Start Of Main Content

Single premium life insurance - a lifetime of benefits, just one payment

Life insurance can be the foundation for a family's financial protection. State Farm Life Insurance Company and State Farm Life and Accident Assurance Company offer a variety of whole life insurance policies that not only helps your family prepare for the unexpected, but can build cash value you can use during your lifetime.

Find an agent to get a life quote

If you are interested in this type of life product, please contact a State Farm® agent.

Items needed for a quote

This single premium whole life insurance policy provides lifetime protection with only one premium payment. No additional payments will ever be required. In other words, it becomes "paid-up" after one premium payment with nothing else to pay for the rest of the insured's life.


Premium Duration Only One Premium Due
Coverage Minimum face amount $15,000
Issue Ages 0 to 80


One premium payment for a lifetime of benefits. Look into what Single Premium life insurance can offer.

  • You make one single premium payment.
  • Guaranteed cash value generally grows tax-deferred. If you have accumulated cash values you may access them during your lifetime.1
  • Eligible to earn dividends. Overtime dividends may accumulate at interest, purchase paid up additional insurance, 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 reduce your rates on your auto premiums.

Note: 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. In order to defer taxation, the paid-up additions dividend option should be chosen. Unpaid loans will reduce the death benefit and cash surrender value. Loans accrue interest.

State Farm agents do not provide tax or legal advice. Please seek professional tax or legal advice regarding your situation.

Need help choosing a policy? Compare policies.



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, 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 producers do not provide tax or legal advice. Please consult your tax or legal advisor regarding your specific circumstances.

2 Dividends are a return of premium and are based on the actual mortality, expense, and investment experience of the Company. Dividends are not guaranteed.

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

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

There are limitations and conditions regarding payment of benefits due to misrepresentations on the application or when death is the result of suicide in the first two policy years.

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

Neither State Farm® nor its agents provide tax or legal advice.

Policy Series Info

Securities are not FDIC insured, are not bank guaranteed and are subject to investment risk, including possible loss of principal.

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