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2/5
Overall Score

Choice Mutual’s ratings are determined by a review formula that weights the following four factors to determine a score between 0 and 5:

Factor Score Value
Price of Coverage
40%
No-Waiting-Period CoverageNo Waiting Period
20%
Financial Strength
20%
NAIC Complaint Index
20%
Overall Maximum
100%

Our ratings are tested with scoring model 1.1, a review formula that ensures consistency and accuracy in our assessments.

Rating methodology
Score Breakdown
Price of Coverage
Price of Coverage
40% of overall score

Using this quote calculator, we compare the price of the insurer’s coverage to competitors with equivalent products. The score they receive is based on how close their price is to those three least expensive providers:

  • 5
    0-5% more expensive
  • 4
    6-10% more expensive
  • 3
    11-20% more expensive
  • 2
    21-30% more expensive
  • 1
    ≥ 40% more expensive
Price audit
1.0
No-Waiting-Period CoverageNo Waiting Period
No-Waiting-Period Coverage
20% of overall score

This scoring factor assesses whether an insurer offers coverage with no waiting period and, if so, how difficult it is to qualify for it. If an insurer does not provide coverage with no waiting period, it gets an automatic 1. A score from 2 to 5 indicates that immediate coverage is possible, and the higher the rating, the easier it is for the average applicant to qualify for it.

  • 5
    Most applicants qualify
  • 4
    Fairly easy qualification
  • 3
    Somewhat difficult qualification
  • 2
    Very difficult qualification
  • 1
    No-waiting-period coverage unavailableNo-waiting-period unavailable
1.0
Financial Strength
Financial Strength
20% of overall score

Our financial strength scores are based on A.M. Best’s Financial Strength Ratings (FSR), which measure an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. The scores they receive are based on the following scale:

  • 5
    Superior (A+ or A++)
  • 4
    Excellent (A- to A)
  • 3
    Fair/Good (B- to B++)
  • 2
    Weak/Marginal (C- to C++)
  • 1
    Poor (D or Not Rated)
5.0
NAIC Complaint IndexNAIC Complaints
NAIC Complaint Index
20% of overall score

The NAIC (National Association of Insurance Commissioners) complaint index measures how frequently an insurer obtains consumer complaints relative to a median score across all insurers. Our scoring model is based on an insurer’s NAIC complaint index for the most recently available year and for ‘Individual Life’ products:

  • 5
    0.0 - 1.0 (avg or below avg complaints)
  • 4
    1.01 - 1.5 (slightly above avg complaints)
  • 3
    1.51 - 2.0 (up to 2x avg complaints)
  • 2
    2.01 - 3.0 (up to 3x avg complaints)
  • 1
    ≥ 3.01 (more than 3x avg complaints)
5.0
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Pros

  • You can’t be declined due to your health history.
  • Trusted brand name and best-in-class financial ratings.
  • Fixed-rate and coverage lasts forever.

Cons

A.M. Best
A++
Superior
Moody's
NR
Not Rated
S&P Global
AA
Stable

AM Best’s Financial Strength Rating (FSR) is an independent opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. The scores range from A++ to D-.

Moody’s Investors Service rates the creditworthiness of companies. The Moody’s Rating Scale has 21 possible scores ranging from “Aaa” (highest mark) down to “C” (lowest mark).

S&P Global Inc. issues credit ratings on a scale from “AAA” (highest rating) to “D” (lowest rating).

Customer Review Ratings
BBB
1.22/5
1444 reviews
Trustpilot
1.6/5
704 reviews
Google
4.0/5
1022 reviews
Yelp
1.2/5
234 reviews
Consumer Protection Organization Scores
NAIC Complaint Index
.36
BBB Score & Accreditation
C-
Not Accredited

The Complaint Index compares a company’s performance to other companies in the market. The National Complaint Index is always 1.00. That means a company with a complaint index of 2.00 is twice as high as expected in the market. Reported scores are for the most recently available year and for “Individual Life” products.

The BBB rating is based on information BBB is able to obtain about the business, including complaints received from the public. BBB seeks and uses information directly from businesses and from public data sources. BBB assigns ratings from A+ (highest) to F (lowest). If a business has been accredited by the BBB, it means BBB has determined that the business meets accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints.

Ratings and scores valid as of 10/31/2024.
Policy Type
Whole Life
New Applicant Age Range
45-80
Death Benefit Options
$10,000-$15,000 (only $10,000 in NY)
States Where Available
All
Builds Cash Value
Yes
Has Health Questions
No
2-Year Waiting Period
Yes
Medical Exam Required
No
Age When Policy Expires
Never
Prices Increase
Never

 

How Does State Farm Final Expense Insurance Work?

State Farm’s final expense insurance is a guaranteed issue whole life policy.

You don’t have to complete a medical exam or answer health questions. However, they will only refund 110% of your premiums if you die during the first two years.

Don't Forget
State Farm does not offer final expense insurance with no waiting period.

Because it’s a whole life policy, it will last forever, and the premiums will never increase and will build cash value.

Assuming you live for more than two years, State Farm will pay out the death benefit directly to your beneficiaries through a tax-free cash payment.

Your loved ones can spend on funeral costs, medical bills, debts, or other end-of-life expenses. If your family has leftover money, they get to keep it.

 

How Much Does State Farm Final Expense Life Insurance Cost?

State Farm guaranteed issue final expense costs $29-$261 monthly for a $10,000-$15,000 death benefit. The exact cost depends on your age, state, and the amount of coverage you want. Below is a table with some sample prices.

Age & Gender$10,000$15,000
Female age 45$29$41
Male age 45$34$48
Female age 50$35$49
Male age 50$41$59
Female age 55$42$61
Male age 55$51$74
Female age 60$51$74
Male age 60$63$92
Female age 65$65$94
Male age 65$81$118
Female age 70$84$123
Male age 70$104$152
Female age 75$113$166
Male age 75$136$201
Female age 80$153$227
Male age 80$176$261
Source for monthly prices: Choice Mutual quote calculator. Rates are calculated at a non-tobacco rating, rounded to the nearest dollar, and are valid as of 08/01/2024.

 

Should You Buy State Farm Burial Insurance?

While State Farm is a trustworthy company, its final expense insurance should not be the go-to option for most seniors.

For starters, despite prior health issues, most people can qualify for final expense insurance with no waiting period (which State Farm does not offer).

If you want or need a guaranteed acceptance policy, State Farm is much more expensive than many other burial insurance providers. For example, AAA, Mutual of Omaha, and USAA all offer the same exact policy at a much lower cost.

Anthony Martin
Anthony Martin
Choice Mutual CEO
    • Author
    • Nationally licensed life insurance agent with over 15 years of experience
    • Personal annual production that puts him in the top .001% out of all life insurance agents in the nation.

    Anthony Martin is a nationally licensed insurance expert with over 15 years of experience and has personally served over 10,000 clients with their life insurance needs. He frequently authors entrepreneurial and life insurance content for Forbes, Inc.com, Newsweek, Kiplinger, and Entreprenuer.com. Anthony has been consulted as an expert life insurance source for dozens of high-profile websites such as Forbes, Bankrate, Reuters, Fox Business, CNBC, Investopedia, Insurance.com, Yahoo Finance, and many more.

    Jeff Root
    Jeff Root
    Life Insurance Expert
    • Editor
    • Nationally licensed life insurance agent with over 19 years of experience
    • Best selling Amazon author.

    Jeff Root is a nationally licensed life insurance expert with over 19 years of experience. He has personally helped over 3000 clients with their life insurance needs. Jeff is a best-selling Amazon author and the managing partner of a highly successful insurance brokerage that manages over 2,500 licensed insurance agents across the USA. He has been a featured life insurance source for prestigious websites such as Forbes, Bloomberg, MarketWatch, Nerdwallet, and many more.

    David Duford
    David Duford
    Life Insurance Expert
    • Editor
    • Nationally licensed life insurance agent with over 10 years of experience
    • Best selling Amazon author of three insurance sales books.

    David Duford is a nationally licensed insurance expert with over 10 years of experience. He has personally helped more than 1500 clients buy life insurance. David has been featured as an expert source for highly authoritative publications such as A.M. Best and Insurancenewsnet. He also runs one of the largest Youtube channels to help aspiring insurance agents serve their clients better.

    Jeff Root
    Jeff Root
    Life Insurance Expert
    • Editor
    • Nationally licensed life insurance agent with over 19 years of experience
    • Best selling Amazon author.

    Jeff Root is a nationally licensed life insurance expert with over 19 years of experience. He has personally helped over 3000 clients with their life insurance needs. Jeff is a best-selling Amazon author and the managing partner of a highly successful insurance brokerage that manages over 2,500 licensed insurance agents across the USA. He has been a featured life insurance source for prestigious websites such as Forbes, Bloomberg, MarketWatch, Nerdwallet, and many more.

    David Duford
    David Duford
    Life Insurance Expert
    • Editor
    • Nationally licensed life insurance agent with over 10 years of experience
    • Best selling Amazon author of three insurance sales books.

    David Duford is a nationally licensed insurance expert with over 10 years of experience. He has personally helped more than 1500 clients buy life insurance. David has been featured as an expert source for highly authoritative publications such as A.M. Best and Insurancenewsnet. He also runs one of the largest Youtube channels to help aspiring insurance agents serve their clients better.

    Choice Mutual often cites third-party websites to provide context and verification for specific claims made in our work. We only link to authoritative websites that provide accurate information. You can learn more about our editorial standards, which guide our mission of delivering factual and impartial content.

    1. State Farm final expense insurance. https://www.statefarm.com/insurance/life/whole-life/guaranteed-issue-life-insurance
    2. A.M. Best. https://news.ambest.com/PR/PressContent.aspx?refnum=31049&altsrc=9
    3. S&P Global. https://disclosure.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3205015
    4. BBB. https://www.bbb.org/us/il/bloomington/profile/insurance-companies/state-farm-insurance-company-0724-6000391
    5. Trustpilot. https://www.trustpilot.com/review/www.statefarm.com
    6. Google. https://www.google.com/search?q=State+Farm+Insurance%3A+Corporate+Headquarters&sca_esv=f583aec8b3671997&sca_upv=1&ei=nK2qZqGfAcGBm9cP-5WQ0A4&ved=0ahUKEwih3ce8ndKHAxXBwOYEHfsKBOoQ4dUDCA8&uact=5&oq=State+Farm+Insurance%3A+Corporate+Headquarters&gs_lp=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&sclient=gws-wiz-serp#lrd=0x880b7010bdb79b1d:0x94213f20eb8e6cda,1,,,,
    7. Yelp. https://www.yelp.com/biz/state-farm-corporate-office-bloomington
    8. Facebook. https://www.facebook.com/statefarm/reviews_given
    9. NAIC Complaint Index. https://content.naic.org/cis_refined_results.htm?TABLEAU=CIS_COMPLAINTS&COCODE=69108&REALM=PROD&COCODE=69108&REALM=PROD
    10. BBB Score & Accreditation. https://www.bbb.org/us/il/bloomington/profile/insurance-companies/state-farm-insurance-company-0724-6000391
    11. Individual Life Insurance Study. https://www.jdpower.com/business/press-releases/2023-us-individual-life-insurance-annuity-studies
    Article Published
    09/08/2017
    Article History Added
    04/25/2025
    History feature implemented