Last updated June 15, 2009
In 1946, Southern Farm Bureau Life was organized through the efforts of Alabama, Arkansas, Kentucky, Mississippi and Texas’s Farm Bureau Federations. The company’s vision was to meet the needs of southern farmers and their families, a group they felt was underinsured. Today, both the company and its members have expanded. The company now serves ten states across the south. Southern Farm Bureau Life’s motto is “Helping you is what we do best!”
Southern Farm Bureau offers term and permanent life insurance. Permanent life insurance provides coverage for a policy owner’s entire life. Death benefits are paid when the policyholder dies. These policies build cash value from premium payments, giving the insured more options than other forms of insurance. Southern Farm Bureau offers a wide variety of options such as whole life, 15 payment life, 20 payment life, 30 payment life, modified premium whole, single premium whole and adjustable premium life insurance. Although all of these options provide lifelong coverage, they vary in payment plans. Whole life usually requires a set, annual fee to keep the policy in force. The others (15, 20, 30 payment plans) have specified terms for payment. Modified premium whole insurance initially starts with lower premiums but increases in later years. With single premium whole, the insured pays a one-time lump sum as a payment for a lifetime of coverage. Adjustable premium life gives the flexibility to change payment amounts through the years.
Term-life offers cheap coverage for a set amount of years, usually a contracted period of time. If the insured dies within that time period, the death benefits will be paid to the family. Southern Farm Bureau Life plans come in 10, 20 and 30 year intervals. At the end of the time span, the policy expires and must be renewed for coverage to continue.
Contact Southern Bureau Life Insurance Company at:
Southern Farm Bureau Life Insurance Company
P.O. Box 78
Jackson, MS 39205
Telephone: (601) 981-7422
Sources: “Find Basic Product Information,” Farm Bureau Life web site, 2002, “Company History,” Farm Bureau Life web site, 2002.