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If you withdraw more than the penalty-free amount during the guarantee period, a surrender charge applies based on the policy year. It starts at 9% in the first year and gradually decreases each year, down to 0.9% in year 10 for the 10-year term. Charges vary by term length and state but do not apply to death benefits or qualifying exceptions 

Enhanced Benefit Rider and 5% Free Withdrawal Rider are available. Enhanced Benefit Rider allows access to funds after the first contract year without surrender charges or MVA if diagnosed with terminal illness or in qualified nursing care for at least 90 days. 5% Free Withdrawal Rider allows withdrawal of up to 5% of the contract value or RMD without penalties.

If you are the sole owner of your annuity, in the unfortunate event you pass away during your contract term, your beneficiary(ies) will be paid a death benefit equal to the Accumulation Value of your annuity. No surrender charges or MVA will be assessed, and your beneficiary does not need to wait until the end of the contract term to access the money.

Spousal continuation benefit is provided, allowing the spouse to continue the contract as the original owner if they are the surviving joint owner or designated beneficiary.

You may withdraw the accumulated interest earned in any year without any withdrawal or Surrender Charges or Market Value Adjustment (MVA) being applied. Withdrawals must be a minimum of $100. On each policy anniversary, accumulated interest is reset to zero for purposes of penalty-free withdrawals. Surrender charges under the Contract are waived on any Required Minimum Distribution (RMD) under the Internal Revenue Code.

An annuity contract may be purchased on a non-qualified basis or for use within certain qualified retirement plans or arrangements that receive favorable tax treatment.

An annuity is a long-term savings vehicle issued by Farmers Life Insurance Company in exchange for a premium payment. This contract provides fixed interest accumulation, market protection, tax deferral, and flexible benefit options such as death benefits, required minimum distribution withdrawals, and optional lifetime income. The Farmers Safeguard Plus MYGA is available for clients aged 18 to 95 and includes features such as penalty-free withdrawals and access to funds in the event of terminal illness or nursing home confinement.

At the end of the guarantee period, if you decide not to make an election, you will automatically be rolled into a contract of the same term and guarantee period with a new rate. A new Surrender Charge Period will apply. This rate will never be less than the minimum guaranteed rate listed on your schedule page.

This product is a single premium, deferred fixed annuity that provides a minimum guaranteed surrender value.

 Multi-Year Guaranteed Annuity (MYGA) is a single premium-deferred annuity designed to grow savings safely with a guaranteed fixed rate of interest over 3, 5, 7, or 10 years. It is ideal for individuals seeking tax-deferred accumulation, protection from market risk, and guaranteed retirement income. The annuity is simple to understand and structured to help clients address evolving financial needs while preserving their capital and planning confidently for the future.