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.
Table of contents
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 yes you can only get $10,000 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.
Does State Farm Offer Burial Insurance?
As we already stated yes State farm has final expense under their State Farm life insurance portfolio but the coverage is just not ideal. We would never recommend just $10,000 in final expense to our clients unless they knew for a fact that was going to be their funeral bill and that 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.
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 Rates
You will see below we are going to provide sample rates and comparisons from State Farm life insurance compared to our top life insurance companies like Mutual of Omaha Burial Insurance.
You can also run quotes on State Farm’s Website and compare them with our quoter.
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 50 – 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.
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. They don’t even offer a guaranteed issue plan if you are too sick to qualify they just deny you flat you would probably have to ask about a GI plan from them. A lot of the companies we work with would at least offer you a waiting period or a return of premium which is typically what happens if you are too unhealthy to pass the carrier’s health questions.
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.