"If I hadn't bought, I would have been forced to retire quicker because the bank would've stopped backing me."
A summary of Doug's year
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Doug is just a few years away from retiring and wants to protect his farm knowing full well that a couple of bad years could really affect what retired life looks like for him. He heard about Global Ag Risk Solutions from some friends and at a seminar. He thought it sounded like better protection than what the government crop insurance he'd been using offered, which often meant a loss had to be pretty big before he was in a claim.
Doug just wanted something that works and that he can trust to have his bottom line as a priority even if it means spending a few more dollars on premiums.
He sat down with one of our advisors at his own home to go through his options and to walk through exactly what he could expect from Global Ag Risk including what the claims process would look like.
The options his advisor gave him were based on the historic numbers on his farm and tailored to what Doug wanted and needed out of his coverage.
Average Gross Margin
Doug liked the simplicity of full coverage, and how predictable it was. He trusted that it offered the level of protection he was looking for. He liked that his advisor talked about the other kinds of coverage too so that he could make the best decision for his farm with as much information as possible.
Gross Margin Coverage
It turned out that Doug was right about the coverage. The year was so dry that every ditch down the road was empty, and Doug spent all summer hoping for more rain. It never came, which decimated his yields. All of that and a down market too made for a rough year. Doug ended up in a claim.
Actual Gross Margin
Total Gross Margin Coverage
Actual Gross Margin
Because he had a Global Ag Risk policy at his back, his farm and his retirement were protected. Doug was happy with his coverage and finally found the level of protection he was looking for and an advisor he trusted.