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Term policies

State Farm Select Term

Ten, twenty or thirty years of level premiums, sold only through State Farm agents. The 30-year option closes at 45, earlier than at many insurers, so the age you shop at matters.

By the InsureTerm editorial teamReviewed by a licensed life insurance agentChecked November 11, 20267 sourcesHow we are paid

The short answer

State Farm Select Term is a level-premium term policy in 10, 20 or 30-year lengths, from $100,000 of cover, sold through State Farm agents. As of November 11, 2026 State Farm issues the 10-year to ages 18 to 75, the 20-year to 18 to 65 and the 30-year only to 18 to 45. After the level period it renews yearly to age 95 at rising premiums, and State Farm says conversion options vary by state.

Lengths
10, 20, 30 years
Minimum cover
$100,000
Stated by
statefarm.com Select Term page
On this page
  1. What Select Term is
  2. Ages and lengths you can still buy
  3. After the level period, renewal to 95
  4. Conversion, and why it varies by state
  5. The riders
  6. Sample prices and what they leave out
  7. Buying Select Term and comparing it
  8. Questions people ask

What Select Term is

Issuing insurer
State Farm Life Insurance Company, or State Farm Life and Accident Assurance Company for residents of New York and Wisconsin [2]
Level periods
10, 20 or 30 years [1]
Issue ages
18 to 75 for 10 years, 18 to 65 for 20 years, 18 to 45 for 30 years [1]
Cover
Starting at $100,000 [1]
After the level period
Renewable each year to age 95, premiums rise each year up to a maximum in the policy [1]
Conversion
To permanent cover regardless of health, options vary by state [1]
How you buy
Through a State Farm agent [2][5]
Where it is not sold
Massachusetts and Rhode Island, per CNBC [5]

State Farm describes the first premium as "guaranteed level for the term you select" and lets you pay monthly or annually.[1] If you also insure a car with State Farm, the page says the policy "may entitle you to a discount on your auto premiums".

Ages and lengths you can still buy

The 30-year option is the one to watch. State Farm stops issuing it after 45. Banner Life's OPTerm 30 stays open to 55 for nonsmokers, and Aflac's individual 30-year term to 50.[3][4] A 44-year-old who wants cover to retirement has two years left at State Farm and about ten elsewhere.

Level periodState Farm Select TermBanner OPTerm, nonsmokerBanner OPTerm, tobaccoAflac individual term
10 years18 to 7520 to 7520 to 7518 to 70
20 years18 to 6520 to 7020 to 6518 to 60
30 years18 to 4520 to 5520 to 5018 to 50

Checked November 11, 2026. Issue ages from each insurer's consumer page or brochure.[1][3][4] Banner counts age nearest birthday. State Farm and Aflac do not say which age they use, so ask before a birthday.

Issue age windows by length. For 30-year terms State Farm closes at 45, Aflac at 50 and Banner at 55 for nonsmokers. State Farm 10 Banner 10 Aflac 10 State Farm 20 Banner 20 Aflac 20 State Farm 30 Banner 30 Aflac 30 1845556575 The same issue age windows drawn for a narrow screen. SF 10 Banner 10 Aflac 10 SF 20 Banner 20 Aflac 20 SF 30 Banner 30 Aflac 30 184570 Age at purchase
  • State Farm Select Term, 10-year 18 to 75, 20-year 18 to 65, 30-year 18 to 45
  • Banner OPTerm nonsmoker, 10-year 20 to 75, 20-year 20 to 70, 30-year 20 to 55 (soft bars)
  • Aflac individual term, 10-year 18 to 70, 20-year 18 to 60, 30-year 18 to 50 (framed bars)
Figure 1 · When each length stops being sold, drawn to scale by age at purchase. Sources State Farm, Banner Life and Aflac consumer documents, checked November 11, 2026.

Example. A 46-year-old nonsmoker who wants cover to age 76

State Farm Select Term 30
Closed after 45
State Farm Select Term 20
Open, ends about 66
Aflac 30-year
Open to 50
Banner OPTerm 30
Open to 55, ends about 76

Issue ages from the table above. At State Farm this buyer could pair a 20-year policy with something else, or look at a 30-year term from another insurer before 50 or 55. Prices are not compared here because they depend on underwriting.

Our guide to term lengths and age limits lines up more insurers, and the term length picker works out the length from your youngest child and your mortgage.

After the level period, renewal to 95

When the 10, 20 or 30 years end, the cover does not stop. State Farm lets you continue "on an annually renewable basis to age 95", and says the premiums "will increase annually, but will never exceed the maximum premium stated in your policy."[1] That maximum is a ceiling, not the price you will pay. Look for it on the schedule page of the policy before year 10, 20 or 30 arrives.

Conversion, and why it varies by state

State Farm says you can "convert any State Farm term life insurance coverage to permanent coverage, regardless of your health status", then adds that "Conversion options will vary by state and with some term policy types by age."[2] It does not publish a last conversion date for Select Term on either page.

The riders

  • Children's Term Rider. Up to $20,000 for each eligible child, to age 25 or until you turn 65, convertible at 25 for up to five times the amount.[1]
  • Select Term Rider. Extra level cover for 10, 20 or 30 years on you or another person, also renewable to 95. This is how a State Farm buyer can build a ladder on one policy, as our laddering guide explains.
  • Waiver of Premium for Disability. Waives premiums if you are totally disabled for six continuous months before 60, with shorter terms for a disability between 60 and 65.[1]

CNBC adds that State Farm has fewer riders than many rivals, that "none are free", and that the accelerated death benefit costs extra.[5]

Sample prices and what they leave out

Sample price, checked November 11, 2026

Female 25, excellent health, Illinois, $250,000, 10-year
$15.02 a month or $172.50 a year
Same profile, 20-year
$15.22 a month or $175.00 a year
Same profile, 30-year
$19.14 a month or $220.00 a year

State Farm's own "starting at" samples for Select Term.[2] They assume the profile shown. Not a quote. A man, an older buyer or anyone outside the top health class will pay more.

Two things stand out. The 20-year costs only $2.50 a year more than the 10-year at this age, so the shorter term is rarely the bargain it looks. And paying monthly costs more. Twelve payments of $15.02 come to $180.24, which is $7.74 or about 4.5% more than the annual price. The monthly versus annual guide shows the interest that implies.

lifeinsurance.org, the second result for State Farm term searches, still quotes State Farm's financial figures from 2021.[6] Prices and rules move, so check the date on any review.

Buying Select Term and comparing it

CNBC states that "you'll have to work with a State Farm agent to buy any policy", and insure.com calls State Farm "an agent-first model".[5][7] A State Farm agent quotes State Farm. To see Select Term against other insurers, get the State Farm quote for your exact age, class, amount and length, then compare quotes from other insurers for the same profile.

Questions people ask

What is the oldest age for State Farm 30-year term?

45. State Farm lists issue ages of 18 to 45 for Select Term 30, 18 to 65 for the 20-year and 18 to 75 for the 10-year.

What happens when State Farm Select Term ends?

You can keep it on a yearly renewable basis to age 95. The premium rises every year after the level period, up to the maximum printed in your policy.

Can I convert State Farm term to whole life?

State Farm says term coverage can be converted to permanent coverage regardless of health, with options that vary by state and, for some policies, by age. Your contract holds the deadline.

Can I buy State Farm term online?

You can start a quote online, but State Farm directs applications to a local agent. Its small Instant Answer Term policy is bought at an agent's office.

Last updated November 11, 2026. Found an error? Call (305) 699-5857 and it goes in the corrections log.

Sources (7)
  1. State Farm, Select Term Life Insurance, product page with riders, undated. Opened November 11, 2026. statefarm.com
  2. State Farm, Term Life Insurance, sample rates and footnotes, undated. Opened November 11, 2026. statefarm.com
  3. Banner Life, OPTerm product information for individuals, issue ages, form CN04022026-2. Opened November 11, 2026. bannerlife.com
  4. Aflac, Aflac Term Life individual brochure, form IC(6/19)B60275COM. Opened November 11, 2026. aflac.com
  5. CNBC Select, State Farm life insurance review, updated March 19, 2026. Opened November 11, 2026. cnbc.com
  6. lifeinsurance.org, State Farm life insurance company review, no date shown. Opened November 10, 2026. lifeinsurance.org
  7. insure.com, State Farm life insurance ratings and review, updated January 19, 2026. Opened November 11, 2026. insure.com

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