Protect your family and yourself
Life insurance is crucial for securing the financial futures of those who depend on your income. Farmers Insurance Stockton specializes in working with individuals, families, and small businesses to help them select the right coverage.
Whether you're interested in term life, whole life, or universal life insurance, we can help you understand your options and achieve your goals.
Make an appointment to discuss your life insurance needs today.
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Why life insurance?
Mortgage Debt
To protect your home, a good alarm system isn't enough. A mortgage is the biggest debt you'll ever pay and a life insurance policy can help your family keep the home. Prepare financially for the future.
Children coverage
Raising a child is an expensive responsibility. Life insurance can help financially support your loved ones and ensure a tragedy doesn't become a financial burden.
Future Income
Who depends on your income today and in the future? Applying for life insurance could help you support loved ones and build a nest egg for your spouse or a loved one with special needs.
Life insurance coverage options
Terms Life
The simplest type of life insurance, and usually the least expensive to start.
- Provides coverage as long as you pay the premiums, typically up to age 90.
- Premiums guaranteed not to change for the first 10 to 30 years of the policy, then increase annually with age.
- Can be especially popular with younger families who need a lot of coverage but aren’t yet earning their peak incomes.
Whole Life
Whole life insurance is designed to last as long as you do.
- Coverage up to 121 years old as long as all required premiums are paid1.
- Premiums never increase, from the day your policy is issued to the day premiums are no longer required at age 100.
- Initial premiums are higher than term insurance, with funds accumulating within the policy as cash value.
- Whole life is the most conservative type of permanent life insurance, with guaranteed level premiums, guaranteed cash value accumulation, and a guaranteed death benefit2.
Universal Life
Like whole life, universal life insurance offers the potential of life-long coverage, to age 121. But it allows flexibility in the timing and amount of premiums3, and allows you to adjust the death benefit amount.
- You choose the amount of premium to pay, within contract limits. That payment goes into a separate account inside the policy, with the cost of the policy deducted from the account each month. Your policy stays in force as long as there’s enough value in the account to cover the deductions.
- You can build more cash value by paying more premium.
- When times are tough, you can reduce or even pause premium payments as long as there’s enough cash value to cover policy costs.
- 1. Lifetime coverage (or life of the policy) is guaranteed as long as all premiums are paid to keep the policy in force.
- 2. The death benefit is guaranteed according to the terms of the contract and provided that premiums are paid.
- 3. The cost to keep your policy in force will increase over time. This policy may lapse if you do not pay enough premiums to continue coverage.
ALCP09-20