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Farmers Flexible Universal Life
The Farmers Flexible Universal Life Insurance policy offers you all of the advantages to meet a variety of your current and future life insurance cash accumulat Because of its unique flexibility, you can readily adjust your coverage as your circumstances change. Farmers Flexible Universal Life can provide:
Farmers Flexible Universal Life is designed to meet your changing needs during an entire lifetime. This simple, comprehensive, flexible life insurance policy can serve your insurance and cash accumulation needs throughout all your years. You can "program" Farmers Flexible Universal Life to meet your changing needs. Flexible Premiums Unlike many life insurance products, with Farmers Flexible Universal Life you decide when, and how much to pay toward your life insurance policy, within broad limits. Your coverage continues as long as the policy has sufficient cash accumulation to pay for the cost of insurance (including fees and insurance charges). Your first premium payment will start your policy and establish its Accumulation Account. The account (minus initial charges) immediately begins earning at a competitive interest rate. While the current rate is not guaranteed, the account is guaranteed to be credited interest at a minimum of 3%. After your Accumulation Account is set up, the cost of insurance is deducted from the account each month automatically. Flexible Benefits You specify the amount and type of insurance coverage you need, which can be increased or decreased, within limits. Increases are subject to proof of insurability or size-of-premium requirements. Increasing Death Benefit - Option A This coverage adds level pure insurance to the cash accumulation. In the event of your death, your beneficiary will receive the face amount of the coverage plus the balance of the Accumulation Account. The monthly amount deducted from the Accumulation Account is adjusted as necessary to continue to provide the insurance coverage you specified. To keep the benefit increasing, the Accumulation Account must be sufficiently funded. Full coverage is guaranteed for you and your family ... or your business ... as your financial responsibilities grow. Level Death Benefit - Option B You can specify that the total death benefit remains level. This coverage can maximize the cash value available for education, business enterprises, or retirement. Tax-Deferred Cash Accumulation The Accumulation Account belongs to you. It is the source of your cash values. You may surrender the policy for the entire cash value, or make partial surrenders for part of the cash value. A surrender charge is deducted during the first 9 years. Based on current tax laws, all interest credited to your account is tax-deferred. This means you are not taxed each year, but ONLY when you take cash out. And if you wait until retirement, you may be in a lower tax bracket. In addition, you may use part or all of the available cash value to secure a loan. Optional Coverages ... (Available at additional cost)
Outstanding Features
Farmers New World Life Insurance Company (FNWL) has a proud history stretching back to 1910, when the company started as New World Life Insurance Company. We are a member of Farmers Insurance group of companies, which included one of the largest insurers of autos and homes in the United States. For additional information, please contact Darius Vasquez.
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