There's a lot more to insurance than meets the eye. While most people understand the importance and benefits of insurance at face value, not everyone knows the many ways that it can impact your life. Here are eight examples that prove the importance of insurance.
1.Protects Against ID Theft
Identity theft is one of the fastest growing crimes in the United States, topping the Federal Trade Commission's list of consumer complaints for several years. Farm Bureau offers a comprehensive suite of products and services, including affordable identity theft protection that can help you through quick detection and rapid response if you are targeted. And, if the worst should occur, you can connect with experienced fraud specialists who will work to resolve the situation, so you don't have to deal with it alone.
2. Contributes to Business Success
When it comes to planning for the future, succession strategies are a top priority for business owners. Who will take over the business when I'm no longer able to continue? It's the question you and your agent can answer together when you customize a business succession strategy that fits your needs so you can successfully hand the baton to the next generation.
3. Keeps Business Owners in Business
To a business owner, owning your own company is more than a source of income — it's a dream. Business insurance protects that dream. By customizing your coverage, you can stay in business no matter what life throws your way.
4. Helps You Retire Comfortably
Retirement is the beginning of an exciting new chapter. One of the biggest benefits of insurance for retirees is the security it can provide in this next phase of life. Whether it’s securing investments you’ve saved for your whole life or providing coverage for your wellbeing, you can benefit from insurance. By understanding your retirement options now, you can achieve your retirement goals later.
5. Benefits Charities
Not only does life insurance protect you and your loved ones, it can also make a positive impact on your community or favorite organizations. It can be a great tool for increasing charitable giving. The opportunity to make a larger gift than otherwise possible by designating a favorite charity as a beneficiary on your life insurance policy is a wonderful way to support your community.
6. Builds Safer Drivers
Distracted driving leads to car accidents, injured pedestrians and damaged property, making safe driving education just as important as ever. If you have a new driver under age 25 coming onto your policy, the Farm Bureau Young Driver Safety program can help make them a safer driver while saving money on their car insurance, too.
7. Helps You Leave a Legacy
Passing on a legacy to the next generation is important. How will you help your family members fund the future and fuel their dreams? There are many opportunities for you to leave a lasting legacy through life insurance, in addition to providing for your spouse, family and other heirs. Whether you’re creating an estate plan and providing guidance for your loved ones or detailing a plan for down the road, insurance will benefit your future plans today.
8. Builds Cash Value for Emergencies
Do you need cash to help pay for college tuition? Or to make a down payment on a new home? Or in case of an emergency? Whatever the reason, there are a number of ways you can tap into the cash value you've built up on a permanent policy. If you find yourself in a tight situation, you may benefit from having this type of insurance.