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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.

  • Simple Term

    Simple Term life insurance coverage is designed with a simplified life insurance application and accelerated underwriting process. This product offers level-term insurance with face amounts low enough to fit many budgets, and premiums that are guaranteed level for 10, 20, or 30 years.

    Features

    • Coverage starting at $75,000
    • Convertible to lifelongfooter note coverage that may build cash value regardless of health
    • No lengthy forms, medical exams or lab tests required, however, issuance of a policy may depend on answers set forth in the application
  • Value Term

    Value Term provides affordable life insurance coverage with premiums that are guaranteed not to increase for 10, 20, or 30 years. When you need enough coverage to help protect your family against loss of income or the cost of a mortgage, Farmers Value Term may be a cost-effective solution for you.

    Features

    • Guaranteed level death benefitfooter note
    • Convertible to lifelong coverage that may build cash value, regardless of health
    • Coverage starting at $150,000
  • Decreasing Term

    Decreasing Term life insurance is decreasing-term coverage with premiums guaranteed to remain level as long as the policy is in force. The death benefit decreases monthly, rather than annually, to more closely follow the declining loan balance of a traditional fixed home mortgage. The death benefit amount decreases to 20% of the original face value over the duration of the term.

    Features

    • Coverage starting at $25,000footer note
    • 15, 20, 25, and 30-year policies are available
    • Convertible to lifelong coverage that may build cash value regardless of health

2 Policy form 2005-261 or applicable state variation. Available face amounts may vary. Premiums are subject to change after the initial term period.
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3 Lifelong coverage is guaranteed as long as all the premiums are paid to keep the policy in force.
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4 Policy form 2000-228, 2000-230, 2002-226 or applicable state variation. Premiums are subject to change after the initial term period.
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5 The death benefit is guaranteed according to the terms of the contract and provided that premiums are paid.
Policy form 1995-255-258 or applicable state variation.
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7 Coverages starting at $25,000 in most states; $50,000 in TX and CA.


Decreasing Term Insurance

A lot of young families invest in decreasing term insurance for the parents.

Term Life Insurance

Term life insurance policies generally offer the greatest amount of coverage for the lowest initial cost.

Premier Whole Life Insurance

Give a gift of a Whole Life Insurance policy to your children. Prices are generally very affordable for children and the policy has the ability to grow a cash value.

Essential Life Simple Whole Life

A whole life insurance policy can provide a lifetime of protection while being able to borrow against the cash value.

  • Decreasing Term Insurance

    A lot of young families invest in decreasing term insurance for the parents.

  • Term Life Insurance

    Term life insurance policies generally offer the greatest amount of coverage for the lowest initial cost.

  • Premier Whole Life Insurance

    Give a gift of a Whole Life Insurance policy to your children. Prices are generally very affordable for children and the policy has the ability to grow a cash value.

  • Essential Life Simple Whole Life

    A whole life insurance policy can provide a lifetime of protection while being able to borrow against the cash value.

Whole Life Insurance

Whole life insurance is a common type of permanent life insurance offered by Farmers New World Life Insurance Company. Whole life insurance combines level premiums with guaranteed death benefits.footer note

In addition, whole life insurance policies have guaranteed cash values which may be used by the policy owner to help support a variety of financial goalsfooter note and they may produce excess credits which may be used to purchase additional paid-up life insurance, potentially increasing the available death benefit.

Whole life policies may also offer generally income tax-freefooter note loans and death benefits.footer note

  • Essential Life Simple Whole Life

    EssentialLife® Simple Whole Life is a whole life insurance policy combining the traditional guarantees of whole life with optional riders (available at additional charge), potential to earn excess credits, and a discountfooter note for customers with other Farmers insurance policies.

    EssentialLife Simple Whole Life features guaranteed level premiums payable to age 100 and guaranteed cash values. Unlike universal life insurance policies, the cash value, premium requirements, and death benefit of Farmers Simple Whole Life policy do not vary based on prevailing interest rates or market performance. It may be an ideal product for customers seeking more certainty.

    Features

    • Automated underwriting
    • Discounts available for customers owning other Farmers policies
    • Underwriting decisions possible in minutes after completing the application with our office
  • Graded Death Benefit Whole Life

    To help prepare for life's unexpected expenses, Graded Benefit Whole Life is a life insurance policy for those who want permanent insurance coverage with guaranteed cash values and guaranteed level premiums with a lower face amount. With a simplified underwriting process, the Graded Benefit Whole Life policy could offer individuals who may not qualify for other types of life insurance an opportunity to obtain permanent whole life coverage.

    Features

    • No medical exam, just three simple health questions to determine eligibility
    • Guaranteed cash value accumulation
    • Guaranteed death benefit. Limited death benefit during the first two policy years
  • Premier Whole Life

    For level insurance coverage throughout the life of the insured, Premier Whole Life features guaranteed level premiums and guaranteed cash values.

    Features

    • A wide range of face amounts for many financial needs
    • Guaranteed cash value accumulation
    • Option to add several riders and benefits, available at an additional charge

2Lifetime (or life of the policy) coverage is guaranteed provided premiums are paid per terms of the contract.

3The death benefit is guaranteed according to the terms of the contract and provided that premiums are paid.

4Policy loans and withdrawals will reduce cash surrender value and death benefit. Policy loans are subject to interest charges. If your policy is a modified endowment contract, loans and withdrawals may be subject to taxes and penalties.

5Distributions from a life insurance policy in the character of partial surrenders (withdrawals) up to basis or policy loans will generally be income tax free, provided the policy does not violate Modified Endowment Contract (MEC) guidelines and the policy is not terminated during the lifetime of the insured. MEC guidelines are rules in the Internal Revenue Code which specify maximum premiums that can be paid without triggering adverse tax consequences for withdrawals. A policy termination during the life of the insured can cause the owner a single taxable event for any gains in the policy that were borrowed or withdrawn on or before the termination date.

6 For informational purposes only. In general, partial withdrawals from a permanent life insurance policy in excess of the policy’s basis are taxable, and limited circumstances exist where death proceeds will be taxable. Neither Farmers New World Life Insurance Company, its employees nor its Agents provide legal or tax advice. Always consult your own attorney, accountant or tax adviser as to the legal, financial or tax consequences and advice on any particular transaction.

7 Farmers EssentialLife Simple Whole Life, policy form 2008-352.

8 Qualifying Farmers customers may receive up to a 6% discount on the base premium rate per thousand. Contact your agent for more details.

9 Farmers Graded Death Benefit Whole Life Insurance policy form number ICC17-FGDB or applicable state variation. Limited death benefit during the first two policy years.

10 Farmers Premier Whole Life (Farmers Premier Endowment at age 100 in IN and PA). Policy form 1995-112 or applicable state variation. Certain riders and benefits are not available after issue.


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