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- State Farm BankÆ Full Service Financial
Limited Pay Life
The coverage lasts. The premiums don't.
10, 15, 20 Pay Life - These policies can be completely paid for in 10, 15, or 20 years. If purchased early enough in life, they'll help you avoid paying premiums during your retirement. That's the beauty of limited pay life policies from State Farm. You could secure a lifetime of life-enhancing benefits, without paying a lifetime of premiums.
Did you know? A limited pay life policy is ideal for a child - in addition to starting insurance coverage they will need as an adult, the policy earns cash value, which generally grows tax-deferred.
The sample rates below are for a 25 year old female in outstanding health. You can personalize it for you by clicking "Get a Quote".
| Eligibility | |
|---|---|
| Premium Duration | 10, 15, 20 Years |
| Coverage | 10 Pay - Starting at $100,000 15 Pay - Starting at $50,000 20 Pay - Starting at $25,000 |
| Issue Ages |
0 to 85 for 10 Pay 0 to 80 for 15 Pay 0 to 75 for 20 Pay |
How it Works
Premiums are paid for a limited number of years, but the benefits last a lifetime.
- Premiums are payable for 10, 15, or 20 years depending on the policy selected
- You can pay premiums monthly, quarterly, semi-annually, or annually
- Guaranteed cash value grows tax-deferred. Cash values can be accessed during your lifetime 1
- The policy is eligible to earn dividends, however, dividends are not guaranteed. Dividends can accumulate at interest, purchase paid up additional insurance, reduce future premiums, or be payable in cash. The choice is yours 2
- 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
And typically, the sooner you purchase your policy, the lower your premiums will be. Talk to a State Farm agent for details on costs, coverages, and restrictions.
Customize your Policy
Add even more value to your policy by buying any of these optional riders.3 A State Farm agent can help you customize a policy to meet your needs.
Guaranteed Insurability Option
This rider "insures the insurability" of the insured. With this rider an insured has the right to buy additional amounts of insurance, on specific option dates, without evidence of insurability, at standard rates.
Waiver of Premium for Disability
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.
