State Farm Celebrates Life Insurance Milestone
Bloomington, IL, March 08, 2021 – In February, the State Farm Life affiliates reached a milestone achieved by only a few other companies in the industry, surpassing $1 trillion of individual life insurance in force. This milestone means customers have entrusted State Farm with the honor of protecting all that matters to them and their families with life insurance coverage. Whether it allows them to continue living in their home, maintain a current standard of living, or pay for college, life insurance makes a difference.
The first State Farm Life policy was issued on April 19, 1929, to company founder G.J. Mecherle in the amount of $2,000. Five life insurance policies issued in that first year are still in force.
“This achievement reflects our commitment to the State Farm mission of helping people manage the risks of everyday life, recover from the unexpected, and realize their dreams,” said Joe Monk, Senior Vice President – Financial Services. “For 92 years, State Farm has a proud tradition of helping customers with life insurance. We’ll continue building on this legacy of success to make a meaningful difference in the lives of many more customers.”
Life insurance offers customers the confidence to live life knowing their family’s financial future is protected, as illustrated by this heartwarming story, A Simple Act of Love.
The growth of State Farm Life affiliates is based on several competitive advantages: State Farm independent contractor agents who have personal relationships with customers, dedicated business area support, financial strength, and as well as our industry recognized customer satisfaction.
Julie Smith, Brand Promotion Specialist
State Farm Life Insurance Company (Not licensed in MA, NY or WI)
State Farm Life and Accident Assurance Company (Licensed in NY and WI)
For over 100 years, the mission of State Farm has been 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 more than 19,400 agents and 67,000 employees serve over 91 million policies and accounts – including auto, fire, life, health, commercial policies and financial services accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is also available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 44 on the 2023 Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com.