Life Insurance

Life insurance is protection against financial loss resulting from death. It is an insurance company's promise to pay your beneficiary a specific amount of money when you die in exchange for timely payment of premiums.
Why do I need life insurance?

Although you may not think about it, your ability to earn income is a significant asset and life insurance helps replace lost income in the event of your premature death. Here are some reasons people buy life insurance.

The death benefit may be used:

* To replace income the family would need to maintain their standard of living after the death of a wage earner.
* To pay off a mortgage loan and other personal and business debts or to create a rent fund.
* To create a fund for children's education.
* To pay final expenses, such as funeral costs and taxes.
* To create a family emergency fund or a fund for a family member with special needs.


How much life insurance do I need?

The State Farm Life Insurance Needs Calculator provides a quick way to get an estimate of the cash needs you may have at death. Cash needs that exceed your available assets can be covered by life insurance.

Features of Term Life Insurance

* Initial affordability

* Adjustable premiums: Term life insurance policies have adjustable premiums. This means that State Farm may raise or lower premiums at some point specified in the policy based on projected changes of investment earnings, mortality experience, persistency, and expenses. However, premiums may never be raised above the maximum premiums stated in the policy.

* Renewability: State Farm's level term policies allow the policyholder to continue coverage past the original coverage period of the policy. Each time the policy is renewed the premium increases to the amount for the then attained age of the insured. This right is usually offered for a specific period, which varies depending on the type of policy.

* Conversion: State Farm term policies are convertible to age 75 in most states. Conversion allows the policyholder to exchange a term life insurance policy for any permanent life insurance policy offered by the Company at any time while the policy is in force (subject to established policy minimums).

View a listing of State Farm's term life policies, or get a quote.
This is a general description of coverage. Contact your State Farm agent to apply for coverage, or for details on coverage, costs, restrictions, and renewability.