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Term insurance provides temporary life insurance protection. Because term insurance protection is for limited periods, term premiums are initially lower than whole life premiums.
- 5 Year Term
- Select Term – 10, 20, 30 Year
- Mortgage Life – 15, 30 Year
- Return of Premimum – 20, 30 Year
5 Year Term
Ages Available:
16-75 (74 in NY)
Application Minimum:
$50,000
Features:
Provides term life protection for a five year period and is renewable at higher premiums for subsequent five year periods until the insured is age 85 (age 80 in NY). Premiums may be adjusted after 5 years. Term conversion to any whole life policy is available, restrictions may apply.
(Policy series 07021 in all states except MT, NY, WI; 07071 in MT, A07021 in NY & WI)
Learn more about this policy
Select Term
Product |
Years of Level Premium |
Ages Available |
| Select Term - 10 | 10 | 20-75 |
| Select Term - 20 | 20 | 20-65 |
| Select Term - 30 | 30 | 20-45 |
Application Minimum:
$100,000
Features:
Provides term life insurance protection to age 95. The premiums are level for the first 10, 20 or 30 years, depending on the policy selected, and are adjustable thereafter. After the level period, premiums go up significantly and increase annually. Six premium classifications are available: Elite Preferred Non-Tobacco (application minimum of $250,000), Super Preferred Non-Tobacco, Preferred Non-Tobacco, Non-Tobacco, Preferred Tobacco and Tobacco. Term conversion to any whole life policy is available, restrictions may apply.
(Policy series 06020 in all states except MT, NY, WI; 06070 in MT, A06020 in NY & WI.)
Learn more about this policy
Mortgage Life
Product |
Years of Coverage |
Ages Available |
| Mortgage Life - 15 | 15 | 20-60 |
| Mortgage Life - 30 | 30 | 20-45* |
*Issue ages are 20-36 in NY
Application Minimum:
$50,000
Features:
Provides level term life insurance protection for a five year period then decreases annually to approximate the outstanding balance of a mortgage. Death benefit never drops below 20% of original face amount.
Annual Decreasing Term policy series 08022 in all states except MT, NY, WI; 08072 in MT, A08022 in NY & WI. Learn more about this policy
Return of Premium Term
Product |
Years of Level Premium |
Ages Available |
| Return of Premium Term - 20 | 20 | 20-60* |
| Return of Premium Term - 30 | 30 | 20-45 |
*Preferred Tobacco and Tobacco issue ages are 20-55
Application Minimum:
$100,000
Features:
Provides term life insurance protection to age 95. The premiums are level for the first 20 or 30 years, depending on the policy selected, and are adjustable thereafter. After the level period, premiums go up significantly and increase annually.
Return of Premium Feature: The initial premium is guaranteed for the level premium period. After this time period, if the insured survives, the premiums are returned.
Six premium classifications are available: Elite Preferred Non-Tobacco, (application minimum of $250,000) Super Preferred Non-Tobacco , Preferred Non-Tobacco, Non-Tobacco, Preferred Tobacco and Tobacco. Term conversion to any whole life policy is available, restrictions may apply.
(Adjustable Premium Level Term Life Insurance policy series 08025 in all states except MT, NY, WI; 08075 in MT, A08025 in NY & WI.)
This is a general description of coverage. A complete statement of coverage is found in the policy.
Contact your State Farm agent for details on coverage, costs, restrictions, and renewability.
Issued by:
State Farm Life Insurance Company (Not licensed in MA, NY or WI)
State Farm Life and Accident Assurance Company (Licensed in NY and WI)
Bloomington, IL
IL-8.14
