What is Life Insurance?
Life Insurance is a protection for your family and a part of overall strategy for financial planning. Many of you may not like to think about it, but your death can be costly to your loved ones. At the very least, there will be funeral and burial costs. There may also be estate taxes and outstanding debts to pay, such as medical expenses not covered by your health insurance. If you have dependents, they will have to cope with these costs while no longer having your income to rely on. The proceeds from a life insurance policy can be of tremendous value at this time. It will provide economic assistance to your family so they can pay off the mortgage, college tuition and other ongoing expenses and maintain their current lifestyle.
Farmers Insurance Group provides various types of life insurance. Each type of life insurance is suitable for a specific life situation. Let us talk about each type of life insurance to give you a better idea about it.
Farmers Term Life
Farmers Term Life Insurance is the right choice when you’re looking for temporary coverage to fit your current family or business needs. These plans generally provide the most coverage for your insurance dollar. What’s more, several of the plans are renewable or even convertible to permanent forms of coverage that lock in your premium cost over the life of the policy.
Farmers Universal Life
Sometimes basic life insurance isn’t the right choice. Farmers Universal Life Insurance programs are designed to provide protection that fits your changing financial situation with Flexible coverage, Changeable death benefits, Options for timing and method of premium payment and a long list of features and options. Farmers Universal Life plans offer preparation for retirement, estate conservation and tax benefits you should know about
Whole Life Insurance
Farmers Whole Life Insurance plans lock in a level premium for a lifetime and provide living benefits for yourself in the form of cash value. Our Whole Life plan also lets you purchase additional insurance at various life stages through a guaranteed insurability benefit. This benefit allows you to buy more insurance at ages 25, 28, 31, 37 and 40 and when major events occur.
There are many choices when it comes to life insurance, so it is important to work with a knowledgeable insurance agent or company representative. We can help you with life insurance choices with Farmers Insurance products. If you are in Omaha, Millard, Ralston, Papillion, Elkhorn, Bellevue or surrounding areas, do drop by or contact us to learn how we can help you with a very important decision in your life.
