Retired dairy farm technician, Dave Prutsman, is a part-time
farmer in Troupsburg, N.Y. Dave works with Farm Credit office assistant Mary Fairchild. Dave and his wife enrolled in credit life insurance on a long-term loan they
took out many years ago. Dave shared his experience with Financial Partner magazine:

“My wife, Ellen, and I took out a long-term loan in 1992.We enrolled in credit life insurance when we signed the loan documents. At the time, Ellen and I thought it was worth the money and the right thing to do.

“As it turned out, Ellen died of cancer in 2003. The credit life insurance policy paid the remaining loan balance in full.With expenses from her illness, in particular, the loan was something I did not have to worry about.

“Today, at age 65, I have a small loan to buy, care for and sell heifers. My partner and I rent pasture and a barn for our animals. I have always enjoyed the cattle side of agriculture. Credit life insurance helped to protect my net worth and financial ability to be a part of agriculture.

“It can be pretty cheap insurance if something happens.”