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Term Life Insurance Renewal

Term Life Options FAQs:

Your term life policy premium is about to convert to annually renewable. Now what?

We hope this answers your questions about the upcoming changes to your term life insurance policy. If you would like more detail, please contact your State Farm agent.

1 Permanent life insurance develops cash value that can be borrowed. Policy loans accrue interest and unpaid policy loans and interest will reduce the death benefit and cash value of the policy. The amount of cash value available will generally depend on the type of permanent policy purchased, the amount of coverage purchased, paid premiums, the length of time the policy has been in force and any outstanding policy loans. There may be tax consequences associated with policy loans. State Farm agents do not provide tax or legal advice. Please consult your tax or legal advisor regarding your specific circumstance.

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

Life Lens

Our seven-question Term Life Insurance Renewal questionnaire is a good place to start looking at some key factors that can impact coverage, costs and your life insurance decision for the future.