Term Life Insurance

A Mortgage Term Life Insurance policy helps guarantee your loved ones a tax-free benefit in the event of your death while the policy is in force. They can then use these funds to help with the mortgage payments.

• Policy terms are available for 15 or 30 years
• Premiums can be paid monthly, quarterly, semi-annually, or annually
• You can choose the coverage you need based on your mortgage balance. After the first five years, the death benefit which is intended to behave similar to your mortgage, decreases over the life of the policy, but will never be less than 20% of the original face amount of insurance
• Premiums are scheduled to be level for the life of the policy. Your premiums may be raised or lowered after you have had the policy for five years, but they will never exceed the maximum premiums stated in the policy
• Tax-free death benefit - No matter how large your death benefit, it passes to your beneficiaries generally income tax-free
• If you have auto insurance with State Farm, purchasing a State Farm Life Insurance policy may entitle you to a discount on your auto premiums with our multi-line discount

Need lifelong coverage? Just convert to permanent coverage and premiums at any time the policy is in force - no matter what your state of health.1

This rider provides additional mortgage protection for the insured or additional insured.

Helps preserve your plan at a time when income may be limited due to a disability. If the insured becomes totally disabled for 6 continuous months, as defined in the policy, prior to age 60, this coverage will waive future premiums as long as the insured continues to be totally disabled. If the insured becomes disabled between the ages 60 and 65, this coverage will waive premiums to the later of the third policy anniversary after total disability, and the anniversary when the insured is age 65.