Farmers Life Insurance Review 2025
Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
Farmers
on Nerdwallet
Financial strength rating
Online purchase
NAIC complaints
Policies offered
on Nerdwallet
Farmers
Financial strength rating
Online purchase
NAIC complaints
Policies offered
Why trust NerdWallet
About Farmers life insurance
Farmers life insurance earned 3 stars out of 5 for overall performance. Farmers New World Life Insurance Company sells term, whole and universal life insurance products under the Farmers brand in every state except New York, including a term life policy that often doesn't require a medical exam.
With its range of products and plethora of online tools to learn about and manage a policy, Farmers could be a good fit for many life insurance shoppers.
Life insurance policies available for people up to age 80.
Simple term life typically doesn’t require a medical exam.
Not available in New York.
» MORE: Compare life insurance quotes
Farmers life insurance policies
Term life insurance. Farmers sells two term life insurance policies:
Farmers Simple Term is available for 18- to 65-year-olds for 10, 20 or 30 years. Coverage amounts range from $75,000 to $150,000. This policy usually doesn’t require a medical exam, and you could get approved for coverage within 24 hours.
Farmers Value Term lasts 10, 20 or 30 years, with coverage amounts of $150,000 to $10 million. This policy is open to those between the ages of 18 and 75 but requires a medical exam.
Whole life insurance. Farmers offers two types of whole life insurance:
Farmers EssentialLife Simple Whole Life is open to people ages 15 days to 80 years old, and expires at age 121. Coverage amounts range from $15,000 to $250,000. The policy comes with a guaranteed death benefit, and premiums stay the same. To apply, you’ll need to answer a health questionnaire and potentially take a life insurance medical exam.
Farmers Graded Death Benefit Whole Life doesn’t require a medical exam. It’s marketed to people ages 18 to 80 who may have health issues but are able to take care of themselves. Premiums remain level, and policies earn a cash value over time, which Farmers guarantees. Once you’ve accumulated enough cash value, you can begin withdrawing money or taking out loans against your policy. The policy comes with a graded death benefit, meaning if the policyholder dies of natural causes within the first two years, their beneficiaries will receive a payout equal to 110% of the premiums paid.
Universal life insurance. Like all universal life insurance policies, Farmers EssentialLife Universal Life offers flexible premiums, and has a cash value component that earns interest over time. The policy is open to people ages 15 days to 80 years old, with coverage ranging from $50,000 to $10 million.
Indexed universal life insurance. Farmers Index Universal Life insurance targets people who want protection from underperforming markets. Portions of your premiums can remain in a short-term holding account earning 0.1%, be allocated to accounts indexed to the S&P 500 or S&P MARC 5% ER or placed in a fixed interest account paying a guaranteed minimum interest rate of 1%. Policies are open to applicants between 15 days and 80 years old, and coverage amounts range from $50,000 to $10 million.
Farmers customer complaints
Over three years, Farmers has drawn close to the expected number of complaints to state regulators for a company of its size, according to a NerdWallet analysis of data from the National Association of Insurance Commissioners.
» MORE: Best life insurance companies
How Farmers compares to other insurers
Farmers | SBLI | Riversource | |
|---|---|---|---|
Star rating | |||
Financial strength | Strong. | Strong. | Exceptional. |
NAIC complaints | Close to the expected number. | Fewer than expected. | Fewer than expected. |
J.D. Power ranking | N/A. | N/A. | N/A. |
Policy types offered | Term, permanent & no-exam. | Term, permanent & no-exam. | Term & permanent. |
Read full reviews |
» MORE: Largest life insurance companies
More about Farmers
The Farmers website has clear descriptions of each life insurance product and several resources for shoppers, including guidance for determining which type of life insurance is right for them. You can log in to manage your policy and make payments.
The Farmers mobile app offers a variety of features to policyholders, including the ability to pay bills, view policy documents and connect with an agent.
You can get a Farmers life insurance quote online, on the mobile app or by contacting a life insurance agent through the website’s search portal.
Other Farmers insurance products include:
Boat and watercraft insurance.
Collectible auto insurance.
Condo insurance.
Earthquake insurance.
Flood insurance.
Landlord and rental property insurance.
Mobile and manufactured home insurance.
Motorcycle insurance.
Recreational vehicle insurance.
Umbrella insurance.
How to contact Farmers
Farmers can be reached by:
Phone: Call 888-327-6335 on weekdays from 7 a.m. to 11 p.m. CT and on weekends from 8 a.m. to 8 p.m. CT. For the 24/7 claims center, call 800-435-7764.
Email: Fill out the form on the Farmers contact page.
Live chat: Launch the chat function from Farmers’ contact page on weekdays from 5 a.m. to 6 p.m. PT and weekends from 6 a.m. to 6 p.m. PT.
Life insurance buying guide
Before you start comparing companies, choose the type of life insurance you want, such as term or whole life. Decide which life insurance riders, if any, you want the policy to include. Calculate how much life insurance you need and how long you want the coverage to last. Check that the insurers you’re considering offer the coverage you’re looking for.
When comparing rates, be sure the quotes are for the same amount of coverage over the same period of time. It’s also important to make sure the policy’s medical requirements match your needs. For example, if you want to skip the life insurance medical exam but don’t mind answering health questions, confirm that the application process for each policy you're comparing aligns with that.
Price may not be the biggest driver behind your decision to buy. Look at the number of consumer complaints each company receives, as high numbers can be a red flag about the quality of service.
For more guidance, see our life insurance buying guide.
Methodology
Life insurance ratings methodology
NerdWallet’s life insurance ratings are based on consumer experience, complaint index scores from the National Association of Insurance Commissioners for individual life insurance, and weighted averages of financial strength ratings, which indicate a company’s ability to pay future claims. Within the consumer experience category, we consider ease of communication and website transparency, which looks at the depth of policy details available online. To calculate each insurer’s rating, we adjusted the scores to a curved 5-point scale.
These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.
Insurer complaints methodology
NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2021-2023. To assess how insurers compare with one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.
