Farm Bureau Insurance of Michigan (Farm Bureau Life) life insurance

Overview

Farm Bureau Life Insurance Company of Michigan is the life insurer of the Michigan Farm Bureau Family of Companies. It does business as Farm Bureau Insurance of Michigan, the same brand used by its sister auto, home and farm insurers. Based in Lansing, it sells term life, whole life and fixed annuities through Farm Bureau Insurance agents across Michigan. The Michigan Farm Bureau group, which also includes Cincinnati Equitable Life Insurance Company of Ohio, ranked #92 among U.S. life insurance groups by 2024 individual life direct premiums written, according to NAIC market share data, with about $150.8 million in premiums and a 0.10% market share.

The life company is a stock insurance company, but it is not publicly traded. According to the organizational chart in its affiliates' 2024 statutory filings, Farm Bureau Life (NAIC code 63096) is wholly owned by Michigan Farm Bureau Financial Corporation, and the Michigan Farm Bureau owns all the voting stock of that corporation. The Michigan Farm Bureau is the state's general farm organization, founded on February 4, 1919. The property and casualty side, Farm Bureau Mutual Insurance Company of Michigan, is a mutual insurer that the Farm Bureau controls through proxies.

Farm Bureau Insurance of Michigan says it has nearly 800 employees and 450 agents across the state. Its life insurance is aimed at families, farmers and small business owners who want one local agent for all their coverage.

History

The Michigan Farm Bureau formed Farm Bureau Mutual Insurance Company of Michigan in 1949 to sell auto insurance to its members. It hired Nile Vermillion in January of that year to organize the company, which opened on March 7, 1949. Members then asked for life coverage, and in 1951 the Farm Bureau introduced Farm Bureau Life Insurance Company of Michigan. The company describes it as the first company to specialize in rural life insurance in Michigan. It says the life company wrote more than $20 million of charter life insurance in its first 10 months, a record at the time for Michigan insurers and for Farm Bureau companies nationally.

The insurance companies took the name Farm Bureau Insurance Group in 1964 and dropped "Group" in 1988. The family of companies is headquartered on West Saginaw Highway on Lansing's west side.

The group has also bought and sold other life insurers. Farm Bureau acquired Cincinnati Equitable Companies, the parent of Ohio-based Cincinnati Equitable Life Insurance Company, in 2019. It also owned Leaders Life Insurance Company of Tulsa, Oklahoma, a worksite life and health insurer, until Truss Peak Holdings bought Leaders Life in a deal that closed on May 1, 2025. Farm Bureau life insurers in other states, such as Farm Bureau Financial Services in Iowa, COUNTRY Financial in Illinois and Indiana Farm Bureau Insurance, are separate companies with their own owners.

Life insurance products

Farm Bureau Insurance of Michigan's life product page lists term and whole life:

• Level term, with premiums fixed for 10, 20 or 30 years. The company suggests it for covering a mortgage, funding a buy-sell agreement or backing a loan. Level term policies may be convertible to permanent coverage without new underwriting. See converting term life to permanent: how the conversion option works.
• Return of premium term, which refunds the base premiums you paid if you outlive the term. Rider premiums and extra charges for rated health classes are not refunded. The refund is described as tax free. Our guide to return of premium term life insurance: is it worth it explains the trade-off: you pay more each year in exchange for the refund.
• Whole life, with guaranteed coverage as long as premiums and any loan interest are paid. The death benefit is guaranteed even if you live to 120. You can choose a single premium, premiums payable to age 100 or a schedule in between. Cash value can be borrowed or surrendered, and you can stop paying and keep a smaller guaranteed death benefit through reduced paid-up insurance.

The company says it can cover people 85 or younger. Its FAQ also describes universal life, with flexible premiums, as a kind of permanent coverage, but the life product page lists only term and whole life. Riders let you waive premiums if you become totally disabled, protect your children's ability to buy insurance later and double the death benefit for accidental death. The company does not advertise no-exam, guaranteed issue or final expense policies. Underwriting details are handled by the agent.

Other products

The life company also sells fixed annuities. It offers a multi-year guaranteed annuity (see multi-year guaranteed annuity) with 3-, 5-, 7- or 10-year rate guarantees, and a single premium deferred annuity with 1-, 3- or 5-year guarantees. Both can hold qualified or non-qualified money. Flexible premium annuities let you keep adding money: Flex for qualified funds and Accumulator for non-qualified funds. Immediate annuities are also available. The MYGA includes a nursing home waiver of surrender charges for eligible owners. The sister companies sell auto, home, farm, business and lakefront home insurance.

Buying and service

Coverage is sold through Farm Bureau Insurance agents in Michigan. You can request a quote on the website, but an agent completes the sale. If you are not already a client, the website's Find an Agent tool searches by location or name.

Premiums can be paid online through FB Pay after you set up a Farm Bureau Insurance web account. For billing questions, technical problems or to report an issue, call 800-535-2335. For questions about a specific policy, the company directs you to your agent. General company questions go to 517-323-7000.

Claims

The company's claims page centers on auto and property claims. For any claim, Farm Bureau Insurance of Michigan says you can report it online, call the Claim Reporting Team at 877-324-6764 or contact your agent. You can then check its status online, by email or by phone. Life insurance beneficiaries should start with the agent or the claim line and have a certified death certificate and the policy number ready. The site does not publish a separate life claims address or turnaround time. Our claims guide covers the usual documents.

Ratings and reputation

AM Best affirmed Farm Bureau Life Insurance Company of Michigan's A (Excellent) financial strength rating with a stable outlook in July 2026, according to the company's ratings page, as it had in July 2025. Cincinnati Equitable Life is also rated A (Excellent). According to the company, AM Best's rating reflects Farm Bureau Life's capitalization, its consistently favorable operating earnings and a relatively low-risk product line. The property and casualty companies are rated A- (Excellent). The life company does not publish ratings from S&P, Moody's or Fitch.

The company says Farm Bureau Life has been named to the Ward's 50 list of top-performing life and health insurers 31 times in the 36 years of the award. It was not among the brands ranked in the J.D. Power 2026 U.S. Individual Life Insurance Study, which covers larger national insurers.

Who it suits

Farm Bureau Life suits Michigan residents who want a local agent, already insure a car, home or farm with Farm Bureau, and need plain term or whole life or a fixed annuity. It is a weaker fit if you live outside Michigan, want to compare and buy online, need universal life, indexed or variable products, or want a no-exam or guaranteed-issue policy.

• Strengths: A (Excellent) from AM Best, affirmed in July 2025; return of premium term and whole life with single-premium and limited-pay choices; coverage up to age 85; long Michigan roots and a statewide agent force.
• Weaknesses: Sold only in Michigan and only through Farm Bureau agents; no online application; a narrow published product list; no S&P, Moody's or Fitch ratings shown; no dedicated life claims contact on the website.

How to contact Farm Bureau Insurance of Michigan