I want to get some life insurance on myself so my kids can go to college in case I die. I already have my car and homeowners with State Farm. Should I get my Life Insurance there too?
Is State Farm a good company for Life Insurance?
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State Farm (and Allstate) often offer to discount your Home or Auto if you place your Life Insurance with them. On the surface it sounds like a great deal.
But you need to actually compare the Home/Auto discount, to the difference in Premium for the more competitive Life Insurance Policy.
Every time I have done this with a person, the lower priced Life Insurance Policy saves a lot more money than a discount other policies.
Speak to an independent Agent who can compare multiple companies and show you the most competitive for your situation. Or visit a website such as the one on my profile and you can compare quotes yourself.
State Farm is a top rated insurance company and is a brand you should consider in your research. A wise consumer should always shop all insurance purchases against dozens of other companies before making a purchase. If the savings are substantial, I would buy elsewhere. If the price is close...State Farm is fine.
An independent insurance broker can help you shop dozens of companies all at one time.
Their underwriting is yet another issue. Being primarily a property and casualty company they have stricter Life Insurance underwriting than a Life Insurance company. Many times the agent is not that involved in the sale or service which may be relegated to the customer service rep.
I have been a licensed agent for a long time. I use a property and casualty company for my property and casualty coverages and Life Insurance companies for my Life Insurance.