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How it Works
Typical Uses:Term insurance is the most straightforward form of protection. You generally pay premiums on a monthly or annual basis and your family is protected for that "term". State Farm© offers a variety of term products to fit your needs, time frame, and budget.
- Help provide for a family's loss of income.
- Cover short- term debts and needs.
- Provide additional insurance protection during the child raising years.
- Provide longer term protection to pay off a mortgage, or postsecondary education
Term 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".
Select Term
Select 10, 20 or 30 years of coverage and a guaranteed benefit. The affordable premiums are level for the initial policy term.
Features
- Guaranteed renewable to age 95.
- Coverage starting at $100,000.
- Convertible to a permanent plan regardless of health.
Return of Premium
Return of Premium Term offers you coverage with a level premium payment of 20 or 30 years, whichever you choose. If you outlive that premium period, the policy premiums you've paid will be returned to you.*
- All premiums paid will be returned at the end of the term period.
- Coverage starting at $100,000.
- Guaranteed renewable to age 95.
- Convertible to a permanent policy regardless of health.
Mortgage Life 15 & 30
Mortgage Life 15 & 30 is designed to provide funds for the repayment of a residential mortgage in event of premature death. After the first 5 years, the death benefit, which is meant to behave similar to your mortgage, decreases over the life of the policy. It is sometimes called a "decreasing term" policy.
- Coverage is available for 15 or 30 year periods.
- You choose the amount based on your mortgage balance.
- $50,000 minimum coverage amount.
- Convertible to a permanent policy regardless of health.
5 Year Term Life
Provides affordable life insurance protection for covering any short-term life insurance need you may have. You have the right to renew for an additional 5 year term up to age 85, though premiums will increase with age.
- Guaranteed renewable to age 85.
- $50,000 minimum coverage.
- Convertible to a permanent policy regardless of health.
Disclosures
Insurance policies and/or associated riders or features may not be available in all provinces, and policy terms and conditions vary by province.
This is a general description of coverage. A complete statement of coverage is found only in the policy.
For more details on coverage, costs, restrictions, and renewability; or to apply for coverage, contact your local State Farm agent.
State Farm agents do not provide tax, legal, or investment advice. Please consult your tax, legal, or investment advisor regarding your specific circumstances.
Coverage will expire when either no premiums are paid following the initial premium or subsequent premiums are insufficient to continue coverage.
Dividends are a return of premium and are based on the actual mortality, expense, and investment experience of the Company.
Dividends are not guaranteed.
Issued by:
State Farm International Life Insurance Company Ltd.
Aurora, Ontario. Licensed in Alberta, New Brunswick and Ontario.
IL-1001.0 CAN