Friday, September 28, 2012

State farm insurance

State Farm Insurance 

One of the most renowned companies for providing death benefits is the state farm insurance company.  State farm offers its customers and users a variety of tools and resources to calculate the type of insurance an individual would need to protect him/her and their families.    State farm being of the oldest insurance companies’ offers its customers 3 different types of life insurance policies.  These insurance types are term, whole and universal life insurance policies.  Within this article, we will review each type of life insurance offered by state farm and see whether or not it would benefit you as the applicant who is trying to get protection.

State farm insurance
State farm insurance

State farm insurance: Term insurance and its products

In state farm insurance, there are a variety of categories for term life insurance itself.  The first thing we will look at is the “select term” insurance which starts at a 10 year, 20 year, or 30 year term.  The terms insurance costs start at only $15.23 a month for a 10 year term that covers $250,000, going to $15.45 a month for a 20 year term that covers you up to $250,000, and at $20.23 a month going for 30 year term coverage of $250,000.   

In addition, state farm insurance also offers “return of premiums” terms that star at either a 20 year term or a 30 year term.  This option allows the end user to regain all the premiums paid at the end of their term.  Coverage for these terms starts at $38.80 per month for a 20 year term that covers the user for $250,000, and at $40.25 for a 30 year term that covers the customer for $250,000 with reimbursable premiums at the end of the term.

There is also the “Mortgage life” option for 15 year terms and 30 year terms also.  These terms are designed to help for the repayment of the residential property in case of death.  The rates start at $21.58 per month for a 15 year term that covers the user up to $100,000, and of course at $22.45 per month for a 30 year term that covers you up to $100,000 in your property repayment. 

State farm insurance also offers a 5 year term life in case people want protection for a smaller term.  This term solutions cover you for 5 years starting at $15.88 per month, with coverage of $50,000.  This is an affordable life insurance solution for customers.

State farm insurance: Whole life insurance products

Like the term insurance options available at state farm, there is also whole life insurance protection available for those who wish to invest for their entire life cycle.  The first of the many of these whole term insurance policies are the “life time protection” option which starts at $78.13 per month for a coverage of $100,000. 
Furthermore, there is also “limited pay life” that covers the payee for 20 years starting at $99.88 per month for coverage of $100,000.  This option allows coverage for almost similar to a term.  However it offers the insurers to earn dividends on them as well.

Additionally, there is also “life paid up at 65” which offers insurance protection to customers that lets you stop paying at the age of 65.  The option starts at $107.88 per month payable up to age 65 as mentioned that covers you for $100,000.

Finally, there is the option of “the final expense” insurance that covers the user up to $10,000.  This option however, is only for those who are aged between 50 to 80 years old.  There is not much information that we can provide on this in terms of rates and or price indexes.  The best advisable solution to verify this data and to authenticate it is to visit the state farm insurance site itself.

State farm insurance: Universal life policies

Universal life insurance itself is unique, and state farm insurance provides 3 types of universal life insurance policies that allow the customer to both, pay for insurance, and invest in it as well.  Universal life insurance works in unique ways other than the conventional term or whole life insurance.  It offers the client the option of insurance as well as the option of investments all under 1 umbrella.  

In state farm insurance, there are 3 types of universal life insurance options available.  However, in this article we won’t be going over the price indexes as they vary user by user.  The amounts are only determined based on what an applicant really needs and how much they are willing to invest.  The options that are readily available in state farm are “universal life,” “survivorship universal life,” and “Joint universal life” insurance.  All 3 are unique and offer great protection with great investment benefits as well. 

Those were the different types of life insurance options that are available at state farm insurance.  For more information regarding them, you can always visit their website.  In addition, for any other information regarding life insurance in general, you may also wish to read my other articles that highlight the application procedures, benefits, and affiliated requirements for them as well.  

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