What types of life insurance policies are available?

Farm Bureau Financial Services offers a variety of life insurance policies designed to meet different needs and preferences. One of the primary types is term life insurance, which provides coverage for a specific period, typically ranging from ten to thirty years. This type of policy is often chosen by individuals looking for affordable premiums and straightforward coverage that will provide financial protection for their loved ones in the event of their passing during the term. If the insured individual dies within this time frame, the beneficiaries receive the death benefit. However, if the term ends and the insured is still living, the policy does not provide any payout. Another significant type of policy is whole life insurance, which offers lifelong coverage and includes a savings component known as cash value. As premiums are paid, a portion goes towards building this cash value, which the policyholder can borrow against or withdraw in the future. Whole life policies tend to have higher premiums compared to term life insurance, but they provide guaranteed death benefits and stable growth of cash value over time. Additionally, Farm Bureau Financial Services provides universal life insurance, which combines flexible premium payments with adjustable death benefits. This flexibility allows policyholders to tailor the policy to their changing circumstances and financial goals. For those considering life insurance, it is suggested to explore the options available by visiting the relevant web page. This can provide more specific details and insights related to the individual coverage that may be needed.