Permanent Life Coverage Paid-Up in Ten Years

10 Pay Life

The coverage lasts. The premiums don't. This policy can be completely paid-up in 10 years. If purchased early enough in life, it'll help you avoid paying premiums during your retirement. That's the beauty of 10 Pay Life. You can secure a lifetime of benefits, without paying a lifetime of premiums.

Did you know? A limited payment life policy is ideal for a child – in addition to starting insurance coverage they will need as an adult, the policy earns cash value, which generally grows tax-deferred.

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Premium Duration 10 years
Coverage Starting at $10,000
Issue ages 0 - 75

How it Works

  • Premiums are payable for 10 years, and the protection lasts for the duration of your life.
  • You can pay premiums monthly, semi-annually or annually.
  • Guaranteed cash value grows tax-deferred, which can be accessed during your lifetime.
  • No matter how large the death benefit, it passes to your beneficiaries generally income tax-free.

And typically, the sooner you purchase your limited payment life policy, the lower your premiums will be. Talk to a State Farm® agent for details on costs, coverages and restrictions.

Customize Your Policy

Add value to the 10 Pay Life insurance policy with options and riders.

Waiver of Premium for Disability

Helps preserve your policy at a time when income may be limited due to a disability. If you become totally disabled (as defined in the policy) prior to age 60 for six continuous months, this optional coverage will waive future policy premiums as they become due as long as you remain totally disabled. This rider coverage automatically terminates on the policy anniversary when you attain age 60, unless disability occurs prior to that time.