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8 User Reviews

State Farm is a well-known insurance company. Its high financial strength ratings and industry experience show it is a reliable insurer.

Whether you're looking for term or permanent life insurance, you're likely to find a good fit from State Farm's range of offerings. State Farm may be an especially good fit if you're looking for a survivorship or joint life insurance policy.

View State Farm Life Insurance Reviews

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The Good

  • High Financial Strength Ratings
  • Online Quotes
  • Competitive Term Policies
  • Good Permanent Life Insurance
  • Joint and Survivorship Policies

High Financial Strength Ratings

Since life insurance payouts tend to be large lump sums, you want to choose a financially stable company. High financial strength ratings indicate the likelihood that an insurance company will be able to pay claims and its financial stability.

Competitive insurers all have high financial strength ratings. State Farm is no exception. You can be confident when purchasing an insurance policy from State Farm.

Online Quotes

State Farm's website is also convenient for viewing quotes. After completing a quick online form, you can view term life insurance rate quotes. This ability is common for the industry.

For a quote on a permanent policy, you'll submit your zip code to find an insurance agent in your area. The agent can then help you learn more about the policy and rate. It's rare for permanent life insurance quotes to be online, so State Farm holds to industry trends this way.

Competitive Term Policies

State Farm's term policy selection is competitive for the industry. You can find more traditional policy options (Select Term), return of premium policies, and a no medical exam option.

Return of premium policies give you a lump sum payment of your premium total when your policy finishes its term. This policy also builds cash value that you can borrow against while the policy is in effect.

You can customize State Farm's Select Term and Return of Premium policies with riders. With both policy types, you can add life insurance coverage for a child and a waiver of premium for disability. You can also add coverage for another person or extra coverage for yourself with the Select Term policy.

State Farm's no exam option Instant Answer Term Insurance® offers $50,000 in coverage for ten years or through age 50.

Good Permanent Life Insurance

In addition to a nice selection of term policies, State Farm offers a variety of permanent life insurance options: whole life insurance, universal life insurance, and final expense insurance.

State Farm offers several payment options for its whole life insurance policies. You can select a payment plan to pay for the policy in full over a set number of years. You can purchase the policy as a lump sum or pay a monthly premium through age 100. These flexible options allow you to choose a whole life policy that fits your long-term financial plan.

With State Farm's universal life policy, you can choose between two death benefit options: Basic Amount or Account Value. Since the cash value of a universal life policy changes over time, these options give you flexibility in choosing how the death benefit amount is assessed.

You can include additional coverage or protection for your universal life policy with the following riders:

  • Level term rider (additional coverage for someone else)
  • Children's term rider
  • Guaranteed insurability (add coverage for yourself later without additional underwriting according to rider terms)
  • Waiver of monthly deduction for disability
  • Flexible care benefit (early payout to help cover specified long-term care services or chronic illness)

If you're interested in a smaller amount of coverage, you can benefit from State Farm's final expense insurance. It offers $10,000 of coverage, and you'll pay premiums through age 100.

Joint and Survivorship Policies

State Farm stands out from other insurers for its offering of survivorship and joint universal life policies. These policies cover two people under the same policy. Although other life insurers also offer joint and survivorship policies, they are not common offerings.

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The Bad

  • Not Available in Massachusetts
  • Limited Customer Insight

Not Available in Massachusetts

State Farm has two life insurance companies. However, neither is licensed to sell life insurance in Massachusetts. If you live in Massachusetts, you may need to find another insurance provider.

Limited Customer Insight

State Farm has not received many customer reviews on BestCompany.com. Although this lack of reviews means that general conclusions about customer satisfaction are not available, it is promising that State Farm life insurance reviews are largely positive.

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The Bottom Line

Although additional reviews would give a clearer sense of the customer experience, State Farm life insurance is worth exploring further. It is a reliable insurer with high financial strength ratings and a range of life insurance options.

In addition to term and permanent policies, you can find survivorship and joint policy coverage options. Survivorship and joint policies aren't as commonly offered in the industry, so this offering helps make State Farm stand out as a life insurance company.

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Star Rating

4.5

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8 Reviews

Review Breakdown

5 grade

63%

4 grade

25%

3 grade

13%

2 grade

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1 grade

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Eddie Rios Ogden, UT

State Farm has been a great life line for personal term life insurance. They have offered great rates and do consistent follow up to ensure my life insurance needs are still met and that coverage is sufficient. It takes all the worry out of long term planning. State Farm has indeed refined their process and the customer certainly is the beneficiary of that.

1 year ago

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Kaitlyn Rios Ogden, UT

State Farm has been an excellent source for my extra life insurance policy. Great low rates and comprehensive coverage to avoid financial issues should something tragic happen. They have insurance experts that ask all the right questions.

1 year ago

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Lynn White Gilbert, AZ

State Farm is very reliable and reputable with high ratings for finiacial stability. Policy prices are very competetive. Life insurance coverage is excellent - no fine-print "exceptions" that leave people out in the cold and no undiclosed future rate increases.

2 years ago

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Brittany Wilkinson Herriman, UT

I have been very satisfied with my Statefarm Life Insurance policy. I trust Statefarm. I am happy with my premium amount.

1 year ago

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Pam Robello Marysvale, UT

We have 2 policies with them and they are ok. We are thinking of cashing them in as they don't seem to set to pay very well

1 year ago

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Linda Clark Gilbert, AZ

I had term life insurance for many years and finally had to drop it because rates kept increasing and it became too expensive.

1 year ago

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Eli Slesk Alpine, UT

Insurance options are above average. Working with a local agent is also helpful. Rates are good.

2 years ago

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George Gurnee, IL

They are higher in price but I have Fantaztic service.

3 years ago

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