Life Insurance
Protect your investment and plan for the future with solid life insurance with Farm Credit Services. FCS offers group life and term life insurance with the highest-rated, most competitive provides in the nation including Minnesota Life, Prudential, Banner Life, West Coast Life and more.
Why Buy Insurance?
- Replace income for your family's living expenses
- Payoff any debt or other obligations
- Cover final expense (funeral, medical, long-term care, etc.)
- College funding for your children, grandchildren and others
- Estate transfer and tax obligations
Group Life Insurance - convenient and easy!
Group life insurance provides you with coverage for your loans at Farm Credit in amounts up to $300,000. It helps your family meet the obligation of a loan in the event of the insured customer’s death. The group life options provide coverage for both short-term (1-10 years) and long-term (15-25 years) loans. Farm Credit group life insurance products offer the following benefits:
- Protection to cover the entire loan or a portion of it
- Coverage is reduced annually as your loan balance decreases
- Guaranteed renewable – as long as premiums are paid
- Available for co-signers including your spouse, business partner or anyone who would be personally liable for the loan
- Convenient, quick and easy application process
- Disability coverage is available on long-term policies (mortgages)
- Premiums based on age-at-issue – rates won’t go up
Term Life Insurance - for your individual needs!
To complement our group life insurance programs, Farm Credit offers even competitively priced term insurance plans for customers. You can obtain a quote from any of the top-rated life insurance companies so that you have the most competitive product on the market.
Term life insurance is an individual life policy and requires individual underwriting, including a medical exam and health history. It provides protection for a limited amount of time – 10, 15, 20, or even 30 years. The policy pays if the insured dies during the term selected.
Term life insurance provides a tax-free benefit to the beneficiary listed on the policy. With term life insurance, there aren’t many limits on the amount of insurance you can purchase – you can purchase $100,000 or $10 million in coverage, based on your needs and budget for the insurance. And, there are several additional benefits available with most products, such as:
Return of Premium - this rider provides the insured with 100 percent of the premium paid back at the end of the policy if the insured survives the term selected. This is a great investment tool for the younger generation. It does have a higher premium cost than the traditional term product.
Child Rider - For minimal additional cost, this rider provides coverage to ALL children under the age 17, and can be bought in $1000 units.
Convertibility options - This valuable feature allows you to convert your term policy to a permanent policy without having to prove insurability, which is a great option in the event of a life change such as failing health or need for coverage beyond the original terms.
We're happy to provide a free custom quote at no obligation. Just contact us and we’ll be happy to visit with you about your options.