Farm Bureau Health Insurance and Life, Auto, Homeowners and Estate Planning, are amongst the many lines of commercial insurance products and services offered to Farm Bureau members. One of the most successful lines of products and services, Farm Bureau Insurance has been helping people and companies manage risks related to business, agriculture and land since 1923.
Farm Bureau Health Insurance
This insurance service is highly beneficial for those in the agricultural, food and animal production and animal and poultry products industries. These industries are highly dependent on the health of their employees and the administration of their businesses. Insurance coverage that provides complete coverage to its policyholders will serve as one of the best protection for these businesses from unpredictable and drastic economic conditions.
As far as farm Bureau insurance policies are concerned, there are various plans to choose from. In addition to health coverage, they also cover property risks and occupational hazards. It is highly beneficial for a farm or ranch organization to obtain an insurance policy from the said organization. By getting an insurance policy, they will be able to get maximum benefits from it.
Insurance is an important aspect of business, because without it, a farm organization will not be able to function. There are different types of policies available to organizations. According to a particular farm or ranch organization, the different types of policies may include individual or family policies.
In addition to that, there are also policies for specific geographic areas. Based on the need of a farm or ranch organization, policies to suit its needs can be acquired.
Insurance is essential to the smooth functioning of any farm or ranch organization. The premiums of these insurance plans vary depending on the risk involved in a particular farm or ranch. If you are a member of any farm or ranch organization, you must look into every detail of your insurance plan, so that you will be able to understand what each policy covers.
A farm or ranch member does not have to worry about not being able to pay the premiums of his farm or ranch insurance policy if he were to become sick.
Farm bureau health insurance policies differ from other kinds of health coverage plans in the sense that they cover everything health-related in a farm or ranch organization. An important feature that makes farm bureau health plans unique is that they also cover personal injuries sustained by the farm or ranch workers as a result of accidents on the farm or ranch.
This means that members of a farm organization will not be left unprotected even if some farmers are known to be negligent. For example, a farmer who is negligent and causes an injury to an employee will not be covered by his health insurance policy.
Farm bureau insurance plans are also different from the normal ones because they offer additional benefits and advantages to farm members. One of the factors that make farm policies different from normal ones is that they have specific premiums that are specific to a farm’s market.
The cost of a policy will depend on the estimated average income of each member of the farm organization. Other factors that affect premium rates include the amount of coverage (number of full-time workers), the average age of the farm’s employees, and the kind of land the farm has.
If there are many fields where crops are grown or several operators who take turns being the operator, premiums will also be high. Thus, farm members who are experienced and/or those with good health would be advised to purchase a more expensive health plan.
A farm organization plan can be purchased directly from a farm insurer or through a broker. Before buying a policy from a broker, you should be aware that most brokers do not represent the policyholder, but rather a farm or ranch organization. Brokers do earn money when they sell policies that are not purchased by policyholders. The brokers earn money by charging high premiums.
The cost of a farm bureau health insurance policy is based on the number of full-time workers of the farm organization and the stated average annual income of each employee. Some policies are guaranteed renewable, while others are non-renewable.
Non-renewable policies remain in effect until the farmer sells his policy or until the policyholder no longer qualifies for coverage. This policy helps the farmer to improve his business and obtain financial security. A farm bureau offers affordable farm organization and farm insurance.