Lincoln vs. State Farm: Top Life Insurance in 2024
In a comparison of Lincoln vs. insurance companies, it was a victory for Lincoln. Lincoln offers far more affordable rates to men of various ages than . Lincoln also offers far more affordable rates to women of various ages than . However, does hold a higher rating from A.M. Best. If you aren't happy with Lincoln or , compare rates from other companies to find the best choice for you.
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Leslie Kasperowicz
Farmers CSR for 4 Years
Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...
Farmers CSR for 4 Years
UPDATED: Mar 15, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Mar 15, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Lincoln offers more affordable rates to men and women of various ages than State Farm
- Lincoln received rating of “A+” (Superior) from A.M. Best
- State Farm received a rating of “A++” from A.M. Best
Part of what makes comparing life insurance companies difficult is the sheer number of options on the market. To simplify matters, we will be focusing on Lincoln vs. State Farm life insurance companies today.
Our State Farm and Lincoln Financial Group life insurance review will cover the term life insurance rates offered to men and women of various ages. Also covered will be ratings from both the BBB and A.M. Best.
Before we dive into our Lincoln vs. State Farm life insurance comparison, type your ZIP code into our free and helpful tool above to find the most affordable life insurance quotes in your area.
Lincoln vs. State Farm: Which company offers more affordable life insurance rates to men?
The simplest place to start when comparing two companies is pricing. Let’s look at a table that compares Lincoln vs. State Farm monthly term life insurance rates for men.
Lincoln vs. Others: Term Life Average Monthly Rates for Males
| Company | 30-Year-Old Male Average Monthly Rates | 40-Year-Old Male Average Monthly Rates | 50-Year-Old Male Average Monthly Rates | 60-Year-Old Male Average Monthly Rates |
|---|---|---|---|---|
| Haven Life | $23.45 | $31.20 | $85.47 | $245.67 |
| Lincoln | $12.34 | $15.22 | $30.96 | $71.95 |
| Nassau Life | $17.43 | $26.15 | $51.69 | $119.78 |
| Principal | $12.69 | $15.80 | $31.15 | $71.97 |
| Prudential | $21.88 | $25.60 | $38.07 | $79.41 |
| Sagicor | $12.60 | $17.07 | $43.59 | $103.05 |
| SBLI | $11.80 | $14.53 | $31.88 | $75.61 |
| Securian Financial | $8.81 | $11.04 | $22.17 | N/A |
| State Farm | $24.59 | $33.72 | $69.59 | N/A |
| Transamerica | $12.47 | $18.71 | $37.41 | $86.86 |
How easy is it to find affordable Lincoln vs. State Farm life insurance quotes? As you can see, Lincoln is just over half as much as State Farm per month for men in their 30s.
Is State Farm more expensive for men in their 40s, as well? Yes, for men in their 40s, State Farm is over twice as much per month as Lincoln.
Lastly, let’s look at Lincoln vs. State Farm life insurance rates for men in their 50s. These show that Lincoln is nearly $39 cheaper per month than State Farm for a term life insurance policy.
In short, our Lincoln vs. State Farm life insurance review has shown us that Lincoln offers far more affordable rates to men of various ages than State Farm.
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Which company offers more affordable rates to women?
Let’s now take a look at a table comparing Lincoln vs. State Farm monthly term life insurance rates for women.
Lincoln vs. Others: Term Life Average Monthly Rates for Females
| Company | 30 -Year-Old Average Monthly Rates | 40-Year-Old Average Monthly Rates | 50-Year-Old Average Monthly Rates | 60-Year-Old Average Monthly Rates |
|---|---|---|---|---|
| Haven Life | $20.01 | $27.76 | $68.24 | $160.40 |
| Lincoln | $16.10 | $21.22 | $37.41 | $74.81 |
| Nassau Life | $16.14 | $22.52 | $42.11 | $89.06 |
| Principal | $11.27 | $14.39 | $25.94 | $51.41 |
| Prudential | $17.72 | $21.22 | $37.63 | $59.07 |
| Sagicor | $10.95 | $15.10 | $36.75 | $63.78 |
| SBLI | $10.38 | $13.08 | $26.72 | $53.85 |
| Securian Financial | $8.21 | $9.83 | $17.31 | N/A |
| State Farm | $18.72 | $28.49 | $54.59 | N/A |
| Transamerica | $11.18 | $16.34 | $29.89 | $71.81 |
Is Lincoln still the cheaper company? Women in their 30s will be paying over $2 more per month with State Farm.
How about women in their 40s? These women will be paying over $7 more per month with State Farm. Lastly, for women in their 50s, Lincoln is $17 cheaper per month.
We now know that Lincoln is the cheaper company across the board when compared to State Farm. Let’s take a look at Lincoln vs. State Farm reviews from the Better Business Bureau and A.M. Best.
Term Life Insurance Policy Specifications
Now that we know Lincoln is the cheaper company for men, let’s take a closer look at Lincoln’s TermAccel policy. Pay particular note to term periods and death benefits.
Lincoln Financial TermAccel
| Issue Ages: | 18 - 60 |
| Coverage Options: | Term Life Insurance |
| Death Benefit Amounts: | $100,000 - $1,000,000 |
| Health Classes: | Preferred Plus, Preferred, Standard Plus & Standard |
| Application Type: | Online |
| Telephone Interview: | Yes |
| Exam Potential: | Could be required |
| Underwriting: | MIB, MVR, Prescription History |
| Fastest Approval Time: | 2 - 7 Business Days |
It is very much worth being aware of your specific needs prior to choosing not only a company, but a company’s specific coverage form. No two companies offer the exact same product line.
Now that we have some more details about Lincoln’s coverage, let’s see if it can retain its lead when we analyze the rates offered to women of various ages.
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Lincoln vs. State Farm: Which company is more well-reviewed?
To wrap up, let’s look at the ratings given to these two companies by A.M. Best. These Financial Strength Ratings (FSR) give a potential insured confidence in an insurer’s ability to meet its financial obligations.
Lincoln received rating of “A+” (Superior), which is the second-highest rating given by A.M. Best.
What rating did A.M. Best give to State Farm? State Farm received a rating one notch higher of “A++,” which is the highest possible rating.
The Better Business Bureau is another organization that can provide security in one’s choice of insurance provider.
Lincoln Financial Group received the Better Business Bureau’s lowest possible rating of “F.” Furthermore, Lincoln Financial Group does not hold BBB accreditation.
How did State Farm fare in comparison? Even after 99 years in business, State Farm lacks both a BBB rating and accreditation.
In conclusion, Lincoln offers more affordable rates to men and women of various ages while State Farm holds a higher rating from A.M. Best.
We hope you’ve learned all you needed to decide whether to buy Lincoln vs. State Farm life insurance. Type your ZIP code into our free and helpful tool below to find affordable quotes in your area.
Read more:
- Lincoln vs. Prudential: Top Life Insurance
- Lincoln vs. Sagicor: Top Life Insurance
- Lincoln vs. SBLI: Top Life Insurance
- State Farm Life Insurance Company Review
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Frequently Asked Questions: Lincoln vs. State Farm Life Insurance
What follows are a few commonly asked questions about Lincoln and State Farm.
#1 – What is the Lincoln Heritage Life Insurance number?
Lincoln Heritage’s customer service department can be reached at (800) 438-7180. For policy payments, contact: (800) 930-7459. For claims, contact: (855) 706-2396.
#2 – What is the Lincoln National Life Insurance Company address?
Lincoln National Life Insurance Company PO Box 2616, Omaha, NE 68103-2616. You can also fax your completed enrollment forms to: 1-877-573-6177.
#3 – How do I make a State Farm payment?
You can call your agent or go to the website and type in your State Farm login. This is also the case to file a State Farm insurance claim.
Your one-stop online guide for life insurance quotes. Get free quotes now!
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Leslie Kasperowicz
Farmers CSR for 4 Years
Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...
Farmers CSR for 4 Years
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.