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Term life insurance vs. permanent life insurance: Which life insurance is best for you?

Whether you're looking for the affordability of term insurance or the lifelong protection and cash value of permanent insurance — or a combination of both — State Farm Life Insurance Company and State Farm Life and Accident Assurance Company (licensed in NY and WI) have options to fit your needs and budget. Learn more about the types of life insurance available.

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If you are interested in additional life products, please contact a State Farm agent.

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Term life insurance

A relatively large amount of Term life insurance may be purchased for a low initial premium. It may be appropriate for temporary coverage for needs like:

  • Home mortgage
  • Outstanding debt
  • Educational expenses
  • Auto loan

Permanent life insurance

Permanent life insurance offers a level premium for a coverage amount you choose. It provides lifetime coverage, provided premiums are paid and the coverage remains in force, and builds cash value. Permanent policies are eligible for dividends, although dividends are not guaranteed. It's best for lifelong needs like:

  • Loved one's financial needs
  • Final expenses
  • Estate planning
  • Contributions to charity
  • Business legacy
  • Access to accumulated cash value

Let us help you answer the term vs. permanent life insurance question and select the coverage that best fits your needs. Call or visit a State Farm® agent today.

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Policy Series Info

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

Each State Farm insurer has sole financial responsibility for its own products.

State Farm Life Insurance Company (Not licensed in MA, NY or WI)
State Farm Life and Accident Assurance Company (Licensed in NY and WI)
Bloomington, IL