State Farm
The mutual firm State Farm, which was established in 1922 as a car insurance provider, now has 85 million active policies and accounts. Products include health, liability, and disability insurance, as well as life, renters, auto, and specialty vehicle insurance. Additionally, State Farm and Trupanion have a partnership to provide pet insurance. The corporation also provides credit cards, a wide range of investments, house and auto loans, checking and savings accounts, and other financial services. Its headquarters are in Bloomington, Illinois.
State Farm encourages those interested in policies to work with one of its local agents rather than offering online rates and applications for its policies. This can be a drawback for people who want to request a price or submit an application from the comfort of their homes. However, State Farm does have more than 19,000 agents dispersed over the nation, so there might be one nearby.
State Farm has a strong selection of life insurance plans with a variety of coverage options. Furthermore, with over 19,000 agents nationally, there is a considerable chance you will be able to find one close to you even though you cannot obtain rates or apply for coverage online. However, some older applicants could discover that the policies to which they have access are more constrained.
Pros:
- The term, whole, and universal policies available
- Term policies can be converted to permanent policies
- More than 19,000 agents nationwide
Cons:
- Some policies exclude applicants who are older than 65
- All policies must be purchased through a State Farm agent
Founded: 1922
Revenue: US$79.395 billion (2019)
Website: https://www.statefarm.com/
U.S. News Rating: 4.1/5.0
