Life Insurance

Life Insurance
Life insurance helps protect the financial future of members family or business upon their death. Without life insurance, their family could be left without enough money to maintain their standard of living, pay bills or even take care of their final expenses.

In addition to keeping our members family financially secure after a primary provider is gone, life insurance can provide more than peace of mind for them while their alive. Depending on their life insurance policy, they may be able to use the money in their cash value account for purchasing a home, financing college, supplementing retirement income or other expenses. Life insurance can also have tax advantages.

Types
There are two main types of life insurance ― Term or Permanent. The type that’s right for our members depends on their specific short- and long-term needs, stage of life and how much life insurance you need. Life insurance rates are lower when you are younger and healthier, so its important for our members to consider their life insurance options early in their lives.

Term Life Insurance
Term life insurance provides the most life insurance protection for the least cost since you purchase it to cover a set period of time and it doesn’t accumulate cash value – it helps to cover needs during those years when you are buying a home, raising a family, sending children to college or building a business.

If you think you can’t afford life insurance, imagine how your family would make ends meet without your income.

Choice Term life insurance policy from Farm Bureau provides affordable term life insurance to cover the years when there are big financial needs — like when your family is growing — because you can get more life insurance coverage for less cost than permanent life insurance.

Our Choice Term life insurance offers:

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Term options
You can choose from five specific coverage terms ― 1, 10, 15, 20 or 30 year(s) ― depending on your family or business needs. You can also select the amount of coverage you need, subject to certain minimums.1

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Premium plan options
Your premium payments remain the same for the term you select. Upon renewal, premiums increase annually to age 100. You can choose from our guaranteed premium plan, where the premium scale is guaranteed when the policy is issued and will never change, or our value premium plan, where current premiums are lower, but are not guaranteed and can be increased by us up to the policy maximum.

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Premium discounts
You may qualify for lower premiums if you have not used tobacco products in the past 12 months, and/or if you meet certain requirements, including acceptable blood pressure and cholesterol levels.

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Renewable coverage
You may renew your term life insurance policy up to age 100.

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Financial protection for others
If your death occurs during the coverage period, your beneficiaries will receive policy proceeds either as a lump sum or through flexible, guaranteed2 income payment options. These benefits are paid directly to your beneficiaries, so there should be no additional costs or delays in receiving the policy proceeds.

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Conversion to permanent life insurance ― you may convert your term life insurance to a permanent life insurance policy without a medical review prior to age 75. Conversion credit may be available.3

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Optional protection available at an additional cost:

•	Return of Premium4 Rider guarantees a return of all the premiums you’ve paid, without interest, if you live to the end of the initial coverage period you select. For example, the lump-sum benefit with this rider for a 30-year term policy with a $500 annual premium would be $15,000. In addition, a reduced benefit may be available in earlier policy years.
•	Return of Premium4 Rider guarantees a return of all the premiums you’ve paid, without interest, if you live to the end of the initial coverage period you select. For example, the lump-sum benefit with this rider for a 30-year term policy with a $500 annual premium would be $15,000. In addition, a reduced benefit may be available in earlier policy years.
•	Children’s Term Life Insurance Rider allows you to add term insurance for each of your qualifying children, age 7 days to 23 years.
•	Guaranteed Reentry5 Rider allows you to purchase a new term life insurance policy without a medical review after the coverage period you select comes to an end.
•	Waiver of Premium Rider waives premiums for the duration of a total disability you experience for 90 or more consecutive days. Unless benefits are being paid under this rider, this protection ceases on the policy anniversary of the year you turn age 65.
•	Living Benefit6 Rider allows the policy owner to receive money by using a portion of the policy’s death benefit if the insured is diagnosed with a qualifying terminal illness. This rider is provided at no additional cost.

Minimum coverage is $10,000, or $100,000 for Preferred or Super Preferred classes.

The guarantees expressed on this Web page are based on the claims-paying ability of Farm Bureau Life Insurance Company.

The conversion credit is available under current Company practice, which is not guaranteed and is subject to change at any time.

The Return of Premium Rider is not available in Minnesota or Utah. This rider is only available on the Choice Term 15-, 20- and 30-year life insurance policies with the Guaranteed Premium Plan.

Not available on the Choice Term 1 life insurance policy.

Known as the Accelerated Benefit Rider in some states. Not available in Nebraska on the Choice Term insurance policy.

IMPORTANT: The information and material contained on this Web site is not an offer to sell or a solicitation to buy any security or any insurance product in any jurisdiction. No security or other insurance product is offered or will be sold in any jurisdiction in which such offer or solicitation purchase or sale would be unlawful under the securities, insurance or other laws of such jurisdiction. Not all products are available in all states. Exclusions, limitations and reductions may apply. This Web site briefly highlights Farm Bureau's insurance policies and their benefits. The contract is contained only in the policy. Farm Bureau products are offered by Farm Bureau agents -- for more information about any Farm Bureau product, please contact your local agent or nearest office using the Agent Locator.

Life insurance and annuity products offered through Farm Bureau Life Insurance Company+/West Des Moines, IA

Securities and services offered through registered representatives of EquiTrust Marketing Services, LLC,+ 5400 University Ave., West Des Moines, IA 50266, 877/860-2904, Member SIPC

+Affiliated, and company of Farm Bureau Financial Services

Products offered through the companies of Farm Bureau Financial Services are not available in all states.