Get Affordable Protection — Term Life Insurance
How it works
Term life 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 affordable term life insurance 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 help your family pay off a mortgage or to help pay for a post-secondary education.
Get a Life Quote
Term Life Insurance Policies
Sample rates are for a 25-year-old female in excellent health. Get a quote to see personal pricing.
Need help choosing a policy? Compare policies.
Select Term Life Insurance
Select 10, 20, or 30 years of coverage and a guaranteed benefit. Coverage starts at $100,000, and the affordable premiums are level for the initial policy term. Once past the level premium period, premiums will increase annually. The policy is guaranteed to renew up to age 95 and is convertible to a permanent policy regardless of health, subject to age limits.
Return of Premium Term Life Insurance
Return of Premium Term Life insurance offers you coverage with a level premium payment for 20 or 30 years, whichever you choose. If you outlive that premium period, all policy premiums you've paid will be returned to you*. Coverage starts at $100,000. The policy is guaranteed to renew up to age 95 and is convertible to a permanent policy regardless of health, subject to age limits. Once past the level premium period, premiums will increase annually.
Mortgage Term Life Insurance
Mortgage Life 15 & 30 is designed to provide funds for the repayment of a residential mortgage in the event of premature death. Coverage is available for 15- or 30-year periods. After the first five 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. You choose the amount of coverage ($50,000 minimum) based on your mortgage balance. The policy is convertible to a permanent policy regardless of health, subject to age limits.
5 Year Term Life Insurance
This affordable protection covers any short-term life insurance need you may have. Coverage is available for $50,000 to $90,000, and you have the right to renew for an additional five-year term up to age 85, though premiums will increase with age. The policy is convertible to a permanent policy regardless of health, subject to age limits.
How Much Do You Need?
Find the right coverage for you.
The Right Company. The Right Price.
For over 80 years we've delivered on our promise to millions of State Farm customers.
*The Return of Premium benefit on the base policy is taxable and will have tax implications. See your State Farm agent for details.
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 a 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.
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.
State Farm International Life Insurance Company Ltd.
Licenced in Alberta, New Brunswick and Ontario.