Shuman Roy is an entrepreneur, business owner, and musician. He started RoysNoys, LLC in 2013 as a music production and education service company. He also offers small business consulting and advisory services to help businesses get from start-up mode to turn-key operations. Shuman earned his M.B.A from the Stern School of Business in 2001 and has an undergraduate degree from Manhattan College in ...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Joel...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Jul 19, 2021

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Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

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The Truth in a Nutshell

  • State Farm provides term and permanent life insurance policies.
  • Whole life insurance rates are more expensive than term life insurance rates.
  • State Farm Life Insurance Company has some of the best third-party ratings in the industry.

Did you know State Farm is one of the leading providers of life insurance? State Farm life insurance is considered to be one of the best for customers in the United States. But how much does it cost? And what does life insurance not cover?

Our State Farm life insurance review explains everything you need to know about State Farm life insurance rates, coverage options, third-party ratings, and much more. Also, we’ll go through the steps on how to file a State Farm insurance claim.

Comparing life insurance is essential to locating a cost-efficient policy, so why stop at just State Farm life insurance? Enter your ZIP code in the free online quote tool above to compare multiple companies in your area.

What does State Farm Life Insurance Company offer?

You can get State Farm term life insurance and permanent life insurance. These two policy types have sub-categories you can choose from as well. Here’s a list of term life and permanent life insurance policies that are available at State Farm.

  • Select Term Life Insurance
  • Instant Answer Term Life
  • Return of Premium Term Life
  • Whole Life
  • Limited Pay Whole Life
  • Single-Premium Whole Life
  • Final Expense
  • Universal Life
  • Survivorship Universal Life
  • Joint Universal Life

These are just life insurance policies. If you’re interested in annuities, State Farm Insurance provides these too. You can even customize your life insurance policy with a rider.

The most significant riders at State Farm Life Insurance Company are children’s term, flexible care benefit, guaranteed insurability, level term, and waiver of a monthly deduction for disability riders.

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How much are State Farm life insurance rates?

State Farm life insurance quotes are determined by age, health, and coverage limit (death benefit). Therefore, the key to affordable State Farm life insurance depends on specific conditions.

Instead of calling Jake from State Farm, examine these sample life insurance rates before you request State Farm life insurance quotes. This will give you an idea of how much you’ll pay for life insurance each month.

State Farm Term Life Insurance Rates by Age, Coverage Limit, and Health
Policyholder's AgeNon-Smoker Monthly Life Insurance Rates with $100K Coverage and 10-Year TermNon-Smoker Monthly Life Insurance Rates with $100K Coverage and 20-Year TermNon-Smoker Monthly Life Insurance Rates with $250K Coverage and 10-Year TermNon-Smoker Monthly Life Insurance Rates with $250K Coverage and 20-Year TermSmoker Monthly Life Insurance Rates with $100K Coverage and 10-Year TermSmoker Monthly Life Insurance Rates with $100K Coverage and 20-Year TermSmoker Monthly Life Insurance Rates with $250K Coverage and 10-Year TermSmoker Monthly Life Insurance Rates with $250K Coverage and 20-Year Term
25$13$14$19$21$21$21$32$40
30$14$14$20$23$22$24$34$45
35$15$16$21$24$24$27$37$51
40$16$20$25$31$30$38$51$72
45$21$25$30$41$38$53$72$107
50$25$33$41$62$53$78$106$166
55$32$45$59$92$73$116$158$259
60$46$73$92$157$115$183$261$421
65$71$121$146$272$184$291$434$686
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Non-smokers pay the least for State Farm life insurance rates, but smokers pay significantly more per month. Again, these are sample rates, so your rates will vary.

But what about whole life insurance? Is it more expensive than term life insurance? Let’s compare non-smoker and smoker whole life insurance rates from State Farm.

State Farm Whole Life Insurance Rates by Age, Death Benefit, and Health
Policyholder's AgeNon-Smoker Monthly Whole Life Insurance Rates with $100K CoverageNon-Smoker Monthly Whole Life Insurance Rates with $250K CoverageNon-Smoker Monthly Whole Life Insurance Rates with $500K CoverageSmoker Monthly Whole Life Insurance Rates with $100K CoverageSmoker Monthly Whole Life Insurance Rates with $250K CoverageSmoker Monthly Whole Life Insurance Rates with $500K Coverage
25$89$214$422$111$269$532
30$103$247$488$129$313$619
35$121$292$579$152$370$733
40$143$348$691$179$438$870
45$173$425$843$215$529$1,051
50$213$524$1,042$265$652$1,299
55$269$663$1,321$335$829$1,651
60$355$879$1,753$428$1,061$2,116
65$475$1,178$2,350$543$1,348$2,689
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Whole life insurance is nearly seven times more expensive than term life insurance. If you’re a senior-aged smoker, your monthly rates can cost you over $1,000 per month.

You can pay your State Farm life insurance policy over the phone, by mail, or online. Create a State Farm account and manage your policy online or on your smartphone.

What are State Farm life insurance advantages and disadvantages?

Before we get into the third-party ratings, let’s talk about some of State Farm life insurance’s pros and cons. We’ll start with the pros first.

  • State Farm life insurance pros:
    • Excellent customer satisfaction ratings
    • Several term and permanent life insurance policies to choose from
    • You can add riders to term and whole life policies
    • Some policies don’t require a medical exam
  • State Farm life insurance cons:
    • Higher than average life insurance rates
    • Specific policy changes have to be approved by agents
    • State Farm doesn’t provide life insurance in Massachusetts

Did we miss something? Continue reading to learn more about State Farm life insurance financial strength and credit ratings.

State Farm Life Insurance: Customer Satisfaction and Financial Ratings

Insurance companies are graded by financial strength and credit rating agencies every year. Some of the most prominent companies participate.

State Farm is one of the many insurance companies that’s rated by the most reliable rating agencies. So what are State Farm’s customer satisfaction and financial strength ratings? Let’s review.

What about State Farm Life Insurance Company’s complaint index?

According to the National Association of Insurance Commissioners (NAIC), State Farm’s life insurance department had a complaint index of 0.24. This means State Farm Life Insurance Company has lower than the average complaints.

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How do you cancel a State Farm life insurance policy?

If you want to cancel your State Farm life insurance policy, follow these steps:

  • Step 1 – Contact an agent by phone or State Farm’s Life customer service at 1-800-782-8332
  • Step 2 – Let them know you want to cancel your policy
  • Step 3 – Depending on the state, you could pay a cancellation fee. Try choosing a date to cancel ahead of time

Picking a date to cancel gives you enough time to look for another life insurance policy. You may change your mind as you’re searching.

How do you file a State Farm life insurance claim?

If you have a State Farm login, this process is much easier. To file a life insurance claim at State Farm, follow these steps.

  • Step 1 – Contact your State Farm life insurance agent or call State Farm life claims at 1-877-292-0398
  • Step 2 – Report a new claim or follow up on an existing claim
  • Step 3 – If you have State Farm login, you’ll receive alerts through email and State Farm’s mobile app

A State Farm agent will notify you of other details. Be sure to stay up to date to know the status of your claim.

State Farm Life Insurance History

State Farm is an Illinois-based insurance company that was established in 1922. The company specialized in car insurance for farmers but later added life insurance to its arsenal of products. State Farm is ranked seventh in the United States life insurance industry.

Today, State Farm has earned $600 million in dividends. This is not as much as other life insurance competitors like New York Life, but it’s quite an achievement. Especially considering the COVID-19 pandemic.

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State Farm Life Insurance: What’s the bottom line?

Overall, State Farm’s life insurance program is one of the best in the United States by financial strength, market share, and customer experience. The downside to State Farm life insurance is the price.

Most life insurance companies don’t charge as much for coverage. However, the right conditions can get you affordable State Farm life insurance coverage.

Now that you know more about State Farm life insurance, use our free comparison tool to get quotes from other top companies in your area.