Everything You Need To Know About State Farm Burial Insurance

Written on September 8, 2017 by Choice Mutual

State Farm Burial Insurance
Disclaimer: We are not affiliated in any way with State Farm. In fact, we are a direct competitor of theirs. This review is merely our professional analysis of their final expense insurance along with our opinions.

If you’d like to run some instant burial insurance quotes, just fill out the quote box on this page. You will instantly see real prices from many highly rated insurers.

Are you looking for the inside scoop on State Farm burial insurance?

Would you like to know…

  • All Their prices? ✔
  • How their prices stack up against their competitors? ✔
  • The details of their policy? ✔
  • A truly unbiased opinion about when their policy is good and when it’s bad? ✔

Well you will get all that information and then some in this article. We’ll even show you some simple tips to help you find the best burial policy.

Here’s a little sneak preview about what you will extract from this article…

State Farm final expense insurance is priced on the high side, and they have strict underwriting. Even if you were willing to pay their high rates, you probably won’t qualify because they will likely decline you.

You could go looking for a more complete State Farm final expense review on the web, but you won’t find one.😎

State Farm Burial Insurance

Article Quick Navigation Links

  1. Discover The Details Of Burial Insurance State Farm
  2. Breaking Down Their Underwriting [The Health Issues They Won’t Insure]
  3. See All The Health Issues They Decline, But Our Companies Accept
  4. When Their Final Expense Is Good And Bad
  5. See State Farm’s Prices & How They Compare To Other Companies
  6. State Farm’s Company Background & Financials

 

The Details Of How State Farm Final Expense Works

State Farm burial insurance is a whole life insurance policy designed to alleviate the cost of funeral and burial expenses. Their final expense insurance only comes in the amount of $10,000.

  • Monthly payments will never increase
  • Policy won’t expire at any age
  • Coverage will never decrease
  • No waiting period (if you qualify)

They offer their final expense in all states except Massachusetts and Rhode Island.

Applicants who are 50-80 are eligible to apply. To be clear, once your policy is issued, it will not expire at age 80. They just stop accepting new applicants once they pass age 80. Once your policy is issued, it will last forever.

State Farm Burial Insurance

State Farm will subject tobacco users to higher premiums. They define a tobacco user as any consumption of tobacco or nicotine in any form within the last 12 months.

There is no medical exam to qualify. The application consists of answering some health questions along with consenting to a prescription history and MIB check. Essentially, State Farm will analyze your medication history, and MIB file as away to validate your health status.

That’s literally all there is to know regarding the details of their burial insurance. Because it’s a whole life policy, it’s very straightforward and simple. You don’t need to be concerned about some hidden fine print that comes back to haunt you down the line.

Here’s the truth about their final expense…

A final expense policy from State Farm functions exactly like a final expense policy from any other company.

Sure there are minor differences such as state availability, rider choices, face amount options etc…

But those are relatively meaningless differences.

The only meaningful differentiation between State Farm and all the other burial insurance companies is what they charge each month for the insurance (which we discuss further down in this article).

 

State Farm Burial Insurance Underwriting

With State Farm, they either accept or decline you. There is no grey area or middle ground. You either have the health issues they ask about on their application or you don’t.

In addition to asking you the health questions, they will also run a prescription history check. Basically, they will look for any prescription medications that indicate treatment for any of the conditions asked about on their application.

If they find you have filled any medications consistent with the issues mentioned on the application, they will decline you.

State Farm Burial Insurance

Below are all the health issues they ask about. A yes to any of these questions will result in a decline.

  • Have you ever been rated or declined by State Farm in the past for any life insurance product?
  • Are you currently:
    • Bedridden at home
    • Receiving home health care
    • In a hospital or nursing facility
    • Require assistance with your daily activities of daily living (bathing, dressing, eating, toileting, taking medication)
    • Oxygen to assist with breathing
    • Confined to a wheelchair
  • Have you ever had or been treated for the following:
    • Lou Gehrig’s disease (ALS)
    • Alzheimer’s or dementia
    • Cirrhosis
    • Hepatitis A, B, or C
    • Parkinson’s disease
    • Huntington’s disease
    • Heart defibrillator
    • Multiple sclerosis
    • Muscular dystrophy
    • Dialysis
    • Organ or tissue transplant
    • Amputation due to disease
    • AIDS or HIV
  • Within the last 3 years have you had or been treated for the following:
    • Any form of cancer or tumor
    • COPD, chronic bronchitis, or emphysema
    • Any form of diabetes
    • Mental or nervous disorder (bi polar, schizophrenia, anxiety, depression)
    • Issues of the heart or circulatory system (heart attack, chest pains, congestive heart failure, irregular heartbeat, blood thinner usage, blood clots, aneurysm)
    • Stroke or mini stroke
    • A heart or circulatory procedure (stent placement, balloon procedure, angioplasty, etc)
    • Treatment for alcohol or drug abuse
    • Kidney disease

 

All The Health Issues State Farm Funeral Insurance Won’t Accept, But Our Companies Will

To say that State Farm’s underwriting is not favorable is an understatement.

The truth is, State Farm has very strict underwriting relative to other final expense companies. They will decline most applicants.

State Farm Burial Insurance

If any of these health issues apply to you, State Farm will decline you. We have companies that will accept these conditions. 😎

  • Home health care
  • Assistance with daily activates of living (bathing, dressing, eating, toileting, taking medication)
  • Confined to a wheelchair for a non-chronic illness or disease
  • Liver cirrhosis
  • Mini stroke (TIA attack)
  • Hepatitis A, B, or C
  • COPD, emphysema, or chronic bronchitis
  • Parkinson’s disease
  • Heart defibrillator
  • Kidney disease
  • Irregular heart beat (Afib)
  • Multiple sclerosis
  • Tumor (non-cancerous)
  • Amputations due to disease
  • Cancer over 2 years ago (they go back 3 years)
  • Heart attack over 1 year (they go back 3 years)
  • Stroke over 1 year (they go back 3 years)
  • Heart or circulatory surgeries over 1 year (they go back 3 years)
  • All forms of diabetes no matter how severe
  • Mental or nervous disorders (bi polar disorder, schizophrenia, anxiety, depression)

 

When Final Expense State Farm Is Good And When It’s Bad

State Farm Burial Insurance

No matter what, no life insurance company can be the best fit for every single person. It’s just not possible.

Now

You may hear a representative of any given company claim their life insurance carrier is the best for everyone, but in all honestly that is just company speak.

Any given life insurance company will excel at insuring certain groups of people. With these groups, they stand out in the market and offer superior coverage at a rate that generally can’t be beat.

For other groups, they might remain competitive, but they are beaten by other insurers.

So the key question to answer about burial life insurance is this:

Which company is best for me?

The criteria we use to define when a policy is good is straightforward. We are looking for one or both of the following attributes:

  • Unique value
  • Superior pricing relative to what their competitors charge for the same exact thing

First, State Farm funeral insurance offers no unique value. Their coverage is no different than any other company’s coverage.

$10,000 in coverage with them is identical to $10,000 in coverage with any other burial insurance company except for the price.

Speaking of prices…

We ran the numbers, and compared State Farm’s rates to the prices of over 20 other final expense companies.

 

When State Farm Final Expense Insurance Is A Superior Option

Below you will see the very few situations where State Farm final expense insurance wins the price battle.State Farm Burial Insurance

  • 78 year old male tobacco user
  • 79 year old male tobacco user
  • 80 year old male tobacco user

Please keep in mind that those above circumstances assume that you medically qualify for their policy (which may not happen due to how strict their underwriting is 😬).

If you happen to not be a person in one of those three categories, State Farm unequivocally cannot offer you your best policy.

So there you have it.

The only time anyone in the world should ever buy final expense coverage from State Farm is if they are a man age 78-80 who smokes or chews tobacco.

 

When State Farm Is Not A Good Option

This one is really easy.

Here’s when you should not buy State Farm final expense…State Farm Burial Insurance

  • Females (yes all of them)
  • Men who don’t smoke or chew tobacco
  • You are man who does smoke or chew tobacco and you are not age 78, 79, or 80
  • Males & females who have any of the health issues listed here.
  • Anyone looking for coverage that is more or less than $10,000 (You can only buy $10K with them)
  • People over the age of 80

As you can see, 99% of the time funeral insurance State Farm is not in your best interest.

 

State Farm’s Burial Insurance Prices

You can run quotes on State Farm’s website. That’s how we got all these prices. 😉

We also took the liberty to show you prices from three other final expense companies we represent.

As you will undoubtedly see for yourself, their prices are high side kind of like companies like Lincoln Heritage, Colonial Penn Life Insurance Company, & AARP.

State Farm Burial Insurance

Female Non Tobacco

AGEState FarmMutual Of OmahaForesters FinancialTransamerica
50$27.71$24.67$26.05$25.30
51$28.97$25.45$27.07$25.90
52$30.33$25.88 $28.10$26.40
53$31.76$26.62$29.11$27.00
54$33.28$27.47$30.14$28.00
55$34.88$28.40$31.16$29.10
56$35.61$29.27 $32.01$30.00
57$37.19$30.06 $32.86$30.80
58$38.89$30.83$33.71$31.60
59$40.62$31.70 $34.56$32.50
60$42.40$32.87$35.41$33.60
61$44.23$34.51 $36.89$35.30
62$46.11$36.06$38.37$37.00
63$48.41$37.72$39.84$38.30
64$51.06$39.36 $41.32$39.90
65$53.92$41.01 $42.80$41.60
66$55.99$43.44$44.92$44.00
67$59.54$45.86 $47.05$46.50
68$63.30$48.29$49.17$49.00
69$67.46$50.81$51.29$51.40
70$72.22$53.24 $53.42$53.90
71$77.31$56.63 $57.75$57.40
72$82.93$60.12$62.08$60.90
73$89.11$63.93 $66.41$65.70
74$93.87$67.78$70.74$69.20
75$98.08$72.41 $75.08$72.80
76$105.78$78.25 $82.28$80.20
77$113.48$83.51 $89.48$87.10
78$121.18$88.44 $96.68$94.30
79$128.88$93.41 $103.88$99.20
80$136.60$98.43 $111.08$104.00

Male Non Tobacco

AGEState FarmAssurityAmerican AmicableMutual Of Omaha
50$31.50$31.18$31.29$31.43
51$33.17$32.16$32.23$32.89
52$34.89$33.15$33.74$33.85
53$36.81$34.16$35.46$35.31
54$38.78$35.23$36.73$36.66
55$40.97$36.37$38.67$38.32
56$42.11$37.55$39.81$39.57
57$44.12$38.75$41.54$40.72
58$46.29$40.02$43.05$41.86
59$48.63$41.44$44.62$43.10
60$51.17$43.08$45.77$44.67
61$53.94$44.93$47.93$46.96
62$56.93$46.98$50.24$49.24
63$60.13$49.19$52.67$51.53
64$63.58$51.52$55.25$53.71
65$67.28$53.96$57.71$56.00
66$69.90$56.43$60.62$59.54
67$74.25$58.95$63.66$63.07
68$78.62$61.63$66.09$66.61
69$83.42$64.57$70.51$70.15
70$88.87$67.87$72.18$73.68
71$94.67$71.28$75.86$78.78
72$101.06$74.71$79.74$83.77
73$108.08$78.58$84.14$88.87
74$113.54$83.31$88.66$93.86
75$118.36$89.31$94.42$98.95
76$123.39$96.60$101.64$105.61
77$128.74$104.88$108.24$112.80
78$134.38$114.16$115.15$120.04
79$140.56$124.43$125.02$127.36
80$147.25$135.69$135.19$134.74

Female Tobacco User

AGEState FarmMutual Of OmahaForesters FinancialTransamerica
50$33.15$29.16$32.00$30.70
51$34.57$30.30$32.97$31.40
52$36.18$31.12$33.94$32.10
53$37.92$32.20$34.92$32.70
54$39.72$33.61$35.89$34.20
55$41.60$35.09$36.86$35.90
56$43.00$36.45$38.53$37.40
57$45.33$37.91$40.20$38.80
58$47.79$39.27$41.86$40.20
59$50.41$40.82$43.52$41.80
60$53.25$42.76$45.19$43.70
61$56.35$45.38$47.29$46.40
62$59.70$47.90 $49.41$49.00
63$63.28$50.52$51.52$51.20
64 67.14$53.14$53.63$53.80
65$71.36$55.76$55.75$56.50
66$74.11$59.35$59.18$60.10
67$77.90$62.93$62.61$63.70
68$82.94$66.53$66.04$67.30
69$87.23$70.11$69.47$71.00
70$90.79$73.70$72.91$74.60
71$97.41$78.36$78.86$79.30
72$104.04$82.92$84.81$84.00
73$110.67$88.01$90.77$90.40
74$117.30$93.16$96.73$95.20
75$123.95$99.53$102.69$100.00
76$129.42$106.87$111.50$109.60
77$135.16$113.64$120.31$118.60
78$141.34$119.86$129.12$127.90
79$147.97$126.23$137.93$134.00
80$155.40$132.65$146.74$140.20

Male Tobacco User 

AGEState FarmAssurityAmerican AmicableMutual Of Omaha
50$42.88$34.40$40.59$36.89
51$44.86$35.66$42.27$38.88
52$46.97$36.93$44.08$40.50
53$49.22$38.29$46.13$42.59
54$51.08$39.77$48.06$44.77
55$52.94$41.41$50.01$47.27
56$54.80$43.18$51.97$49.45
57$56.66$45.05$53.94$51.53
58$58.51$47.07$56.40$53.61
59$62.37$49.34$58.39$56.11
60$66.39$51.91$60.57$59.02
61$70.57$54.74 $64.28$62.97
62$75.05$57.79$67.00$67.03
63$80.05$61.12$69.53$70.98
64$85.50$64.82$72.73$75.04
65$91.35$68.94$76.06$78.99
66$95.25$73.43$80.53$84.50
67$100.43$78.23$84.68$90.11
68$106.45$83.45$89.66$95.63
69$111.55$89.18$94.65$101.14
70$115.80$95.52$98.32$106.76
71$120.69$102.10$103.98$114.04
72$125.58$108.86$109.94$121.42
73$130.47$116.34$116.69$128.80
74$135.36$125.10$123.65$136.08
75$140.23$135.67$132.49$143.47
76$145.72$147.94$141.32$152.72
77$151.44$161.54$150.57$162.75
78$157.52$176.65$161.81$172.97
79$163.97$193.46$171.24$183.17
80$171.08$212.14$181.75$193.47

 

State Farm’s Company Background & Financials

Starting back in 1922, they have long established themselves as a reputable insurance carrier for all sorts of lines of insurance.

They are a Mutual insurance company and a large one at that. They are currently ranked as #33 on the Fortune 500 list of the largest corporations. They presently sell over 100 different products, and process nearly 39,000 claims per day.

All credible State Farm final expense reviews have to mention that State Farm Mutual currently has an A++ rating by A.M. Best which is the highest rating possible.

Although State Farm cannot offer the majority of applicant’s superior final expense coverage, this does not diminish their stellar reputation. We may not recommend them for life insurance to cover burial expenses, but other lines of insurance they are very competitive.

About ChoiceMutual.com
About ChoiceMutual.com

Choice Mutual works with all the top burial insurance companies throughout the nation to secure you the best price possible.

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