State Farm has sold life insurance for nearly 95 years and is one of the most prominent agencies in the U.S. today. From term life to permanent coverage, such as whole life, universal, and variable, State Farm offers policy options to fit a variety of coverage needs.
We at the MarketWatch Guides team have reviewed State Farm’s life insurance offering, including types of coverage and pricing, along with what policyholders have to say.
Written by Taylor Medine ContributorTaylor Medine is a personal finance writer who focuses on demystifying related topics for people like her — the everyday consumer. Her work has been published by FinanceBuzz, Credit Karma and Experian.
Edited by Veronika Jelenik EditorVeronika Jelenik is an editor with a background in journalism. She previously has had her work published in the New York Daily News and the Hartford Courant, and she has covered many disparate topics. Veronika has a bachelor’s degree in journalism and social and cultural analysis. When not immersed in home services content, Veronika enjoys spending time with her friends and her Chihuahua, Beanie.
Our Research Process Edited by Veronika Jelenik EditorVeronika Jelenik is an editor with a background in journalism. She previously has had her work published in the New York Daily News and the Hartford Courant, and she has covered many disparate topics. Veronika has a bachelor’s degree in journalism and social and cultural analysis. When not immersed in home services content, Veronika enjoys spending time with her friends and her Chihuahua, Beanie.
Why Trust UsOur editorial team follows a strict methodology for reviewing life insurance companies.
34 Companies Reviewed 60,346 Quotes CollectedOur team collected more than 60,000 sample quotes from life insurance companies using unique user profiles to give readers an accurate view of pricing across competitors. We gather quotes for ages 18 to 75 years old for 62 life insurance providers.
19 Rating FactorsWe score life insurance companies based on 19 different factors to provide you with a comprehensive rating.
3,000 Policyholders Surveyed Related Articles Featured Pick Featured Pick Our top pick for hands-on experience Compare 10+ companies instantly 250+ insurance experts available Custom match to best fit plan Best for online whole life insurance Offers no-exam coverage Quote in under 5 minutes Standalone accidental death benefit Our pick for online no-exam coverage
State Farm issued its first life insurance policy in 1929. Today the company has more than 19,000 agents nationwide and has the highest possible AM Best financial strength rating of A++ *. For customer satisfaction, State Farm ranks No. 1 in J.D. Power’s 2021 U.S. Individual Life Insurance Study , making it our top recommendation for customer experience.
You can shop for State Farm term life insurance quotes online, but some parts will require a phone call. For example, contacting a State Farm agent is necessary to discuss whole life and universal life insurance options. State Farm doesn’t sell policies in Massachusetts and Rhode Island, so residents in these states will have to look elsewhere for coverage.
*A.M. Best ratings accurate as of July 2023
Top marks with AM Best for financial strength
Ranked #1 on J.D. Power’s 2022 customer satisfaction survey
Easy to get a term life insurance quote online
No online application process
Offers fewer riders than some competitors
When we analyzed State Farm using our provider review methodology, the company scored 4.6 out of 5 stars. It earned particularly high marks in areas of brand trust and coverage options.
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Life Insurance Rating
MarketWatch Rating 4.6 / out of 5 starsRating is based off of MarketWatch Methodology Guidelines
Your information is secure Rating breakdown Brand TrustState Farm earned a perfect Brand Trust score by placing first in JD Power’s annual customer satisfaction survey and earning a financial strength rating of A++ — the highest rating possible — from AM Best. 4.8 / 5
State Farm earned points for its broad coverage range, offering term, permanent and no-exam policies. It lost points because it offers fewer than four term length options. 4.8 / 5
Availability and Ease of UseState Farm offers an online portal and an 800 number for customers, earning it points. It lost points because customers can’t communicate via live chat or email, nor can they purchase policies online 4.1 / 5
State Farm fared well in this category by offering a robust range of riders, including a flexible care rider to pay for long-term care expenses. 4.4 / 5
You can see a more detailed look at how State Farm performed in our 2024 life insurance study in the table below. We’ve also listed industry averages based on the more than 30 providers in our latest study so you can compare.
You can use the table below to compare State Farm to other top life insurance companies.
| Insurance Provider | Policy Types Offered | Term Limits | Coverage Limits | Best For |
|---|---|---|---|---|
| State Farm | Term, whole, universal and no final-exam expense | 10–30 years | Limits: $250,000 (Term) | Customer satisfaction |
| TruStage Life Insurance | Term, whole | 5 years | $5,000–$300,000 (term), $5,000–$100,000 (whole) | Online whole life insurance applications |
| Fidelity Life Insurance | Term, whole | 10–30 years | $10,000–$2 million (term), $10,000–$150,000 (whole) | Accidental death coverage |
| Lemonade | Term | 10–30 years | Up to $1.5 million | Quick term coverage |
| Bestow Life | Term | 10–30 years | $100,000–$1.5 million | Term life policies |
Life insurance coverage provides a tax-free death benefit to beneficiaries when the policyholder dies. Loved ones can use the cash death benefit to pay for funeral expenses and other living costs. There are no restrictions on what expenses beneficiaries can use the money for.
State Farm offers three types of life insurance — term life insurance, whole life insurance and universal life insurance. Add-on endorsements like the children’s term rider and care benefit rider make it possible to customize the coverage and benefits.
Term life insurance policies cover you for a defined time period. They expire at the end of the term unless you die during the term or renew or convert the policy. State Farm offers the following policy term life insurance options:
Whole life insurance is a permanent policy that covers you as long as you make premium payments. Whole life policies pay a death benefit, have fixed premiums and can build cash value. State Farm offers the following whole life policies:
Universal life insurance is permanent life insurance where premiums and coverage are adjustable. State Farm has three universal life insurance policies:
Life insurance costs vary, and life insurance companies examine risk factors to determine your insurance rate. Factors that affect premiums include:
Below are sample term and permanent life insurance costs at State Farm:
Sample term life insurance rates are for a 25-year-old female living in Illinois with $250,000 in coverage and in excellent health.*
| Policy Type | Age Range | Term Length | Monthly Estimate |
|---|---|---|---|
| Select Term Life | 25 | 10 years | $15.02 |
| Select Term Life | 25 | 20 years | $15.22 |
| Select Term Life | 25 | 30 years | $19.14 |
Sample rates are for a 25-year-old female living in Illinois with excellent health and $100,000 in coverage.*
| Policy Type | Age Range | Premium Payment Term | Monthly Estimate |
|---|---|---|---|
| Limited Pay Whole Life | 25 | 10 years | $258.48 |
| Limited Pay Whole Life | 25 | 15 years | $190.27 |
| Limited Pay Whole Life | 25 | 20 years | $155.51 |
*Sample quotes from the State Farm website pulled April 6, 2023.
Despite its lofty ranking on J.D. Power’s service survey, State Farm has gotten polarizing reviews from customers on third-party review sites.
Some customers rave about the responsiveness of State Farm and how professional its insurance agents are, while others complain of telephone wait times and frustration trying to reach someone by phone.
“Great Insurance and awesome customer service. They take extra time to explain and review policy needs and changes; this is what everyone is looking for. Thank you for all your input and help!” — Lisa Johnson via Trustpilot
“I have been very fortunate working with the ladies at one of the Seattle offices. They have been there immediately for any questions I have, got me a fantastic rate on my insurance, and I trust them totally to make sure we are OK. We have been on the phone with them since our first contact with them, and they are professional and follow through with everything they say.” — Debbie Bennett via Trustpilot
“State Farm’s 1-800 customer service line operators are the most rude, disrespectful people I have dealt with this year. Stay away from this company at all costs unless you’re suing them.” — Andrew G via the Better Business Bureau
“Outrageous wait times on the phone. Calling to ask about a claim, and the wait time is between 42 minutes and 1.5 hours. What a joke. No wonder they are so low-priced.” — no service is included. — LP via Trustpilot
We reached out to State Farm by email for comment and it provided the following response:
“We’re proud of the remarkable service provided by more than 19,000 State Farm agents in communities across our nation. We’ve been there to help our customers prepare for and recover from the unexpected for the last 100 years and we are pleased more customers continue to choose State Farm.
“We rely on multiple factors for assessing our performance; internal, external and direct customer feedback. We always strive to deliver excellent customer service and we incorporate all these factors to ensure we are meeting or exceeding our customers’ expectations.
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