Whether you're protecting your family's financial future or planning your estate, State Farm has policies for short-term income protection and long-term financial planning. Match your specific goals with the right policy type to ensure adequate coverage.
2026 State Farm Life Insurance Review
State Farm receives a MoneyGeek score of 3.6 out of 5. A $500,000 term policy averages $53 per month for women and $66 per month for men.
Read our comprehensive State Farm life insurance review below to learn more.
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Updated: March 21, 2026
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At a Glance: State Farm Life Insurance
State Farm
MoneyGeek Rating
3.6/ 5
3.3/5Affordability
4/5Customer Experience
3.9/5Coverage Points
Average Monthly Cost
$53 (F); $66 (M)Average costs for 40-year-old nonsmokers with $500,000 20-year term life insurance policy.Max Coverage
$10 million
State Farm Life Insurance Products
Term Life Insurance Options
Term life insurance from State Farm covers you for a set period and focuses on affordability during working years. These policies work great for short-term needs such as mortgage coverage or income replacement. Renewal and conversion options depend on the specific product and state rules.
Select Term Life
Provides 10-, 20- or 30-year level premium periods and can be renewed up to age 95 at higher rates.
Return of Premium Term Life
Refunds base premiums if the insured outlives the initial term. Available for 20- or 30-year terms.
Instant Answer Term
Offers up to $50,000 in coverage with in-office approval and no medical exam for eligible applicants.
Whole Life Insurance Options
Whole life policies from State Farm provide permanent coverage with fixed premiums and cash value growth. These policies suit long-term planning and legacy goals. Several payment structures allow policyholders to choose how long they pay premiums.
Whole Life
Provides lifetime coverage with level premiums and potential dividends based on company performance.
Limited Pay Whole Life
Limited pay life insurance gives permanent coverage with premiums paid over 10, 15 or 20 years instead of for life.
Single Premium Whole Life
Uses one upfront payment to secure lifetime coverage and immediate cash value accumulation.
Guaranteed Issue Final Expense
Provides small coverage amounts for burial and funeral costs with no medical underwriting, usually for ages 45 to 80.
Guaranteed Issue Whole Life
Available only in New York, offering limited coverage amounts with no medical questions.
Universal Life Insurance Options
Universal life policies combine permanent life insurance coverage with flexible premium payments. These policies allow adjustments to premiums and death benefits within policy limits. They are often used for long-term planning where income or coverage needs may change.
Universal Life
Allows flexible premium payments while building tax-deferred cash value.
Survivorship Universal Life
Covers two people and pays a death benefit after the second insured passes away, often used for estate planning.
Joint Universal Life
Covers two people and pays a benefit after the first death, often used for income replacement or business needs.
State Farm's Life Insurance Riders
Life insurance riders are optional add-ons that modify or expand a base policy. You can add riders to extend coverage to family members, waive premiums during qualifying disabilities or allow early access to benefits for long-term care needs.
Rider | Description |
|---|---|
Children's Term Rider | Covers eligible children up to age 25 with up to $20,000 per child under one rider |
Select Term Rider | Extends term protection to age 95 with level premiums for selected periods |
Waiver of Premium for Disability | Waives premiums during qualifying disability periods |
Flexible Care Benefit Rider | Allows access to a portion of the death benefit for long-term care expenses; not available in CA or NY |
Rider availability varies by state and policy type. Contact your agent for specific options in your area.
How Much Is a State Farm Life Insurance Policy?
State Farm life insurance costs vary widely based on policy type, age, health, coverage amount and underwriting requirements. Here's what you can expect to pay for term policies and guaranteed issue whole life insurance from State Farm.
State Farm Term Life Insurance Cost
Data filtered by:
20
40
Female
No
| $100,000 | $20 | $241 |
| $250,000 | $33 | $391 |
| $500,000 | $53 | $641 |
| $750,000 | $74 | $891 |
| $1,000,000 | $95 | $1,141 |
| $2,000,000 | $178 | $2,140 |
State Farm Guaranteed Issue Whole Life Insurance Cost
Data filtered by:
45
Female
No
| $10,000 | $29 | $350 |
| $15,000 | $41 | $489 |
Rates shown are estimates based on our analysis of major insurers. Actual rates vary based on age, health, lifestyle factors, and underwriting. These estimates shouldn't be considered quotes or guarantees of available rates. Contact a licensed agent for personalized quotes and current pricing.
Guaranteed issue life insurance policies tend to cost more per dollar of coverage because they don’t require medical underwriting, while term policies offer lower initial premiums for eligible applicants.
How to Get State Farm Life Insurance
Buying life insurance from State Farm follows an agent-led process designed around personal consultation.
- 1Contact a local State Farm agent
You start by connecting with an agent who explains available policies and state-specific rules.
- 2Discuss coverage goals and policy options
The agent reviews your financial goals, family needs and budget to narrow policy choices.
- 3Complete an application and health questionnaire
You provide personal, medical and lifestyle information required for underwriting.
- 4Complete underwriting requirements, if applicable
Some policies require medical exams or additional documentation before approval.
- 5Review policy approval and finalize coverage
Once approved, you review policy details, select riders and activate coverage.
State Farm Claims Process
State Farm uses a centralized life insurance claims process handled by its Life Claims Operation Office. Beneficiaries should notify State Farm as soon as possible after a death by filing a claim online or by phone. After notification, beneficiaries receive claim forms and instructions within one to two business days.
Once State Farm receives all required documents, it generally processes payments within one to three business days, according to company disclosures. Electronic payments usually arrive within two to three business days, while paper checks can take up to 10 business days.
LIFE CLAIMS CONTACT INFORMATION
Phone: 877-292-0398
Mail:
State Farm Life Insurance Company
Life Claims
P.O. Box 2364
Bloomington, IL 61702-2364
State Farm Life Insurance vs. Other Insurers
The main difference between State Farm and most competitors is the buying process. State Farm requires working with a local agent for nearly every policy, while insurers like Ethos offer fully online applications and instant or same-day decisions for qualified applicants. For buyers who prioritize speed and convenience, that distinction matters more than any coverage detail.
On price, State Farm is on the higher end. A 40-year-old nonsmoking man pays around $66 per month for a $500,000, 20-year term policy with State Farm, compared to approximately $46 per month with Banner Life and Transamerica. State Farm's 30-year term option keeps it competitive for buyers seeking longer coverage, but it doesn't offer the breadth of term lengths that some competitors do.
One of State Farm's strengths is its variety of permanent coverage options. Its lineup of whole life structures, including limited pay and single premium options, gives buyers more flexibility than most direct-to-consumer carriers. For a broader look at how State Farm compares, check the best life insurance and cheapest life insurance companies.
Is State Farm Right for You?
State Farm works well for people who want agent-led planning, permanent life insurance structures and optional riders for family or long-term care needs. It also fits buyers focused on estate planning or those adding coverage for children through a rider. State Farm doesn't fit shoppers who want a fully online purchase process, instant self-service quotes or consistently low term life pricing.
State Farm is one of MoneyGeek’s picks for the best single-premium life Insurance.
State Farm Life Insurance Reviews: FAQ
Is State Farm good?
State Farm scores above average for customer service and affordability but has fewer policy variations than several national competitors.
What are State Farm's life insurance payout methods?
State Farm offers lump-sum payments, scheduled installments, annuities, retained asset accounts and living benefit options, depending on the policy.
Can you convert State Farm term life to permanent coverage?
State Farm allows conversion from term life to permanent policies without new medical underwriting, subject to age limits and policy rules.
Does State Farm sell life insurance online?
State Farm has online information and quote tools, but most policies require working with an agent to complete the purchase.
We scored State Farm on three things: affordability (50%), customer satisfaction (30%) and coverage selection (20%). Affordability scores reflect rate comparisons across multiple ages, coverage amounts and health profiles. Customer satisfaction draws on J.D. Power rankings and NAIC complaint data. Coverage selection weighs product variety and available riders. These factors were combined to produce State Farm's overall MoneyGeek Score of 3.6 out of 5.
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About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
sources
- State Farm. "Life Insurance Claims." Accessed March 20, 2026.
- State Farm. "Term Life Insurance." Accessed March 20, 2026.
- State Farm. "Universal Life Insurance." Accessed March 20, 2026.
- State Farm. "Whole Life Insurance." Accessed March 20, 2026.