State Farm vs. Primerica Life Insurance in 2024 (Head-to-Head Review)
Compare State Farm and Primerica life insurance with rates starting at $76 and $74. State Farm offers term and whole-life plans with optional riders, while Primerica emphasizes term policies paired with financial literacy programs. State Farm vs. Primerica life insurance shows distinct benefits.
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Dani Best
Licensed Insurance Producer
Dani Best has been a licensed insurance producer for nearly 10 years. Dani began her insurance career in a sales role with State Farm in 2014. During her time in sales, she graduated with her Bachelors in Psychology from Capella University and is currently earning her Masters in Marriage and Family Therapy. Since 2014, Dani has held and maintains licenses in Life, Disability, Property, and Casualt...
Licensed Insurance Producer
UPDATED: Dec 21, 2024
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Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
UPDATED: Dec 21, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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17,760 reviewsCompany Facts
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A.M. Best Rating
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Pros & Cons
17,760 reviews
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0 reviewsComparing State Farm vs. Primerica life insurance shows different types of plans made to fit the needs and preferences of various customers.
State Farm gives term life and whole life insurance options, with extra choices like riders for accelerated death benefits. This offer makes it more flexible to meet long-term plans and goals.
State Farm vs. Primerica Life Insurance Rating
| Rating Criteria |  |  |
|---|---|---|
| Overall Score | 4.3 | 3.6 |
| Business Reviews | 5.0 | 4.0 |
| Claim Processing | 4.3 | 3.0 |
| Company Reputation | 4.5 | 3.5 |
| Coverage Availability | 5.0 | 4.7 |
| Coverage Value | 4.2 | 3.5 |
| Customer Satisfaction | 4.1 | 2.5 |
| Digital Experience | 4.5 | 4.0 |
| Discounts Available | 5.0 | 3.8 |
| Insurance Cost | 3.9 | 3.5 |
| Plan Personalization | 4.5 | 3.5 |
| Policy Options | 3.8 | 3.5 |
| Savings Potential | 4.3 | 3.6 |
| State Farm Review | Primerica Review |
Primerica focuses on term life insurance along with programs for financial education to help their policyholders. Both Primerica and State Farm have notable qualities in how they provide service and handle claims.
Discover how State Farm vs. Primerica Life Insurance stacks up by entering your ZIP code.
- State Farm and Primerica start at $76 and $74 monthly rates
- State Farm offers term and whole-life plans with riders
- Primerica focuses on term coverage with financial education
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Exploring State Farm vs. Primerica Life Insurance Rates
This table shows the monthly rates for full coverage life insurance from State Farm and Primerica, divided by age and gender. It compares pricing in different groups of people, making it easy to see how costs are not the same for each group.
State Farm vs. Primerica Full Coverage Life Insurance Monthly Rates by Age & Gender
| Age & Gender | | |
|---|---|---|
| Age: 16 Female | $311 | $305 |
| Age: 16 Male | $349 | $330 |
| Age: 30 Female | $94 | $90 |
| Age: 30 Male | $103 | $95 |
| Age: 45 Female | $86 | $84 |
| Age: 45 Male | $86 | $84 |
| Age: 60 Female | $76 | $74 |
| Age: 60 Male | $76 | $74 |
State Farm mostly gives a bit higher prices than Primerica for all ages and both genders. For 16-year-old kids, boys have the highest costs at $349 with State Farm and $330 with Primerica. Girls of same age give $311 to State Farm and $305 to Primerica. At 30 years old, women see their rates drop a lot to $94 with State Farm and $90 with Primerica.
For men of the same age, rates go down too but stay at $103 for State Farm and $95 for Primerica. By the time they reach 45 years old, prices become more stable; both men and women pay around similar amounts – about $86 or even lower at around $84. At age 60, both companies provide their cheapest rates, with $76 from State Farm and $74 from Primerica for both men and women.
Read more: How does the insurance company determine my premium?
Understanding State Farm and Primerica Life Insurance
Life insurance is an essential financial tool, giving safety and money security for your family if you die. It is an agreement between you and the insurance company; you pay regular payments called premiums, and then the insurance company agrees to give a certain amount of money to people you choose (beneficiaries) when you pass away. Life insurance is critical, mainly if you have people who rely on your money.
It ensures they can keep living as they are used to, pay any debts left behind, and care for costs like funeral expenses and daily needs. Life insurance gives peace of mind that if something terrible happens to you, your loved ones will have money to help them go on with their lives. It can cover costs like paying off debts, funeral expenses, or daily living needs for your family.
The Importance of Life Insurance
Life insurance is very important because it gives financial safety and peace to your mind. It ensures that your loved ones have money support, stopping them from facing money problems after you are gone. Life insurance is useful because it can give money if you are not there.
It helps to pay bills like house loans, car payments, and credit cards that still need paying. Also, life insurance covers costs for funerals and burials. Another important thing is that it can help with your children’s education fees and other future needs they may have. If you have no life insurance, your family may have money problems. They might need to sell things they own or ask for help from the government.
Also, they may borrow too much money to pay bills. Life insurance helps them with money so they can stay okay even if you are not there anymore. We now know why life insurance is important. Let us learn about some main words you will see when looking at different choices for life insurance.
Key Terms in Life Insurance
Before starting to compare State Farm and Primerica, it is good to know some important words about life insurance:
- Premium: This is the amount you pay to the insurance company in exchange for coverage.
- Death Benefit: The amount of money that will be paid to your beneficiaries upon your death.
- Term Life Insurance: Type of insurance that gives protection for 10, 20, or 30 years.
- Whole Life Insurance: Coverage that lasts for your entire lifetime and includes a savings component.
- Underwriting: Process insurance companies use to assess your risk and determine your premiums.
Knowing these words will assist you in making wise choices about selecting the right life insurance for you and your loved ones.
Jeff Root Licensed Insurance Agent
Now that we talked about why life insurance is important and learned some key terms let us look at what makes State Farm’s and Primerica’s life insurance different from each other. Find out which types of life insurance align with your goals and priorities.
An Overview of State Farm Life Insurance
State Farm is a famous insurance company that provides different kinds of insurance, including life insurance. Let us look at State Farm’s history first. It started a long time ago, and it has grown big over the years. Uncover key highlights in our State Farm insurance review & ratings analysis.
History and Reputation of State Farm
State Farm is an insurance company that has been around for almost 100 years, giving coverage to people and families all over the United States. It was started in 1922 by George J. Mecherle, who used to be a farmer and also sold insurance. State Farm is well-known because it is financially strong and offers good customer service.
Through the years, State Farm became a considerable insurance company in the United States, serving millions of people with policies with them. The company promises to help policyholders by having good financial strength and making customers happy.
State Farm always gets ratings from famous agencies like A.M. Best and Standard & Poor’s. These high ratings show that State Farm is strong with money and can meet its promises to people with insurance policies.
Life Insurance Products Offered by State Farm
State Farm has many different life insurance options to fit the needs of various people and families. These include:
- Term Life Insurance: This insurance gives protection for a specific time, usually 10, 20, or 30 years. It is a good choice for people who need coverage only during a specific period.
- Whole Life Insurance: This insurance gives coverage for your whole life and has a part that saves money over time. It offers a death benefit to help after you pass away and savings you can use while you’re still alive.
- Universal Life Insurance: It is a type of life insurance that mixes life insurance protection and investing. This kind of insurance lets you change how much you pay for premiums and the death benefit amount, which can be very helpful.
State Farm’s life insurance policies can be made to match what you need, how much money you have, and your plans. They give many choices so that you get the proper coverage for keeping your family safe.
Claims Process and Customer Service at State Farm
State Farm is very proud of its excellent customer service. They have many agents nationwide who can help you with your insurance questions and guide you step by step through the process, giving you personal support just for you. Regarding the claims process, State Farm tries to make it smooth and easy for their customers. They have a special team that works on claims quickly and with professionalism.
People with insurance with State Farm can make claims online by calling their local State Farm agent. State Farm also gives extra advantages to people who have their life insurance. These can include getting discounts on car and house insurance, plus you can put riders on your life insurance for more protection.
Some examples are accelerated death benefit riders or disability income riders, which provide even more coverage options. With high financial ratings, excellent customer service, and wide-ranging coverage choices, State Farm is a dependable option for life insurance.
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An Overview of Primerica Life Insurance
Primerica is an established insurance company that provides a wide range of insurance policy products, including life insurance. Let’s look at the different aspects of Primerica. Dive into the Primerica insurance review & ratings to learn more.
History and Reputation of Primerica
Primerica has been running for more than forty years, giving insurance and financial help to people and families. The company started in 1977 and has become a well-known name in this business.
Primerica is very dedicated to teaching people about finances and helping families understand money matters, which makes them special. They work hard to inform their clients why life insurance and financial planning are important. This way, the policyholders can make smart choices about managing their money for the future.
Life Insurance Products Offered by Primerica
Primerica has many life insurance plans made to fit various needs and budgets. These are some of them:
- Term Life Insurance: This type of insurance protection provides security for a fixed time frame, maybe 10, 20, or 30 years.
- Permanent Life Insurance: Provides lifetime coverage policy with a savings component that grows over time.
- Indexed Universal Life Insurance: A type of life insurance that gives protection and also has investment choices linked to market indexes.
Primerica’s life insurance policies are customizable to fit your unique circumstances and financial goals. They aim to provide accessible and affordable coverage to individuals and families.
Customer Service and Claims Process at Primerica
Primerica is very dedicated to giving great customer service to people who have their policies. They have a group of skilled and well-trained workers ready to help you with your insurance needs and any questions about your policy.
Primerica has a special department that handles claims quickly and in a good manner when talking about claims. People who have policies can make their claims online or use the phone to do it. Customer service workers are there to help them step-by-step in creating a claim.
Comparing State Farm and Primerica Life Insurance
Comparison of Life Insurance Products
State Farm and Primerica offer many life insurance options, like term life and permanent life insurance. However, there are differences in what they offer, how flexible the plans are, and their cost. State Farm gives more life insurance choices, including universal life insurance. This lets people with a policy pick one that fits their big money plans and can help grow investment, too.
Laura Walker Former Licensed Agent
On the other hand, Primerica is a company that aims to provide easy and affordable life insurance. They have term life insurance plans with flexible coverage times and amounts, which can fit various budgets.
When comparing life insurance from State Farm and Primerica, it is a good idea to consider what you need, how much money you can spend, and your plans. Each company has its strong points in different things. The best choice depends on what works for your situation.
Comparison of Pricing
Price is essential when picking a life insurance policy because it decides how much money you need to pay every month for the coverage. State Farm and Primerica each have unique ways of deciding the prices of their life insurance products. State Farm usually gives reasonable rates, but they might need medical underwriting. This means they look at your health records and sometimes ask you to do a medical check-up.
In contrast to others, Primerica aims to provide reachable and budget-friendly insurance coverage. Usually, they do not require medical underwriting for their policies. This approach makes it simpler for people with existing health issues or who prefer not to take medical tests to get insured easily.
When considering prices between State Farm and Primerica, getting quotes from both companies is a good idea. Then, you can compare the costs based on your age, health condition, and what kind of coverage you want. By doing this way, you will see which company gives a better price for your needs.
Comparison of Customer Service
When talking about customer service, both State Farm and Primerica are known for good service and dedication to their customers. But they have some differences in how they do things and the resources they offer. State Farm’s big network of agents gives personal and local customer service. The agents are there to help you understand the insurance steps, answer your questions, and give support all the time.
Screenshot this post! If you are in a hurricane-impacted area, or have friends or loved ones who are, save this as a reference. State Farm customers can use any of the options below to start the claim process or follow up on a claim. https://t.co/RUi06doKId pic.twitter.com/HRpYn2GG8B
— State Farm (@StateFarm) October 9, 2024
Primerica also has special representatives who can help with questions about insurance. But, what makes them different is their focus on teaching people about finances. Primerica works hard to give policyholders the understanding they need to make smart choices about their financial health.
When you think about customer service, it is important to look at what you like and need. If meeting in person and having customized help are things that matter to you, State Farm’s network of agents might be better for you. If you value learning about finance and gaining financial independence, Primerica’s method might match well with what is important to you.
Comparison of Claims Process
State Farm and Primerica both try to make the claiming process smooth and easy for people who have their policies. State Farm’s way of handling claims includes options like filing a claim online, by phone, or with help from their local agents. They have a special department for managing claims quickly and professionally to ensure policyholders have an easy time.
Primerica also makes it easy to file claims, so people with policies can file them online or by phone. Their claims department quickly responds and works hard to handle claims fast. Explore the history of the largest insurance claims ever filed.
When looking at the claims process, it is important to think about things like how easy it is to file a claim, if help is available when you need it, and how fast companies respond. State Farm and Primerica both try hard to give very good service for claims so people with policies get what they need during tough times.
Evaluating Ratings: State Farm vs. Primerica Insurance
This section looks at ratings and consumer feedback about State Farm and Primerica from many different points of view. It gives ideas about how happy customers are, what kind of business ways they use, and how strong they are in money matters based on reviews from independent sources.
Insurance Business Ratings & Consumer Reviews State Farm vs. Primerica
| Agency | | |
|---|---|---|
 | Score: 877 / 1,000 Above Avg. Satisfaction | Score: 810 / 1,000 Average Satisfaction |
 | Score: C- Below Avg. Business Practices | Score: B Average Business Practices |
 | Score: 75/100 Positive Customer Feedback | Score: 70/100 Mixed Customer Feedback |
 | Score: 0.78 More Complaints Than Avg. | Score: 0.95 Fewer Complaints Than Avg. |
 | Score: B Fair Financial Strength | Score: B+ Good Financial Strength |
State Farm does better than Primerica in J.D. Power ratings, scoring 877 out of 1,000, but Primerica only gets 810. This shows people are happy with State Farm’s service. However, both companies show average business behaviors. State Farm gets a “B” grade, and Primerica gets a bit better with a “B+” grade.
Our 4th annual Can-A-Thon with @SalvationArmyA was a huge success! This year we provided 88,000 meals to families in need. Thank you to all our volunteers and donors who helped make this possible! pic.twitter.com/qev8LlDjZV
— Primerica (@Primerica) December 19, 2024
Consumer Reports gives State Farm a slightly better score of 75 out of 100, while Primerica gets 70 out of 100; this shows State Farm has a slightly stronger customer opinion. Though Primerica has more complaints than average, its complaint ratio is actually lower at 0.95 compared to State Farm’s higher ratio, which is at 0.78. A.M. Best gives Primerica a higher score of “B+” for financial strength, while State Farm has a “B.”
This table highlights the market share distribution among State Farm, Primerica, and other providers in the life insurance industry. It provides a clear comparison of their positions in a competitive landscape. Check out our guide to the best insurance companies for reliable protection.
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State Farm Pros and Cons
Pros
- Various Coverage Choices: State Farm has many types of insurance policies, including term, whole, and universal life insurance. This gives flexibility for different needs. Understand the benefits of choosing specific types of term life insurance.
- Powerful Financial Reputation: State Farm has been around for nearly hundred years, showing strong financial stability. It gets high ratings from agencies such as A.M. Best and Standard & Poor’s.
- Complete Customer Service: State Farm has big network of agents that make sure customers get personal and local help. They are dedicated to helping clients understand insurance process step by step.
Cons
- Possibly Higher Premiums: Even if competitive, State Farm’s premiums could be higher when medical underwriting is needed.
- Limited Online Tools: Fewer digital options for policy management than some competitors.
Primerica Pros and Cons
Pros
- Affordability and Accessibility: Primerica gives attention to coverage that is easy to get and not too expensive, often without needing a lot of medical checks. This makes it appealing for many different people.
- Financial Strength: Primerica is special because it focuses on teaching people about finances, helping them make smart choices for their money in the future.
- Easy Claims Process: Primerica makes sure it is simple for policyholders to make claims. People can file their claims online or by phone quickly without much hassle. Learn about your insurance agent’s role in the claims process and how they assist.
Cons
- Limited Policy Options: Primerica focuses mainly on term life insurance, so choices are fewer for people who want more detailed coverage.
- Variable Customer Service: Customer service can be different because it depends on the individual representative, which might lead to not always having the same experience.
Secure Your Future With State Farm and Primerica Life Insurance
State Farm and Primerica are old and well-known insurance companies that provide life insurance. Each company has different strong points and what they focus on. When picking between the two, it is very important to think about what you need, how much money you can spend, and your goals for the future.
State Farm provides many life insurance options, including term and permanent policies. They also offer unique customer service through their agent network. State Farm has a good name and offers flexible coverage choices for people who need them.
Ty Stewart Licensed Insurance Agent
Primerica gives easy-to-get and budget-friendly life insurance, focusing on teaching people about finances and helping individuals and families feel more empowered. Their term life insurance and permanent life insurance options can be changed to fit different needs, and they offer a simple way to make claims.
To determine which insurance company is good for you, look at quotes and rates from State Farm, Primerica, and others. Use our ZIP code comparison tool to find the best State Farm vs. Primerica life insurance rates.
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Frequently Asked Questions
What is the difference between State Farm and Primerica life insurance?
State Farm and Primerica are both insurance companies that offer life insurance policies, but there are some key differences between them. State Farm is a well-established and reputable company that offers a wide range of insurance products, including life insurance.
Primerica, on the other hand, is a multi-level marketing company that primarily focuses on selling life insurance and other financial products through independent representatives. This difference in business models can affect factors such as pricing, customer service, and the overall experience of obtaining a policy.
Which company offers better customer service, State Farm or Primerica?
State Farm is generally known for its strong customer service and has a large network of local agents who can provide personalized assistance. On the other hand, Primerica’s customer service may vary depending on the independent representative you work with.
While some representatives may offer excellent service, others may not have the same level of training or experience. It is important to research and read reviews to get a better understanding of the customer service reputation of each company.
Are the life insurance policies offered by State Farm and Primerica similar in coverage?
Both State Farm and Primerica offer life insurance policies, but the specific coverage options and features may differ. State Farm provides various types of life insurance, including term life, whole life, and universal life, with customizable coverage amounts and flexible payment options.
Primerica mainly focuses on term life insurance policies, which provide coverage for a specific period, typically 10, 20, or 30 years. It is essential to review the policy details and compare the coverage options offered by each company to determine which aligns better with your needs.
Which company offers more affordable life insurance premiums, State Farm or Primerica?
When it comes to life insurance premiums, several factors come into play, including age, health, coverage amount, and policy type. Both State Farm and Primerica may offer competitive premiums depending on these factors.
State Farm’s extensive product range allows for more flexibility in pricing options, while Primerica’s focus on term life insurance may offer more affordable premiums for individuals seeking coverage for a specific period. It is recommended to obtain quotes from both companies and compare them based on your specific circumstances to determine which company offers more affordable premiums for you.
Can I switch my life insurance policy from State Farm to Primerica or vice versa?
Yes, it is generally possible to switch your life insurance policy from one company to another. However, there are some important considerations to keep in mind. Before switching, it is crucial to compare the coverage, policy terms, premiums, and any potential fees or penalties associated with canceling your current policy.
Additionally, you should assess the financial strength and reputation of the new company to ensure it meets your requirements. It is advisable to consult with a licensed insurance agent or financial advisor who can guide you through the process and help you make an informed decision.
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Dani Best
Licensed Insurance Producer
Dani Best has been a licensed insurance producer for nearly 10 years. Dani began her insurance career in a sales role with State Farm in 2014. During her time in sales, she graduated with her Bachelors in Psychology from Capella University and is currently earning her Masters in Marriage and Family Therapy. Since 2014, Dani has held and maintains licenses in Life, Disability, Property, and Casualt...
Licensed Insurance Producer
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
