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Life Insurance > Whole Life


Whole Life Insurance: Permanent Life coverage that is provided for the insured's lifetime. Premiums are usually level, and guaranteed for the life of the policy. Whole Life policies build cash value that the policy owner may borrow during the insured's lifetime, at a reasonable rate of interest. If there is an outstanding loan at the time of the insured's death, the death benefit is reduced by the loan amount.

How it Works

Whole Life insurance offers level premiums and life insurance protection for as long as you live, provided that premiums are paid as required to keep the policy in force. State Farm offers whole life policies that can be paid with a single premium, premiums payable to 100, or somewhere in between. Whole life policies also provide for the accumulation of cash value on a tax-deferred basis which can be used when you need it, to help with life’s opportunities. Policy loans do accrue interest, and any outstanding policy loans and interest will reduce the death benefit and cash value.

Typical Uses:

  • Provides for a family’s loss of income, mortgage costs, and educational needs

  • Access to cash value for life’s opportunities

  • Leaving a legacy for the next generation



Lifetime protection for a lifetime of needs and opportunities. If you want the security of traditional whole Life insurance -- and the flexibility to add special one-year term and single premium riders and other options. It also has an Excess Credits feature that can mean added insurance benefits or cash back.

  • Level premiums to age 100

  • Tax-deferred growth of cash value

  • Death benefits generally pass on income tax-free to your beneficiaries.

  • Cash values can be accessed during the insured's lifetime.

  • Eligible to earn dividends, however, dividends are not guaranteed.


Whole Life can be great solution for:

  • Young adults just beginning an insurance program

  • Families needing protection while saving for the future

  • Professionals who require a lot of short-term insurance coverage with the optional One Year Term Rider

Whole Life is a nonparticipating policy that features level premiums guaranteed over the life of the policy, a level death benefit (for the base policy) and guaranteed cash values.

Excess Credits:

Excess Credits are based on future expectations of mortality, investments and expenses, and may be paid throughout the life of the policy. They may be taken in cash, used to purchase Paid-Up Additions or applied to pay future premiums. These credits are not guaranteed and the Company reserves the right to pay lesser amounts on substandard policies and policies with outstanding loans.

Riders Available:

One-Year Term Rider(only available at issue), Single Premium Paid-up Rider (only available at issue), Waiver of Premium, Accelerated Benefit Rider-Terminal Illness, Accidental Death Benefit, Children's Term Insurance Rider, Payor Death and Disability (for juvenile policies), Additional Insured Rider. Guaranteed Insurability Benefit is available on juvenile policies only (issue ages 0-15.)

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