Crop Insurance is a practical way for all farmers to protect their investment and profits. There is security in knowing that your income will be stabilized if a disaster hits. It is not just another bill to pay. Crop insurance is an investment in your family’s future on the farm. Catastrophic, Multi-peril, Crop revenue coverage are the types of insurances available to protect your crop investment.

• Hail and Fire coverage is based on the actual cash value and paid on a per acre basis.
• Multi Peril protects crops against most unavoidable losses such as drought or flooding. The coverage is guaranteed bushels based on a 4-year average of actual production and a market price selected by FCIC each year.
• Catastrophic protects crops against most unavoidable losses. The coverage is 50% of liability and 55% of FCIC price selection. The premium is a fixed amount per crop, per county.
• Crop Revenue Coverage (CRC) protects against price losses as well as yield losses. CRC protects you from lost revenue caused by low yields, poor quality, or low prices.

Credit Disability/Credit Life is life insurance coverage for auto, personal, commercial, real estate or agricultural loans. It is insurance to protect those who depend on you.

• Credit life insurance coverage provides your loan debt at Bank of Monticello to be paid in full in the event of death. There are different types of life insurance available, such as credit life, annual renewable term and others.
• Credit disability insurance is coverage that provides for payment of benefits based on the amount of monthly loan payment. This benefit may be from an accident or illness. There are many options available.

Disability Insurance is intended to cover possible loss of income.

• Full time employment at least 30 hours per week
• Self-employed individuals
• Age 18-59, classified according to job description
• Minimum earned income of $600.00 per month
• Up to 75% of earned income is insured
• Variety of terms available

Long Term Care can be defined as therapeutic, rehabilitative, maintenance or personal care service, delivered in a setting other than a hospital.

• Persons needing assistance with the ordinary activities of daily life because of functional needs
• Persons needing assistance of supervision because of cognitive needs
• Nurses, therapists, home health aides, and other skilled and unskilled caregivers provide long term care.
• Long term care is provided in settings such as a person’s own home, an adult day care center, an assisted living facility or a nursing home.
  

Life Insurance is used more and more for estate building and retirement planning. Life insurance is the only tool that grows tax deferred and is income tax free to the beneficiaries. In retirement planning most life insurance contracts are FIFO (First in First out). Withdrawals are tax free until you exceed the premium. There are many different reasons to consider purchasing life insurance, living benefits along with death benefits. There are two types of life insurance:

• Term insurance is referred to as a temporary insurance. It is a specific dollar amount for a specified term. The term can be annually renewable or a level term of 5-10-15-20 years. Term insurance usually protects for a specific need, such as to cover a debt, college education, or replaces income.
• Permanent insurance grows in cash value and is purchased to also protect a specific need along with growing in cash value, which may be used for retirement income.

  
  There are many different reasons to consider when purchasing life insurance; living benefits along with death benefits. Call Kay A Freitag at (608)-938-2322 or e-mail at kay.freitag@primeviest.com for more information

  Insurance & Investment Products are:
  Not FDIC Insured* May lose Value* No Bank Guarantee
  

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