Question and Answer of the day

What happens to all of my assets if I die?
Life insurance death benefits are distributed to the named beneficiaries of the policy. However, for distribution of your assets, it's important to create a living will in order to tell the probate court judge who should receive your belongings. This also helps to speed-up the process; without a living will, probate could take an extended amount of time, and be significantly more expensive.

Life Insurance Coverage

Term Products
Term Life Insurance: The simplest form of Life coverage, term insurance is no more than a matter of premiums and a death benefit. The name fits since term insurance's span of coverage lasts only a specified period of time; if the insured dies while the policy is in force, the death benefit will be paid to the designated beneficiary.

Whole Life Products
Whole Life Insurance: Permanent form of Life coverage that is provided for the insured's lifetime. Whole Life policies 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.

Universal Life Products
Universal Life Insurance: Permanent form of Life coverage that offers a great deal of flexibility to the policy owner. 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.

Jeff said:

"Being among the top 10 percent of Farmers agents means I have the training, knowledge and customer service experience required to help you select the right coverage to meet your insurance needs."