Farm Bureau Life Insurance Company Review (2024)

Explore Farm Bureau Life Insurance Company's tailored coverage options, including whole, term, and universal life insurance, emphasizing personalized service and community support.

UPDATED: Feb 26, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Feb 26, 2024Fact Checked

Laura D. Adams

Insurance & Finance Analyst

Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. As an award-winning author, spokesperson, and host of the top-rated Money Girl podcast since 2008, millions of readers and listeners benefit from her practical advice. Her mission is to empower consumers to live healthy and rich lives by planning for the future and making smart money decisions. She rec...

Insurance & Finance Analyst

Daniel Walker

Licensed Insurance Agent

Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...

Licensed Insurance Agent

UPDATED: Feb 26, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

UPDATED: Feb 26, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Feb 26, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Feb 26, 2024Fact Checked
4.0
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Farm Bureau Life Insurance Company

Average monthly rate for healthy individuals:

N/A

A.M. Best rating:

A (Excellent)

Complaint level:

Low

Pros

  • Customized Policies Tailored to Individual Needs
  • Strong Financial Stability and Reputation
  • Personalized Customer Service and Localized Expertise
  • Commitment to Community Support and Involvement
  • Hassle-Free Claims Process with Prompt Assistance

Cons

  • Limited Online Resources for Policy Management
  • Availability Limited to Specific Geographic Regions

Final Verdict: Review of Farm Bureau Life Insurance Company

In this comprehensive review, we delve into the offerings and features of Farm Bureau Life Insurance Company, shedding light on its diverse coverage options, pros and cons, application and claims processes, and commitment to customer satisfaction. From whole life and term life insurance to universal coverage, Farm Bureau tailors policies to individual needs.

The company’s strengths lie in its personalized service, strong financial stability, and community support. While limited online resources and geographic availability pose challenges, Farm Bureau’s streamlined claims process and customer-centric approach stand out.

Whether you’re a newcomer or considering a switch, this review equips you with insights to make an informed decision about securing your family’s financial future.

Farm Bureau Insurance Coverage Options

When it comes to safeguarding your family’s financial future, choosing the right life insurance coverage is paramount. Farm Bureau Life Insurance Company understands the importance of tailored solutions that meet your unique needs.

Farm Bureau Life Insurance Company is dedicated to providing comprehensive coverage that aligns with your goals and circumstances. Here are the coverage options that you can explore:

  • Whole Life Insurance: Offering lifelong protection and a guaranteed death benefit, whole life insurance from Farm Bureau also builds cash value over time, adding an extra layer of financial security.
  • Term Life Insurance: If you’re seeking affordable coverage for a specific period, Farm Bureau’s term life insurance policies can provide you with the peace of mind you need. These policies offer a death benefit that is payable if the policyholder passes away within the selected term.
  • Universal Life Insurance: Combining lifelong coverage with a savings component, universal life insurance from Farm Bureau provides flexibility in premium payments and death benefits. This adaptable policy can cater to your changing financial circumstances.

Each of these coverage options is designed to offer you a solution that suits your family’s needs, providing a foundation of stability and support in an unpredictable world. With Farm Bureau Life Insurance Company, you’re not just getting coverage – you’re gaining a partner dedicated to helping you navigate life’s uncertainties.

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Farm Bureau Insurance Rates Breakdown

Driver ProfileFarm Bureau LifeNational Average
Clean Record$122$119
1+ Ticket$145$147
1+ Accident$176$173
DUI$210$209
Poor Credit$210$205

*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver

Farm Bureau Insurance Discounts Available

DiscountFarm Bureau Life
Anti Theft5%
Good Student10%
Low Mileage8%
Paperless4%
Safe Driver15%
Senior Driver6%

At Farm Bureau Life Insurance Company, our commitment to our policyholders goes beyond just providing comprehensive coverage. We understand that affordability plays a crucial role in ensuring that families can access the protection they need. Here are the discounts provided by Farm Bureau:

  • Multi-Policy Discount: By bundling multiple insurance policies, such as auto and home insurance, with Farm Bureau, you can enjoy a discounted rate on your life insurance policy.
  • Good Health Discount: Policyholders who maintain a healthy lifestyle and meet specific health criteria may qualify for a discounted premium rate.
  • Safe Driver Discount: If you have a clean driving record and demonstrate safe driving habits, you might be eligible for a discount on your life insurance premium.
  • Non-Smoker Discount: Non-smokers often receive a discount on their life insurance premiums due to their lower risk of certain health conditions.
  • Preferred Rate Discount: Individuals with excellent health profiles and favorable medical histories could qualify for preferred rates, resulting in lower premiums.
  • Loyalty Discount: Customers who have been with Farm Bureau for an extended period may qualify for a loyalty discount, rewarding their commitment to the company.
  • Family Discount: Families with multiple members insured by Farm Bureau may be eligible for a discount on their premiums.

Our diverse range of discounts ensures that quality coverage remains accessible to all. We believe that protecting your loved ones shouldn’t strain your budget, and these discounts are a testament to that belief. When you choose Farm Bureau, you’re not just choosing insurance – you’re choosing a partner that values your financial well-being.

How Farm Bureau Insurance Ranks Among Providers

Farm Bureau Life Insurance Company operates in a competitive landscape alongside several other prominent insurers. Understanding the company’s main competitors can provide valuable insights into the options available to consumers. Here are some of Farm Bureau’s key competitors:

  • State Farm: Known for its extensive range of insurance offerings, State Farm is a major competitor in the life insurance sector. The company boasts a strong financial standing and a reputation for excellent customer service. State Farm’s variety of coverage options and competitive rates make it a preferred choice for many seeking life insurance.
  • Allstate: With a recognizable brand and a wide array of insurance products, Allstate is another major player in the industry. The company offers customizable life insurance policies and has a strong online presence, making it accessible to a diverse customer base.
  • Northwestern Mutual: As a mutual company, Northwestern Mutual stands out for its focus on providing dividends to policyholders. The company’s emphasis on financial planning and investment options alongside life insurance makes it an attractive choice for individuals seeking comprehensive coverage and long-term financial strategies.
  • Prudential: Prudential is well-regarded for its global presence and diverse range of insurance solutions. The company’s innovative approach to underwriting and policy options caters to various needs, from traditional life insurance to more specialized offerings.
  • New York Life: Known for its financial strength and longevity, New York Life is a mutual company that emphasizes whole life insurance policies. The company’s commitment to policyholders and its history of paying dividends contribute to its appeal among those seeking stability and long-term benefits.
  • Metlife: Metlife offers a combination of life insurance and financial products, catering to individuals and businesses. Its focus on employee benefits and group insurance sets it apart, making it a popular choice for employer-sponsored coverage.
  • AIG (American International Group): AIG provides a range of insurance products, including life insurance, with a global presence. The company’s reputation for innovation and financial services diversification can make it an attractive option for those looking for comprehensive insurance solutions.
  • Mutual of Omaha: Mutual of Omaha is known for its straightforward and customizable life insurance policies. The company’s reputation for transparency and customer-focused approach appeals to individuals seeking simplicity and reliability.

These competitors, among others, create a dynamic marketplace where consumers have various options for securing their financial future through life insurance. Each competitor brings unique strengths and offerings to the table, making it essential for individuals to compare and contrast policies to find the best fit for their needs.

Read more: State Farm Life Insurance Review 

Farm Bureau Life Insurance Company Claims Process

Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)

Filing a claim with Farm Bureau Life Insurance Company is designed to be straightforward and hassle-free. Policyholders have multiple options when it comes to filing a claim, including convenient online and mobile app solutions.

With the power of digital technology at their fingertips, customers can initiate the claims process from the comfort of their homes. Additionally, for those who prefer the personal touch, Farm Bureau offers the option to file claims over the phone, ensuring that their diverse customer base can access the claims process with ease.

Average Claim Processing Time

Farm Bureau Life Insurance Company is committed to providing efficient service, and this dedication extends to the claim processing time. On average, the Farm Bureau strives to process claims promptly to ease the financial burden on policyholders during difficult times.

The company’s streamlined procedures and use of technology contribute to reducing the time it takes to review and settle claims. Policyholders can expect a responsive approach, allowing them to receive the support they need when they need it most.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback plays a crucial role in evaluating an insurance company’s performance. Farm Bureau places a strong emphasis on customer satisfaction and aims to provide fair and timely claim resolutions and payouts.

Through its commitment to personalized service, Farm Bureau has garnered positive reviews from policyholders who have experienced a smooth claims process. In this section, we explore the real-world experiences of customers to gain insights into the company’s claim resolution and payout process.

Discover the Digital and Technological Features Offered by Farm Bureau Life Insurance Company

Mobile App Features and Functionality

Farm Bureau understands the importance of staying connected in the digital age. The company offers a comprehensive mobile app equipped with features and functionality that cater to the modern policyholder.

Whether it’s accessing policy information, making payments, or even initiating a claim, the Farm Bureau mobile app provides a convenient and user-friendly platform. In this section, we delve into the specific features and capabilities of the mobile app, highlighting how it enhances the overall customer experience.

Online Account Management Capabilities

Managing insurance policies and accounts online has become a standard convenience for customers. Farm Bureau offers robust online account management capabilities, allowing policyholders to have greater control over their insurance affairs.

From updating personal information to reviewing policy details and making premium payments, Farm Bureau’s online portal simplifies the insurance management process. This section explores the range of functions available through the online platform, emphasizing its role in empowering customers.

Digital Tools and Resources

In today’s digital landscape, access to relevant information and resources is essential. Farm Bureau recognizes this need and provides an array of digital tools and resources to assist policyholders in making informed decisions.

These tools encompass educational materials, calculators, and other resources that empower customers to understand their insurance options better. We delve into the digital tools and resources offered by Farm Bureau, shedding light on how they contribute to enhancing the overall insurance experience.

Frequently Asked Questions

What types of insurance does Farm Bureau Life Insurance Company offer?

Farm Bureau offers Whole Life Insurance, Term Life Insurance, and Universal Life Insurance. Each option provides varying levels of coverage and benefits to suit your individual needs.

How can I apply for a policy with Farm Bureau?

Applying for a policy with Farm Bureau is straightforward. Begin with a consultation to determine the right policy for you. Prepare necessary documents, and once submitted, Farm Bureau will evaluate your application and provide a premium based on your risk profile.

What makes Farm Bureau’s claims process hassle-free?

Farm Bureau’s claims process is designed for simplicity. When filing a claim with Farm Bureau, notify the company and provide required documents like a death certificate. Farm Bureau’s efficient review and processing ensure a prompt response during difficult times.

Does Farm Bureau offer discounts to policyholders?

Yes, Farm Bureau offers a variety of discounts to make life insurance more affordable for policyholders. These include multi-policy, good health, safe driver, non-smoker, preferred rate, loyalty, and family discounts, catering to a range of individual situations.

What sets Farm Bureau apart from its competitors?

Farm Bureau stands out due to its personalized customer service, strong financial stability, and commitment to community support. While Farm Bureau’s online resources might be limited and availability is region-specific, its customer-centric approach and streamlined claims process make it a reliable choice.

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Laura D. Adams

Insurance & Finance Analyst

Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. As an award-winning author, spokesperson, and host of the top-rated Money Girl podcast since 2008, millions of readers and listeners benefit from her practical advice. Her mission is to empower consumers to live healthy and rich lives by planning for the future and making smart money decisions. She rec...

Insurance & Finance Analyst

Daniel Walker

Licensed Insurance Agent

Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...

Licensed Insurance Agent

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

Reviews
for Farm Bureau Insurance

4.04 (113 reviews)
4
March 26, 2023

MEC58

Under writers are VERY VERY LAZY!!!!!! And they LIE

Love my agent and his receptionist. I can't stand the lazy under writers. This new no fault insurance is BS They require to see my husbands and my Medicare card every 6 months. I don't know why because we aren't going to lose it like EVER!!!!! So every 6 months we fill out the paperwork and send in the copies of our cards. They send us our new policy and have the PIP at 16% instead of the 91% Every 6 months we have to argue with them because they...
Love my agent and his receptionist. I can't stand the lazy under writers. This new no fault insurance is BS They require to see my husbands and my Medicare card every 6 months. I don't know why because we aren't going to lose it like EVER!!!!! So every 6 months we fill out the paperwork and send in the copies of our cards. They send us our new policy and have the PIP at 16% instead of the 91% Every 6 months we have to argue with them because they claim we never sent anything. Continuously over and over and I'm sick of it!!! Then we get charged full rate until they fix it. Then they prorate our premium for the other 3-4 months. It's getting to be not worth the hassle. And I'm sure they know this and are taking advantage of the elderly and disabled.
2
January 31, 2023

Spade

Scammers

They will start you low and then jack up the prices for your insurance fast will not deal with them again. Scammers
2
April 8, 2022

SaRahl3465

Was told to get into an accident to cover my damages

Personally for the last 12 years I have been satisfied. [REDACTED NAME] has been a great agent. Only problem I have ever had those 12 years was no one at the company could ever spell my name right (and that's with them having a copy of my ID). They are my current insurance holder but that will be changing quite quickly. I nearly collided with a herd of deer in March 2022. I was able to brake fast and hard enough to avoid major damage, but damage...
Personally for the last 12 years I have been satisfied. [REDACTED NAME] has been a great agent. Only problem I have ever had those 12 years was no one at the company could ever spell my name right (and that's with them having a copy of my ID). They are my current insurance holder but that will be changing quite quickly. I nearly collided with a herd of deer in March 2022. I was able to brake fast and hard enough to avoid major damage, but damaged my seat as response to the whiplash. We were told by [REDACTED NAME] (a supervisor) that since I didn't hit anything my vehicle didn't suffer any damage and my seat was caused by wear and tear (Not caused by avoiding the accident) and not covered by my full coverage. [REDACTED NAME], an insurance adjuster, said the same thing. Even if its had been another car accident and I hit the brakes to avoid colliding with another car, it's consider wear and tear. Basically it was told I should have just it the animal. The repair ended up only being $750. Meaning they would have only paid $250. So...instead of using common sense, them lawyering up so they knew what to say, and not reasoning with a customer, who thought they were valued members, we will be taking our business elsewhere. They have good rates, but its covers the fact your dealing with bookies gambling your money that you won't get into an accident. (I have most of our calls on recording if anyone wants to deny anything as well)
1
March 1, 2022

Kat22kat

Stay away from this company!

I was in a car accident approximately 7 yrs ago.. and they have not paid any of my medical bills in the last 4 years. I have over 200.000 in medical bills and their offer to settle was 50.000 with future. That means they would be done with it (I am still treating). At first I thought what a joke, but the more I thought about it the angrier I got.. they are happy to take your money for the premium but fight till the end so they don't have to pa...
I was in a car accident approximately 7 yrs ago.. and they have not paid any of my medical bills in the last 4 years. I have over 200.000 in medical bills and their offer to settle was 50.000 with future. That means they would be done with it (I am still treating). At first I thought what a joke, but the more I thought about it the angrier I got.. they are happy to take your money for the premium but fight till the end so they don't have to pay out or pay little out.. I do still have them for my insurance company for two reasons. 1) my income is very limited and they are the cheapest, 2) if I was to ever get into another accident they can't blame my old injuries on a new accident and try to make another insurance company pay. We have been in litigation for over 3 yrs now. They are the worst.
4
October 9, 2020

ckr01

Car Insurance Review

They have reasonable rates and have an excellent reputation in my local area for paying out claims. My only complaint is the annual membership fee.
5
August 18, 2019

Mogirlcher

Number one company

Agent always available when needed. Have had to make claims and we’re always satisfied with service. Cost of polices very competitive.
5
July 30, 2019

tuffy8

Farm Bureau

I have had no problems with this company. Their policies are affordable and they offer lots of discounts.
5
July 26, 2019

Kdanielle

Friendly

They were friendly and patient. I felt as though they genuinely cared about me. They worked with me.
4
June 12, 2019

Jong430

Farm Bureau Review

Great customer service and best price I've found. Any time I have an issue they are quick to help me through it.
5
January 9, 2019

Aloomi02

I swear by this company

I have always had a great experience with them. When I was at my uncle's house and his neighbor backed into my car I had my insurance claim within 7 days. When the bank messed up and my account was overdrawn, Farm Bureau put a hold on my account so that it would not overdraw anymore.
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