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State Farm Life Insurance Review: For Those Seeking Both Reliability and Excellent Customer Service

Review Updated
Dana George
Author: Dana George
Dana George
Dana George
Writer

Dana George has a BA in Management and Organization Development from Spring Arbor University. For more than 25 years, she has written and reported on business and finance, and she's still passionate about her work. Dana and her husband recently moved to Champaign, Illinois, home of the Fighting Illini. And though she finds the color orange unflattering on most people, she thinks they'll enjoy Champaign tremendously.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page.

This life insurer is a good fit for: Customers seeking an insurer that's both financially secure and provides top-notch customer service.

Logo for State Farm
Best for bundling insurance coverage to save moneyState Farm
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
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= Poor

Full State Farm Life Insurance review

Pros

  • A++ rating from AM Best for financial strength
  • Consistently ranked at or near the top of J.D. Power's customer satisfaction survey
  • Dedicated live agents
  • Quotes available online

Cons

  • May not be available in all states
  • Customer service only available by phone

State Farm life insurance at a glance

  • Average cost (nonsmoking, 35-year-old female): $27.84/month
  • Average cost (nonsmoking, 35-year-old male): $30.44/month
  • Policies available: Term, whole, and universal life
  • Available riders: Children's term life, waiver of premium benefit, guaranteed insurability, and others
  • Age eligibility: 70-plus
  • Discounts: Bundling with other State Farm insurance products

Top perks

Financial strength

Imagine paying life insurance premiums for years, only to have the company go under when it's time for your beneficiaries to collect. State Farm is known for its financial solvency, earning a A++ rating from AM Best.

High customer satisfaction

Each year, J.D. Power conducts surveys to identify how specific companies are doing. When asked about how satisfied they are with their insurance companies, customers have consistently given State Farm some of the highest ratings we've seen.

Dedicated live agent

Among life insurance companies, State Farm is a bit of a hybrid. Nearly everything, from premium quotes to filing a claim, can be accomplished online. However, State Farm is known for its dedicated agents who are always there when needed.

What could be improved

Coverage varies by state

If a specific coverage appeals to you, you'll need to make sure it's available in your state. That's because policies and associated riders may not be available in all states. In addition, policy terms and conditions may vary by state.

No online customer service

For a company that ranks so high in customer service, it strikes us as a bit odd that customers cannot email State Farm's customer service department with questions or concerns. If there's an issue, customers must call.

Pricing

State Farm makes it easy to get an online quote with few questions asked. Here's a sample of average monthly cost for both smokers and nonsmokers.

Cost Insured
$27.84 35-year-old female in excellent health who is not a smoker purchasing $500,000 in coverage for a 20-year term
$30.44 35-year-old male in excellent health who is not a smoker purchasing $500,000 in coverage for a 20-year term
$81.79 35-year-old female in excellent health who smokes purchasing $500,000 in coverage for a 20-year-term
$97.89 35-year-old male in excellent health who smokes purchasing $500,000 in coverage for a 20-year-term
Data source: State Farm.

Alternatives to consider

If you want a life insurer that offers policies with no medical exam: It's possible to take out a policy for up to $100,000 with no medical exam, fast approval, and same-day coverage through Globe Life.

If you would prefer to take care of life insurance business online only: Ladder Life insurance is 100% digital.

Policy options

Term life

As the name suggests, term life insurance lasts for a specific number of years. It is, by far, the economical way to purchase coverage. If something happens to someone while their policy remains active, State Farm will pay their beneficiaries the full face value (sometimes referred to as the "death benefit") of the policy.

Whole life

Whole life insurance is a type of permanent life insurance. As long as the policyholder continues to pay premiums, the policy stays active. With the majority of whole life policies, part of each premium goes toward building cash value that the policyholder can withdraw or borrow against. However, if they borrow against the money, they need to repay it with interest. If they fail to repay the amount borrowed, the funds are deducted from the face value of the policy. Any funds withdrawn are also deducted from the face value.

Universal life

Another type of permanent life insurance is universal life. The difference is that universal life insurance earns a fixed rate of interest on the cash that accrues in the account. Although the interest rate changes over time, it is guaranteed to never dip below a minimum rate. The guaranteed minimum rate varies by insurer.

Riders/add-ons

Flexible care

A flexible care rider can help pay for long-term care expenses if the policyholder becomes chronically ill and is unable to perform at least two activities of daily living without assistance.

Children's term

This rider pays a term life insurance benefit if any of the policyholder's children pass away. While the thought of losing a child is horrible, this rider helps ensure that a policyholder will have enough money for a funeral.

Premium waiver

If the policyholder becomes disabled for at least six months before the age of 60, this premium waiver rider can cover the policy so they don't have to worry about going without insurance.

Guaranteed insurability

A guaranteed insurability rider gives the policyholder the right to increase their coverage by the amount of the rider on specified dates without providing evidence of insurability.

Application process

Applying for State Farm life insurance is quick and easy. On State Farm's website you can request an instant quote or type in your zip code to find an agent near you. As part of the approval process for most policies, you'll be set up with a medical professional who will conduct a basic medical exam.

Who is eligible for State Farm life insurance?

It's not possible to say who is eligible and who is not eligible for any life insurance policy with precision. That's because eligibility depends on many factors, including health history and the type of life insurance policy you're considering. If you're interested in State Farm, your best move is to discuss your situation with a dedicated agent who can lay out your options.

Customer service and ratings

As mentioned, State Farm has built a strong reputation for customer service. For example, in J.D. Power's 2021 U.S. Individual Life Insurance Study, State Farm was the highest rated life insurance company in terms of overall customer satisfaction.

This life insurer is a good choice for:

  • Those seeking top-notch customer service
  • Anyone who prefers to work with a company they're familiar with
  • Customers who would enjoy a combo of online and in-person services

But you may want to consider Globe Life if you want to take out a policy that doesn't require a medical exam, or Ladder Life if you prefer to handle your life insurance policy completely online.