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| Home >> LIFE >> | WHOLE LIFE |
Whole Life Products
Whole Life Insurance: Permanent form of life coverage that is provided for the insured's lifetime. Whole life plans build cash value that the policy owner may borrow during the insured's lifetime, at a reasonable rate of interest. If there is an outstanding loan at the time of the insured's death, the death benefit is reduced by the loan amount.
Farmers Premier Whole Life
This contains the information related to Farmers Premier Whole Life (PWL) insurance product.
Farmers Fixed Premium Whole Life
This contains the information related to Farmers Fixed Premium Premier Whole Life (FPWL) insurance.
Universal Life Products
Universal Life Insurance: Permanent form of life coverage that offers a great deal of flexibility to the policyholder. Premium payments may be varied, death benefits may be changed, partial surrenders are allowed, and cash value may be accessed either through loans or direct withdrawals.
Premium payments are deposited to an accumulation account where mortality charges and administrative charges are deducted monthly. Any remaining amount in the accumulation account is credited with interest.
The flexibility of the plan allows for contributions in excess of regular premium that will substantially increase the cash value, the option to cease payments for a period of time, change death benefit options, and request partial surrenders (not applicable to Farmers Universal Life Plan, 033/133). Funds deposited to the accumulation account are subject to a surrender charge, if withdrawn for a period of time.
Farmers Premier Universal Life
This contains the information related to Farmers Premier Universal Life (FPUL) insurance.
Farmers Flexible Universal Life
This contains the information related to Farmers Flexible Universal Life (FFUL) insurance.
New Farmers Flexible Universal Life
This contains the information related to the new Farmers Flexible Universal Life (FFUL) insurance; changes to the products and affected states.
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