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Best for Customer Satisfaction and Stability

If you’re looking for a life insurance policy with a substantial death benefit to provide long-lasting financial support to your family, you’ll want to be confident the company you choose will be able to honor its future claims. Whether you’re looking for term or permanent life insurance, State Farm could be a good fit for you.

State Farm offers multiple life insurance policies, and it was top ranked for customer satisfaction by J.D. Power. Despite being one of the largest writers of individual life insurance, it has received a surprisingly small number of complaints from customers. Together, these distinctions make the company our choice for the best life insurance company for customer service and stability.

State Farm Life Insurance Pros and Cons

  • Sells a wide selection of term, whole and universal life policies
  • Top ratings from third-party agencies
  • High coverage amounts available
  • Multiple optional riders
  • Age restrictions apply to some policies
  • Must work with an agent
  • Not available in Massachusetts

Pros explained

Sells a wide selection of term, whole and universal life policies

While some companies only sell one type of life insurance, State Farm sells 10 different life insurance plans. You can choose a term, whole or universal life policy, and customize your plan to meet your needs.

Top ratings from third-party agencies

State Farm has an outstanding reputation within the insurance industry. It has an A++ (Superior) rating for financial stability from AM Best — the highest possible rating — and it was the top-ranked company in the J.D. Power U.S. Individual Life Insurance Study, beating out 20 other life insurers.

High coverage amounts available

Although some insurers limit policy death benefits, sometimes to $1 million or less, State Farm has no such restrictions. Depending on the plan you choose, you could purchase $10 million of coverage or even more. That makes the insurer a good fit for high-income individuals who want to give their beneficiaries a substantial windfall or to leave a lasting legacy.

Multiple optional riders

With insurance riders, you can customize your policy and get additional coverage or even insure other family members. State Farm has several riders, including spouse and child term coverage, guaranteed insurability and waiver of monthly premiums for disability riders.

Cons explained

Age restrictions apply to some policies

While State Farm has multiple plans, some of the policies are restricted to certain age groups. For example, final expense policies are only available to individuals between 50 and 80, and Select Term customers that want a 30-year term must be 45 or younger.

Not available in Massachusetts

State Farm life insurance policies are not sold in Massachusetts. If you live in that state, you’ll have to get a policy from another insurer.

Must work with an agent

Although some companies allow customers to buy life insurance entirely online, State Farm doesn’t offer that option. You must work with an agent to complete the process with all of its policies.

State Farm Life Insurance Products

State Farm sells term, whole and universal life insurance products. Whether you want a basic term life policy or a more complex universal survivorship plan, State Farm has an option for you.

Available life insurance plans

State Farm has 10 different life insurance plans:

Term life

Term life insurance, also known as temporary insurance, provides coverage for a specified term. The cheapest form of life insurance, your beneficiaries only receive a death benefit if you pass away during the covered term.

There are three term life options from State Farm:

  • Instant Answer: If you are between 16 and 45, you can get up to $50,000 of coverage without a medical exam.
  • Return of Premium: With this option, you can have all of the premiums you paid returned to you if you outlive the policy term. The premiums can also build cash value during your term, and you can choose a term of 20 or 30 years. A medical exam is usually required.
  • Select Term: Select Term policies have terms of 10, 20 or 30 years. You can choose the death benefit amount that fits your needs, and you can decide to extend your coverage once your term expires. Or, you can convert the policy to permanent coverage. You can get $10 million of coverage or more, depending on the underwriting and the results of a medical exam.

Universal life

A form of permanent life insurance, universal policies tend to be cheaper than whole life plans. Universal life insurance has two parts: a death benefit and an investment or savings account that is known as the policy’s cash value. Universal policies offer more flexibility than whole life plans since you can adjust your premiums and death benefits over time.

State Farm has three universal policies. All require medical exams.

  • Joint: Two people can purchase coverage, typically for a lower rate than if they each bought a separate policy. State Farm will pay the death benefit upon the death of the first covered person.
  • Survivorship: Survivorship plans cover two people, but only pay a death benefit once both covered persons pass away. A survivorship plan may be cheaper than buying separate policies.
  • Universal Life: State Farm’s universal life policy is available to individuals up to 85.

Whole life

Whole life plans last for your lifetime. Besides a death benefit, they can also build cash value through a savings component. State Farm has four plans:
Final Expense: Final expense plans are relatively small and are intended to cover your burial expenses. The maximum amount of coverage you can get is $10,000.

  • Limited Pay: If you elect for a limited pay whole life plan, you only pay premiums for a specified length of time, such as 5 or 10 years. After that, you don’t have to pay premiums, but your policy remains in force.
  • Single Premium: With the single premium plan, you make one lump sum payment to purchase the policy. After that, your policy is in effect and you don’t have to pay premiums.
  • Whole Life: With a whole life plan, your plan covers you for your lifetime.

Insurance riders

Insurance riders can be added to a policy — with added charges — to get additional coverage or to insure a family member. State Farm offers several riders, including the following:

  • Accidental Death: If you pass away as a result of an accident, this rider pays your beneficiaries an additional benefit.
  • Additional Insured’s Level Term: You can get term life insurance for your spouse until they reach 85.
  • Children’s Term: You can purchase term life insurance for your children.
  • Guaranteed Insurability: At specific option dates, you can increase your death benefit without providing evidence of insurability.
  • Waiver of Monthly Deduction: The monthly premiums will be waived if you become totally disabled, for as long as the disability lasts.


State Farm is available in all states except for Massachusetts.

While State Farm has multiple insurance plans, most of its policies require you to work with an agent and undergo a medical exam. Individuals looking for online-only applications and simplified issue plans may have to work with another company.

State Farm Credentials

State Farm is one of the biggest insurance companies in the country. As of 2020, it was the sixth-largest writer of individual life insurance based on direct premiums written.

The company was founded in 1922. It has over 19,000 agents, and it sells about 100 different insurance products, including life, auto and property insurance.

Policies are issued under State Farm Life Insurance Company or State Farm Life and Accident Assurance Company (licensed in New York and Wisconsin).


In 2021, State Farm won the “Best User Experience” Award for its new mobile app in the Stevie Awards. The app provided customers with new ways to manage their policies and used new technology, such as facial recognition.

Financial stability

A company’s financial stability is a critical factor to consider when shopping for life insurance. Your life insurance company is who you rely on to provide support — and pay claims — for decades. You want to be sure that the company is financially sound and will be around for the long haul.

Checking company ratings from credit rating agencies like Moody’s, AM Best and S&P Global is a good practice. A high rating indicates that the company is stable and able to weather market changes.

State Farm is very highly-rated by all three agencies, and its AM Best rating is the highest the agency offers.

Credit Rating Agency Rating Rating Range
Moody's AA1 C to AAA
AM Best A++ (Superior) D to A++
S&P Global A+ D to AAA

Third-party ratings

State Farm has an outstanding reputation in the insurance industry for customer service. It was the top-ranked company in the 2021 J.D. Power U.S. Individual Life Insurance Study, beating out 20 other companies for the top spot. In the study, J.D. Power evaluated companies products, pricing and customer satisfaction to rate and rank each company.

Each company is ranked on a 1,000-point scale. The industry average score was 776, while State Farm scored 822.

Regulatory actions

State Farm has been involved in several regulatory inquiries and class action lawsuits. For example, State Farm recently entered into a settlement agreement with the Vermont Department of Financial Regulation over allegations the company improperly calculated interest payments for life insurance beneficiaries.

Regulatory inquiries and lawsuits are not uncommon for a company of State Farm’s size, but consumers should always proceed with caution. Carefully review all documents before signing, and make sure you understand the policy’s terms and conditions.

Cost of State Farm Life Insurance

When you’re shopping for a life insurance policy, keep in mind that it’s usually cheaper to buy life insurance in your 20s or 30s. You’re less likely to have existing medical conditions, so you can typically qualify for cheaper rates than if you wait to buy a policy later in life.

To get an idea of State Farm’s costs, we requested quotes for term life insurance for a 30-year-old individual in excellent health. We found that State Farm’s premiums tend to be higher than the industry average. For example, a 20-year $250,000 policy costs $17.85 per month, while the industry average is just $13.75 per month.

$100,000 policy $250,000 policy $500,000 policy $1M policy
10 years $12.27 $16.74 $22.64 $32.19
20 years $12.35 $17.85 $25.69 $40.89
30 years $16.27 $24.14 $37.39 $66.09

Your rates may vary from the sample rates we received because premiums are based on multiple factors including your age, gender, health history and location.

State Farm Accessibility

To purchase a State Farm policy, you must work with a State Farm agent; you can’t complete the process entirely online like you can with some insurers. You can talk to an agent in person or over the phone.

Contact information

You can use the Find Agent tool to locate a State Farm agent near you.

If you have general questions, you can reach customer support by calling 800-782-8332. Customer service is available 24/7.

User experience

State Farm allows customers to manage their accounts online. You can also use State Farm’s award-winning mobile app to make payments, download forms and change your beneficiaries.

State Farm Customer Satisfaction

When it comes to customer satisfaction, State Farm received top marks from third-party agencies and regulators.

Customer reviews

Despite its strong third-party ratings, State Farm has a poor rating on Trustpilot. Its TrustScore is 1.7 out of 5 with over 100 reviews. However, reviews primarily concerned auto and property insurance customer complaints, so the rating may not accurately reflect its life insurance segment.

Complaint index

Researching the number and type of complaints submitted to insurance regulators can give you an idea of the level of customer service a company provides. You can use the National Association of Insurance Commissioners (NAIC) to compare companies. Each year, the NAIC releases company complaint ratios that show how many complaints the company received relative to its share of the market.

The industry standard is 1.0. A company that received fewer complaints than is typical for a company of its size will have a ratio below 1.0. Likewise, a company that received more complaints than expected will have a ratio over 1.0.

State Farm’s complaint ratio for its individual life insurance segment was 0.26 for 2020, significantly lower than the industry standard.

Can I get a discount if I have my house or car insured with State Farm?

No, State Farm's multi-policy discount does not apply to life insurance policies.

Does State Farm require medical exams for life insurance?

For nearly all of State Farm's policies, a medical exam is required. The one exception is its instant-answer term life policy, which is a simplified issue plan.

What types of life insurance does State Farm sell?

State Farm sells 10 different life insurance plans, including term, whole and universal life options.

How We Evaluated State Farm Life Insurance

In our evaluation of State Farm and other life insurance companies, we looked at the following factors:

  • Available plans and terms
  • Insurance riders
  • Policy exclusions
  • Underwriting process
  • Cost
  • Financial stability
  • Customer service
  • Customer reviews
  • Third-party ratings

Summary of Money’s State Farm Life Insurance Review

If you’re looking for a reputable life insurance company with a strong reputation for customer service and financial stability, State Farm is likely a wise choice. It’s a top-ranked company for both customer satisfaction and financial strength, and it sells several forms of life insurance. Whether you want a relatively small policy to cover your burial expenses or a more robust plan to leave to your estate, State Farm has options available for you.

However, State Farm may be more expensive than other companies, and most of its policies require medical exams. You also have to work with an agent to complete the process, so those looking for instant-issue coverage will have to look elsewhere.