Protecting your loved ones from financial hardship in the event of your death — that’s why you’re interested in life insurance, isn’t it? But instead of lifelong coverage, you may only need to protect your family from temporary expenses that have a limited time frame — such as the mortgage, your children’s education expenses or a home equity loan.
You also want to make sure you’re getting good value for your money. If you outlive the term of your policy, the premiums paid will be returned to you.
Return of Premium life insurance from State Farm® can help you meet all those needs.
You get more than a sense of security.
Return of Premium is term life insurance. So it offers you financial protection for a specified term of 20 or 30 years, whichever you select.
You can choose to pay your premiums on an annual or monthly basis. No matter which you choose, your level premium payment is guaranteed to remain the same for the entire term. Your beneficiaries will receive a death benefit, usually federal income tax free, if you die while your policy is in force.
Here’s why we call it Return of Premium.
If your policy’s death benefit is not paid within the initial 20- or 30-year term, you’ll get your money back at the end of the term. What else would you expect from a good neighbor?
You can keep your policy in force, after the initial term, on an annually renewable basis to age 95. So your life insurance can continue if you need it. Your premiums will increase annually but will never exceed the maximum premium stated in the policy. Your policy builds cash value you can use during your lifetime.
Just as you build up equity in a home, you can also build up equity over time — called cash value — in a State Farm Return of Premium life insurance policy.
Cash value creates an asset, which you can borrow against during the level premium period. Please note that unpaid loans will reduce your Return of Premium benefit.
What if you decide later that you’d like lifelong coverage? No problem.
State Farm Return of Premium life insurance comes with an option that lets you convert to permanent coverage and premiums at any time — no matter your state of health at the time.4 Conversion options vary by state.
You can count on State Farm.
Life insurance is a promise to pay your beneficiary upon your death. And that promise is only as good as the company that stands behind it.
State Farm is one of the most financially stable insurers in the United States. Independent ratings agencies — like A.M. Best, Moody’s, and Standard & Poor’s — consistently award State Farm very high ratings for financial strength and claims-paying ability.
Since 1929, we’ve helped millions of customers protect their assets and provide a more secure future for their families. Now we’d appreciate the opportunity to show how we can do the same for you.
Let’s talk more about how Return of Premium can give your loved ones valuable financial protection if they need it — and give you money back if they don’t.
