Southern Farm Bureau

What Southern Farm Bureau does

Southern Farm Bureau Life Insurance Company (SFBLIC) is a private capital stock life insurance company founded in 1946 by Ransom Aldrich and headquartered in Jackson, Mississippi. The company provides individual and business life insurance and annuity products to Farm Bureau members and their communities across 11 southern states (Arkansas, Colorado, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Texas, and Virginia). Product offerings include whole life and term life insurance (available in 10, 20, or 30-year terms), fixed annuities (MySecureChoice), flexible premium deferred variable annuities, and adjustable premium variable life insurance, complemented by business-oriented offerings such as key employee insurance, buy-sell agreement funding, executive bonus plans, and a $20,000 children's term rider.

Distribution is exclusively through a captive channel of 3,829 independent Farm Bureau agents, who operate as the sole sales and service interface for policyholders — the company does not offer direct online purchasing. Variable insurance products link to fund families from T. Rowe Price, Fidelity, and Franklin Templeton, with prospectus and performance reporting supported through a dedicated variable reports portal. The underlying technology stack is conventional for a mid-sized life insurer: core policy administration systems, online servicing portals for existing policyholders, and variable product reporting. The company maintains a mobile-responsive website with agent lookup, policy login, premium payment, and blog-based educational content, but no public-facing mobile app, API, or proprietary AI capabilities are documented.

Revenue is generated primarily from recurring life insurance premiums and annuity considerations, with pricing determined through individual underwriting rather than published rate cards. The company has scaled organically over 80 years, growing life insurance in force from approximately $2 billion at the end of the 1980s to $100 billion by 2010 and exceeding $200 billion by 2026, with 1,328,923 policies in force across the operating geography. AM Best affirmed its Financial Strength Rating at A+ (Superior) in 2026 and upgraded its Long-Term Issuer Credit Rating from aa- to aa (Superior), citing consistent year-over-year operating performance and strongest-level risk-adjusted capitalization per the Best's Capital Adequacy Ratio. The company is privately held with no disclosed institutional investors, parent entity, or external funding events.

Name

Southern Farm Bureau

Legal name

Southern Farm Bureau Life Insurance Company

Website

https://sfbli.com

Company type

Private

Founded year

1946

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Southern Farm Bureau Life Insurance Company is a private life insurer headquartered in Jackson, Mississippi, serving Farm Bureau members. It sells whole life, term life, fixed and variable annuities, and business products through 3,829 agents across 11 southern states.

Ownership category

akta.pro rank

Product category

Life Insurance

NAICS

Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Life Insurance (6311)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industries

Level Term Life Insurance (FSAIAAAA), Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH)

Keywords

• Life insurance products
• Annuity products
• Whole life insurance
• Term life insurance
• Variable life insurance

Headquarters

HQ city

Jackson

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Life Insurance Premiums: The company generates revenue through life insurance premiums, including whole life insurance and term life insurance products. Premiums are collected on recurring schedules and represent the primary revenue stream for the company.
2. Annuity Products: Annuity products including flexible premium deferred variable annuities and other annuity offerings provide another revenue stream through premium payments and fee structures associated with the accumulation and distribution phases.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Southern Farm Bureau Life Insurance underwrites and distributes individual life insurance (whole life, term life in 10/20/30-year durations, adjustable premium variable life) and annuity products (MySecureChoice fixed annuity and Flexible Premium Deferred Variable Annuities). It also provides business-oriented life insurance solutions including key employee insurance, buy-sell funding, and executive bonus plans, sold exclusively through a captive independent agent network across 11 southern states.

Product overview

Southern Farm Bureau Life Insurance Company operates as a capital stock life insurance company offering a portfolio of individual and business insurance products across 11 southern states. The core product lineup includes Whole Life Insurance and Term Life Insurance (offered in 10, 20, or 30-year terms) for personal coverage needs, complemented by MySecureChoice Annuity for retirement income planning. Business-oriented offerings include Key Employee Insurance, Business Succession Planning with Buy-Sell Agreements, and Executive Bonus Plans. The company also offers variable insurance products including a Flexible Premium Deferred Variable Annuity and Adjustable Premium Variable Life Insurance Policy with investment options through T. Rowe Price, Fidelity, and Franklin Templeton fund families. Additional products include a Children's Term Rider providing $20,000 of level death benefit protection with conversion options.

Differentiator

Problem solved

Functional benefit

Products and services

• Whole Life Insurance Permanent life insurance coverage with level premiums that includes a cash value accumulation component, providing lifelong protection and savings benefits for individual policyholders.
• Term Life Insurance Affordable life insurance coverage for a specified term of 10, 20, or 30 years that pays a death benefit when the insured passes away, designed for protection during working years.
• MySecureChoice Annuity A fixed annuity product designed to provide a steady stream of retirement income, funded through a lump sum or a series of payments from individual retirement savers.
• Flexible Premium Deferred Variable Annuity A variable annuity contract allowing flexible premium payments with tax-deferred growth potential and variable investment options through affiliated fund families, for individual retirement savers.
• Adjustable Premium Variable Life Insurance Policy A variable life insurance policy with adjustable premiums and investment options through sub-accounts, offering death benefits tied to the performance of underlying investment funds for individual policyholders.
• Key Employee Insurance Life insurance coverage for indispensable employees whose special skills and expertise are crucial to a business's operations, reducing the financial impact of losing key personnel, targeted at business owners.
• Business Succession Planning (Buy-Sell Agreements) Business succession planning funded with life insurance to provide a clear path for ownership transition and protect business continuity when an owner passes away, for small and closely held businesses.
• Executive Bonus Plans Executive compensation arrangements using life insurance to provide value and motivation for high-level employees, serving as a recruiting and retention tool for business owners.

Quantifiable outcome

• A+ (Superior) Financial Strength Rating from AM Best, upgraded to aa (Superior) for Long-Term Issuer Credit Rating in 2026
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Four partnerships are on record, tiered supporting and core.

• T. Rowe PricesupportingTechnology or IntegrationT. Rowe Price is a fund family partner for Southern Farm Bureau Life Insurance's variable annuity and variable life insurance products. The company offers prospectus documents for T. Rowe Price investment options within its variable insurance products.
• FidelitysupportingTechnology or IntegrationFidelity is a fund family partner for Southern Farm Bureau Life Insurance's variable insurance products, offering investment options within variable annuity and variable life insurance contracts.
• Franklin TempletonsupportingTechnology or IntegrationFranklin Templeton provides fund investment options for Southern Farm Bureau Life Insurance's variable insurance products, including variable annuity and variable life insurance offerings.
• Farm Bureau Federations (11 States)coreStrategic or Co-development PartnerThe company operates through a network of diverse Farm Bureau Federations across 11 southern states (Arkansas, Colorado, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Texas, Virginia). This network provides the distribution channel and customer base for the company's products.

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Erie Family Life Insurance Company: Regional life insurer affiliated with Erie Indemnity, sold exclusively through captive agents in the East and Midwest; shares the regional, agent-exclusive model and family-focused product positioning.
• COUNTRY Financial (Country Life Insurance Company): Mutual/affiliated financial services organization offering life, annuity, and P&C products to agricultural and rural customers across the Midwest, with a similar cooperative-style distribution model anchored in local representatives.
• Cincinnati Life Insurance Company: Mid-size mutual life insurer owned by Cincinnati Financial, sold through independent agents in the Midwest and South; comparable size, multi-generational agency relationships, and conservative investment profile.
• AAA Life Insurance Company: Affinity-group life insurer serving AAA membership through a captive/producer network; mirrors SFBLI's reliance on a member-based affinity channel for customer acquisition and life/annuity product cross-sell.
• Auto-Owners Life Insurance Company: Regional life insurer operating through independent agents alongside a P&C parent, similar agent-led distribution and conservative underwriting philosophy; competes for the same middle-market family buyer.
• State Farm Life Insurance Company: Affinity-based life insurer with a captive agent distribution model and broad multi-line presence; serves families across the US with similar mission-driven positioning and cross-sell of life products alongside P&C and banking.
• Farm Bureau Life Insurance of Michigan: Direct sister affiliate within the broader Farm Bureau insurance system, offering life insurance through Farm Bureau agents in Michigan; operates the same affinity-based agent distribution model and is the closest analogue to SFBLI within the Farm Bureau network.
• Shelter Insurance Life Insurance Company: Regional mutual-style life and P&C carrier with independent agent distribution focused on the central US; comparable regional footprint, agent-driven sales model, and multi-line product mix anchored in middle-America families.

Broad incumbents

• Sammons Financial Group (Midland National Life): Mid-size life and annuity group selling through independent agents and broker-dealers nationwide with strong fixed-annuity franchise; overlapping in life and annuity products distributed through independent producers, though with a much larger national footprint.
• Western & Southern Financial Group: Diversified regional financial services group offering life insurance (Western-Southern Life, Columbus Life), annuities, and retirement products through agents and banks; broader portfolio than SFBLI but overlapping core life/annuity market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/sfblic

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Southern Farm Bureau