Cholesterol. Total cholesterol must be under 175
Driving record. No moving violations in the past two years, no DWI/DUI ever
Family history. No family history of cancer or heart disease
Lifestyle. Must take part in routine, vigorous exercise
finder.com’s rating: 4.5 / 5.0
18 to 75
$100,000 to $3,000,000
Depends on policy
Medical Exam Required
|Free Quote||Online form, phone.|
|Insurance Products||Term, Whole, Universal, Variable|
|Issue Age||18 to 75|
|Coverage Amount||$100,000 to $3,000,000|
|Term Lengths||10, 20, and 30 years|
|Cost||As low as $15.02 per month|
|Medical Exam Required||Depends on policy|
|Ways To File A Claim||Phone, Online.|
|State Availability||Not available in MA, NY or WI|
|Customer Service Options||Phone, Online account.|
|Policy Riders Offered||Yes|
Julia Cameron is a writer and editor who has experience in finance, mergers and acquisitions, content marketing and immigration law. She has a passion for interior design and an affinity for Old Florida, where she lives with her family.
If you’re very healthy and live an active lifestyle, State Farm might be perfect for your needs. The company values its customers and offers unbeatable customer service and overall satisfaction. However, if you have any pre-existing conditions or want a more affordable option, you should consider looking elsewhere.
Despite its massive size and extensive network of agents, State Farm keeps it simple with three types of life insurance. Term, whole and universal life insurance policies are available with additional riders and flexible options to get you the coverage you need. The company did offer variable life insurance products in the past, but the lineup was discontinued in 2008. Here’s what coverage you can expect from State Farm life insurance:
Term life insurance is State Farm’s most affordable and straightforward type of policy. These plans offer a predetermined amount of coverage for a set period of time, along with monthly payments that don’t change for the life of your policy. Policy coverage is available in 10-, 15-, 20- and 30-year terms and provides a guaranteed benefit payout starting at $50,000. After your policy expires, either pay more for your current term coverage or convert to a permanent policy. Here are the various term life insurance policies that State Farm offers:
State Farm’s whole life insurance policies offer lifetime financial protection while building tax-deferred cash value. Like term life insurance, these policies feature level premiums, but prices are much higher than term plans. It’s ideal for long-term coverage for things like lost income, estate planning or beneficiary payouts. You can borrow from the cash value of your policy, but outstanding loans or interest reduce the amount of your death benefit.State Farm offers two whole life insurance policies:
State Farm’s universal life insurance policies offer flexible, investment-heavy alternatives to permanent life insurance. Tailor your premium amount and frequency to fit your needs. Policyholders have a choice between investment options featuring tax-deferred cash value accumulation. Death benefit payouts and policy loans are also tax-free.State Farm offers the standard universal life insurance policy, along with two others that cover two people:
While State Farm’s life insurance policies are comprehensive, add-ons allow you to tailor your policy with situational coverage and additional protection. Here are the life insurance riders available at State Farm:
Each life insurance provider has different ways to determine your rates, but it never hurts to know what factors influence your premiums. Preferred plus is State Farm’s best rate class, and here’s what you’ll need to be eligible:
State Farm is best known for its industry leading levels of customer satisfaction, but it does have its shortcomings. Here are some pros and cons of State Farm life insurance:
State Farm is not accredited with the Better Business Bureau (BBB) or TrustPilot, but it does have an A- rating on the official BBB website. Despite its high levels of customer satisfaction and positive consumer reviews elsewhere, reviews on the BBB and TrustPilot websites showcase a lot of negativity. However, most of these complaints are about its auto insurance, so take this with a grain of salt.
State Farm does not sell or share your information. Your information will only be shared with your consent and when it is necessary to complete a transaction at your request.
State Farm protects your personal data with physical, electronic and procedural safeguards. They also continually monitor their computer networks and test the strength of their security.
After you’ve been approved for your new policy, register your account online with State Farm. There you’ll be able to review your policy, make changes and set up autopay so you’re sure not to miss a payment.
Filing a claim with State Farm can be done through your agent, online or by phone. Here’s how:
Regardless of which method you choose, here is the information you’ll need to provide:
After your agent receives the notification of death and contacts the beneficiary, they’ll take care of all necessary forms. You’ll be notified of the status of your claim and can manage it online.
State Farm is extremely financially stable and very capable of fulfilling its debt obligations. It received an A++, the highest possible rating from A.M. Best, the most relevant ratings agency in the insurance industry.
State Farm specializes in insurance, but its subsidiaries allow it to offer a wide range of other financial products:
Established in 1922, State Farm began offering auto insurance for farmers, hence its name. Today it offers fire and life insurance among its many other financial products. Ranked 33rd on the 2017 Fortune 500, State Farm has 19,000 agents around the country and prides itself on developing relationships with its customers.
The parent company, State Farm Mutual Automobile Insurance Company, is best known for — you guessed it — auto insurance. However, it uses its many subsidiaries to sell a variety of other financial products. Its widely recognized tri-oval logo subtly represents auto, fire and life insurance.
Before committing to a single life insurance company, make sure to compare your options to save time and money.
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our experts analyze life insurance companies to help you to find the strongest possible policy and premium for your family’s needs. We assess their financial strength, customer satisfaction, policy features and riders. We then give each insurer a score between one and five stars that reflects their offering and reputation in the industry.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.