Farmers Life Insurance Company holds an A (Excellent) rating from AM Best and is part of the Farmers Insurance Group — backed by Zurich Insurance Group, one of the world’s largest insurance organizations. Farmers Life focuses on the independent agent channel with a straightforward fixed annuity lineup, most notably the Safeguard Plus MYGA series, which has gained traction among rate-focused buyers looking for A-rated financial strength combined with competitive guaranteed yields.
This review covers Farmers Life’s financial strength, annuity product lineup, and contact information.
Farmers Life at a Glance
| Detail | Information |
|---|---|
| Full Legal Name | Farmers Life Insurance Company |
| Parent Company | Farmers Group, Inc. (Zurich Insurance Group) |
| Headquarters | Woodland Hills, California |
| AM Best Rating | A (Excellent) |
| Products Offered | MYGAs (Safeguard Plus series), Fixed Annuities |
| States Available | Most states (varies by product) |
| Minimum Premium | $5,000 (varies by product) |
Farmers Life’s Financial Strength
Farmers Life carries an A (Excellent) from AM Best, reflecting the institutional backing of Zurich Insurance Group — a Swiss-based global insurer with over $400 billion in total assets worldwide. The Farmers brand has deep recognition among U.S. consumers, particularly in the Western states where Farmers Insurance has its strongest distribution presence.
While Farmers Life is primarily known for its auto and homeowners insurance through the Farmers captive agent channel, its MYGA products are distributed through the independent agent channel — making them accessible to buyers who don’t have an existing Farmers agent relationship.
What Types of Annuities Does Farmers Life Offer?
- Multi-Year Guaranteed Annuities — Safeguard Plus Series: Farmers Life’s Safeguard Plus MYGA series is the company’s primary annuity offering in the independent channel. Available in multiple term lengths, it provides a guaranteed fixed rate for the full contract term with no market exposure. Rates are frequently competitive within the A-rated tier, making Farmers Life worth including in multi-carrier comparisons.
Farmers Life MYGA Rates
Current Farmers Life MYGA rates from our live rate feed:
Current MYGA Rates
Live rates from AnnuityRateWatch · Rates updated March 26, 2026
| Product | Term | Rate (APY) | Min Premium | Last Rate Change | |
|---|---|---|---|---|---|
|
Farmers Safeguard Plus 3
AM Best B++ |
3 Years | 5.3% | $10,000+ | Oct 7, 2025 | View Details → |
|
Farmers Safeguard Plus 5
AM Best B++ |
5 Years | 5.65% | $10,000+ | Oct 7, 2025 | View Details → |
|
Farmers Safeguard Plus 7
AM Best B++ |
7 Years | 5.6% | $10,000+ | Oct 7, 2025 | View Details → |
|
Farmers Safeguard Plus 10
AM Best B++ |
10 Years | 5.7% | $10,000+ | Oct 7, 2025 | View Details → |
Rates apply to standard products. State availability varies. Not an offer or solicitation. Always verify current rates before purchasing.
Who Is Farmers Life Best For?
- MYGA buyers who want A-rated financial strength with competitive yields: Farmers Life offers solid A-rated backing with Safeguard Plus rates that compete well against peers in the same rating tier. For buyers who want to stay within the A-rated category while maximizing yield, Farmers Life belongs in the comparison.
- Buyers in Western states familiar with the Farmers brand: Farmers Insurance’s strong regional presence in California, Texas, and the Western U.S. means many buyers have existing familiarity with the brand, which can add comfort when evaluating their annuity products.
- Independent agent channel buyers: Farmers Life’s MYGA products are available through independent agents — any independent annuity specialist can present Safeguard Plus alongside competing products for a true apples-to-apples rate comparison.
Contact Farmers Life Insurance Company
| Contact Method | Details |
|---|---|
| Website | www.farmerslife.com |
| Customer Service | 1-888-827-5433 |
| Mailing Address | Farmers Life Insurance Company 3 Parkway N, Suite 500 Deerfield, IL 60015 |
| Hours | Monday–Friday, 8 a.m.–5 p.m. CT |
Compare Farmers Life Against Other Carriers: My Annuity Store compares Farmers Life alongside Athene, MassMutual, F&G, Symetra, and 20+ other top-rated carriers. Get a free comparison quote or call 855-583-1104.
