Financial relief in a time of loss

$10,000 Whole Life insurance can help families deal with grief, rather than worry about burial expenses. This State Farm policy pays a fixed $10,000 death benefit directly to your beneficiary, who may or may not use it to help pay final expenses.

• Premiums remain level and may be payable beyond age 100.
• The death benefit is guaranteed as long as premiums are paid as required.
• You can choose between monthly or annual premium payments.
• The cash value of the policy accumulates tax-deferred.
• Your beneficiary chooses whether or not to use the death benefit for burial expenses.
• Your policy may earn dividends (there's no guarantee). If it does, those dividends can accumulate while earning interest, purchase paid-up additions, be used to reduce a premium that's due, or be paid in cash – it's up to you.

Note: This policy could be considered a Modified Endowment Contract at certain issue ages, and as such, any distributions (e.g., loans, dividends paid in cash or accumulated, or a policy assignment) will be subject to current income tax to the extent there is taxable gain in the policy. In addition, a tax penalty equal to 10% of the taxable amount will be applied to funds distributed prior to the owner's age 59½. In order to defer taxation, the paid-up additions dividend option should be chosen.

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Why you should consider $10,000 Whole Life insurance

According to the National Funeral Directors Association, the median cost of a funeral, burial services, and a vault is $9,135, while the median cost for cremation is $5,150. (Source: NFDA News Release, December 19, 2019)

With $10,000 Whole Life in NY, your guaranteed death benefit of $10,000 will be paid to your beneficiary, who may or may not choose to apply it towards these costs (applying the benefit to your funeral, burial, or related expenses isn't required).

When you choose State Farm for life insurance, your policy is backed by our financial strength. State Farm Life Insurance Company and State Farm Life and Accident Assurance Company have consistently earned top financial strength and performance ratings from the major rating agencies. These agencies assign ratings to help consumers evaluate an insurer's 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.