Whole Life Insurance

Whole life insurance¹ is a type of permanent life insurance – that can insure you for a lifetime². Premiums are typically level and guaranteed for the life of the policy.

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Whole Life Policies

Whole life insurance is a common type of permanent life insurance offered by Farmers New World Life Insurance Company. Whole life insurance combines level premiums with guaranteed death benefits.3

In addition, whole life insurance policies have guaranteed cash values which may be used by the policy owner to help support a variety of financial goals4 and they may produce excess credits which may be used to purchase additional paid-up life insurance, potentially increasing the available death benefit.

Whole life policies may also offer generally income tax-free5 loans and death benefits.6

Farmers EssentialLife®
Simple Whole Life7

Farmers EssentialLife® Simple Whole Life is a whole life insurance policy combining the traditional guarantees of whole life with optional riders (available at additional charge), potential to earn excess credits, and a discount8 for customers with other Farmers insurance policies.

Farmers EssentialLife Simple Whole Life features guaranteed level premiums payable to age 100 and guaranteed cash values. Unlike universal life insurance policies, the cash value, premium requirements, and death benefit of Farmers Simple Whole Life policy do not vary based on prevailing interest rates or market performance. It may be an ideal product for customers seeking more certainty.


  • Automated underwriting
  • Discounts available for customers owning other Farmers policies
  • Underwriting decisions possible in minutes after completing the application with your local agent

Farmers Graded Death
Benefit Whole Life9

To help prepare for life's unexpected expenses, Graded Benefit Whole Life is a life insurance policy for those who want permanent insurance coverage with guaranteed cash values and guaranteed level premiums with a lower face amount. With a simplified underwriting process, the Graded Benefit Whole Life policy could offer individuals who may not qualify for other types of life insurance an opportunity to obtain permanent whole life coverage.


  • No medical exam, just three simple health questions to determine eligibility
  • Guaranteed cash value accumulation
  • Guaranteed death benefit. Limited death benefit during the first two policy years

Farmers Premier
Whole Life10

For level insurance coverage throughout the life of the insured, Farmers Premier Whole Life features guaranteed level premiums and guaranteed cash values.


  • A wide range of face amounts for many financial needs
  • Guaranteed cash value accumulation
  • Option to add several riders and benefits, available at an additional charge

Contact a Farmers agent to learn more about whole life insurance.

2 Lifetime (or life of the policy) coverage is guaranteed provided premiums are paid per terms of the contract.

3 The death benefit is guaranteed according to the terms of the contract and provided that premiums are paid.

4 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.

5 Distributions from a life insurance policy in the character of partial surrenders (withdrawals) up to basis or policy loans will generally be income tax free, provided the policy does not violate Modified Endowment Contract (MEC) guidelines and the policy is not terminated during the lifetime of the insured. MEC guidelines are rules in the Internal Revenue Code which specify maximum premiums that can be paid without triggering adverse tax consequences for withdrawals. A policy termination during the life of the insured can cause the owner a single taxable event for any gains in the policy that were borrowed or withdrawn on or before the termination date.

6 For informational purposes only. 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. 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.

7 Farmers EssentialLife Simple Whole Life, policy form 2008-352.

8 Qualifying Farmers customers may receive up to a 6% discount on the base premium rate per thousand. Contact your agent for more details.

9 Farmers Graded Death Benefit Whole Life Insurance policy form number ICC17-FGDB or applicable state variation. Limited death benefit during the first two policy years.

10 Farmers Premier Whole Life (Farmers Premier Endowment at age 100 in IN and PA). Policy form 1995-112 or applicable state variation. Certain riders and benefits are not available after issue.


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