AllLife provides whole life insurance protection that remains the same throughout your lifetime, provided premium payments are current. AllLife insurance offers you:
Payment options ― you can pay your premiums in one of four ways:
Single Premium AllLife — A single premium payment is made when the policy is issued and no additional premiums are due.
10-Pay AllLife — premium payments remain the same for just 10 years, at which time no additional premiums are due.
Paid Up at 65 AllLife — premium payments remain the same to age 65, at which time no additional premiums are due.
Paid Up at 100 AllLife — premium payments remain the same to age 100, at which time no additional premiums are due.
Tax-deferred growth ― your policy accumulates value on a tax-deferred basis. If needed, you may use the money in your policy’s cash value account1 as a loan.
Dividends2 ― a portion of the premiums may be returned to you as dividends. You can use dividends to reduce annual premium payments3, to purchase additional life insurance, to earn competitive interest within your policy or to receive a cash payment.
Financial protection for others ― upon your death, your beneficiaries may receive benefits from the policy income tax-free.
Income options ― upon your death, the policy’s proceeds can be paid to your loved ones or business partners as a lump sum or through guaranteed4 income payment options. Or, while you are living, the money in your policy’s cash value account may be paid to you if the insurance protection is no longer needed for the future.
No-cost Living Benefit5 coverage ― allows the policy owner to receive money by using a portion of the policy’s death benefit if the insured is diagnosed with a qualifying terminal illness.
Optional protection available at an additional cost:
Children’s Term Life Insurance Rider provides term life insurance for each of your qualifying children, age 7 days to 23 years.
Choice Term Life Insurance Rider provides term life insurance for you or another person. If you purchase this rider, it may be converted to permanent life insurance prior to age 75. If this rider is purchased for another person, it may be converted within 60 days after your death if the other person is still alive. Conversion credit may be available.6 This rider is not available on the Single Premium AllLife policy.
Guaranteed Purchase Option Rider allows you to periodically purchase additional life insurance up to the amount stated in the policy without a medical review.
Paid-up Additions Rider allows you to periodically purchase additional life insurance with either a single premium or ongoing premium payments. This insurance accumulates a cash value account, which grows tax-deferred and may have dividends. You may borrow against this cash value account1. This rider is not available on the Single Premium AllLife policy.
Payor Death or Disability Rider waives premiums on policies issued on children age 0 to 17 years until the child turns 23, if the payor of the policy premiums dies before age 65 or becomes totally disabled for more than 90 consecutive days before age 65. This rider is not available on the Single Premium AllLife policy.
Waiver of Premium Rider waives premiums for the duration of a total disability you experience for 90 or more consecutive days. Unless benefits are being paid under this rider, this protection ceases on the policy anniversary of the year you turn age 65 or at the end of your premium-paying period, if earlier. This rider is not available on the Single Premium AllLife policy.
Daily Living Rider7 accelerates a portion of your policy death benefit if the insured has been chronically ill8 for 90 days and is expected to be for another 90 days or longer. The maximum policy rider amount is $250,000 for all life policies with this rider combined, not to exceed the death benefit of the policies. This rider is available at issue only, and the benefit may only be elected once during the life of the policy. Any benefit paid from the rider will reduce the death benefit payable on the policy.
As a policy owner, you will receive an annual report listing your policy transactions, current cash value, amount of premium payments and charges deducted, well as a record of any policy loans or withdrawals.
The AllLife policy from Farm Bureau can be an important component to your financial foundation at any age. Find a Farm Bureau agent now.
1 Any loans from the policy’s cash value will reduce the policy’s cash value and death benefit if the borrowed funds, plus interest, are not repaid by the time of your death. Further, if your life insurance policy is classified as a Modified Endowment Contract (MEC), distributions, including loans, may be taxed less favorably than non-MEC policies.
2 Dividends are not guaranteed and are based on current Company experience, which can vary from year to year.
3 A reduction in premium payments is not available with the Single Premium AllLife product.
4 The guarantees expressed on this Web page are based on the claims-paying ability of Farm Bureau Life Insurance Company.
5 The Living Benefit Rider is known as the Accelerated Benefit Rider in some states.
6 The conversion credit is available under current Company practice, which is not guaranteed and is subject to change at any time.
7 The Daily Living Rider is not to be purchased as a long-term care or health insurance policy, but can provide help with needs resulting in terminal or catastrophic illness. In most situations, canceling, reducing, surrendering or replacing a long-term care or health insurance policy for this rider would be considered unsuitable.
8 A chronically ill individual means any individual who has been certified by a licensed health-care practitioner as being unable to perform (without substantial assistance from another individual) at least two activities of daily living for a period of 90 days due to a loss of functional capacity and/or requiring substantial supervision to protect such individual from threats to health and safety due to severe cognitive impairment. In Kansas, chronically ill individual must also be confined in an eligible institution.