Why might I need life insurance?

Here are some factors to consider as you discuss options with your Farmers^® agent and choose the life insurance coverage you want:

• Income replacement: Helping to replace your income can be an important benefit of life insurance to your family. The mortgage still needs to be paid. Utility bills and taxes will come due. And your kids might be heading off to college.
• Changes in your life: Major life changes — getting married, having kids or buying a house — often bring new financial responsibilities. These events can be a good time to think about buying a life insurance policy or increasing your coverage.
• Retirement income: While the main purpose of life insurance is to provide financial support to your beneficiaries, permanent life insurance may build cash value that can also help supplement your retirement².
• Legacy planning: Whether you want to leave wealth to heirs or support causes you care about, Farmers offers insurance products that allow you to control how assets are managed and distributed following your death.
• Business operations: What would happen to your small business without you? Farmers life insurance may help while business partners or heirs adjust to the loss and map out your company’s future.

When might I need life insurance?

Depending on your stage in life, there are likely reasons to consider life insurance. Here are some examples:

• Single adults: Life insurance can be a good idea even when you don’t have dependents. There’s a good chance you support people in your life — whether financially or with your time. Proceeds can also help with final expenses. And it may be less expensive to buy a policy when you’re young and healthy.
• Young married adults: Even if you don’t have children, your spouse could be left as the sole provider for your household. Perhaps you take care of aging parents. Because you’re still young, it may be easier to qualify for life insurance at affordable rates (depending on your health history).
• Married adults with children: You might think of life insurance as a necessity when you have small children. But you may also want to consider coverage for both a primary earner and a stay-at-home parent — they both provide essential services to a family.
• Single adult parents: You might be the sole source of income and care for your children. Life insurance proceeds can help provide financial assistance if the unexpected happens.
• Empty nesters and retirees: Your children may be financially independent, but have you considered the ongoing expenses of a surviving spouse? Income and pensions may be reduced, and there might be mortgages or other debts. Life insurance may help prevent a personal loss from becoming a financial loss as well.

How much life insurance do I need?

How much life insurance you decide that you need depends on a variety of personal factors — like your income, savings and debts. The Farmers life insurance calculator can help you estimate how much coverage you may want to consider.

Contact your Farmers agent for a complimentary review that can help you determine how much coverage you want.

Why should I choose Farmers Life^®?

For more than 100 years, customers have turned to Farmers Life to help them plan for things like the financial future of their loved ones, the continuity of their businesses or the stability of their retirement incomes.

With Farmers, you can conveniently manage your insurance in one place with one agent. Your Farmers agent offers a free needs-analysis service, based on your input, that can simplify the process and educate you so you can select the life insurance coverage you want.

Farmers Life has life insurance options that may suit different needs and budgets through various stages of life, along with potential discounts³ that could help save money. Whether you’re ready to buy a policy or simply want a quote, a local Farmers agent can help.

² Policy loans and partial surrenders 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 surrenders may be subject to taxes and penalties.

³ Discounts available on selected life insurance products and may not be available in all states. Contact your agent to see if you qualify for the discount.

All product guarantees are subject to the financial strength and claims-paying ability of Farmers New World Life Insurance Company, who is solely responsible for the obligations under its own policies.

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