State Farm Life Insurance Review

In this article I will review life insurance policies provider by State Farm. I will be discussing how the rates offered by State Farm stack up to the competition, as well as State Farm’s approval guidelines. I will provide some pricing examples of State Farm and other top-rated companies that provide life insurance competitive term life rates. You can compare rates right below, or keep reading for more on State Farm.

State Farm Life Insurance Review – Pros and Cons

While I’m not a big fan of State Farm for life insurance, the company is a quality organization. They have been in business over 90 years, and I do think that they are a good choice for home and auto coverage. However, for life insurance, they simply are not as competitive as other insurance companies. If you compare State Farm rates vs other high quality companies, you will see you can probably save anywhere from 10-20% or more.

Why can State Farm price their policies higher? Because they already have a relationship with you, and you already have home and auto with them, so you choose them without shopping around, only to find out the rates are a bit higher. Many people I speak to end up replacing their State Farm policies when they find out they can get better rates. Also, you will read further in this article that State Farm does decline people who even have minor health issues like high cholesterol – if you aren’t in perfect health, they may not even approve you.

State Farm Life Insurance Review – Pricing Comparison

For the purpose of comparing prices, let’s take a look at a 35 year old female, applying for half a million dollar of term life – in this case a 30 year term policy. I’ll compare rates at Preferred Plus non-tobacco for the purposes of this example.

Companies Like Banner Life, American General, Transamerica and several others are more competitive in this example – pricing at around 30-$35 per month, while State Farm is over $43 per month – while it may only seem like a $13 difference, over a 30 year term that amounts to over $4,000 in savings over State Farm rates.

State Farm Life Insurance Agents

When working with an agents from State Farm they will only quote you State Farm rates – they are considered a “captive” agent – one that only represents one company. When you work with an independent agency like ours, we can compare rates from among over 60 companies and find you the best priced life insurance company.

State Farm Underwriting Guidelines

State Farm Insurance takes a very conservative view when underwriting life insurance policies. If you have a pre-existing condition like multiple sclerosis, Hepatitis C, or Crohn’s disease, for example, you are not likely to get approved. I have even seen cases where people get denied solely due to high cholesterol.

We at are specialists in high-risk life insurance and obtaining approval even if you have a pre-existing medical condition.

You can use the instant quote tool that we below to compare life insurance rates from among top companies. Alternatively, you can call us at 888-411-1329 and we would be happy to discuss quotes and answer any questions you have.

Looking for more reviews?  Check out our reviews of Allstate and Globe Life, known for their “$1 for $50,000 worth of life insurance coverage” and see if they’re competitive.

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Michael Quinn

Michael Quinn is the founder of LifeInsuranceBlog. If you have specific questions or face challenges getting coverage. Please email or call me a call at 888-411-1329 - Either way, I'm happy to help you.

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