Farmers Life Insurance Company

Farmers Life Insurance Company

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Financial Ratings

A.M. Best B++ Good

About Farmers Life Insurance Company

Farmers Life Insurance Company is a licensed life insurance provider headquartered at 243 North Peters Road, Knoxville, TN. The company specializes in annuity products designed to help individuals grow and protect their savings, particularly in preparation for retirement. Its flagship offering, the Safeguard Plus® Multi-Year Guaranteed Annuity (MYGA), is crafted for clients seeking secure, predictable, tax-deferred growth.

Product Lineup

Farmers Harvest

Fixed Indexed Annuity

Protected growth with market upside, tax deferral & lifetime income options

Upside Potential & Downside ProtectionFull upside participation, zero downside in declining markets
Tax-Deferred Growth100% tax deferral on earnings
Flexible Surrender Periods3 options to fit different retirement plans
Penalty-Free Withdrawal10% annual access or RMD amounts

Best for: Individuals age 0-85 who are planning for retirement, want protection from marke...

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Farmers Harvest

Fixed Indexed Annuity

Index-linked growth with downside protection

Index Crediting Strategies5 index options including S&P 500, dividend growers, and global momentum indices
Premium Bonus5-10% depending on term length and age at issue
Penalty-Free Withdrawals10% of contract value or required minimum distribution, whichever is greater
Surrender Charge Period5, 7, or 10-year options; charges range from 9% in year 1 down to 0.9% by year 10

Best for: Conservative to moderate investors seeking tax-deferred growth tied to market in...

Details

Farmers Harvest

Fixed Indexed Annuity

Index-Linked Growth with Principal Protection

Index-Based CreditingMultiple crediting strategies available
Premium Bonus5-10% bonus depending on age and term
Enhanced Death BenefitNo extra fee
Penalty-Free Withdrawals10% annually, or RMD if qualified plan

Best for: Investors age 0-85 seeking moderate growth with downside protection, principal s...

Details

Safeguard Plus

Annuity

Guaranteed growth. Protected principal. Your peace of mind.

Guaranteed Fixed Rates3, 5, 7, or 10-year terms available
Tax-Deferred Growth100% tax deferral
Penalty-Free Interest WithdrawalsMinimum $100 per withdrawal
Principal ProtectionFull protection guaranteed

Best for: Individuals seeking safe, predictable growth for retirement savings who can comm...

Details

Financial Ratings

Live from CANNEX

Rating Agency

A.M. Best

Rating

B++

Description

Good

Effective

December 12, 2022

Rating Analysis

A.M. Best’s B++ (Good) rating reflects Farmers Life Insurance Company’s solid financial foundation and moderate ability to meet ongoing insurance obligations. This rating places the company in the secure category, indicating that it is a stable and dependable insurer, albeit not in the highest tiers of financial strength. The B++ rating assures customers and policyholders that while the company maintains sound operations and claim-paying capabilities, it may be more vulnerable to adverse economic conditions than higher-rated peers. Nonetheless, for a company focused on annuity products with guaranteed features and no market exposure, this rating supports confidence in their long-term contractual commitments.A.M. Best

Farmers Life Insurance Company Products

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