Insurance is really about mitigating risk. Some risks you can’t eliminate, but you certainly can lower the risk. That’s why Security Financial Bank wants to help protect you from risks that could harm your future and the future of the ones you love. Whether it is for your farm, your business, or your life, we provide insurance so you don’t have to worry about the unexpected.
Multi-Peril Crop Insurance (MPCI)
With all the uncertainties in farming today, SFB can provide you with multi-peril crop insurance to protect your farm from a wide range of perils. This crop insurance can provide revenue protection against losses due to both lower yields and/or price decreases. Our licensed crop insurance agents have many years of experience helping farmers manage the risks in their farms' cropping operation with the use of multi-peril crop insurance and crop-hail insurance. We can offer individual plans, as well as area plans. These premiums are highly subsidized by the Federal government and are very affordable.
MPCI Spring Crops (such as corn, soybeans, oats, and forage seeding)
- Sales Deadline – March 15
- Production Reporting Date – April 29
- Acreage Reporting Date – July 15
- Premium Billing Date – August 15
MPCI Fall Crops (such as forage production)
- Sales deadline – September 30
Hail damage can be devastating and can happen at any time and without warning. Crop-hail insurance protects your crops against losses from hail, certain fire, and transportation on an acre-by-acre basis at the level you choose up to the value of the crop.
- Sales Deadline - No specific date, but no later than midnight prior to the day hail occurs
- Premium Due Date – August 15 for cash discount, otherwise October 30
Dairy Revenue Protection (DRP)
Dairy Revenue Protection is an area-based revenue product that is designed to insure against unexpected declines in the quarterly revenue from milk sales relative to a guaranteed coverage level. The quarterly insurance periods cover a three-month period and can be sold up to five quarters, with the exception of the last sales period.
There are two pricing options available for each endorsement. The expected revenue is based on futures prices for milk and dairy commodities and the amount of covered milk production elected by the dairy producer. The covered milk production is indexed to the state or region where the dairy producer is located.
The final revenue guarantee is based on expected yield multiplied by expected price (also protection factor and share) along with the coverage level selected.
Expected milk yields are based on state-level National Agricultural Statistics Services (NASS) estimates of milk production per cow in the state or pooled production region.
At the end of the insured quarter, if actual milk revenue is below the revenue guarantee, the insured will receive an indemnity payment for the difference between the actual milk revenue multiplied times the share and protection factor. Dairy Revenue Protection is area-based coverage.
Livestock Gross Margin-Dairy (LGM)
LGM-Dairy is another opportunity for dairy producers to mitigate risk, especially during challenging economic times. This insurances protects against the loss of gross margin between milk price and feed cost.
Return Of Premium Term Life
Wish you could have your premium back if you don’t need the insurance? A return of premium term life insurance policy does just that. When the term of the life insurance policy is up and you are (thankfully) still alive, you get the amount you put in as premiums returned to you (excluding rider and substandard premiums). Or you could exchange the premiums to a permanent paid up policy.
Term life insurance guarantees payment of a death benefit during a specific time period, such as 10, 20 or 30 years. Meet with one of our licensed agents to find out which period is best for you.
Are you looking for security that you and your loved ones will be covered for your entire lives? With whole life insurance, there are a variety of options available to provide the security you seek and protect your future.
As long as you pay premiums, your beneficiary will receive the benefit amount upon death. The policy also builds cash value from part of the premium that is being invested.
Disability Income Insurance
Do you have enough money saved to pay your expenses if an accident or illness prevented you from working? Disability income insurance can help cover monthly expenses, such as your mortgage, auto payment, groceries and other expenses until you get on your feet again.
Meet Our Agents
Durand Market President, Insurance Sales Manager
Mark Chilson, who leads SFB's newly-expanded insurances services, has been a licensed insurance agent since 1985. He joined SFB in 1991 and has served as a relationship manager focusing on agri-business loans. Mark has been SFB's market president in Durand since 2014. Mark is licensed to sell dairy revenue protection (DRP), multi-peril crop, crop-hail, and livestock gross margin-dairy (LGM) insurance. Mark also is licensed to sell term life, return of premium term life, whole life and disability income insurance.
Director of Agriculture Banking
Jenny Jereczek is licensed to sell crop and milk insurance including dairy revenue protection (DRP), multi-peril crop, and crop-hail insurance. Jenny joined SFB in 2009 as a credit analyst and has been an agriculture relationship manager in the Durand Market since 2014. She recently was promoted to Ag Banking Department manager.
*Equal Opportunity Provider.
*Insurance products offered are: NOT A DEPOSIT. NOT INSURED BY THE FDIC OR ANY FEDERAL GOVERNMENT AGENCY. NOT GUARANTEED BY ANY FINANCIAL INSTITUTION. MAY LOSE VALUE.