State Farm Life Insurance Review


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Updated: April 26, 2025

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Key Takeaways

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State Farm ranks 12th overall for affordability with average rates of $657 per year or $55 monthly for most.

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State Farm scored first overall for overall customer satisfaction and buying process in the nation.

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In terms of coverage options, State Farm ranks 10th overall due to only offering term options and guaranteed life insurance with very limited selections.

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State Farm Life Insurance Ratings

Overall we rated State Farm as the 11th best life insurance provider in the country. While the company has the best customer service ratings in the nation, they lack exceedingly in affordability and coverage options when compared to other providers.

Overall Score6611
Affordability3012
Buying Process101
Customer Satisfaction201
Coverage610

State Farm Life Insurance Cost

Depending on your unique profile and the coverage you want, State Farm term life insurance can cost anywhere from $149 per year to up to $40,622 annually. So, below we've summarized costs in a filterable table for you to compare pricing that is more personalized to you.

100K$12$149
100K$19$230
100K$15$179
100K$25$299
100K$12$149
100K$19$230
100K$15$179
100K$25$299
100K$14$173
100K$23$280

State Farm Life Insurance Custonmer Reviews and Sentiment

State Farm has a great customer service reputation and earned our top spot in the nation. For four straight years, they have won 1st place for J.D. Power's individual life insurance customer service study from 2020 to 2024.

State Farm Life Insurance Coverage Options

State Farm only directly offers term and guaranteed life insurance options, which is much less than most major providers. Coverage choices are also a lot more limited with only 5 limits to choose from for both policies and only 3 terms for term life plans. Below you can review the selections and restrictions for both options.

Coverage Category
Coverage Limits
Coverage Term Length
Restrictions

Term Life Insurance

$100,000, $250,000, $500,000, $750,000, $1 million

10,20,30

Only Insures up to age 75

Guaranteed Whole Life Insurance

$10,000-$15,000 in $1,000 increments

Permanent

Only Insures between the ages of 45 and 80

State Farm Life Insurance Riders

State Farm offers the following life insurance riders for their policies:

  • Children's Term Rider: Provides temporary insurance for eligible children until they turn 25, with a maximum coverage of $20,000 per child.
  • Select Term Rider: Offers term life insurance up to age 95 with level premiums for 10, 20, or 30 years.
  • Level Term Rider: Provides additional term coverage on either the insured or an additional insured
  • Flexible Care Benefit: Allows access to a portion of the death benefit while the insured is chronically ill and receiving long-term care.
  • Accidental Death Benefit: Pays an additional death benefit if the insured dies in an accident.
  • Payor Insurance: If the policy owner dies or becomes disabled, this rider waives premiums on the policy until the insured child reaches age 25
  • Guaranteed Insurability: Allows the policy owner to purchase additional coverage at certain ages or life milestones without a medical exam.
  • Estate Preservation: Offers an additional death benefit to help with tax planning needs in the first four years of the policy.

State Farm Life Insurance Review: Bottom Line

Overall, while State Farm life insurance has a great reputation, it's rates and lack of coverage options make it not the ideal option for coverage. So we recommend searching elsewhere and comparing around to find a better deal and company.

State Farm Life Insurance: FAQ

Below we've answered some frequently asked questions about state Farm life insurance:

Is State Farm life insurance good?

How much does State Farm life insurance cost?

What are State Farm's life insurance payout methods?

How We Rated State Farm Life Insurance

We rated life insurance companies based on a profile for an average weight and height for a  40-year-old male with good health and no smoking history. We broke out scoring into 3 scoring areas:

  • Affordability (60% of Score): We gauged overall affordability for our base profile along with other combinations of age, weight, term length, coverage level, and smoking history for term policies.
  • Customer Satisfaction (30% of Score): Using industry study ratings and buying processes sentiment from forums and average quote process times derived from testing from our team.
  • Coverage Selection (10% of Score): The larger variety of life insurance options offered in addition to ridersscores a provider higher for this category.

About Mark Fitzpatrick


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Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like 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!

Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.


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