At Bluewave Insurance we are proud to offer our clients with State Farm burial insurance. To learn more contact us at 800-208-4974.
State Farm Company History & Background
State Farm is one of the oldest insurance and most reputable insurance companies in the market today. They were have been serving the community since 1922 and have been in business for over 90+ years. While most know State Farm for their car and home insurance through their famous commercials, they also have strong life insurance and burial/final expense offering.
Not only is State Farm an outstanding company they also offer these additional insurance policies:
- Health insurance
- Disability insurance
- Liability insurance
- Term Life insurance
- Whole Life insurance
- Universal Life Insurance
If you’re interested in State Farm and their insurance offerings, give us a call at 800-208-4974 to learn more and get a clearer idea if you want to sign up for them. One of our experienced insurance agents will be happy to answer any questions you may have.
State Farm Final Expense Financial Strengths and Rating
For having been in business for nearly 100 years, it’s clear that State Farm has strong financial success. In their 2019 Life Insurance reports State Farm reported a premium income of $5.5 billion and $578 million in dividends to the policyholder. With a total net income of $673 million for 2019. By the end of 2019, there was $959 billion in total life insurance in force.
State Farm also currently has an A++ rating by A.M. Best, this is the highest possible rating that’s given to companies that have shown stability and financial strength. In addition, they are rated AA by S&P Global Ratings, also the highest rating given to companies. State Farm was able to get this rating because of its strong claims-paying ability.
Luckily for folks, you are not required to take a medical exam or physical to qualify for State Farm’s burial insurance. However, you will have to answer basic health questions, and they will have to review your medication and prescription drug records.
Depending on the state you live in, age, gender, health, the specific premium you pay per month may vary. For example, State Farm pays a Final expense fixed benefit of $10,000 to beneficiaries in New York if they pay their monthly premiums.
State Farm has a long history of best-in-class customer service and fulfilling its claims. In this case, having funeral insurance would best benefit you and your loved ones in order to avoid out-of-pocket costs. Without Final expense insurance, your loved ones could be left with a $10,000+ bill. In order to avoid that we recommend, folks sign up for burial insurance because you could be paying as low as $50 a month to cover burial costs. Contact us at 800-208-4974 to learn more or to receive a free consultation.
Why Do You Need Burial Insurance or Final Expense Insurance?
Death is probably the last thing one wants to plan or think about, but when you don’t prepare, that could leave your loved ones footing the bill on your funeral costs. According to the National Funeral Directors Association, the average cost of a funeral for 2020 is now around $7,000 and $12,000. For a cremation, it is $6,000 to $7,000, and this cost does not account for the cemetery, monument, marker, or flowers, all those would have to be out of pocket costs.
It’s clear that dying is not cheap, basic funeral expenses can be difficult to afford. That’s why having Final Expense insurance or burial insurance will be the best option for you. You won’t have to worry about who will pay for these costs once something unexpected happens. State Farm is one of the best life insurance companies and offers a comprehensive burial insurance plan.
If you are wondering which burial insurance provider to choose and want to compare rates and plans, give us a call at 800-208-4974. Our team of experienced insurance agents at Bluewave Insurance would be happy to help answer any questions!
Benefits of State Farm Burial Insurance Policy
State Farm offers a comprehensive Final Expense or insurance plan that gives the listed beneficiary a fixed $10,000 payout as a death benefit. This money will be used for funeral expenses or any other expenses that the listed beneficiary wants to use the money for.
In order to qualify for State Farm funeral insurance, you must be between the age of 50 to 80 years old. The premiums remain the same and may be payable beyond the age of 100, and the coverage limits are to $10,000.
Here are some of the highlights on why folks choose State Farm for their burial insurance Needs:
- Death Benefits guaranteed as long premiums are paid
- Policy holders can choose between monthly or annual premium payments
- Tax-deferred policy cash value
- Listed beneficiary may freely use the money for non-burial expenses
- Policy may earn dividends and can accumulate interest.
State Farm Whole Life Insurance Policy
State Farm Whole Life Insurance Policy helps beneficiaries with unexpected costs. Through the Guaranteed death policy or burial insurance, this policy can help pay for multiple needs such as loss of income, mortgage payments, educational costs, funeral costs, and much more. The benefits can also be left as an inheritance for the next generation because these policies build tax-free cash value.
Through State Farms Whole Life insurance, this policy offers premiums and protection as long as you are alive. You must pay the premiums in order to keep the plan going. The premium can be paid in a single premium or over time to 100 years old.
Here are some highlights of State Farms Whole Life Insurance Policy
- Premiums guaranteed to stay the same your entire life
- Policy may earn dividends that can be paid in cash
- Accumulate interest to pay for additional insurance services
- Help pay for unexpected life expenses
To learn more about Whole Life Insurance, speak with one of our trusted insurance agents to learn more. Contact us at 800-208-4974 and receive a free insurance quote!
State Farm Term Life Insurance for Policy Holders
A more affordable option is a Term Life Policy from State Farm. With this policy, it also provides death protection for a specific period of time, hence the “term” in this life insurance plan. This Term plan can either be purchased in a large amount or small premium.
The Term plan best suits people who have short-term goals like coverage to pay for a loan or extra child-care protection. Even though this plan does not contain cash value, you still receive protection if premiums are paid. It is also renewable and convertible.
If you would like to sign up for a Term Life Insurance plan or have questions about which life insurance plan to go for, contact us at 800-208-4974. One of our experienced insurance agents would be happy to speak with you and answer any questions.
State Farm Guaranteed Acceptance and Guaranteed Issue
State Farm also provides guaranteed acceptance to folks. If you have pre-existing health issues like congestive heart failure or other health complications, you will not be turned away. You will only have to answer some basic health questions in order to sign up for State Farms’ life insurance plans.
Depending on the insurance coverage you choose you may get certain guarantees in the plan. Coverage amounts vary so it’s important to check with an insurance agent which plan is best for you. For example, if you decide to move forward with a burial insurance plan, you are guaranteed a $10,000 cash payout when you die. This amount can be used to pay for funeral home services, a headstone, or non related funeral services such as credit cards, and family members’ expenses.
Our Expert Recommendation for State Farm Burial Insurance
We believe State Farm offers a strong product. They are one of the best burial insurance companies out there. Their burial insurance, as well as whole and term life insurance policies, provide great coverage. We believe folks should be covered for life, just in case anything unexpected happens. State Farm has shown exceptional service and insurance benefits that we believe are extremely valuable for our clients.
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To learn more about State Farms Life insurance plans, or to receive a free consultation, contact us at 800-208-4974. Our trusted insurance agents will be happy to answer any questions.
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