State Farm® Introduces a Life Insurance Product to Help Keep Families from Losing their Homes

Bloomington Ill., April 2, 2008 -- Home foreclosures are increasing at an alarming rate, but one of the most overlooked reasons people lose their homes is due to the death of the family "bread winner". This is because they don't have appropriate life insurance coverage to cover that loss. One way homeowners can protect their home is through mortgage term life insurance. State Farm life insurance affiliates are now offering Mortgage Life Insurance policies that will provide a death benefit that can be used to help pay off the mortgage balance in the event of the insured's death.

Owning a home is probably the largest source of personal debt a family could have and Mortgage Life Insurance can be an affordable way to protect this investment. For example, a 35-year old male or female non-tobacco user can get $75,000 of Mortgage Life coverage for a 30 year term for less than $25 per month. The policy's death benefit can help families stay in their home after the death of the insured.

A Mortgage Life Insurance policy can provide:

• a guaranteed death benefit,
• level coverage amount for the first five years, and then an annually decreasing amount to a minimum of 20 percent of the original amount
• the coverage amount you need based on your mortgage balance; especially for first-time homebuyers The minimum face amount is $50,000.
• coverage available for 15 or 30 years
• conversion to whole or universal life insurance—no matter what the insured's state of health is (conversion options vary by state)
• you can take the policy with you if you move to a different home
• flexibility in choosing a beneficiary – it does not have to be the bank

Customers can contact their State Farm agent or get more information about Mortgage Life Insurance on statefarm.com. Mortgage Life policies are not available in California, Massachusetts, Mississippi, Nevada and Rhode Island. They are available in the Canadian provinces of Alberta, New Brunswick, and Ontario.

(Policy series 08022 in all states except MT, NY, WI, CA, MS, NV; A08022 in NY & WI; 08072 in MT; not available in CA, MS, NV.)

State Farm life insurance affiliates:

State Farm Life Insurance Company
(Sin licencia en MA, NY, o WI)

State Farm Life and Accident Assurance Company
(Con licencia en NY y WI)
Bloomington, Ill.

State Farm International Life Insurance Company, Ltd.
Aurora, Ontario

State Farm® asegura muchos más vehículos y viviendas que cualquier otra aseguradora en Estados Unidos. Es la aseguradora líder de embarcaciones y lleva el liderazgo en Canadá. Los 17,000 agentes y 68,000 empleados de State Farm responden a más de 76 millones de pólizas de autos, incendio, vida y salud en Estados Unidos y Canadá, y más de 1.7 millones de cuentas bancarias. State Farm Mutual Automobile Insurance Company es la empresa matriz de la familia de compañías de State Farm. State Farm ocupa el puesto No. 31 en la lista de las compañías mas grandes según la revista Fortune 500. Para mayor información, visite statefarm.com® o statefarm.ca® en Canadá.