Single Premium, No-Exam Life Insurance1 Allows You to Leave Your Legacy
Passing along your family traditions is one way to leave your mark on the world and to provide a legacy for the future. With Traditions Universal Life insurance, you can maximize the legacy you plan to share with loved ones or your favorite charity while protecting assets from taxation.
A Traditions Universal Life insurance policy can help protect the funds you’ve already set aside for loved ones or your favorite charity. And, in addition to the tax advantages, it provides access to the cash value should you ever need it. Find a Farm Bureau agent now to get started today – it’s simple to obtain and requires no medical exam.1
Guaranteed2 protection with no exam – This no-exam life insurance policy provides life insurance protection that remains the same throughout your lifetime, assuming no policy loans, partial withdrawals or accelerated benefit payments are taken.
Leave a legacy with tax-free life insurance benefits – Upon your death, individuals you specify may receive life insurance benefits from the policy income tax-free. These benefits are paid directly to your beneficiaries; which can potentially save thousands of dollars and months of waiting for funds.
Immediate cash-value life insurance – You can make a single premium payment of $10,000 or more. Your lump-sum payment is guaranteed to provide a higher death benefit value than the premium paid, immediately. Your policy accumulates value in a cash-value account on a tax-deferred basis, and you have access to your money through partial withdrawals3 and loans4. Policy loans are available with an adjustable interest rate. As a single premium life insurance policy, Traditions Universal Life will generally be considered a modified endowment contract (MEC), and loans from the policy may be treated as taxable income.
Additional protection – At no additional charge, your policy includes a living benefit should you become terminally ill:
Living Benefit5 – If a qualifying terminal illness occurs, you can receive money by utilizing a portion of your policy's death benefit.
Waiver of Surrender Charges – You may take a partial withdrawal or full surrender without incurring a surrender charge if you experience a total disability under age 65, terminal illness, chronic illness or confinement to a nursing home for 90 consecutive days after the first policy year.
A local Farm Bureau agent has the knowledge and experience to make insurance simple for you. For a free, no-obligation life insurance quote or more information, find a Farm Bureau agent now.
1No medical exam is required; however your prescription profile, motor vehicle report and MIB will be requested and reviewed by the Company prior to underwriting your policy.
2The guarantees expressed here are based on the claims-paying ability of Farm Bureau Life Insurance Company.
3During the first 10 years, full surrenders are subject to a surrender charge. Surrender charges may be waived if eligibility can be established due to the insured's terminal illness, total disability or stay in a qualified nursing care center for 90 consecutive days (after the first policy year). Partial withdrawals will reduce the specified amount.
4Any loans from the policy’s accumulated value will reduce the policy’s accumulated value and death benefit if the borrowed funds, plus interest, are not repaid by the time of your death. If your life insurance policy is classified as a Modified Endowment Contract (MEC), distributions, including loans, may be considered taxable income and thus taxed less favorably than non-MEC policies.
5The Living Benefit Rider is known as the Accelerated Benefit Rider in some states.
Not all features may be available in all states. For costs and complete details of the coverage, contact your Farm Bureau agent. Neither the Company nor its agents give tax, accounting or legal advice. Consult your professional adviser in these areas.