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7.1

Overall Score

LAST UPDATED: February 22nd, 2022

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.

View Best Life Insurance Companies

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Star Rating

4.7

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25 Reviews

Review Breakdown

5 grade

80%

4 grade

12%

3 grade

8%

2 grade

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1 grade

0%

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joannhendren Richmond, VA

Great company, great coverage and love that you still have a person to actually talk to! Was a customer for 10+ years but sadly change companies because the premiums became a little to high for me and another company offered me a lower rate.

8 months ago

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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.

2 years ago

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Aubrey CA

My husband and I needed a good life insurance policy that we trusted, our friends recommended State Farm and we are SO grateful that we chose them, great rates and amazing customer service.

8 months ago

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Daniel Cebrero Henderson, NV

State Farm offers maximum coverage but at a price. It might be a bit more expensive than other insurance companies but it’s service is unmatched. They always took care of my collisions and took care of them in a timely manner

9 months ago

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Alexandria Lekberg Chesterfield, VA

We have been a customer for over 20 years and they are a terrific brick and mortar business! I say that because I have stopped by at anytime to ask questions about my policy. I prefer the policy that you pay for 20 years and then it pays for itself. It’s amazing and you can gift it to your kids so they have life insurance forever and it’s paid for! We love our universal policy. I love my agent here in Chesterfield VA. They have competitive pricing. I have been a customer with their life insurance since 2009.

1 year ago

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Jmarsh Macomb, MI

State Farm has been a local company in the small town I grew up in and employs local community members, thus, my family has trusted them to draft up life insurance policies to cover the unforeseeable future. We take comfort in the small town experience run by a major company. We have always been well respected and have never had any issues with State Farm. I have been a satisfied customer investing in life insurance, rental insurance, and car insurance.

1 year ago

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Audrey Macfarlane Dallas, TX

State Farm has good policies in place, and all of their agents have always been so helpful. I love their prices and the coverage you get is great quality, really impressed.

8 months ago

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Shopman Herriman, UT

State Farm life insurance is well priced. We received good customer service. When our policy was up for renewal, they met with us to discuss all our options.

8 months ago

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Samarra Miller Fort Lauderdale, FL

I was searching For some whole life insurance and decided to start with State Farm the rates were pretty good customer service was good If I had to suggest someone to go to State Farm I would great customer service

9 months ago

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Rainy Chastine Fayetteville, GA

We have used Mark G In Peachtree City GA for over 20 years and could not be happier with the one on one customer service. Mark & his team really go the extra mile. They make sure their clients are up to date on new laws & changes in policies or even ways we can save money. They truly are “ Good Neighbors!

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.

2 years 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.

3 years ago

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Julia UP Southbury, CT

In my experience they helped me choose the coverage that was right for my family. They walked me through step by step so I was confident in my decisions. I would recommend them to everyone

1 year ago

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adrian avram Tampa, FL

I had an insurance for my car and my experience with competitive prices for life insurance, very friendly customer service and local branches every big city easy to talk with human reps

1 year 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.

2 years ago

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Katie Strom Winter Garden, FL

It's true, state farm is like a good neighbor! Really friendly and helpful to all my needs

7 months ago

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Sirrah Harris San Diego, CA

Great customer service, and they got me exactly what I was looking for in a reasonable time.

8 months ago

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J B Sandy, UT

State Farm is always so easy to work with. Thanks for your great customer service.

8 months ago

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April Henry Adrian, GA

Prices are reasonably priced and their website is easy to use. Also friendly customer service

7 months 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

3 years ago

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Erinmarie Xian Ellicott City, MD

I was under my mothers Umbrella plan until I aged out. When I tried talking to State farm to setup my own policies I felt they were really pushy.

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.

2 years 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.

3 years ago

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Michael Kline Mesa, AZ

State Farm is wonderfully set up, great Customer service

8 months ago

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George Gurnee, IL

They are higher in price but I have Fantaztic service.

4 years ago