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Joint Universal Life Insurance

Joint Universal Life Insurance is a flexible, economical way of providing for two individuals' needs within one policy, while building tax-deferred account value. It is similar to Universal Life except that the policy covers two people. The death benefit is paid upon the death of the first insured.
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Joint Universal Life has the following features:

  • Flexibility — you decide the amount of premium payments*
  • Death Benefit — life insurance proceeds are generally federal income tax-free to the beneficiary
  • Option to purchase another policy for the surviving insured.
  • Builds an account value, which grows income tax deferred under current federal income tax law.
  • Ability to withdraw cash (or take loans) from your account when you need it to help with education expenses, provide a retirement supplement, or other personal objectives.
  • Includes a broad range of riders and features to customize coverage.

The Joint Universal Life policy can help assist in planning for the following needs:

  • Preserving Lifestyle — gives you the security of knowing loved ones will be taken care of in the event of premature death
  • Business transition planning — Life insurance can help provide the funds to orderly transfer a business interest. For family owned businesses, it can help those interested in continuing the business do so, while also providing for heirs who are not interested in the business
  • Access to account/cash value — The account value can be accessed via a policy loan or withdrawal to help with education expenses, provide a retirement supplement, or other personal objectives. Unpaid loans and withdrawals will reduce the death benefit and account value/cash surrender value. Loans accrue interest


Premium Duration Lifetime
Coverage Starting at $100,000
Issue Ages 20–85

Survivor Purchase Option

The Survivor Purchase Option allows the Survivor to purchase a new permanent policy without evidence of insurability at the first death of the insureds, and is available for 90 days if the first death of the insureds has occurred prior to the policy anniversary in which the Survivor is 75. See your State Farm® agent for details.

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Customize Your Policy

Add even more value to your policy by buying any of these optional riders. A State Farm agent can help you customize a policy to meet your needs.

Provides additional coverage on either insured until age 95. This coverage must be applied for and purchased by each respective insured. This rider is convertible until age 75 to any Whole Life plan that is available when conversion occurs.


Coverage: $100,000 minimum

Issue Ages: 20-90

Provides temporary insurance for eligible children up to the earlier of age 25 or until you turn 65. Just one rider can provide up to $20,000 in coverage for each eligible child in your family. You can purchase up to five times the amount of Children's Term Rider coverage on the eligible child's 18th birthday and the rider can be converted to permanent insurance for up to five times the amount of coverage when the child turns 25.


Coverage: $5,000–$20,000

Ages: Children born after the rider is issued and any children under age 18 at policy issuance, and Policyholder is age 16-55

Helps preserve your policy at a time when income may be limited due to a disability. This optional rider waives the monthly deductions of the entire policy for a total disability, as defined in the policy. Waiver of Monthly Deduction for Disability can be purchased on either or both insureds; however, no additional benefit is paid if both insureds are totally disabled.


Ages: 20-59

Insure your insurability! Buy additional amounts of insurance, on specific option dates, without a medical exam, at standard rates. When you marry or become a parent, you may exercise the next available option. Waiver of Monthly Deduction for Disability must be included on both insureds to add this rider. Option ages, based on the older insured, are ages 22, 25, 28, 31, 34, 37, 40, 43, 46, and 49.


Coverage: $50,000

Ages: 20-37


*With Joint Universal Life it is possible that coverage will expire when either no premiums are paid following the initial premium or subsequent premiums are insufficient to continue coverage.

For more details on coverage, costs, restrictions, and renewability; or to apply for coverage, contact your local State Farm agent.

Insurance policies and/or associated riders and features may not be available in all states, and policy terms and conditions may vary by state.

Only four withdrawals are allowed per year ($500 minimum per withdrawal). Surrenders may be subject to a surrender charge. Unpaid loans and withdrawals will reduce the death benefit and the policy's cash value. Withdrawals also will reduce the policy account value and cash surrender value. Loans accrue interest.

Changes in policy coverage amounts are subject to policy limits. Increases are subject to underwriting and may require additional premium. Decreases in coverage are subject to policy limits.

This is a general description of coverage. A complete statement of coverage is found only in the policy.

Not FDIC Insured
  • No Bank Guarantee
  • May Lose Value

Issued by:
State Farm Life Insurance Company (Not licensed in MA, NY, or WI)
State Farm Life and Accident Assurance Company (Licensed in NY and WI)
Home Office, Bloomington, Illinois

Each insurer is financially responsible for its own products.