Protect your family and/or cosigners by ensuring your operation can continue and your financial obligations are met in the event of tragedy.
As a Farm Credit member, you have the opportunity to purchase term life insurance. Term life insurance is the most straightforward form of protection. Generally, you pay a premium on a monthly or annual basis, and your family is protected for the length of that term.
Term life insurance is typically used to cover your family's loss of income, short-term debts and needs, college tuition payments for your children, mortgage payments or funding for a spousal survivor benefit. Different plans with different renewal terms are offered at competitive rates. This way, you choose the product that meets your individual needs. Each policy is individually underwritten and the amount of coverage does not decrease.
If you’re like many business owners, you’ve probably insured your cars, trucks, boats, equipment or buildings, but not your most valuable asset – you, and your ability to run your business and produce income. A credit life insurance policy protects dependents (or loan cosigners) from the financial burden of outstanding debt. Credit life insurance pays off the policy owner's insured loans immediately and provides peace of mind.
If you need more information about life insurance, or want to apply, contact your local AgSouth branch.
If you come across a financial term you don't understand, you can visit our glossary to find the definition.