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- State Farm BankÆ Full Service Financial
How it Works
Typical Uses:
Whole Life insurance offers level premiums and life insurance protection for as long as you live, provided that premiums are paid as required to keep the policy in force. State Farm offers whole life policies that can be paid with a single premium, premiums payable to 100, or somewhere in between. Whole life policies also provide for the accumulation of cash value on a tax-deferred basis which can be used when you need it, to help with life’s opportunities. Policy loans do accrue interest, and any outstanding policy loans and interest will reduce the death benefit and cash value.
- Provides for a family’s loss of income, mortgage costs, and educational needs
- Access to cash value for life’s opportunities
- Leaving a legacy for the next generation
To learn more about Whole Life Insurance, Click here for videos.
What is Whole Life Insurance?
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What are the advantages of a Whole Life Policy?
00:00:47
Tax advantages of Whole Life Insurance
00:00:58
What is a dividend?
00:01:15
Why State Farm?
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Whole Life Policies
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".
Whole Life
Lifetime protection for a lifetime of needs and opportunities
- Level premiums to age 100
- Tax-deferred growth of cash value
- Death benefits generally pass on income tax-free to your beneficiaries.
- Cash values can be accessed during the insured's lifetime.
- Eligible to earn dividends, however, dividends are not guaranteed.
Limited Pay Life 10, 15, 20
A lifetime of benefits without a lifetime of premiums.
- Premium payments limited to 10, 15 or 20 years
- Tax-deferred growth of cash value
- Death benefits generally pass on income tax-free to your beneficiaries.
- Cash values can be accessed during the insured's lifetime.
- Eligible to earn dividends, however, dividends are not guaranteed.
Single Premium Life
One premium payment, a lifetime of benefits.*
Starting at
$
17,239
*
One-Time Payment
$100,000 of coverage
Get A Rate Quote
* Policy is a Modified Endowment Contract
- Single premium payment
- Tax-deferred growth of cash value
- Death benefits generally pass on income tax-free to your beneficiaries.
- Eligible to earn dividends, however, dividends are not guaranteed.
* This policy is considered a Modified Endowment Contract and as such any distributions (e.g., loans, dividends paid in cash or accumulated, or a policy assignment) will be subject to current income tax to the extent there is taxable gain in the policy. In addition, a tax penalty equal to 10% of the taxable amount will be applied to funds distributed prior to the owner's age 59½.
Final Expense ($10,000 Whole Life in New York)
This policy is available for ages 50 - 80 (75 in NY), and designed to ease the financial burden of burial expenses.
- Fixed death benefit of $10,000
- Premiums are guaranteed level up to age 100
- Tax-deferred growth of cash value
- Eligible to earn dividends, however, dividends are not guaranteed.
