Insurance

*FARMERS MUTUAL HAIL INSURANCE

Revenue Protection (RP) and Revenue Protection with Harvest Price Exclusion (RPHPE) Revenue Protection (RP) and Revenue Protection with Harvest Price Exclusion (RPHPE) are multiple-peril crop insurance products that are based on the Commodity Exchange Price Provisions (CEPP) prices and protects against production loss, price decline or increase, or a combination of both. To determine the loss guarantee, RP will use the greater of the Projected or Harvest Price. RPHPE insures in the same way as RP, but uses only the Projected Price to determine the loss guarantee. Benefits of RP and RPHE would be:
* Protects against revenue loss caused by low yields and/or low prices
* Flexible and efficient management tool to crop producers
* The Harvest Price is limited to 200% of the Projected Price
* Coverage on basic, optional, enterprise, and whole-farm units where available
* Discounts for producers that insure multiple crops on whole farm units

How RP and RPHE works:
* Establishes a minimum guarantee of revenue per acre
* May select coverage with or without Harvest Price Exclusion
* For the loss guarantee, RP will use the greater of the Projected Price or Harvest Price
* If revenue to count is less than final revenue guarantee, an indemnity is paid.

Yield Protection (YP) / Actual Production History (APH) Yield Protection (YP) and Actual Production History (APH) are multiple-peril crop insurance products that provide protection against losses in yield due to nearly all natural disasters. For most crops, that includes drought, excess moisture, cold and frost, wind, flood, and unavoidable damage from insects and disease. These products guarantee a yield based on an individual producer’s actual production history. If the production to count is less than the yield guarantee, an indemnity is paid.
Benefits of YP/APH:
* Protection against production loss
* Based on a producer’s own production history
* Provides coverage levels ranging from 50% to 85% of the APH in 5% increments
* Provides coverage on basic and optional units. Enterprise and whole farm unit coverage is available in some areas
* Offers a competitive premium
* Subsidized by the Federal Crop Insurance Corporation (FCIC)

How YP/APH works:
* Establishes a guarantee of bushels per acre
* YP Projected Price is determined by futures contracts, and APH price is established by the FCIC
* Pays an indemnity if the production to count falls below the yield guarantee.

Note: Consult with our First State Bank agent to find out what crops can be insutan in specific states and counties. Not all crops in all states are eligible or insurable. Only the insurance policy can give the actual terms, coverage, amounts, conditions and exclusions.

*American Bankers Life Assurance Company of Florida

If you are contemplating entering into a large dollar item purchase for which you will borrow money from a financial institution, credit life might be an advisable option. In the event of the borrower’s death or disability, the loan amount could be matched by insurance. Options might include: Single or Joint Decreasing Term Life, Single or Joint Level Term Life, or Total Disability Credit Insurance. Ask our agent for your options available when borrowing funds.

*Insurance Disclosure
Insurance products are not guaranteed by the Bank or an Affiliate of the Bank. The insurance product or annuity is not a deposit or other obligation of, or guaranteed by, the Bank or an Affiliate of the Bank. Insurance products are not FDIC Insured. The insurance product or annuity is not insured by the Federal Deposit Insurance Corporation (FDIC) or any other agency of the United States, the Bank, or an Affiliate of the Bank.