Farmers Insurance Agent in Grand Junction, CO

Farmers® customers can protect their furry family member and save 5% with pet insurance from Pets Best.

What do you love about your life? You might be grateful for a partner who understands you better than anyone else. Maybe you delight in watching your children embrace their talents. Perhaps a recent promotion is giving you the chance to flex some leadership skills.

If all goes according to plan, you’ll pay off the mortgage, put your kids through college and enjoy a long retirement. But you know the unexpected could happen — do you want to help plan for your family’s future if they must go on without you? Life insurance may help lighten their financial burden.

Your Farmers® agent can show you a number of coverage options you can tailor to your priorities and budget. In fact, life insurance plans may be more affordable than you might think.

Types of Life Insurance
Farmers Life® offers three types of life insurance — and each has unique characteristics:

Term Life Insurance
Term life is a type of life insurance policy where premiums remain level for a specified period of time —generally for 10, 20 or 30 years. After the end of the level premium period, premiums will generally increase. Coverage continues as long as the premiums are paid. Perhaps this is an option you may want to consider when you’re on a more limited budget and will have significant expenses over a shorter period of time.

You can often pay a lower premium when you select a shorter term — say, 10 years instead of 20. But since premiums are based on risk of death, once you are outside of the level premium period, a term life policy generally gets more expensive as you grow older.

Whole Life Insurance
Whole life is permanent insurance — you’re insured throughout your lifetime, or until the policy matures, as long as you continue to pay your premiums per terms of the contract. And those premiums will stay level as long as the policy remains in force. Over time, permanent insurance typically accumulates a cash value that can be accessed1 for a variety of purposes while you’re still alive.

Universal Life Insurance
Like whole life, universal life is permanent insurance that may also accumulate a cash value. It offers more flexibility, though. You can tailor a policy to meet changing priorities with flexible premiums and face amounts. Universal life also offers you more control over how quickly your cash value grows.

What’s the best coverage for you?
When it comes to life insurance, there’s no such thing as “one size fits all.” Everyone has different needs, goals and financial considerations. That’s why coverage comes in a variety of forms, with a range of features you can tailor to your unique situation:

Your family is young and growing, so you may be juggling a mortgage, auto loans and childcare costs. While your expenses may continue to expand over time, you may want an affordable life insurance policy that helps you plan for your family’s financial future until the kids are grown and the house is paid off.

You’re more established in life. In addition to providing a death benefit to your beneficiaries, you may leverage the loan1 or partial surrender features of certain policies to help support things like supplemental retirement income, caring for a family member with a disability or preparing for eventual estate taxes.

You’re single and have no children. The death benefit proceeds from your life insurance policy may help support obligations such as the costs of your personal debts, medical bills or final expenses — and may also help leave a legacy to someone you love or a favorite charity.

Your Farmers agent can explain your options, along with information about riders like:
Disability riders that may help pay your policy’s premiums, and may supplement your lost income, if you’re disabled.

An accelerated death benefit rider that lets you collect a portion of the policy’s death benefit if you become terminally ill with a short life expectancy.

A critical illness rider that pays a lump sum to you if you’re diagnosed with one of several specified critical illnesses such as cancer, heart attack or stroke.

The last month or so has seemed extra windy here in Western Colorado and we have received a number of questions regarding wind claims and roof issues from clients and locals in the real estate industry. Here are a few quick tips that can help you and your clients avoid any issues with Homeowners Insurance when making a purchase.

*Insurance underwriting typically requires roofs to be in "like new" condition, even one missing shingle on any part of the roof, could cause a home to be ineligible for some policies.

*Claims filed by a previous owner can affect the rates and insurability of a new buyer. We can let you know if a home has had previous claims by running a quote.

*Having more than two layers of shingles can make a home ineligible for coverage.

*If a home has wood shake shingles that have been covered up with new asphalt shingles it may also be ineligible for coverage.

*Watch out for "split" or "percentage" deductibles, and actual cash value (ACV) coverage on roofs. These things can be very confusing if they are not explained properly, and may cause you or your clients to have a bad experience when filing a claim if needed.

As always we are here to answer any questions you may have, please reach out to us any time. 970-241-9474

Farmers has spent the last 60 years getting to know outdoor enthusiasts. From boats, personal watercraft and off-road vehicles to motor homes, travel trailers and 5th wheels, we have an array of specialized coverage options. Call me today for more information.