How about State Farm Insurance Company? StateFarm Insurance Company Credit Rating and Life Insurance Product Introduction

State Farm Insurance Company's Financial Rating

State FarmThe financial rating of insurance companies is very high, and the three major international credit rating agencies have given extremely high ratings.

State FarmAt AMBest, it received the highest rating of "A++", Moody's gave it "Aa1" and Standard & Poor's gave it "AA".in caseCompare the ratings of different insurance companies, We can understandState Farm With excellent financial strength, he has joined the ranks of the top insurance companies in the United States.

The following is aboutState FarmList of ratings:

• AM Best – A ++
• Moody's – Aa1
• Standard & Poor's – AA

According to the "2019 Annual Report", the company's total assets are$1784 billion.

在2019年里，State Farm人壽保險子公司這一部分的保費收入達到$55億美元，像投保人累計支付分紅$5.7億美元。2019年的State Farm人壽保險純收入是$6.73億美元。

State Farm Life Insurance Product Line at a Glance

State Farm's life product line

• Term Life Insurance Term
• Whole Life Insurance
• Universal Life
• Variable Universal Life

State Farm has issued securities investment universal life insurance (VUL), but announced the termination of this business in September 2008.

Term Life Insurance Term

State Farm The term life insurance provides 3 product options, namely

• 10-year Term
• 20-year Term
• 30-year Term

This type of insurance seeks to provide customers with short-term or specific length of time protection, such as family financial protection during the housing loan period. The insured chooses a different length of time to receive guaranteed death compensation.

After the policy expires, if the insured accepts the option of increasing the premium each year, he can renew the policy annually to 95 years of age. The 20-year and 30-year term life insurance offers the option of ROP (refund of premiums due).

Whole Life Savings Participating Whole Life

If the insured wants to seek a whole life insurance with "cash value", StateFarm providesSavings and Dividend Life Insurance(Whole Life).

The product features of State Farm Whole Life are:

• Pay in advance：Provide 10 years, 15 years, 20 years of policy payment options, no need to pay premiums for life.
• One-off payment: The premium can be deposited in one lump sum, and the premium will not be paid thereafter, and the policy is valid for life.

Universal Life

State Farm's other whole life insurance product line is the universal insurance series, which includes the following three types of insurance:

• Standard Universal Insurance: This is a lifetime life insurance that provides cash value function, and policyholders can flexibly adjust the premium or insured amount while holding it.
• Two-person joint insurance universal insurance: An insurance policy covers two people at the same time, and the compensation is paid when the second person finally passes away.Mainly used in estate planning and mutual insurance in business.
• Two persons (couples) with the same insurance type universal insurance: An insurance policy covers two people at the same time, and any one of them will be paid upon death.This type of insurance policy provides an economic solution for a family. The claim payment can help another person pay for the mortgage, the child's future education expenses, and daily expenses.

State Farm Insurance Company Honor

• 2020年5月18日，州立農業保險公司位列2020年“財富”美國500強營收排行榜第36位。
• On August 2020, 8, State Farm Insurance (State Farm Insurance) ranked 10th in the 2020 Fortune 500 list.

Final Evaluation of State Farm Life Insurance

State Farm (State Agricultural Insurance)With a long history, it is the largest "auto insurance" and "home insurance" underwriting company in the United States.

State Farm The insurance business covers a wide range, and banking and credit businesses have also been developed.It has many franchise stores, and each broker or store is like a "one-stop insurance and financial services" center, which is the biggest advantage of State Farm.

But the advantage of "large and broad" business has also become a disadvantage of State Farm.In terms of life insurance business and types of insurance only, State Farm Life Insurance's types of insurance are relatively single, and the products of each type of insurance belong to the first generation of "basic protection" products with relatively single functions.

Nevertheless, StateFarm's life insurance is sufficient to meet the daily needs of most American families.

In general, State Farm is an excellent comprehensive insurance group as a whole, fulfilling its promise of "becoming a good neighbor of policyholders" and is worthy of trust.