Helping Customers Live Life Confidently
State Farm® reaches 8 million policies in force
On the cusp of the State Farm Life Insurance Company 90th anniversary, State Farm Life and its affiliate, State Farm Life and Accident Assurance Company, have reached eight million life and annuity policies in force.
“This is a great testament to our ongoing commitment to helping people,” said Senior Vice President – Financial Services Joe Monk. “We believe life’s uncertainties shouldn’t have to be managed alone. Helping customers with life insurance is a proud tradition for State Farm.”
“We’re grateful to our founder for having the vision 90 years ago to create the State Farm Life Insurance Company,” said Monk. “Because of his actions, we have the privilege of protecting customers with products and services tailored to meet their unique, individual needs.”
In April 1929, company founder George Jacob “G.J.” Mecherle purchased the first State Farm life insurance policy. It was for $2,000 of ordinary life insurance. Today, ordinary life insurance volume in force totals more than $913 billion.
In addition to these milestones, State Farm is also celebrating its number one ranking in customer satisfaction among life insurance providers by J.D. Power. State Farm earned this ranking when it was first awarded five years ago, and it’s led the way for five consecutive years. The company is the first and only life insurer to receive this recognition since J.D. Power first began ranking life insurers in 2014.
“Not only are we servicing millions of policies every day, we’re doing it with the top rated service State Farm is known for,” said Monk. “We appreciate the work of State Farm agents and employees, and we thank our customers for trusting us with their lives and recognizing us for protecting them well.”
For J.D. Power 2018 award information, visit jdpower.com/awards.
State Farm® Life Insurance Company (Not licensed in MA, NY or WI)
State Farm Life and Accident Assurance Company (Licensed in NY and WI) Bloomington, IL
The mission of State Farm is to help people manage the risks of everyday life, recover from the unexpected, and realize their dreams. State Farm and its affiliates are the largest providers of auto and home insurance in the United States. Its nearly 19,000 agents and approximately 58,000 employees serve approximately 83 million policies and accounts – approximately 81 million auto, fire, life, health and commercial policies and approximately 2 million bank accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 36 on the 2018 Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com.