- Group Term Life and Group Term Life & Disability Insurance provide an initial amount of life insurance.
- This coverage protects your family and farm business from the financial burden of your loan in the event of premature death or disability.
- Premiums can be locked in for 5, 10, 15, 20 or 30 years.
How much life insurance do you need?
Everyone’s situation is unique and it is difficult to determine the exact amount needed, but this worksheet can be used as a general guideline. The needs assessment provides an estimate of the amount of insurance a family would need to maintain its current lifestyle if the income of the primary or one of the primary wage earners was no longer available.
Level Term Life Insurance
These products are designed to complement our Group Life Insurance program by providing a choice of competitively priced plans, specifically designed for those customers having larger loan balances. It differs from Group Life Insurance in the level of underwriting and the insured’s ability to maintain coverage after the loan has been paid.
Life & Disability Income Insurance
Disability Income Insurance is available to both short-term and long-term borrowers. It provides coverage for sickness and accidental injury and includes a disability income benefit, as well as a waiver of premium.