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What is Value Term Life Insurance?
Farmers Value Term provides affordable life insurance coverage with premiums that are guaranteed not to increase for 10, 20, or 30 years.
Farmers Value Term Life insurance1,2 offered by Farmers New World Life Insurance Company may be a cost-effective solution when you need enough coverage to help protect your family against loss of income if you are no longer with them. Value Term Life insurance is also convertible to lifelong coverage (as defined in your policy contract) which may accumulate cash value.
- Guaranteed level death benefit3
- Guaranteed level premiums4
- Convertible to lifelong5 coverage that builds cash value regardless of health
- Coverage starting at $150,000
How Value Term Life insurance can help you:
Protect your family financially
Farmers Value Term life insurance proceeds can help protect your family from financial hardship when dealing with loss, and are generally income-tax free.6
Provide coverage for short-term obligations
Farmers Value Term is intended to help cover obligations that end, such as mortgages, car loans, and college tuition.
Cover personal debt and final expenses
Even if you don’t have children, you should have enough life insurance to help cover the costs of personal debts, lost income, medical bills, and final expenses.
Value Term Life Insurance FAQs
Why should I consider Value Term Life?
Farmers Value Term may be a cost-effective solution when you need enough coverage to help protect your family against loss of income if you are no longer with them. Farmers Value Term is also convertible to lifelong coverage which may accumulate cash value.
What happens after my initial policy term?
After the guaranteed level term period, the premium increases annually. You may be able to convert to a whole life policy which also features level premiums as well as lifelong protection -- as long as you convert before your term period expires.
2 Policy form 2000-228, 2000-230, 2002-226 or applicable state variation.
3 The death benefit is guaranteed according to the terms of the contract and provided that premiums are paid.
4 Premiums are subject to change after the initial term period.
5 Lifelong coverage is guaranteed as long as all premiums are paid to keep the policy in force.
6 For informational purposes only. Neither Farmers New World Life Insurance Company, its employees nor its Agents provide legal or tax advice. Always consult your own attorney, accountant or tax adviser as to the legal, financial or tax consequences and advice on any particular transaction.