Best Life Insurance Companies

State Farm Life Insurance Reviews And Ratings

Updated on
state farm
State Farm Ratings
Overall Rating
Customer Service
Value for Price
Website & Apps
Customers who recommend 81%
AM Best Financial Strength Ratings A++

About State Farm

Customer service/Claims 800-782-8332
Corporate Headquarters State Farm Insurance
One State Farm Plaza
Bloomington, IL 61710

Founded in 1922, by Illinois farmer G.J. Mecherle, State Farm started small with a focus on good service and great value.

The original mission was to treat its customers fairly and to do right by them. By remaining in the communities 100 years later, that mission still seems to hold true, and even has a presence in its business tagline: Like a good neighbor, State Farm is there.

Its commitment to safety education is apparent with its community programs aimed at reducing injury and loss, as well as teaching safety, especially to young drivers.

Today, the company handles 84 million policies.

State Farm Coverages

  • Term
  • Whole Life
  • Universal life

State Farm with Options

  • 10-, 20-, and 30-year policy options
  • Instant term life insurance option
  • Return of premium insurance
  • Varying payment plan options
  • Final expense coverage
  • Flexible care coverage
  • Family coverage
  • Disability waiver of monthly deduction
  • Guaranteed insurability option

State Farm: Types of Insurance

  • Health
  • Disability
  • Small Business
  • Liability
  • Identity restoration
  • Pet medical insurance
  • Medicare supplement
  • Supplemental insurance
  • Boats
  • Auto
  • Home

State Farm discounts

  • Multi-policy discount

Best life insurance companies 2021: State Farm

Like a good neighbor, State Farm is there.

How State Farm stacks up

State Farm earned 3.5 out of 5 stars in our annual review of fifteen Best Life Insurance Companies. They got 3.5 and 4 out of 5-star ratings in price, customer service and website & apps.

When we asked State Farm customers if they would recommend the company to others, 81% said yes.

How likely customers would recommend this company?

48% I would definitely recommend this company
33% I would probably recommend this company
17% Neutral
2% I would probably not recommend this company
0% I would not recommend this company

Reasons for Buying

Customers of State Farm originally decided to purchase from the company for these reasons:
  • 17% Saw TV commercial
  • 17% Recommended by friend or family member
  • 14% I had other insurance with this company
  • 14% Offered best price
  • 14% Reputation
  • 10% Saw online ad
  • 7% Was the company my parents had
  • 5% Financial strength rating
  • 2% The company website and mobile apps are easy to use and helpful

What kind of life insurance do you have?

Permanent, including whole life
Term
Both
Other

How much do you pay annually for your life insurance policy (per person if have more than one life policy in your household)

Less than $250
20%
$500 - $749
18%
$250 - $499
16%
$2,000 - $2,249
8%
$750 - $999
8%
$1,250 - $1,499
7%
$1,000 - $1,249
5%
$1,500 - $1,749
5%
$4,000 or more
5%
$2,250 - $2,499
4%
$2,500 - $2,749
2%
$2,750 - $2,999
1%
$3,000 - $3,249
1%

Ratings on Website & Apps

  • Completely satisfied / Outstanding website & apps that give me what I need and more 47%
  • Fairly satisfied / Fulfills my needs OK 24%
  • Average website and apps 20%
  • Very unsatisfied / digital offering is severely lacking 4%
  • Unsatisfied / website and/or apps are not fulfilling my needs 3%

How do you prefer to deal with insurer and policy?

  • In person 33%
  • Phone 33%
  • Email 14%
  • Interactive website 9%
  • Mobile App 11%

Customer Complaint Ratio

info

The complaint data is gathered from the NAIC Complaint Index, which collects complaint information from state insurance regulators and then compares a company’s performance to other companies in the same insurance market. The national average is always calculated to be 1.00; those above 1.00 are worse than the national average and those below are better (have less complaints) than the national average. Read more at the NAIC website.

Note: Many companies have a variety of subsidiaries listed with the NAIC, the one rated here may be different than the one that writes your policy. Check with your company/agent for specific information.

State Farm’s customer complaint ratio for Individual Life insurance is 0.37
State Farm’s customer complaint ratio for Group Life insurance is 2.76

In which states is State Farm available?

Customer Reviews

Our survey asked policyholders to share experiences or give feedback that they would like to share with others looking to potentially buy from their current insurance company. Here's what they had to say:

Customer Reviews

134 Reviews. 3.5 Stars out of 5
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