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What do you love in your life? You can be grateful to a partner who understands you better than anyone. You may like to see your children embrace their talents. Maybe your latest update will give you a chance to show off some of your driving skills.

If all goes according to plan, you will pay the mortgage, send your children to college and enjoy a long retirement. But you know the unexpected can happen: do you want to help plan for your family's future if they are going to continue without you? Life insurance can help reduce the financial burden on them.

A Farmers® agent can offer you a number of coverage options that you can customize based on your priorities and budget. In fact, life insurance plans may be more affordable than you think.

Types of life insurance

Farmers Life offers three types of life insurance, each with unique features:

Life insurance

Term life insurance is a type of life insurance policy in which the premiums remain constant for a specified period of time, usually for 10, 20, or 30 years. After the end of the leveled premium period, premiums will generally increase. Coverage continues as long as premiums are paid. This is probably an option you may want to consider when your budget is very limited and you will have large expenses in a shorter period of time.

Often times, you can pay a lower premium when you choose a shorter term, say 10 years instead of 20. But because premiums are based on risk of death, once you get out of the premium period, your policy Life insurance generally becomes more expensive as you age. .

Whole life insurance

Whole life is permanent insurance - you are insured for your entire life or until the policy expires, as long as you continue to pay your insurance premiums in accordance with the terms of the contract. These premiums will remain fixed for as long as the policy is in force. Over time, permanent insurance generally builds accessible cash value 1 for a variety of purposes while it's still alive.

Comprehensive life insurance

Like all life, a whole life is permanent insurance that can also lead to an accumulation of monetary value. Provides more flexibility. You can design a policy to meet changing priorities with 2 flexible installments and against payments. Universal Life also gives you more control over how quickly your dollar value grows.

What is your best coverage?

When it comes to life insurance, there is no "one size fits all." Everyone has different needs, goals, and financial considerations. That's why coverage comes in a variety of forms, with a number of features that you can customize based on your particular situation:

  • Your family is young and growing, so you may have a mortgage, car loans, and childcare costs. While your expenses may continue to increase over time, you may want an affordable life insurance policy to help you plan for your family's financial future until the children grow up and the costs of the house are paid.
  • You are more rooted in life. In addition to providing a death benefit to beneficiaries, you can take advantage of Loan 1 or partial exemption benefits for certain policies to help support things like supplemental retirement income, caring for a family member with a disability, or preparing for final property taxes.
  • You are single and have no children. Death statements from a life insurance policy can help support liabilities like the costs of your personal debt, medical bills, or final expenses, and can also help leave a legacy for someone you love or a favorite charity.


A farmer's agent can explain his options, along with information about 3 passengers, such as:

Disability riders that can help pay your policy premiums and can supplement your loss of income, if you are disabled.
The Quick Death Benefit Contestant which allows you to collect a portion of the death benefit on the policy if you are terminally ill with a short life expectancy.
A participant with a serious illness pays you a lump sum if they are diagnosed with a specific serious illness, such as cancer, heart attack, or stroke.
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