It makes sense to buy permanent life insurance, but not if you must sacrifice protecting some of your family’s needs with less coverage than the same premiums would buy with term insurance.
Why Choose Term Life Insurance?
Premium is often the deciding factor when selecting the type of life insurance to purchase. Farm Bureau® Insurance’s term life insurance policies offer pure insurance protection and are generally more affordable than permanent protection.
While a permanent plan may not be the best solution to cover your needs, there are times when the dollars are not available for permanent protection. Covering your needs and securing your family’s finances is what’s important. Your term insurance policy pays a tax-free benefit to your beneficiary at your death.*
Term Life Insurance Plans
Farm Bureau Insurance offers a term life insurance plan to fit your budget and your temporary needs. With three term plans available, there’s one that’s right for you. If you have questions about purchasing life insurance, please contact a local agent.
When it comes to death benefits, covering your needs and securing your family’s finances is what’s important.
10 Year Term Premier
The 10 Year Term Premier policy offers a level death benefit at amounts of $100,000 or greater. Premiums are guaranteed and level for 10 years. The policy is annually renewable to age 95, the premiums increase annually after 10 years. The policy may be converted to a fixed premium permanent life insurance policy during the first 5 years without proving insurability, provided that no additional benefits or riders are requested at the time of conversion.
20 Year Term Premier
The 20 Year Term Premier policy offers a level death benefit at amounts of $100,000 or greater. Premiums are guaranteed and level for 20 years. The policy is annually renewable to age 95, the premiums increase annually after 20 years. The policy may be converted to a fixed premium permanent life insurance policy during the first 10 years without proving insurability, provided that no additional benefits or riders are requested at the time of conversion.
30 Year Term Premier
The 30 Year Term Premier policy offers a level death benefit at amounts of $100,000 or greater. Premiums are guaranteed and level for 30 years. The policy is annually renewable to age 95, the premiums increase annually after 30 years. The policy may be converted to a fixed premium permanent life insurance policy during the first 15 years without proving insurability, provided that no additional benefits or riders are requested at the time of conversion.
Term Rider for Children
Children’s Term Rider (CTR). The CTR is a Term Life Rider providing $20,000 of level death benefit protection for all eligible children and future unborn children, after reaching 15 days old. The CTR charges one level premium regardless of the number of children insured by the rider. The CTR protects the child’s insurability by offering the opportunity to convert up to five times the coverage amount to a permanent policy without proving insurability. This option to convert is available depending on the provisions in the policy contract. Each child’s coverage will terminate on the earlier date of the child’s 25th birthday or rider expiry.
Premier Term Life plans are non-participating products. There is no cash value and no dividends.
*No information presented should be viewed as tax, legal, or accounting advice. Neither Farm Bureau agents nor Southern Farm Bureau Life Insurance Company or its representatives are authorized to give such advice. Individuals should consult their own tax advisor or legal representation regarding their particular circumstances. Comments on tax information is based on the current tax law, which is subject to change.
Our Term Life Insurance is a product of Southern Farm Bureau Life Insurance Company.
