Term Life Insurance Policies
Term insurance provides temporary life insurance protection. Because term insurance protection is for limited periods, term premiums are initially lower than whole life premiums.
5 Year Term |
Ages
Available:
16 - (75)
(74 in NY)
Application Minimum:
$50,000
|
Features:
Provides term life protection for a five year period and is renewable at higher premiums for subsequent five year periods until the insured is age 85 (age 80 in NY). Premiums may be adjusted after 5 years. Term conversion to any whole life policy is available, restrictions may apply.
(Policy series 07021 in all states except MT, NY, & WI; 07071 in MT and A07021 in NY & WI)
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Select Term – 10 Year |
Ages
Available:
20 - 75
(20 - 64 in WA;
20 -
65 in NY)
Application Minimum:
$100,000
|
Features:
Provides term life insurance protection to age 95 (age 80 in NY). Premiums are level for 10 years and are adjustable thereafter. After 10 years, premiums increase significantly and go up annually. Four premium classifications are available: Preferred Non-Tobacco, Non-Tobacco, Preferred Tobacco (Not available in WA), and Regular. Term conversion to any whole life policy is available, restrictions may apply.
(Policy series 06020 in all states except MT, NY, WA, WI; 06070 in MT, A06020 in NY & WI, 99020 in WA.) |
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Select Term – 20 Year |
Ages
Available:
20 - 64
(20 - 50 in NY;
20 - 60 in WA )
Application Minimum:
$100,000
|
Features:
Provides term life insurance protection to age 95 (age 80 in NY). Premiums are level for 20 years and are adjustable thereafter. After 20 years, premiums increase significantly and go up annually. Five premium classifications are available: Super Preferred (application minimum $250,000 for Super Preferred rates), Preferred Non-Tobacco, Non-Tobacco, Preferred Tobacco (Not available in WA) and Regular. Term conversion to any whole life policy is available, restrictions may apply.
(Policy series 06020 in all states except MT, NY, OR, WA, WI; 06070 in MT, A06021 in NY, 06021 in OR, A06020 in WI, and 99021 in WA.) |
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Select Term – 30 Year |
Ages
Available:
20 - 45
(Not Available in NY)
Application Minimum:
$100,000
|
Features:
Provides term life insurance protection to age 95. Premiums are level for 30 years and are adjustable thereafter. After 30 years, premiums increase significantly and go up annually. Five premium classifications are available: Super Preferred (application minimum $250,000 for Super Preferred rates), Preferred Non-Tobacco, Non-Tobacco, Preferred Tobacco (Not available in WA) and Regular. Term conversion to any whole life policy is available, restrictions may apply.
(Policy series 06020 in all states except MT, NY, OR, WA, WI; 06070 in MT, 06022 in OR, A06020 in WI, 99022 in WA, and not available in NY) |
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Mortgage Life – 15 Year |
Ages
Available:
20 - 60
Application Minimum:
$50,000
|
Features:
Provides level term life insurance protection for a five year period then decreases annually to approximate the outstanding balance of a mortgage. Death benefit never drops below 20% of original face amount.
(Policy series 08022 in all states except MT, NY, WI, CA, MS, NV; A08022 in NY & WI; 08072 in MT; not available in CA, MS, NV) |
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Mortgage Life – 30 Year |
Ages
Available:
20 - 45
(20 - 36 in NY)
Application Minimum:
$50,000
|
Features:
Provides level term life insurance protection for a five year period then decreases annually to approximate the outstanding balance of a mortgage. Death benefit never drops below 20% of original face amount.
(Policy series 08022 in all states except MT, NY, WI, CA, MS, NV; A08022 in NY & WI; 08072 in MT; not available in CA, MS, NV) |
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This is a general description of coverage. A complete statement of coverage is found in the policy.
Contact your State Farm agent for details on coverage, costs, restrictions, and renewability.
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Issued by:
State Farm Life Insurance Company
(Not licensed in MA, NY or WI)
Bloomington, IL
State Farm Life and Accident Assurance Company
(Licensed in NY and WI)
Bloomington, IL
IL-8.9 |
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