In a nutshell, Life insurance comes in two flavors: Term insurance and Permanent insurance.
Term vs. Permanent Insurance
Term insurance provides coverage for a set period of time and is usually less expensive. It provides the greatest amount of coverage for the lowest initial cost. It's a good choice for your temporary needs or if your funds are limited.
Permanent insurance, which includes Whole Life and Universal Life, is useful when you want to cover a long-term need like income for a spouse, “inheritance” for children or end of life expenses. Permanent insurance costs more initially, but can accumulate cash value.
It's difficult to say exactly which kind of Life insurance is better because the type of coverage that's right for you all depends on your individual circumstances and financial goals. Often, a combination of Term and Permanent insurance is the right solution.
Term Life insurance
Affordable coverageTemporary coverage for your personal or business needsRenewable or convertible to permanent coverage
Whole Life insurance
Good for young adults just beginning an insurance programFor families needing protection while saving for the futureCash value of a whole life policy accumulates at a guaranteed interest rate
Universal Life Insurance
Flexible coverageOptions for timing and method of premium paymentTailor coverage to your personal needs
Life insurance issued by Farmers New World Life Insurance Company, 3003 77th Ave. SE, Mercer Island, WA 98040. Products and features may not be available in all states and may vary by state.FL-0402-13
Applicants with Credit or Loss ProblemsHaving a loss on your record doesn’t mean it’s impossible to get insurance. Farmers insurance also offers coverage to applicants with credit or loss issues, including applicants who have been declined, cancelled or non-renewed by another insurance company.
Flood insurance is a good buy, even in low or moderate risk areas, as nearly 25 percent of all flood insurance claims come from low-to moderate-risk areas.
**http://www.iii.org/media/facts/statsbyissue/flood/ **Although this statistic is from a reputable source, it comes from a third party website, and Farmers is not responsible or liable for information provided.
The average victim takes 175 hours to restore their lives after identity theft. In addition to insurance coverage, Farmers Identity Shield offers proactive monitoring tools, identity resolution services, travel assistance and document replacement, as well as preemptive education resources.
We'll insure your tenant-occupied dwelling, other structures and furnishings. Additionally, we offer a landlord package that includes coverage for personal property, loss of rents and landlord liability.
Mobile and Manufactured Homes
We insure a variety of home types. From mobile to manufactured, to multi-sectional to modular, and more, we can make sure that your home is protected.
Shield yourself from a number of troubles, such as being stranded without the shelter of an intact mobile residence. Save thousands of dollars with our Total Loss Replacement coverage option that lets you claim money for replacement parts at the original worth you paid, not the depreciated value after age and usage.
Personal Liability Coverage
Are you protected if someone is injured on your property, for example, by a dog bite that could necessitate reconstructive surgery? Personal Liability provides protection in such an instance. It also extends financial protection to you should you cause an accident to or on someone else's property.
Personal Property Coverage
Are your wedding bands or other valuables covered? What about your home entertainment system? Personal Property Coverage can make sure that these items and your personal belongings are protected.
Personal Umbrella Liability Coverage
A Personal Umbrella Policy serves to shelter you from exceeding the limits in your coverage.
This insurance combines coverage for your personal property with personal liability insurance, in the event that someone is injured on your property or you damage your neighbor’s property. Give yourself the peace of mind that your expensive electronics are safe at home.
In the event that the unexpected occurs, you’ll still have a home, and your personal belongings will also be covered.
Maybe the home you’re looking to insure is only seasonal or secondary for you. Or it might be more difficult to insure because of a variety of reasons, such as cosmetics, age, low value, or issues with applicant background, including credit issues and previous insurance declines. In all these instances, Farmers can still protect your home.
We offer a number of ways to customize your travel trailer insurance options, including comprehensive coverage, emergency express, stationary travel trailer, towing and roadside, emergency expenses, campsite/vacation liability, total loss replacement, and more.
Auto Rental Service
Farmers offers a network of pre-screened, nationally-known, rental car companies that will provide free pickup and delivery, direct billing to Farmers and an automatic deposit waiver (not available in all areas) while your vehicle is being repaired. Even in an accident at which you are at fault, Auto Rental Service provides service.
Bodily Injury Coverage
This insurance coverage has policy options that cover medical, legal, and property repair expenses for the injured party, whether it be you, your passengers, or the person you’re at fault for injuring.
What would happen if your business vehicle was stolen? What if an employee is injured while driving the company car? Business auto coverage usually includes both comprehensive and liability coverage to protect your vehicle against damages and to protect your business against liability losses.
You're on your way to the annual auto show, when someone rear-ends your classic 1957 Chevrolet. Fortunately, you had Collectible Auto insurance. The Collectible Auto Program has more features customized specifically for collectible car owners than a standard auto policy.
Whether it's icy roadways, a blind spot, or an uncontrolled intersection, Collision Coverage pays any amount more than your deductible to restore the damage done to your vehicle to factory new condition in the event of an accident.
While Collision Coverage is for accidents on the road, Comprehensive Auto insurance is for everything else that could damage your vehicle: fire, theft, floods, collision with an animal or bird, storms, riots, and earthquakes.
Fault or No-Fault Coverage
Who pays for the damage done to your vehicle? It actually depends. If you live in a no-fault state, your insurance will cover you. If you live in a fault state, the accident-causing party's insurance will cover you. To learn more about your states requirements are and how they affect you, please contact me at any time.
Glass Repair and Replacement
Enjoy convenient mobile response at your home, school, or wherever you are with 24/7 scheduling and a national lifetime warranty for as long as you own or lease a vehicle.
You never know when someone might get hurt in an accident. You could stand to lose a lot if you are at fault. Liability Coverage provides protection against financial loss.
Medical Payments Coverage
Under this insurance medical bills and funeral expenses are covered should you, or a passenger, be injured or killed in a vehicle accident. This coverage extends to you or a family member when riding as a passenger in someone else's vehicle or when struck by a vehicle when on foot.
It's time to get out on the open road. And, now more than ever, you may be likely to choose a home on four wheels rather than on a permanent foundation. It's important to make sure that you and your home have the right protection no matter where you are.
Optional/Add-on Equipment Coverage
For the insurance of enhancements you make to your vehicle, such as a TV screen, a DVD player, or a custom sound system.
Personal Injury Protection (PIP) Coverage
PIP covers a broader range of medical costs than standard Medical Payments coverage. It covers lost wages and the replacement of the services of someone injured in an automobile accident.
Property Damage Coverage
Covers your liability for damaging another person's personal property, such as a fence or home.
Safety Apparel Coverage
From your helmet and jacket to boots and gloves, this coverage can replace expensive riding apparel should they get damaged in an accident.
24/7 tow, lock out, jump start, flat tire changes, fuel delivery, and roadside winching for snow, mud, and ice. Just sign and drive, with no out-of-pocket payments.
Uninsured/Underinsured Motorist Coverage
On average 25% of drivers have no insurance and another 30% do not have enough insurance. Uninsured/Underinsured Motorist coverage provides liability coverage if an uninsured/underinsured motorist is at fault.