Southern Farm

Farm Bureau Insurance offers its customers insurance policies and financial planning. These include: permanent life, term life, other insurance, auto, homeowners, retirement planning, estate planning, and business planning. Some product descriptions include:

1) Whole Life: Whole life insurance is the most common type of permanent insurance. The policy provides a guaranteed death benefit along with guaranteed cash values. Part of each premium payment is applied to the policy's cash value account, which grows on a tax-deferred basis.

2) Term Life: Term Life Insurance: Term life policies pay only a death benefit and build no cash values. The coverage lasts only as long as the policy stipulates (e.g., 5, 10, 15, or 20 years).

3) Disability Insurance: For employees who purchase an accident insurance policy, disability income riders are available for accident or accident/sickness disability at an additional cost.

4) IRAs: Both Traditional and Roth.

5) Flexible Premium Deferred Annuity (FPDA): An FPDA is a tax-deferred annuity that will accept multiple premium payments while the annuity is in an accumulation period. FPDA annuities may accept salary reduction payments, bank draft or pre-authorized check plan payments, transfers, rollovers, and single sum direct payments.

6) Single Premium Deferred Annuity (SPDA): An SPDA is a tax-deferred annuity that will only accept a single payment. This payment may be from writing a check directly to the company or through a transfer or rollover. Single Premium Deferred Annuities may be purchased with qualified or non-qualified monies.

7) Single Premium Immediate Annuity: These policies allow clients to immediately convert a lump sum of money into a guaranteed payout for as long as they live. Guaranteed payouts are also available for a certain number of years.