Life insurance is a contract between you and an insurance company, in which you pay regular premiums in exchange for a death benefit that is paid to your beneficiaries upon your passing. This benefit provides financial support to your loved ones, helping them cover immediate expenses, debts, and future financial needs.
- Death Benefit: The death benefit is the sum of money paid to your beneficiaries upon your passing.
- Premiums: The amount you pay initially and on a regular basis. which can be adjusted based on the type of policy you choose, your age, health, and the coverage amount.
- Policy Types: We offer various types of life insurance, including term life, whole life, universal life, and indexed universal life each with unique features to meet different needs and budgets.
- Cash Value: Some life insurance policies, such as whole life and universal life, they can accumulate cash value over time, which can be borrowed against or used for various purposes during your lifetime.
- Beneficiary Designation: You have the flexibility to choose one or multiple beneficiaries, ensuring that the death benefit goes to the individuals or organizations you wish to support.
- Tax Benefits: Life insurance can offer certain tax advantages, such as a tax-free death benefit and potential tax-deferred growth of cash value.
Annuities are financial contracts between an individual and an insurance company. In exchange for a lump sum payment or a series of payments, the annuity provider guarantees periodic payments to the annuitant. These payments can be made in a lump sum, for a specific period, for life, a lump, or a combination of both. Annuities are a versatile financial tool, often used to generate a reliable income stream during retirement.
- Guaranteed Income: Annuities can provide a predictable and guaranteed income stream, ensuring financial security in retirement.
- Flexible Payment Options: You can choose from various types of annuities, such as fixed or indexed annuities, each with its unique payment structure and risk profile.
- Tax Advantages: Annuities can offer tax-deferred growth, which means you pay taxes on the earnings only when you withdraw funds. This can lead to potential tax savings.
- Legacy Planning: Some annuities offer features to pass on remaining funds to beneficiaries, helping you leave a financial legacy.
- Protection from Market Volatility: Fixed and indexed annuities offer a level of protection from market downturns, providing stability and peace of mind.
- Income for Life: With a lifetime income annuity, you’ll receive payments for the rest of your life, protecting against the risk of outliving your savings.
***Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Fixed Annuities are designed to meet long-term needs for retirement income, and they provide guarantees against the loss of principal and credited interest, and offer the reassurance of a death benefit for your beneficiaries.
Farmers Union Service Association, LTD,
1415 12th Ave SE
PO Box 2020
Jamestown, ND 58402
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Farmers Union Insurance
3801 Memorial Hwy Ste. C.
Mandan, ND 58554
Insural Insurance Office
4600 Kietzke Lane A-107
Reno, NV 89502
Farmers Union Insurance