Life Insurance for Small Business

Life insurance can do more than help your business recover from the death  of a key employee. It can also play a critical role in your compensation plan — helping you recruit, retain and reward your employees.

As small business owners themselves, Farmers® agents understand that you have needs. They can introduce you to  a variety of life insurance options as you make a decision about the coverage you want.

Here are some typical risks — and options that can help you manage them:


You find an ideal candidate for your open CFO position — but she accepts an offer with a more attractive compensation package from a competitor.  


Executive bonus plans that include life insurance or annuities can help you create compelling job offers for top talent.


The manager who oversees your company’s day-to-day operations is unable to work as a result of a covered event.


Key person insurance can help if a business partner or top employee dies or becomes disabled — the policy’s benefit or cash1 value can be used for candidate searches, training expenses and lost income.


You know your family would be burdened by business debt if you passed away before completing ambitious expansion plans that rely on large loans.


Life insurance proceeds can help liquidate outstanding business debt and help protect your family’s personal assets.


When your business partner dies unexpectedly, her husband wants to sell their portion of the business.


A funded buy-sell agreement can help with a smooth settlement between the owners of a company and their heirs.

To see if Farmers life insurance is available in your area contact your local Farmers agent today.2

Some popular business insurance options

Life coverage is just one component in a full menu of business insurance options available from Farmers. Your agent can also discuss coverage for other possible risks like:

Risk: Coverage:

A customer visiting your office is injured when she trips on a step in the hallway. 


Business liability insurance can help with associated medical and legal costs, and damages resulting from lawsuits.


You lose your ability to generate business income while your shop is closed to repair fire damage.


Business property insurance can help when a covered event interrupts your company’s income.


A hacker gains access to your computer system and steals customers’ credit card information.


Cyber liability and data breach response insurance can help with investigation, reputation management, contacting customers and more.

Farmers works to build strong customer relationships

Farmers has spent 90 years putting customers first. Are you shopping for coverage, or do you have a question about your policy? Maybe you’re ready to get a business life quote. Be sure to let a Farmers agent deliver personalized service and support.

You’ll experience a similar level of care from our knowledgeable claims representatives, who will provide assistance as quickly as possible.

To learn more about what Farmers can do for your business, call an agent today.

Benefits to recruit and reward employees.

Talk to a Farmers® agent about life insurance options for your business.

Find a Farmers agent

¹ Policy 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.

² Farmers currently offers life insurance in AL; AZ; AR; CA; CO; GA; ID; IL; IN; IA; KS; MD; MI; MN; MO; MT; NE; NV; NJ; NM; ND; OH; OK; OR; PA; SD; TN; TX; UT; VA; WA; WI; WY

This material is for general informational purposes only and is not legal or tax advice. 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. The material may not reflect your particular circumstances. Neither Farmers Insurance nor any of its agents, employees, or registered representatives is authorized to provide tax or legal advice. Please consult your tax or legal advisors for advice specific to your situation. Carefully read the contract prior to purchasing any life insurance or annuities. This material presents our general understanding of current law, as tax laws and IRS administrative positions may change. This material is not intended to, and cannot be used to avoid any Internal Revenue Service penalties.

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