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What is Universal Life Insurance?

As your life changes — marriage, parenthood, promotions, retirement — your insurance needs may change as well. To adapt to your ever changing life, and continue to meet your insurance needs, there’s universal life insurance.

Universal life is a variation of permanent life insurance that offers a wide variety of advantages. Like most permanent life insurance policies, Farmers New World Life Insurance Company's universal life options offer lifelong coverage, as long as all premiums are paid to keep the policy in force. However, universal life insurance also offers a considerable amount of flexibility and benefits to the policyholder, like:

  • Flexible premiums and frequency of payments.
  • Adjustable benefits and coverage levels.
  • Potential cash value accumulation over time.

Types of Universal Life Insurance Policies

To help you find the permanent life insurance policy to fit your coverage needs and financial planning strategies, Farmers offers these universal life options:

Farmers EssentialLife® Universal Life

With flexible premiums and death benefits, Farmers EssentialLife Universal Life lets you decide when and how much to pay toward your insurance policy: you specify the timing of your payments and the amount of coverage you need, which can be increased (with evidence of insurability) or decreased within policy limits.

Farmers Index Universal Life®

Farmers Index Universal Life offers a balance of permanent life insurance coverage with the opportunity for cash value growth. The index-linked feature provides the potential for greater cash value accumulation than traditional universal life insurance and the guaranteed floor means less risk than variable universal life insurance.

Contact a Farmers agent to get started.



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