Protect your family with solutions from Nationwide

Solutions for each stage of life

• Beginner Farmer

  Our operation is capital-intensive. How can I protect my family?

  These solutions may help:

  Consider lower-cost temporary life insurance.

  Ensure that your family is better protected from the debts of your farm or ranch. Lower-cost term life insurance is a good option if you want to pay for life insurance during the time when the need is greatest (for example, when your children are younger or while you’re paying a long-term loan). It’s most often available in coverage terms of 10 years, 15 years, 20 years and 30 years.

  Learn why now is the most important time to start saving for your financial future

  Your retirement might seem far off or uncertain, but the small steps you take now can help make a big impact towards your future financial security. Explore opportunities for tax savings while also building a source of financial independence for the day you step aside from your farm operation.

  Diversify your savings with mutual funds.

  Mutual funds can provide you with a growth vehicle that’s independent of your farm or ranch. By saving now using the diversification mutual funds offer, you’ll potentially build a source of future savings that can help you be financially independent from the ups and downs from farming, and help set up the next generation for success when they’re ready to step in.

  
• Established Farmer

  My operation has grown. How do I protect my employees and business?

  These products may help:

  Protect your savings with a fixed indexed annuity.

  Many farmers and ranchers know that there are good years and bad ones. But that doesn’t have to be true for your investments. A fixed indexed annuity offers the potential for investment growth, but it also provides protection from investment losses. Many annuities also protect your savings, providing a balance of protection and growth potential.

  Get permanent coverage with universal life insurance.

  Universal life products are one of the most common types of permanent life insurance. With universal life insurance, your premium payments could be fixed or variable, payable on an annual, semiannual, quarterly, or monthly basis. Some universal life polices can be paid up after a certain number of years. Universal life policies may also allow for cash value to grow within the policy on a tax-deferred basis.

  Protect against future long-term care health expenses.

  One of the many reasons that farming operations fail to make it to the next generation is the cost of long-term care, which can force the sale of land and equipment to pay the bills. One way to combat these often high costs is to have a policy to cover those potential costs.

• Senior Farmer

  I’m considering passing along my operation. How can I transition my land and equipment? How can we generate other income, separate from our farm?

  These products may help:

  Protect yourself and your family with permanent life insurance.

  Permanent life insurance offers multiple tax advantages, including an income tax-free death benefit and tax-advantaged growth potential. It can help protect you and your family, and can uniquely meet important estate planning needs when transitioning your family farm or ranch to the next generation.

  Use or evaluate long-term care coverage.

  Some people think that long-term care covers only nursing home expenses. In reality, half of all long-term care services are provided in the home. For those looking to receive care in their home — or for those who live far from skilled care facilities, making traveling for care a potential necessity — long-term care coverage was developed to help offset the cost of these services.

  Protected income that doesn’t rely on your farm.

  The next generation leading your farm or ranch will have their own income challenges. Generate a level of guaranteed lifetime income separate from your family’s operation with an annuity. While there are many types of annuities, a fixed indexed annuity may be suitable for this situation. It offers protection for your savings along with lifetime income.