Keep Your Family and Your Work Family Protected
Whether it’s about protecting your loved ones or the business you’ve built with your own hands, Farm Bureau’s life insurance policy can give you peace of mind if something were to happen to you.
Level Term Coverage
With a level term policy, you can protect your mortgage, fund your buy-sell agreement and provide collateral for your loan. These policies allow you to pay a set premium that will not increase until your term duration is complete. These policies may allow you to convert to a permanent policy without underwriting.
Whole Life Coverage & Index Universal Life
Receive guaranteed coverages as long as you live. If you pay your premium (and any outstanding loan interest), we guarantee a death benefit even if you live to be 120. If you want to stop payments, you can use the reduced paid-up feature and secure a guaranteed death benefit.
MYGA Annuity
Annuities are one of the only retirement vehicles that you can create an income stream that you cannot outlive. Interest earned in annuity is tax deferred until withdrawn, allowing your interest to compound. In addition, an Internal Revenue Service (IRS) form 1099-R isn’t generated until you take a distribution. The FB MYGA offers a guaranteed, fixed minimum interest rate ensuring your contract will continue to accumulate interest. FB MYGA has no load fees, no annual fees and no annual administrative charges. Interest rates are fixed for the entirety of your guarantee period, are easy to understand, and make your retirement more financially secure and manageable.
A.M. Best Company Ratings Report
A.M. Best, the oldest and most respected rating agency in the world, rated Farm Bureau Mutual Insurance Company of Michigan, Farm Bureau General Insurance Company of Michigan, and Great Lakes Agribusiness Insurance Company at an A- (Excellent) rating with a stable outlook.
A.M. Best also reported that Farm Bureau Life Insurance Company of Michigan, and Cincinnati Equitable Life Insurance Company were reaffirmed at an A (Excellent) rating with a stable outlook.
These latest ratings by A.M. Best represent their current and independent evaluation of our companies’ financial strength. A.M. Best is the oldest and most widely recognized provider of financial data, ratings, and news exclusive to the insurance industry. The agency’s annual credit ratings are recognized as a benchmark for assessing an organization's financial strength as well as the credit quality of its obligations. These ratings are issued on approximately 3,500 companies spanning 90 countries.
The annual reports involve an in-depth review process that takes several months. As part of the process, Farm Bureau Insurance submitted detailed information related to its financial outlook, corporate governance, structure, risk management, and more.