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Last updated July 8, 2009
Founded in 1939, fbl financial group, Inc. was developed to serve the needs of members of the Iowa Farm Bureau Federation. Today, its the holding company of Farm Bureau Life Insurance Company and EquiTrust Life Insurance Company. Farm Bureau Life Insurance Company offers Farm Bureau Financial Services to their policyholders with insurance for cars, homes, life, health, business and more.
The company traces its history to the Great Depression in the 1930s, when the Iowa chapter of the Farm Bureau established the farm bureau mutual insurance Company in 1939 to meet the insurance needs of its farmers.
The Farm Bureau Life Insurance Company (the biggest component) was founded as Iowa Life Insurance Company on October 30, 1944 and opened for business in 1945.
Over the years various Farm Bureaus folded their state insurance companies into the company. It was listed on the New York Stock Exchange in 1996 at a split-adjusted initial public offering price of $8.75.
Farm Bureau Life offers health insurance options include basic health care, long-term care and disability insurance. The basic health care insurance provided by Farm Bureau Life helps cover expenses for doctor visits, hospitilization and other medical care. This policy usually has a deductable and a limit to the amount that they will cover. Long-term care insurance is intended to help individuals for the future and provides benefits in the event of a long-term illness or injury. It covers care for an extended period of time at home, in an assisted living facility or at a nursing home, depending on the amount of coverage purchased. Disability income, as its name implies, offers financial protection by providing income replacement in the event of a disabling injury or illness. Farm Bureau Financial Services health care availability varies by state.
Contact Farm Bureau Life at:
Farm Bureau Life 5400 University Avenue West Des Moines, Iowa 50266-5997 Telephone: (515) 225-5400
Sources: “FBL Financial Group,” Wikipedia, April 2009; “Insurance,” Farm Bureau Finacial Services Web site, 2009; “Health Insurance,” Farm Bureau Financial Services Website, 2009.