State Farm Life Insurance Review

When you’re looking for life insurance, there are dozens of different factors that you’ll need to compare to find the best rated life insurance companies and policy to fit your needs. Because there are almost an endless number of options, it can be overwhelming trying to find the best company for your life insurance policy, but luckily, we are here to help you. One company that we receive a lot of questions about is State Farm, which has provided insurance policies to millions of Americans across the country. But we have other reviews available to you such as our Colonial Penn Life review, just to name one.

State Farm Life Insurance ReviewState Farm is one of the most recognizable names in the insurance industry. They have been offering insurance coverage since 1922. They are mostly known for their auto and home insurance, however they do provide life insurance as well. It may be easy to purchase life insurance with State Farm, especially if you already have a local agent that you use, but there are several reasons why they may not be the best life insurance company for you. This is what I’ll explore in this review of State Farm. 

Pricing

The first reason I don’t recommend State Farm is simply because life insurance with them is not cheap. For example a 35 year old woman would pay around $44 per month for a $500,000 30 year term with State Farm, while there are numerous companies offering the same policy for around 20-30% less than what State Farm charges.

One of the most important factors that applicants look at when they are going through the life insurance process is costs. Nobody wants to pay more for their life insurance coverage than they have to. While price isn’t everything, it’s one of the major qualities to look at when you’re trying to find the best insurance policy for you, which is why State Farm is rarely the best option.

Regardless of the company that you choose, there are several ways that you can get the lowest insurance rates available. While State Farm typically isn’t the lowest option, there are some lifestyle changes that you can make to get the most affordable life insurance plan for your family.

The first thing to do is focus on your health. You can do this by starting a diet, getting regular exercise, and eliminating any tobacco usage, all of these are going to translate into improved overall health and much lower life insurance rates. In fact, quitting smoking could cut your premiums in half, which can save you hundreds of dollars every year for your coverage.

Choices

When working with State Farm you will only get quotes from State Farm. I always recommend comparing several top companies when shopping for life insurance, and State Farm agents only represent State Farm and no other companies. When you choose an independent life insurance agency (such as ours) we help you compare pricing from among 30 top life insurance carriers, helping you find the best price. With State Farm, you won’t have the ability to compare various quotes.

Unlike traditional insurance agents, independent insurance agents don’t represent one single company like State Farm. Instead our agents are licensed to sell policies from 30 highly-rated companies across the United States, which means that we can connect you with the best policy to fit your needs. Additionally, you don’t have to worry about one of our agents pushing additional coverage that you don’t need or trying to push you into a lower quality insurance policy

Underwriting

The underwriting practices at State Farm are known for being conservative. What does this mean? It means that if you have high blood pressure, high cholesterol, or perhaps a pre-existing condition such as diabetes – you may be charged very high rates, or not get approved at all. In addition if you are considered high risk and have a more serious pre-existing condition, you are likely to get denied.Because the vast majority of applicants have high blood pressure or high cholesterol, State Farm is going to be too expensive for most consumers. Even though you’re in good health, aside from high cholesterol, State Farm is going to give you much higher rates because of your higher risk.

When you work with a high risk agency such as ours, we can match up your current health condition with the right life insurance company. Each life insurance carrier has different guidelines for what they will or won’t approve, and we know which companies to use for what health situation, age, and coverage amount. Our independent agents are the best way to find a life insurance company that is going to view your health more favorably. Working with one of our agents could save you weeks of calling different companies and answering the same questions over and over.

One of the most important investments that you’ll ever make for your family, is life insurance. It’s the best safety net that you can buy. You’ll get the peace of mind knowing that your loved ones will be protected regardless of what happens to you.

Not having life insurance is one of the worst mistakes that you could make for your family. They would be left with a massive amount of debt, which can make an already difficult situation of losing a loved one a thousand times more difficult. Regardless of which insurance company that you choose, it’s vital that you purchase enough insurance coverage for your family.

There are several different factors that you’ll need to calculate when you’re looking at your life insurance needs. The first is your debts. The primary goal of your life insurance is to give your family the money that they need to pay off any expenses that you would leave behind and they would be responsible for. You should add up your mortgage payments, student loans, and other major debts to ensure that your life insurance coverage is large enough to pay for all of those bills.

The next factor to consider is your paycheck and how many people rely on that source of income. The secondary goal of your life insurance is to replace your salary if anything tragic were to happen to you. If you’re one of the main sources of income in your household, your family could struggle financially if you were to pass away. Your policy will give them the money that the need to get through this difficult time.

If you have any questions about life insurance or about the dozens of insurance companies that we recommend and represent, please contact one of our agents today. It’s our mission to ensure that you’re getting the best insurance policy to fit your needs.

Our overall philosophy is that you should shop for the best rates among highly rated companies. We don’t believe that State Farm can do that for you and therefor we don’t recommend you buy term life insurance with them. We do recommend that you use our quote form at the top of this page to get started with shopping for life insurance, or call us at 888-552-6159 and we can answer your questions and help you find the right coverage for you.

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Liran

Liran Hirschkorn is an independent life insurance agent. His mission is to help individuals across the U.S in finding the best rates on life insurance as well as helping those that have previously been declined get approved for coverage. Liran looks forward to speaking with you about your life insurance needs.

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