2024 State Farm Burial Insurance Review(2 Year Waiting Period)

Yes, State Farm does have burial insurance and no it is not for everyone. This is going to be our State Farm burial insurance review and is based on our own professional opinions when it comes to State Farm burial insurance.

There are some positives to their final expense insurance but for the vast majority of consumers, we would not recommend their burial insurance as a suitable option for most people.

Burial insurance is not a “one size fits all” kind of product there are different companies with different underwriting niches for specific people.

For example, if you have COPD you should be working with us to purchase Aetna Accendo Final Expense Insurance because they will accept you with that condition.

With that in mind, this is where State Farm burial insurance falls short.

State Farm Burial Insurance is Guaranteed Issue

State Farm’s burial insurance(funeral, cremation and final expense insurance) policy is a guaranteed issue whole life plan. This means there are no health questions or medical underwriting.

Since approval is guaranteed there is an automatic 2 year waiting period(return of premiums plus 10%). The policy will pay the death benefit to your beneficiary after you have paid into the policy for 2 years.

If you die within those 2 years your beneficiary will receive a return of premiums paid plus 10% interest. In addition to this there is an accidental death benefit.

If the insured dies due to an accident in the first two years the full death benefit is paid.

Now the only 2 coverage amounts offered by state farm burial insurance are $10,000 or $15,000. Those are your only coverage amounts you can choose from. State farms guaranteed issue life insurance is available in all states except California and New York.

Source: State Farm Guaranteed Issue Life Insurance

Does State Farm Have Final Expense Insurance?

Yes, State Farm burial insurance is final expense insurance just different names to help define the life insurance’s purpose.

State Farm final expense insurance is a whole life insurance policy with a small face amount of $10,000 or $15,000 yes you can only get up to $15,000 in coverage with State Farm final expense.

Now you may be able to cover a burial with $10,000 depending on your state but if the funeral exceeds the amount of $10,000 State Farm burial insurance will not be able to cover the full amount.

This is why this type of State Farm life insurance policy is not ideal for most consumers.

What if your burial comes out to $16,000 or $20,000 depending on your state?

Your loved ones will be responsible for coming up with the extra $10,000 which means State farm burial insurance may have covered a good amount of the bill but final expense insurance is supposed to cover all of the costs so your family has peace of mind.

This is a definite strike against burial insurance from State Farm.

State Farm Final Expense Insurance Cost and Rates

You will see below we are going to provide sample rates and costs of State Farm final expense insurance. The cost of both their $10,000 whole life and $15,000 whole life plans are included for their guaranteed issue life insurance coverage.

You can also run quotes on State Farm’s Website and compare them with our quoter.

Age	$10,000 Male	$10,000 Female	$15,000 Male	$15,000 Female
45	$34	$29	$48	$40
50	$41	$34	$59	$49
55	$51	$42	$73	$60
60	$63	$51	$92	$74
65	$80	$64	$118	$94
70	$103	$84	$152	$123
75	$136	$112	$201	$165
80	$176	$153	$261	$226

Does State Farm Offer Burial Insurance?

As we already stated yes State farm has final expense under their State Farm life insurance portfolio. That being said coverage is just not ideal.

We would never recommend just $10,000 in final expense to our clients. Now if they knew for a fact that was going to be their funeral bill it would take care of their family 100%.

The thing is burial insurance with State Farm is not ideal because they do not specialize specifically in burial insurance.

State Farm life insurance consists of term life insurance and universal life insurance which is another form of whole life insurance.

That being said State Farm Life insurance is not their bread and butter it is their property and casualty coverage.

Use Life Insurance Brokers over P&C Companies

This is why you should never go to a property and casualty company for your life insurance needs because State Farm life insurance is not tailored to your specific needs.

That is why you are better off working with a company that specializes in final expense whole life insurance policies like us.

When it comes to your final expense needs we know the ins and outs of whole life insurance policies. Where State Farm insurance specializes more so in property casualty coverage we specialize in final expense whole life.

So we do not recommend State Farm life insurance to get the best kind of whole life insurance policy you need to work with us.

We have over 15 different companies that offer a whole life insurance policy up to $35,000 in coverage compared to State Farm life insurance $10,000 make coverage for burial.

Keep in mind that State Farm Insurance is usually 10 – 20% more expensive than an exclusive life insurance company designed to offer a life insurance policy for burial.

There are so many better options than State Farm life insurance or Colonial Penn, Lincoln Heritage, and AARP.

State Farm Final Expense Insurance Pros & Cons

The pros and cons for State Farm funeral insurance are going to listed below.

Pros

• Guaranteed Issue Coverage: State Farm final expense insurance is guaranteed issue whole life. There are no health questions or medical underwriting. Anyone can get coverage which is good for seniors that need funeral insurance with pre-existing conditions.
• Level Premiums & Death Benefit: State Farm final expense insurance has premiums than ever increase for the life of the policy. The death benefits of State Farm funeral insurance also never decrease which guarantees the coverage.
• Cash Value Builds: State Farm funeral insurance builds cash value the same as any other whole life policy. This is additional money the policy holder can access and borrow against.

Cons

• Limited Coverage Amount: State Farm final expense insurance only offers $10,000-$15,000 in coverage. If you need more coverage you will have to look elsewhere for a policy.
• Automatic 2 Year Waiting Period: Everyone gets a 2 year waiting period regardless of their health. So even if you are healthy and have this coverage you will have to wait 2 years before the policy will payout when you die.
• More Expensive Compared to Other Companies: State Farm funeral insurance is more expensive compared to other life insurance companies like Mutual of Omaha.

Key Facts About State Farm Burial Insurance

State Farm funeral insurance just simply does not compare to all of the other better options available to seniors.

You are much better off going with a life insurance company like American Amicable or Prosperity Life. Some of the key facts about State Farm Life Insurance for burial are the following:

It can cover ages 45 – 80 which is not special or new a lot of insurance companies can cover these ages and higher.

Another key fact is the $10,000 coverage is level which means the life insurance company premiums lock in and never increase for the life of the policy.

The death benefit of the policy will never decrease which means no matter how old you get you will never have less coverage from the insurance company.

Coverage never expires and will stay with you the rest of your life until you pass away.

All Burial Insurance Plans Have These Same Key Benefits

Now here’s the thing, any insurance company that offers coverage for burial is going to be the exact same in terms of these features.

State Farm funeral insurance is not holding something special here.

This is the standard for these types of plans they will build cash value, require no medical exam just a medical history check via the MIB and guarantee a death benefit to your beneficiary.

So State Farm Insurance offers nothing special compared to other insurance companies that specialize in funeral coverage.

In addition to this State Farm life insurance has strict underwriting for their plans and their is no rated policies or modified type plans.

State farm insurance will either approve or deny your application on the spot depending on your health history, answers to their health questions and prescriptions.

Again when comparing State Farm insurance to other insurance policies designed for burial they fall short.

This is why you want to work with a company that has access to over 10 different carriers to guarantee you can get approved depending on your health conditions.

This is why we cannot recommend State Farm life insurance for mostly anyone.

State Farm life insurance is only best for male tobacco users age 78, 79, 80 that is the only scenario we could find in our research that would make State Farm’s whole life policy a viable option.

You can see the comparison rates in the previous section if you missed it.

Strict Underwriting Not for Everyone

As we mentioned State Farm’s whole life insurance coverage underwriting is very strict compared to other permanent life insurance companies.

Now the health questions State Farm will ask you are not disqualifiers on the plans that we offer which is why we believe their underwriting to be so strict and unnecessary.

This is why if you really want to protect your family from your final expenses fill out our quote form.

State Farm Burial Health Questions

These are the health questions they will ask and if you answer “yes” to any of them you will be denied without any options for a guaranteed acceptance plan.

State Farm Company Background

• State farm was founded in 1922 by George J. Mecherle.
• Their Head Quarters is located in Bloomington, IL
• The current CEO is Michael L. Tipsord
• Their Customer Service number is 1(800) 782 8332
• They currently hold an A++ Rating by A.M. Best.