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State Farm Life Insurance Review
State Farm is one of our favorite providers for term life insurance thanks to its diverse offerings. Customers can choose from two different term structures depending on their needs: a standard Select Term policy (level terms of 10, 20, or 30 years) and a “return of premium” plan that refunds your base premiums if you outlive the policy. State Farm no longer offers the “Instant Answer” no-exam policy that appeared in earlier lineups. In addition to its term policies, State Farm offers whole and universal life insurance. It has a good selection of policy add-ons, too, so its policies are fairly customizable. See State Farm’s current term lineup here: Term life insurance, including Select Term and Return of Premium. For historical reference on Instant Answer Term, see the archived page here.
Keep in mind that there isn’t a single best policy or provider for everyone. The right company for you will depend on who extends the best premium for the coverage you need. We suggest requesting a quote from State Farm along with a few other companies to see how your options stack up. If you do choose State Farm, you’ll be well taken care of: It holds top-tier financial strength ratings — A.M. Best A++, S&P Global AA, and Moody’s Aa1, all with stable outlooks — and it continues to be closely tracked in the latest customer-experience benchmarks from J.D. Power and the American Customer Satisfaction Index (ACSI). You can verify State Farm’s current insurer ratings on its financial strength page.
The Life Insurance Factors We Analyzed
Customer experience
Independent benchmarks from J.D. Power. now span multiple studies that assess insurers’ customer experience. The latest public releases include the U.S. Auto Insurance Study (region-based rankings on a 1,000-point scale), the U.S. Auto Claims Satisfaction Study, the U.S. Insurance Shopping Study, and the U.S. Home Insurance Study. Results vary by geography and product, and industrywide satisfaction has been pressured recently by elevated rate increases and longer repair cycle times. For a cross-brand view beyond J.D. Power’s 1,000-point scale, see ACSI’s 0–100 brand scores for property & casualty insurers.
On top of that, the National Association of Insurance Commissioners provides a Consumer Complaint Index by line of business (1.0 equals the industry average; below 1.0 indicates fewer complaints than expected). You can look up the latest State Farm results using the NAIC’s Consumer Insurance Search tool.
Coverage and rider information
Within State Farm’s term, whole, and universal life insurance structured offerings are a number of coverage options designed to fit specific needs. We particularly like State Farm for its term insurance options, which include:
- Select Term: the most basic coverage option, equipped with term lengths of 10, 20, or 30 years and a minimum of $100,000 in coverage
- Return of Premium: similar to Select Term coverage, though only available in 20- or 30-year terms; coverage amounts vary by state and product form. This option is more expensive, but it returns base premiums you’ve paid if you outlive the term.
- Instant Answer: this simplified-issue option has been discontinued and is no longer sold. Historically, it was a smaller policy designed to cover final expenses with a flat $50,000 of coverage and term limits to 10 years or when the insured turned 50, whichever was longer (see archived page here).
State Farm also offers multiple payment designs for whole life insurance. In addition to traditional whole life, State Farm offers Limited Pay Life (you choose a shorter premium-paying period) and Single Premium Life (one upfront payment for lifetime coverage). Its universal life insurance provides flexible payment structures and adjustable coverage amounts; specific minimums, issue ages, and features vary by state and policy form.
Universal life policies are also unique in that they feature joint or survivorship policies, which provide protection for up to two people and are cheaper than purchasing two separate life insurance policies. A joint policy pays out the face value of the coverage when the first of the two policyholders dies, while a survivorship policy releases the payout after the second death. Availability and details vary by state and product.
Should you decide that you want to convert your policy from a term life plan to a permanent policy, State Farm allows you to do so without a new medical exam during the policy’s conversion period, subject to your contract and state rules. Exact deadlines and eligible permanent options vary by product; your agent can provide the conversion details and illustrations. Learn more in State Farm’s term life pages and this term conversion guide.
While State Farm has a decent rider selection, on par with other top companies like New York Life and MetLife, note that its mainstream living benefit is an Accelerated Death Benefit for terminal illness; availability of chronic-illness acceleration varies by product and state. Optional riders commonly include Accidental Death Benefit, Waiver of Premium (or Waiver of Monthly Deduction for UL), and dependent riders. If chronic-illness living benefits are a priority, New York Life prominently offers a Chronic Care Rider on many permanent policies. For employer coverage, MetLife group life typically includes terminal-illness acceleration, optional AD&D, waiver of premium, and conversion/portability; features depend on the specific plan.
Life insurance coverage features
State Farm Life Insurance Overview: Financial Strength, Availability, and History
- In business since: 1922
- S&P Global financial strength rating: AA (outlook: Stable)
- Moody’s financial strength rating: Aa1 (outlook: Stable)
- A.M. Best financial strength rating: A++ (Superior; outlook: Stable)
- States served: 49 (not available in Massachusetts)
The Competition
All information accurate as of November 11, 2025.
The Bottom Line
We recommend State Farm for all varieties of life insurance, thanks to its strong customer satisfaction benchmarks and top-tier financial strength ratings. We’re confident that the company will be easy to work with and keep you in good hands financially. Just remember: Price always varies by company, so it’s important to shop around and find your best offer before settling on a provider. We suggest comparing your quote from State Farm with a few of the other best life insurance providers to see which is the right fit for you.
State Farm Life Insurance FAQ
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