Idaho Life Insurance
POLICY PLANNING & Coverage to Fit Your FamilyTake Control of Your Life Insurance in 3 Simple Steps
STEP 1: GET LIFE CALCULATED
The Life Calculated tool is our 30 second calculator that lets you easily get an estimate of how much Life Insurance you need. It’s a great place to start and you can do it right now. At the end, remember to send the results over to us!
Finished the Calculator? You’re already ahead of most of your friends and neighbors, but still don’t have any protection. We’ll review the results and be in touch. In the mean time, the next step is to schedule an appointment.
STEP 2: Let's Meet Up
Our approach is a little different. We get to know you, what you like, and what you’re looking for. We’ll tailor the results from Life Calculated and can sometimes bind temporary insurance at our appointment. We can also generate a preliminary estimate to help you think about your budget.
We schedule Idaho life insurance policy planning at our local offices or online to offer convenient scheduling options.
Leave the paperwork to us, we’ll wrap up the final questions on the forms and submit an application for you at our appointment.
STEP 3: PUT ALL OF THE OPTIONS ON THE TABLE
ENJOY PEACE OF MIND!
Idaho Life Insurance Policy Planning
Find Annuities and coverage offered Exclusively through Farm Bureau Financial Services.
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Farm Succession planning
Succession planning for farmers and ranchers is important, but it’s also complicated. Land, equipment, equity, your own retirement — how do you even begin to think about handing your business over to the next generation? First, you need a trusted team of professionals, including your insurance agent. Then, you need to start the succession planning process as soon as possible.
Should You Buy an Annuity?
When you’re thinking about your retirement plan, you may want to consider adding one or more annuities to your portfolio. Annuities are tax-deferred insurance contracts; you invest either a single lump sum or a series of small amounts with a life insurance company. In exchange, you will earn interest on that money during the accumulation phase and will receive payments to either you or your beneficiary during the distribution phase.
Long Term Disability
Long Term Disability Insurance isn’t an optional coverage — it’s essential. After sustaining a disability, this important coverage can pay for expenses to help keep your business running and help sustain your way of life. When loss of income hits because of an accident, families are often times forced to refinance their homes, property or autos at today’s interest rates. When you’re looking at Life Insurance, we can submit an application for long term disability at the same time.
Frequently Asked Questions
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I have life insurance through work, isn't that enough?
Life insurance through and employee group plan may be inexpensive, but it’s worth taking a look at a policy that you own.
Often times when an employee leaves a job, they find out that their life insurance can’t be transferred to an individual policy or they simply forget. This leaves the individual subject to the rates at their current age or at their current health status.
Life insurance at work often times caps out at low amounts, so you may not be able to purchase as much as you need.
How long does it take to get a life insurance quote?
With a few key pieces of information we can get a quote to you quickly. A life insurance estimate generally only takes a few minutes to generate, but finding the right policy type takes some time. That’s why we take a consultative approach and take the time to help you find a policy you will be happy with. Our recommendation is to start with Life Calculated and we can adjust from there.
How much will it cost?
The cost of life insurance depends on your age, your health and what size death benefit you want. The younger and healthier you are, the lower your premium will be. While everyone’s financial situation is different, consider these facts from the 2022 Insurance Barometer Study:
1 in 10 people with life insurance say they feel they need more life insurance protection.
1 in 3 people without life insurance say they are more likely to buy because of the pandemic.
44% of families would face financial hardship within 6 months, and 25% would suffer financially within a month.
43% of millennials overestimate the true cost of life insurance by over six times the actual amount.
What types of life insurance are available?
Farm Bureau offers various types of life insurance, including term and permanent life insurance. Each serves as protection for your loved ones but differs in price and coverage characteristics. Some of our plans are a hybrid of more than one type of life insurance, which is why we take a consultative approach to find the mixture that will work for you.
Term life insurance provides protection for a specific period of time, hence the name “term.” Term life insurance is purchased for 10, 15, 20 or 30 years. It’s designed for temporary circumstances and makes the most sense when your need for coverage will disappear, possibly when your children graduate from college. It’s generally less expensive than whole life insurance, making it a popular choice for individuals and families in the prime of their life.
Permanent life insurance offers lifelong protection, which can accumulate cash value on a tax-deferred basis. The cash value can be used for multiple purposes if you get in a tough spot. The one downside to permanent life insurance is that initial premiums are often higher than what you would pay for a term policy with the same amount. There are two types of permanent life insurance: whole life or universal life insurance.
Whole life insurance premiums remain the same for life, and the death benefit and rate of return on your cash values are guaranteed. With universal life insurance, you can seek potentially better returns by allocating your fixed premiums among investment sub-accounts, typically comprising stocks and bonds.
Universal life insurance offers the flexibility of varying the amount of your premium payments, as well as seeing other tax benefits. With universal life insurance, your cash value can grow in one of three ways depending on the type of policy. In a universal life policy, the cash value grows in a fixed interest rate account. In a variable universal life policy, the cash value grows in mutual fund like subaccounts. And lastly in an indexed universal life policy, the cash value growth is linked to the upside of a stock market index but is protected from losses typically associated with the stock market.
Quarterly – the least recommended option- you get a bill every 3 months and can pay online, in the office, or with the app. Accepted payment methods are Credit card (Visa or Master Card), EFT from a bank account, or check.
Semi-Annually – a good way to pay. This provides a good reminder to look over your policy twice per year. Accepted payment methods are Credit card (Visa or Master Card), EFT from a bank account, or check.
Annually – a great way to pay. 1 payment and forget it for a whole year. Farm Bureau doesn’t charge fees for using a credit card, so if you get cash back or points, this is a great option.
Are there health exams?
Life insurance companies often require medical exams to qualify applicants for coverage. We work hard to set this up for you and fit it into your schedule to make it as easy as possible.
The good news is that, if you’re healthy, we can usually offer a $500,000 policy without a medical exam.
Since the underwriting requirements for Long Term Disability requirements are similar, we can book any health related exams simultaneously. It’s one of the ways we save you time and money.
It also helps that your agent can submit a claim for you to help expedite the process.
Many of our clients who have had to work with other insurance companies comment on how much faster their claim was taken care of at Farm Bureau.
Life insurance that fits you
Idaho’s life Insurance Experts