The cash value of a whole life policy accumulates at a guaranteed interest rate, unlike a Universal Life policy, in which cash value builds based on a current interest rate that may fluctuate. The policy owner generally may borrow against the cash value during the insured's lifetime. Some Whole Life polices can produce excess credits, which you can use to purchase additional paid-up life insurance, increasing the available death benefit.
Farmers EssentialLife® Simple Whole Life is a modernized Whole Life insurance policy combining the traditional guarantees of Whole Life with flexible riders, Excess Credits, and a Farmers Customer Discount‡ for customers with other Farmers Insurance policies.
As a Whole Life policy, Farmers EssentialLife® Simple Whole Life features guaranteed level premiums, payable to age 100, and guaranteed cash values. As long as premiums are paid, the policy remains in force until the insured's attained age of 121, at which time the policy matures and the owner receives the cash value minus any accumulated loans and interest.
Unlike Universal or Variable Universal Life insurance policies, the cash value, premium requirements, and death benefit of the Farmers EssentialLife® Simple Whole policy do not vary based on prevailing interest rates or market performance. This makes it a suitable product for customers seeking maximum certainty in lifetime policy premiums and coverage.
The Farmers Graded Death Benefit Whole Life is a whole life policy for those who need permanent insurance coverage with cash values and guaranteed level premiums to help them prepare for life's unexpected expenses.
With simplified underwriting process, Farmers Graded Death Benefit Whole Life could offer highly rated otherwise uninsurable individuals an opportunity to obtain permanent whole life coverage.
Farmers Premier Whole Life and Farmers Premier Endowment at Age 100 for Indiana, provides level coverage for the life of the insured. The policy features guaranteed level premiums for the life of the policy and builds cash values.
Contact a Farmers agent to learn more about Whole Life insurance.
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.
¹ Policy Form 2008-352
² Policy Form numbers ICC11-2011-123, 2011-123 series. Farmers Graded Death Benefit Whole Life Insurance policy. Limited Death Benefit during the first two policy years.
³ Policy Form 1995-112 series
‡ Customers qualifying for the Farmers Customer Discount may receive up to a 6% discount on the base premium rate per thousand.