Whole Life insurance

Whole Life insurance offers level premiums and life insurance protection for as long as you live, provided that premiums are paid as required to keep the policy in force. State Farm offers whole life policies that can be paid with a single premium, premiums payable to 100, or somewhere in between. Whole life policies also provide for the accumulation of cash value on a tax-deferred basis which can be used when you need it, to help with life's opportunities. Policy loans do accrue interest, and any outstanding policy loans and interest will reduce the death benefit and cash value.