April 20, 2014 9:36 AM ET

Insurance

Company Overview of State Farm Life Insurance Company, Inc.

Company Overview

State Farm Life Insurance Company, Inc. provides life insurance products and annuities. It offers term life, whole life, and universal life insurance plans as. Annuities include future wealth builder, future income plus, and guaranteed income plans. The company was founded in 1929 and is based in Bloomington, Illinois. State Farm Life Insurance Company, Inc. operates as a subsidiary of State Farm Mutual Automobile Insurance Company.

One State Farm Plaza

Bloomington, IL 61710

United States

Founded in 1929

Phone:

309-766-2311

Fax:

309-766-3621

Key Executives for State Farm Life Insurance Company, Inc.

Chairman and Chief Executive Officer
Age: 62
Vice Chairman and Chief Agency Officer
Vice President and Chief administrative Officer
Age: 63
Compensation as of Fiscal Year 2013.

State Farm Life Insurance Company, Inc. Key Developments

State Farm To Divest Johns Creek campus

State Farm Life Insurance Company, Inc. is selling its Johns Creek campus as part of a national real estate initiative. The company said that the move will not result in any changes in its use of the campus, as the company intends to lease the property from the eventual purchaser. State Farm's spokesman, Justin Tomczak, said that the move to sell the two Johns Creek buildings is part of a broader corporate strategy to give State Farm flexibility and "meet changing customer needs and expectations.

State Farm Life Insurance Company Introduces New Joint Universal Life Product

State Farm Life Insurance Company announced the addition of Joint Universal Life (JUL) insurance to the State Farm Life Affiliates' product portfolio. JUL provides an affordable way for two individuals to obtain life insurance coverage under one policy. Joint Universal Life (JUL) is a flexible premium life insurance policy with the death benefit payable at the first death of two insured lives. This product is available in most states and Canada, and is designed to help households where income needs and the desire to meet liabilities exists regardless of who dies first. JUL is also designed for the business continuation market, providing funds in the form of a death benefit upon the first death which can be used to meet business obligations. The policy can be customized to meet specific needs by adding term riders on either insured. Additionally, the policy builds account value from which loans and withdrawals are available. In addition to providing the important benefits of permanent life insurance, JUL has the convenience of allowing customers to purchase one death benefit, instead of being faced with purchasing insurance on each insured not knowing who will die first. With a single death benefit for two lives, JUL is typically more affordable than purchasing two individual permanent policies.

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