Michigan Farm Bureau Life Insurance Review

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Updated: May 22, 2024

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MoneyGeek’s Take: Is Michigan Farm Bureau Right for You?

Michigan Farm Bureau's policy offerings cater to those looking for permanent or temporary coverage with the option to add riders for customization. Those who value flexible coverage and premium options and prefer working with a local agent for their insurance needs may find this insurer appealing.

Michigan Farm Bureau may not offer specific policy types, like universal life insurance. If you're looking for similar options, we recommend checking out other life insurance companies, such as State Farm or MassMutual, depending on your precise needs and preferences.

Michigan Farm Bureau only offers coverage within the state, so there may be better choices for individuals residing elsewhere. However, there are many other reputable insurance companies available nationwide that offer a variety of policy options at competitive rates. Trustworthy companies like Globe Life and Mutual of Omaha are worth considering.

We suggest that you carefully consider your options when it comes to life insurance, as it is a substantial investment. MoneyGeek's Michigan Farm Bureau life insurance review can aid you in determining whether the insurer is right for you.

At a Glance: Michigan Farm Bureau Life Insurance

Michigan Farm Bureau



Online quotes and payment options


Offers Return of Premium


Receives fewer complaints



Only available in Michigan


Limited policy options


Limited information available on website


Founded in 1949 by a group of farmers, Michigan Farm Bureau Insurance has been serving the state ever since. As a statewide provider, it offers specialized insurance products tailored to meet the unique needs of Michiganders. With a vast network of over 800 associates and 450 agents operating across all regions of the state, the provider ensures that no one is left without adequate coverage.

The National Association of Insurance Commissioners (NAIC) reported that the company received no complaints for individual life insurance claims in 2022. This speaks volumes about the company's commitment to providing exceptional customer service and prompt issue resolutions.

Michigan Farm Bureau offers the following products:

  • Level Term Coverage
  • Whole Life Insurance
  • Guaranteed Coverage

Michigan Farm Bureau provides level term coverage that protects your mortgage, funds buy-sell agreements and secures loans. On the other hand, whole life insurance offers lifelong protection with an accumulated cash value feature. Along with these options, the provider's exceptional customer service, competitive pricing and financial stability make it a dependable choice for protecting your loved ones in the event of your death.

Compare Life Insurance Rates

Ensure you’re getting the best rate for your life insurance. Compare quotes from top providers to find the most affordable life insurance coverage for your needs.

Insurance Rates

Key Takeaways

Michigan Farm Bureau offers a Return of Premium term policy, which refunds all payments made tax-free at the end of the term.

Policyholders of this insurer's whole life insurance products can potentially receive dividends if they are issued, as they are considered participating policies.

Adding riders insurance to a policy from Michigan Farm Bureau can provide you with various benefits.

Michigan Farm Bureau Policy Options Explained

The 2022 Insurance Barometer Study by the Life Insurance Marketing and Research Association (LIMRA) revealed that approximately 68% of people with financial dependents feel more secure with life insurance. To find the most suitable policy for you and your loved ones, you can explore the options provided by Michigan Farm Bureau.

Term Life Insurance Options From Michigan Farm Bureau

A key benefit of term life insurance is its affordability and consistent coverage and premium amounts for a set period. This type of insurance can help cover expenses, such as mortgages, business debts, college tuition for dependents and more.

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    Level Term Coverage

    Michigan Farm Bureau's level term coverage can protect your mortgage, provide collateral for a loan and even fund a buy-sell agreement. By paying a fixed premium, you can enjoy coverage for the chosen term without worrying about increased costs until the term ends. You may also be able to convert your plan to a permanent policy without underwriting.

    Michigan Farm Bureau also provides a Return of Premium term policy, allowing you to receive all funds paid tax-free at the end of the term, except for rider or rated premiums. You can choose from a range of term options, including 5, 10, 20 or 30 years. If the insured passes away during the chosen term, the beneficiary will receive the coverage amount. If the policyholder survives the term, they can opt to discontinue the coverage or pay an increased premium to continue it.

    Michigan Farm Bureau's term life insurance is available to individuals aged between 18 and 70, with term duration options depending on the client's age. This coverage ensures the protection of your financial obligations and loved ones in the event of an unexpected tragedy, providing peace of mind.

For individuals with a limited budget, term life insurance is a favorable option as it is generally cheaper than other policy types. Furthermore, it is suitable for those who require coverage for only a specific period of time.

Whole Life Insurance Options From Michigan Farm Bureau

Whole life insurance will cover you until death as long as it's purchased within the eligible age range. This type of insurance often features a cash value component that grows over time and can be used to cover expenses like tuition fees or buying a new home or car.

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    Whole Life Insurance

    Michigan Farm Bureau's whole life insurance policies offer flexibility in choosing a premium payment structure that best suits your financial goals. You can opt for a single premium policy or select one that allows payments up to age 100 or anywhere between. With guaranteed coverage, you can receive a death benefit for as long as you live, provided you continue to pay your premium and any outstanding loan interest.

    If you decide to discontinue premium payments, you can make use of the reduced paid-up feature and still secure a guaranteed death benefit. This policy is ideal for individuals up to the age of 85. Additionally, you have the option to access cash value by surrendering funds or taking out a loan without needing to work with a bank lender.

    Michigan Farm Bureau's whole life policies are participating policies, which means they are eligible for a dividend if one is issued. You can opt to take the dividend as cash, use it to reduce your premium or redeposit it into your policy to purchase more insurance.

For individuals seeking lifelong insurance coverage and with young dependents, whole life insurance is a favorable choice. With access to living benefits, you can use the cash value component and dividends to finance certain expenses.

Final Expense Insurance Options From Michigan Farm Bureau

Final expense insurance is a type of policy that provides financial assistance to cover end-of-life expenses, particularly for older adults or senior citizens.

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    While Michigan Farm Bureau does not feature a dedicated final expense insurance policy on its website, its whole life insurance policies offer guaranteed coverage and death benefits. As long as the policyholder continues to pay their premium and any outstanding loan interest, this can be a valuable option for those seeking to ensure their loved ones are financially supported for funeral expenses and other end-of-life costs.

Final expense insurance is intended to ease the financial burden on loved ones by covering end-of-life expenses, such as burial costs. This type of coverage is particularly suitable for buyers with relatively poor health or those requiring less coverage.

Compare Life Insurance Rates

Ensure you’re getting the best rate for your life insurance. Compare quotes from top providers to find the most affordable life insurance coverage for your needs.

Insurance Rates

Michigan Farm Bureau’s Life Insurance Riders

Michigan Farm Bureau allows its insureds to personalize their policies by adding life insurance riders, which are optional features that can be added to the base policy to better fit their specific needs.

Michigan Farm Bureau's website offers limited information about its life insurance riders. However, it does mention that policyholders can add riders to a policy to provide various benefits, including waiving premiums for total disability, securing future insurability for children and doubling coverage in the event of accidental death.

How to Get Michigan Farm Bureau Life Insurance

Once you have weighed the pros and cons of each Michigan Farm Bureau policy type, you may purchase your preferred one. If your application is denied, we provide a step-by-step outline to offer guidance through that process.

How to Buy Life Insurance From Michigan Farm Bureau

Do Your Research

We recommend exploring the different available plans before selecting your policy from Michigan Farm Bureau. You can visit its website or contact a representative at 800-292-2680 for detailed information and guidance. By making an informed decision, you can ensure your family's financial security.

Compare Quotes

It's crucial to carefully assess the premiums of different insurance providers, as they can vary significantly. The cheapest option may not provide adequate coverage that meets your needs. Your age, gender, lifestyle, medical history and present health condition may also considerably impact your rates. Take a thoughtful approach and compare your options to select an insurance provider that caters to your requirements while offering a reasonable premium.

Health Check

Michigan Farm Bureau's website does not explicitly mention whether it requires medical exams for approval. It's advisable to contact an agent before submitting your application to make sure everything is clear on the requirements.


Once your application is approved, you will receive your policy. Take the time to thoroughly review the terms and conditions and note any queries or concerns that arise. Discuss these with your agent to ensure you clearly understand your policy's coverage and limitations.

What to Do if Michigan Farm Bureau Insurance Denies You Coverage

Contact Your Broker

We strongly recommend that customers reach out to a Michigan Farm Bureau agent to understand why their application was not approved. By doing so, you can stay informed and make necessary adjustments to ensure the approval of your application.

Lifestyle Changes

Improving your health can increase the likelihood of obtaining life insurance, and it may even result in lower rates. This creates a win-win scenario where you benefit from better health while also enjoying more affordable premiums.

Explore Other Options

If your initial application is unsuccessful, other insurance providers may be worth considering. Some policies may have fewer requirements and not require a medical exam, but it's important to note that the costs may be higher, and the coverage could be limited. Therefore, take a thoughtful approach, compare the options and select an insurance provider that meets your requirements at a reasonable price.

Frequently Asked Questions About Michigan Farm Bureau Life Insurance

We've compiled a list of frequently asked questions about Michigan Farm Bureau life insurance to help you navigate the process of purchasing life insurance.

Can you borrow from your Michigan Farm Bureau life insurance policy?
What’s the maximum amount of life insurance coverage available from Michigan Farm Bureau?
Do life insurance policies from Michigan Farm Bureau pay dividends?
Can you get life insurance from Michigan Farm Bureau if you have cancer?
Do life insurance policies from Michigan Farm Bureau cover death by drug overdose?
Do life insurance policies from Michigan Farm Bureau cover death by suicide?