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For a long time out in the farms of America, Farm bureau had a virtual monopoly on providing life insurance. The risks associated with farming and how to calculate proper coverage was really only understood by underwriters of agricultural focused insurance carriers. Likewise, the only real agent that would visit a farm family, and who could relate to farmers, was a local person from the nearby farm bureau life insurance agency. But today, shopping for life insurance, there are plenty more options available to the average consumer, which is why we offer reviews of several companies such as Banner Life Insurance Review, Primerica Life Insurance, New York Life and AARP, to help you with your life insurance purchase decision. Many fear that they should not even look into life insurance rates due to their smoking habit, though this is not true, we can help find you a smokers term life insurance policy that will fit your needs. Along with smoking, do not allow poor health to hinder you either, we work with companies who offer a no medical exam life insurance policy that could work best for your needs.
Today, even for the farmer, times have changed. In their high-tech combines, farmers listen to agricultural reports online with their GPS’s guiding them during farm operations. Cell phone apps let them make on site calculations as to profitability based on international agricultural trends. The result is that farmers are savvy business persons focused on making the bottom line of their agricultural operations as profitable as possible. Likewise, their understanding of risk transference has grown as they implement policies like crop insurance, weather coverage policies, and livestock protection plans. They have learned that the one stop and only solution to insurance needs is no longer just the local farm bureau office and the same applies when shopping for life insurance.
Farm Bureau life insurance is not the only player in the market: Larger life insurance carriers through their internet marketing operations now know that they are reaching into wider geographical circles which include America’s heartland where pickup trucks rule the road. By aggregating farm family members with their other clients, insurance carriers are diversifying risk and sophisticated enough to understand risks faced by farm operators and families. What that means for you the client, more options and much more affordability for life insurance.
Farm Bureau Life Insurance is overpriced: A quick review of farm bureau insurance on the internet indicates that most of the carriers are single state carriers, i.e., Illinois Farm Bureau, Michigan Farm Bureau, etc. or focused on a single geographical area, i.e. southern farm bureau. A geographical focused insurance carrier has a higher concentration of risks. These higher risks usually mean more expenses and thus more expensive premiums for the client. The state farm bureau captive agents usually relied on the fact that if they had the home, auto, and farm operation coverage, farm clients just gave the rest of the insurance business to the local agents because of the convenience of dealing with one agency.
Farmers are frugal and so am I, are you? Farm Bureau Life Insurance might seem like a good deal especially if you do business with them already, plus the convenience factor of one bill, but pricing is important to everyone. Farmers deal in very competitive markets, and are shopping for the best coverage just like the average joe. Also many have seen tremendous inflation in their lifetimes so that they want high value coverage’s because estate issues on family farms are vexing. A farmer cannot just look at paying off the mortgage on a single family home. Quite often family farms are passed on from the older generation to the younger with loan obligations for tax reasons. If for any reason, the young farmer dies, there may be multimillion dollar debts involved, completely surpassing the usual mortgage and estate requirements of a young family living in the suburbs.
If you are looking for life insurance from Farm Bureau do your research: With the internet available to all, its easy to compare and shop rates for the best deal on life insurance. There are so many financially strong life insurance companies like Met Life, Prudential, Pacific Life, and so many more you are only hurting yourself and your wallet by not comparing rates today.