life insurance is a personal decision, and not one to take lightly. That’s why we have knowledgeable agents right in your community, ready to help you with the information, experience, and personalized service you need to guide you through the Life insurance process.
The Two Basic Forms of Life Insurance
Term Life Insurance
Term life insurance policies generally offer the greatest amount of coverage for the lowest initial cost – they are the most straightforward form of coverage. If you have shorter-term needs and limited money to spend on insurance, a term life insurance policy from Farmers New World Life Insurance Company may be the best fit for you.
Policyholders generally pay a premium on a monthly or annual basis for the length of that term. Proceeds help to cover financial responsibilities that decrease or end over time, like mortgages or car loans, should something happen to the insured. With term life policies, premiums will increase at the end of the fixed-term period.
Term life insurance policies are typically used to help provide additional life insurance coverage during child-raising years, to help pay for short-term debts, to help pay off a mortgage, or to fund a college education should the unexpected happen.
Whole Life Insurance
Whole life is one of the most common types of permanent life insurance offered by Farmers New World Life Insurance Company. Whole life insurance combines a level premium with guaranteed cash values which the policy owner may use to meet a variety of financial goals. Whole life insurance policies may also produce excess credits, which may be used to purchase additional paid-up life insurance, potentially increasing the available death benefit. Best of all, whole life policies may offer generally income tax-freefooter note4 access to cash value and death benefits.