southern farm bureau life insurance

What southern farm bureau life insurance does

Southern Farm Bureau Life Insurance Company is a private capital stock life insurance company chartered in 1946 and headquartered in Jackson, Mississippi. The company underwrites and distributes a portfolio of life insurance products (whole life, term life, and adjustable-premium variable life), annuities (including the MySecureChoice fixed annuity and a flexible premium deferred variable annuity), and specialized business insurance offerings (Key Person Life Insurance, Business Succession Planning via Buy-Sell Agreements, and Executive Bonus Plans), plus a Children's Term Rider add-on. Operations are built around a proprietary policy administration system managing over 1.33 million policies in force with more than $200 billion of life insurance in force, supplemented by a secure online policyholder portal and variable insurance reporting infrastructure that integrates fund families from T. Rowe Price, Fidelity, and Franklin Templeton.

The company distributes exclusively through a captive network of 3,814 licensed Farm Bureau agents operating in 11 southern states (Arkansas, Colorado, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Texas, and Virginia). Revenue mechanics are recurring in nature, driven by ongoing premiums on in-force life policies, annuity purchase premiums and contract fees, and investment income on the general and separate account portfolios backing those liabilities. Customer segmentation is geographic and vertical-specific, with a primary base of Farm Bureau-affiliated farm and small-business families, and secondary targeting of Gen Z/young adults, women and caregivers, and farm/small-business owners needing succession planning solutions.

The business is privately held with no disclosed parent, institutional investor, or external funding, and has maintained continuous operation for 80 years, holding an A.M. Best A+ (Superior) financial strength rating throughout its history. Marketing is multi-channel but agent-led, combining local community engagement, content marketing through blog and social channels, Life Insurance Awareness Month campaigns, and direct customer service via phone and self-serve portal access.

Name

southern farm bureau life insurance

Legal name

Southern Farm Bureau Life Insurance Company

Website

https://sfblife.com

Company type

Private

Founded year

1946

Operating status

Operating

Short description

Southern Farm Bureau Life Insurance is a privately held, Jackson, Mississippi-based life insurance and annuity underwriter serving Farm Bureau-affiliated families, farms, and small businesses exclusively through 3,814 licensed agents across 11 southern states, managing over 1.33 million policies and $200 billion+ of life insurance in force.

Ownership category

akta.pro rank

Product category

Life Insurance

NAICS

Direct Life Insurance Carriers (524113)

SIC

Life Insurance (6311)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

Keywords

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

Revenue model

1. Life Insurance Premiums: Whole Life and Term Life insurance products generating recurring premium revenue from policyholders. Coverage types include income replacement, debt coverage, college planning, and retirement planning applications.
2. Annuity Products: Annuity products including MySecureChoice and traditional annuities providing steady stream of income in retirement, purchased with lump sum or series of payments.
3. Variable Insurance Products: Flexible Premium Deferred Variable Annuity and Adjustable Premium Variable Life Insurance with investment component and market-linked returns through fund families (T.Rowe, Fidelity, Franklin).
4. Children's Term Rider: Rider product providing $20,000 of level death benefit protection for eligible children, added to existing life insurance policies.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Southern Farm Bureau Life Insurance Company underwrites and distributes life insurance and annuity products — including Whole Life, Term Life, variable life and annuity products, and Children's Term Riders — to Farm Bureau member families and small businesses across 11 southern U.S. states. Products are sold through a captive network of 3,814 licensed Farm Bureau agents and supported via an online policyholder portal for service and premium payments.

Product overview

Southern Farm Bureau Life Insurance Company offers a portfolio of life insurance and annuity products distributed through a network of 3,814 agents across 11 southern states. The core product lineup consists of Whole Life Insurance (permanent coverage with cash value accumulation), Term Life Insurance (affordable coverage for specified periods), and Annuities (retirement income products including variable annuities). The company also provides specialized business insurance products including Key Person Life Insurance, Business Succession Planning, and Executive Bonus Plans, all of which utilize life insurance as a funding mechanism. Additional offerings include Children's Term Riders that can be added to parent policies, providing $20,000 of coverage for eligible children with conversion options.

Differentiator

Problem solved

Functional benefit

Products and services

• Whole Life Insurance Permanent life insurance providing coverage for the policyholder's entire lifetime with a fixed premium and an accumulated cash value component that grows over time. Designed for Farm Bureau families seeking lifelong protection and cash value accumulation.
• Term Life Insurance Affordable life insurance providing coverage for a specified term (typically 10, 20, or 30 years) that pays a death benefit if the insured passes away during the term. Designed for families and individuals needing coverage for a defined period.
• Annuities Insurance products designed to provide a steady stream of income in retirement, purchased with a lump sum or series of payments, helping ensure policyholders do not outlive their savings. Offered to Farm Bureau families and individuals planning retirement.
• MySecureChoice Annuity Annuity product offering flexible premium options and customized retirement income solutions for Farm Bureau policyholders.
• Flexible Premium Deferred Variable Annuity Variable annuity contract allowing flexible premium payments with deferred accumulation and variable investment options through fund families including T. Rowe Price, Fidelity, and Franklin Templeton. Designed for policyholders seeking market-linked retirement growth.
• Adjustable Premium Variable Life Insurance Policy Variable life insurance policy with adjustable premiums offering investment flexibility through various fund options. Combines permanent life coverage with market-linked cash value growth.
• Children's Term Rider Term rider providing $20,000 of level death benefit protection for eligible children, with a convertible option of up to five times the coverage amount into a permanent policy without proving insurability. Added to existing parent life insurance policies.
• Key Person Life Insurance Life insurance coverage designed to reduce the financial impact of losing a key employee by providing funds the business can use during the transition period. Targeted at farms and small businesses.
• Business Succession Planning Business planning service utilizing Buy-Sell Agreements funded with life insurance to ensure smooth ownership transition and protect business continuity for farms and small businesses.
• Executive Bonus Plans Executive compensation arrangement using life insurance to provide clear value and motivation for high-level employees, also serving as a recruiting and retention tool for farms and small businesses.

Quantifiable outcome

• Over $200 billion of life insurance in force, serving 1,330,678 policies
• +1 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• A.M. BestcoreOthersCredit rating agency providing financial strength ratings. A.M. Best assigns A+ (Superior) rating to Southern Farm Bureau Life Insurance Company, recognizing strong capitalization and financial stability.
• Standard Analytical Service, Inc.minorOthersIndependent insurance analytics firm that prepares the Independent Comparative Report (ICR) analyzing SFBLI's relative financial strength and performance against other insurers.
• LIMRAminorOthersResearch organization providing industry data referenced by SFBLI in Life Insurance Awareness Month communications. LIMRA 2024 Barometer Report cited for statistics on life insurance coverage gaps among Americans.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Northwestern Mutual: Leading U.S. individual life insurer with a captive financial advisor network focused on whole life, disability income, and annuities. Comparable to SFB Life through its whole life focus, mutual heritage, and exclusive advisor-driven distribution.
• Mutual of Omaha: Mutual insurance company offering life, disability, Medicare supplement, and related products through captive agents and direct channels. Comparable to SFB Life in its life insurance focus, captive agent distribution, and middle-America customer base.
• Country Financial (Country Life Insurance): Regional insurance and financial services company serving rural and suburban America through captive agents in the Midwest. Closely comparable to SFB Life in its regional focus, captive agent model, and agricultural/rural customer base.
• New York Life: Mutual life insurer and one of the largest U.S. life carriers, offering whole life, term life, annuities, and long-term care through captive agents. Comparable to SFB Life through its whole life emphasis, mutual-style heritage, and agent-led distribution.
• State Farm: Largest U.S. personal lines insurer with a captive exclusive-agent model distributing auto, home, life, and banking products. Closely comparable to SFB Life through its exclusive agent channel, community-focused brand, and life insurance offerings.
• Lincoln Financial Group: Public life insurance and retirement services company with strong variable life, variable annuity, and retirement plan businesses. Comparable to SFB Life through its variable life and variable annuity offerings backed by third-party fund families.
• Globe Life: Public life and supplemental health insurance carrier focused on middle-income Americans, with captive and direct-to-consumer distribution. Comparable to SFB Life through its life insurance carrier role with exclusive agent distribution and similar premium scale.
• MassMutual: Mutual life insurance and financial services company offering whole life, universal life, variable life, and annuities through captive financial professionals. Comparable to SFB Life in product mix and exclusive financial professional distribution.
• American National: Insurance company offering life insurance, annuities, and property/casualty through multiple distribution channels. Comparable to SFB Life through its life insurance and annuity product lineup and overlapping multi-channel agent distribution.

Broad incumbents

• Nationwide: Diversified mutual insurance and financial services company offering life insurance, annuities, retirement plans, and P&C through captive agents and digital channels. Comparable to SFB Life through its life insurance business and exclusive agent distribution, though broader in product portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/southern-farm-bureau-life-insurance-company

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about southern farm bureau life insurance