State Farm Life Insurance

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Perhaps one of the most well known insurance companies in the United States today, State Farm offers many options for life insurance needs that can meet the needs a wide variety of consumers. Specifically, State Farm offers two forms of insurance, term and permanent. These two policy types cover short term and long-term needs differently.

Term Life Insurance

Term life insurance covers a specific period of time, and meets the payment needs of specific short-term expenses, such as debt repayment on a home or car, or educational expenses.

State Farm offers term insurance for 5, 10, 20, and 30 year periods. These policies may be continued through ages 80 to 95 depending on the state in which the covered person resides. The premium on term life insurance increases over time, corresponding with the age of the insured person. The maximum premium, as well as the maximum age of coverage, is regulated by state governments, and therefore, varies.

Permanent Life Insurance

State Farm permanent life insurance offers coverage for ongoing financial needs, such as financial support for family or loved ones, charitable expenses, estate taxes, business expenses, and final costs. Permanent policies typically cover a longer period of time, and the premiums typically remain constant over time.

On whole life policies, clients may pay premiums in lump sums, along shortened time frames, or throughout the period of the policy coverage. Typically, policies have the potential to earn dividends over time, and to accumulate a cash value. Clients may borrow against the cash value of their policy over time, or, access these funds at the point of policy cancellation.

Reliability

Founded in 1929, State Farm has stood as a trusted name in insurance for the better part of a century. Currently, the company carries a "AA" Standard and Poor rating, a rating given to companies based on their ability to pay claims.

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