Whole Life Products
Farmers® Whole Life Insurance Policies
Whole Life Insurance: Permanent Life coverage that is provided for the insured's
lifetime. Premiums are usually level, and guaranteed for the life of the policy.
Whole Life policies build cash value that the policy owner may borrow during the
insured's lifetime, at a reasonable rate of interest. If there is an outstanding
loan at the time of the insured's death, the death benefit is reduced by the loan
Farmers Premier Whole Life® †
If you want the security of traditional whole Life insurance -- and the flexibility
to add special one-year term and single premium riders
and other options. It also has an Excess Credits feature that can mean added insurance
benefits or cash back.
Farmers Premier Whole Life1 can be great solution for:
- Young adults just beginning an insurance program
- Families needing protection
while saving for the future
- Professionals who require a lot of short-term insurance
coverage with the optional One Year Term Rider
Farmers Premier Whole Life is a nonparticipating policy
that features level premiums guaranteed over the life of the policy, a level death
benefit (for the base policy) and guaranteed cash values.
Excess Credits are based on future expectations of mortality, investments and expenses,
and may be paid throughout the life of the policy. They may be taken in cash, added
to the Deposit Fund (except in Kentucky and Tennessee), used to purchase
Paid-Up Additions or applied to pay future premiums. These credits are
not guaranteed and the Company reserves the right to pay lesser amounts on substandard
policies and policies with outstanding loans.
One-Year Term Rider2 (only available at issue), Single Premium Paid-up
Rider3(only available at issue), Waiver of Premium4,
Accelerated Benefit Rider-Terminal Illness5, Accidental
Death Benefit6, Children's Term Insurance Rider7,
Payor Death and Disability8 (for juvenile policies), Additional Insured
Rider9 and Deposit Fund10 (Retirement Premium Deposit Fund
in KS; not available in KY and TN).
Guaranteed Insurability Benefit11 is available
on juvenile policies only (issue ages 0-15.)
Auto/Life and Home/Life Discounts:
In addition to providing inexpensive coverage for your temporary Life insurance
needs, Farmers Term Life Insurance policies can qualify you for discounts on your
Farmers Auto and Farmers Homeowners insurance12.
18-80 Nicotine Class
21-80 Non-nicotine Classes
0-17 for juveniles (conversion to Non-Nicotine status at age 21, if eligible)
Application Minimum (varies by premium band):
Band I, $10,000 - $24,999 (ages 0-50) and $25,000 - $99,999 (ages 51-80);
Band II, $100,000 - $249,999;
Band III, $250,000 and higher.
†Product name changed to Farmers® Premier Endowment at age
100 (in IN)
1Policy form 1995-112 series
2 Policy form 1995-512 OYT series
3 Policy form 1995-312 SP series
4 Policy form 1995-97 WP series
5 Policy form 2004-127 ABR-TI series
6 Policy form 1995-100 ADB series
7 Policy form 1987-107 CTIR series
8 Policy form 1974-95 WP Payor; 1968-95 WP Payor
9 Policy form 1997-538 AIR series
10 Policy form 1994-10,000 RDF series; 1994-10,001 PDF (IL, SD);
1994-10,002 RPDF (IN, MT); 1994-10,003 RPDF (w) (KS)
11 Policy form 1980-171 GIB Rider
12 Discounts apply to selected property and casualty coverages, perils,
and policy types only and may vary by state and eligibility.
Farmers® Fixed Premium Whole
Farmers Fixed Premium Whole Life13 is a permanent policy designed for
fast underwriting of smaller death benefit amounts. This policy may be able to fill
a variety of client needs including:
- Older customers, particularly those age 55 and older, who are interested in a policy
to cover final expenses.
- Associations or organizations seeking small amounts
of insurance for members who have no employer/employee relationship.
Fixed Premium Whole Life is specifically designed for efficient
underwriting and issue service. Although this is not a guaranteed issue
product and each application will be underwritten, in most cases a policy can be
issued within a few days.
Fixed Premium Whole Life has these two important features:
- Constant level of protection and constant premiums until age 100.
cash value, guaranteed to increase at 4 ½ percent yearly for the life of
Fixed Premium Whole Life is a nonparticipating whole Life insurance product that
provides a level amount of protection with level premiums
to age 100. The policy features guaranteed cash values at a 4 ½ percent interest
rate. Policy loans, as well as Reduced Paid-Up and Extended Term
nonforfeiture options are available. If the insured is living at age
100, the face amount, less any outstanding loan, is paid as an
21-80 (All states except Washington)
Washington: male 21-66 female 21-71
$10,000 for ages 21-50
$5,000 for ages 51-80
$25,000 for ages 21-65
$15,000 for ages 66-80.
†Product name changed to Farmers® Fixed Premium Endowment
at age 100 (in IN)
13Policy form number 1992-105
Products and features may not be available in all states and may vary by state.