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Universal Life insurance provides flexibility

If seeking a flexible way to help protect your loved ones and build tax-deferred cash value, a Universal Life policy may be what you need. While this flexible permanent protection is ideal for those potentially seeking to adjust coverage and premiums to meet changing needs,1 it can be structured as a Survivorship or Joint policy. State Farm Life® Insurance Company (not licensed in MA, NY or WI) or State Farm Life and Accident Assurance Company (licensed in NY and WI) can help.

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If you are interested in additional life products, please contact a State Farm agent.

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Typical uses for Universal Life insurance

  • Helps provide for a family's loss of income, mortgage costs, and educational needs
  • Access to cash value (“living benefits”) for life's opportunities
  • Estate, special needs, and business planning

Universal Life insurance

This permanent policy allows you the flexibility to raise or lower your coverage1 or your premiums2 as needed. It even helps you potentially build account value you can use during your lifetime.3

Survivorship Universal Life insurance4

Covers two people. The death benefit is paid when the last person insured under the policy dies. Survivorship Universal Life is an efficient way to assist with a variety of planning needs such as cash for estate expenses, business transition planning or funding a special-needs trust.

Joint Universal Life insurance

Covers two people. The death benefit is paid upon the first death of the insureds. Joint Universal Life offers an economical way of providing permanent coverage for two individuals under one policy. It could provide real financial security for your loved ones, helping them pay the mortgage, fund a college education, and pay off monthly bills.

Need help choosing a policy?

Product Features Premiums1
Universal Life


Flexibility to change coverage amounts and premiums.


Minimum funding requirements must be met in order for the policy to remain in force and retain its flexibility.
Survivorship Universal Life


Pays benefits at the second spouse’s death. Typically used by couples with large estates to pay estate taxes, or to leave a legacy or charitable gift.


Flexible premiums which are generally lower than the premiums for a separate whole life or universal life policy.
Universal Life


Protection for two lives with a single policy. Typically more affordable than two permanent policies. Pays benefits at the death of the first insured to help cover the survivor’s expenses. Also used by business owners to fund buy-sell agreements.


Flexible premiums which are generally lower than the premiums for two separate policies.

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Optional coverages

Available for an additional cost

Flexible care benefits

Adding this rider to your Universal Life insurance policy benefits you by providing money to meet long-term care expenses if you incur them. However, if you don’t use this rider, the death benefit provided by your life insurance policy will be there for your beneficiaries.

Family coverage

Term life insurance on your spouse and children can be included on your base coverage by purchasing separate term riders, subject to insurability. The additional level term rider may not be available in all states.

Disability Waiver of Monthly Deduction

The cost of life insurance, optional coverages and the monthly expense charge can be waived during certain periods of total disability as defined in the policy and lasting six continuous months.

Guaranteed Insurability Option

You are guaranteed the right to increase your life insurance coverage by the amount of the rider on specific option dates without evidence of insurability. The waiver of monthly deduction for disability benefit must be present in order to add this coverage. When you marry or become a parent, you may exercise the next available option.

1 Coverage will expire when either no premiums are paid following the initial premium or subsequent premiums are insufficient to continue coverage

2 Increases in coverage are subject to underwriting and policy limits. Decreases in coverage are subject to policy limits.

3 Permanent life insurance develops cash value that can be borrowed. Policy loans accrue interest and unpaid policy loans and interest will reduce the death benefit and cash value of the policy. The amount of cash value available will generally depend on the type of permanent policy purchased, the amount of coverage purchased, the length of time the policy has been in force and any outstanding policy loans. There may be tax consequences associated with policy loans.

4 Survivorship Universal Life is the marketing name for Flexible Premium Joint and Last to Die Survivorship Adjustable Life Insurance.


This is a general description of coverage. This is a general description of coverage. A complete statement of coverage is found only in the policy.

For more details on coverage, costs, restrictions, and renewability, or to apply for coverage, contact your local State Farm agent.

Insurance policies and/or associated riders and features may not be available in all states, and policy terms and conditions may vary by state.

Policy Series Info

Securities are not FDIC insured, are not bank guaranteed and are subject to investment risk, including possible loss of principal.

Issued by:
State Farm Life Insurance Company (Not licensed in MA, NY, or WI)
State Farm Life and Accident Assurance Company (Licensed in NY and WI)
Home Office, Bloomington, Illinois

Each insurer is financially responsible for its own products.