F & T / Columbian Mutual

Since its founding by the National Grange in 1912, Columbian Mutual / Farmers and Traders Life has expanded beyond rural America to deliver a full line of traditional life insurance and annuity products to people from all walks of life.

Effective on October 1, 2007, Farmers and Traders Life Insurance Company based in Syracuse, New York, merged into and became a part of Columbian Mutual Life Insurance Company of Binghamton, New York. Columbian Mutual, licensed in all fifty states is the parent company of the Columbian Financial Group of Companies. The combined organization now has assets in excess of $1 billion and a strong surplus position which exceeds $70 million.

Farmers and Traders policyholders become policyholders of Columbian Mutual and their policy provisions will not change. Employees will be maintained in both Syracuse and Binghamton, and the new organization will continue to service both their new and existing policies and agents.

Here are some products the company offers:

WHOLE LIFE INSURANCE

Available in: CT, DC, DE, FL, GA, IL, IN, KS, MA, MD, ME, MI, MN, MO, NC, NH, NJ, NY, NV, OH, OK, PA, RI, SC, TN, VA. VT, WI, WV

  • Insurance issue ages 0 through 75
  • Premiums payable to age 85 (premiums and cash values higher than Flagship I)
  • Minimum amount $5,000
  • Coverage to age 100
  • Fully underwritten
  • Available riders (subject to state approvals):
    • Waiver of Premium
    • Accidental Death Benefit
    • Payor Premium
    • Accelerated Death Benefit
    • Term: Insured, Spouse, Child
    • Paid-Up Additions (level and single)

TERM LIFE INSURANCE

Available in: CT, DC, DE, FL, GA, IL, IN, MA, MD, ME, MI, MO, NC, NH, NY, OH, PA, RI, TN, VA, VT, WV

  • Insurance issue ages:
    • 18 through 70 for 10-year term (18 through 69 in IN)
    • 18 through 65 for 15-year term (18 through 62 in IN)
    • 18 through 60 for 20-year term (18 through 53 in IN)
  • Premiums and coverage payable to selected term
  • Minimum amount $50,000
  • Fully underwritten; preferred rates available $100,001+
  • Available riders (subject to state approvals):
    • Waiver of Premium
    • Accidental Death Benefit
    • Accelerated Death Benefit
    • Term: Spouse and Child

SENIORS INSURANCE

Available in: CT, DC, DE, FL, GA, IL, KS, MD, ME, MI, MO, NC, NH, NJ, NV, NY, OH, OK, PA, RI, SC, TN, TX, VA, WI, and WV.

  • Insurance issue ages 50 through 80 (50 through 75 in Missouri and New York, 50 through 78 in Kansas, New Jersey, Pennsylvania and West Virginia)
  • Premiums payable to age 121
  • Amounts $2,000 ($5,000 Kansas and Pennsylvania) through $25,000
  • Guaranteed issue underwriting
  • Available riders: none
  • Modified death benefit – Full life insurance benefits are payable after a modified benefit period of three years beginning as of the policy effective date. There are some state variations:
    • Kansas and Pennsylvania policies have fixed graded benefits over the modified benefit period of three years.
    • Missouri, New Jersey, and West Virginia policies have a modified benefit period of two years.
    • If death occurs during the modified benefit period, all premiums paid during the initial period are refunded, plus 5% interest for all policies (except Kansas and Pennsylvania). The full face amount of the policy will be paid if death occurs after this initial period or at any time if the cause of death is accidental bodily injury.

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