Life Insurance for Farmers & Agricultural Workers

Protecting Your Family and Farm Business

Farming and agricultural work is rewarding but comes with unique risks — long hours, physically demanding work, and exposure to unpredictable conditions. Life insurance can help protect your family, farm, and livelihood if the unexpected happens.

At Covermate Life, we provide general advice only to help Australian farmers and agricultural workers compare options from leading insurers.

General advice only: This information does not take into account your personal objectives or financial situation. Always read the Product Disclosure Statement (PDS) and seek professional advice before making decisions about life insurance.

Why Farmers Need Life Insurance

Family protection – Ensure your loved ones can maintain their lifestyle and manage farm expenses.
Debt coverage – Mortgages, farm equipment loans, or other financial obligations.
Income replacement – Protects your household if illness or injury prevents you from working.
Succession planning – Supports family or business succession in case of unexpected events.
Health risks – Farming carries a higher risk of injury, long-term illness, and stress-related health issues.

Types of Cover

Life Insurance – Lump sum payment to your family or beneficiaries on death.
Total & Permanent Disability (TPD) Insurance – Provides financial support if you are permanently unable to work.
Income Protection – Replaces a portion of your income if illness or injury prevents you from working.
Trauma/Critical Illness Cover – Pays a lump sum if diagnosed with serious conditions like cancer, heart attack, or stroke.

Premium Considerations for Farmers

Occupation rating – Farming is generally considered a higher-risk occupation, which may affect premiums.
Level vs stepped premiums – Level premiums offer stability, while stepped premiums start cheaper but rise with age.
Health & lifestyle factors – Age, smoking, medical history, and physical demands impact pricing.
Cover through super vs outside super – Many farmers hold superannuation cover, but personal policies may provide more flexibility.

Frequently Asked Questions

1. Can farmers get life insurance if they are self-employed?
Yes. Many insurers provide cover for self-employed farmers, although proof of income and farm ownership may be required.

2. Are premiums higher for farmers?
Yes. Farming is considered a higher-risk occupation, so premiums may be higher compared to office-based jobs.

3. Is income protection important for farmers?
Absolutely. Farming is physically demanding, and income protection can help maintain household and farm finances if you’re unable to work due to illness or injury.

4. Can life insurance help with farm succession planning?
Yes. Life insurance can provide funds to help transfer farm ownership to family members or partners in the event of your death.

5. Do I need trauma cover as a farmer?
Trauma cover can be very relevant due to the higher risk of serious injury or illness in farming, providing a lump sum to cover treatment and recovery costs.

General Advice Disclaimer

This information is general advice only and does not consider your personal objectives, financial situation, or needs. Always review the Product Disclosure Statement (PDS) and seek professional advice before purchasing life insurance.

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