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What Kind of Life Insurance Fits My Needs?You have more than one option when it comes to
choosing a Life insurance policy:
Term insurance and Permanent insurance.

Learn more

Term vs. Permanent Insurance

Term Life insurance provides coverage for a specific period of time and is usually less expensive than Permanent Life insurance. It provides the greatest amount of coverage for the lowest initial cost. With a Term Life insurance policy, your premiums will stay the same for a set amount of time.

Term Life insurance may be a good choice for your temporary needs, or if your funds are limited.

Permanent Life insurance is typically more expensive than Term Life insurance because premiums are guaranteed not to increase for the life of the policy and build cash value. This means the policy owner can borrow the cash value at interest, or if the policy is cancelled, the cash value is sent to the policy owner.

Permanent Life insurance, which includes Whole Life and Universal Life, may be a good option if you have long-term needs, like income for a spouse, "inheritance" for children, or end-of-life expenses.

Permanent Life insurance costs more initially but premiums on Whole Life are guaranteed never to increase as long as the policy remains in force and offers cash value accumulation. Universal Life policies offer flexibility to meet your changing needs and an accumulation account that is available if you need it.

It's often difficult to determine which Life insurance policy is the better option because the type of coverage that is right for you depends on your individual circumstances and financial goals. For many individuals, a combination of Term and Permanent Life insurance is the best solution.

Learn more about:

Term Life insurance
  • Affordable coverage
  • Temporary coverage for your personal or business needs
  • Renewable or convertible to permanent coverage

Learn more about Term Life insurance


Whole Life insurance
  • Good for young adults just beginning an insurance program
  • For families needing protection while saving for the future
  • Cash value of a whole life policy accumulates at a guaranteed interest rate

Learn more about Whole Life insurance

Universal Life insurance
  • Flexible coverage
  • Options for timing and method of premium payment
  • Tailor coverage to your personal needs

Learn more about Universal Life insurance


Choose a Farmers agent to help you find the right coverage for your individual circumstance.


Life insurance issued by Farmers New World Life Insurance Company, 3003 77th Ave SE, Mercer Island, WA 98040. Products and features may not be available in all states and may vary by state.

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