American National vs. State Farm: Best Life Insurance Company in 2021

Both American National and State Farm life insurance companies offer term and permanent life insurance options, and both companies have add-ons with annuities and riders to help tailor policies to better suit your needs. While American National has an A rating from A.M. Best, State Farm has lower life insurance rates and boasts an A++ rating with A.M. Best. Comparing American National vs. State Farm life insurance rates will ensure you find the best policy for you.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Sep 8, 2021

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Quick Facts

  • American National offers whole, term, and universal life insurance options to its policyholders
  • State Farm offers term and permanent life insurance with annuities and other options
  • American National has an A rating with A.M. Best while State Farm garners an A++ rating

If you are interested in comparing American National vs. State Farm, you are not alone. Many individuals see both companies as valid options when it comes to life insurance. But, at the end of the day, you simply need to know which company is the best option for you.

While State Farm life insurance offers more options and conveniences, American National is considered both reliable and helpful when it comes to accessing information, filing claims, or seeking help in virtually any capacity.

If you are looking to buy American National or State Farm life insurance, you’ll want to decide which types of life insurance you’re interested in and educate yourself on what each company has to offer.

Before you search specifically for American National vs. State Farm life insurance quotes, be sure to use our free tool above to find the best life insurance options in your area.

What life insurance options do American National and State Farm offer?

American National and State Farm both offer a vast array of life insurance options to policyholders. For American National, these options include:

  • Whole life – Permanent life insurance with a fixed premium, fixed benefits, and options for dividends.
  • Term life – Coverage for anywhere from five to 30 years that includes affordable premiums and flexibility for your unique needs.
  • Universal life – Permanent life insurance with more flexibility than whole life coverage. Policyholders can adjust premiums and benefits, and have access to loans and optional riders.
  • Indexed universal life – Universal life coverage with the option of tying your policy to a specific stock index.
  • Guaranteed universal life – Allows you to customize your death benefit, get cash for your policy at virtually any time, and accelerate your death benefit when necessary.

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State Farm also offers both term and permanent life insurance options. With State Farm, policyholders can choose from the following offerings:

  • Term life – State Farm term life coverage is offered for a specific amount of time ranging from five to 20 years. This coverage provides a death benefit and lower monthly premiums but does not include a cash payout.
  • Whole life – A permanent life insurance policy with fixed premiums, options for annuities, and the potential for dividends to be paid in cash.
  • Universal life – A flexible policy with fluctuating premiums that helps families who may experience loss of income, mortgage costs, or educational needs. This is a permanent life insurance policy with more flexibility than a whole life policy.

As you can see, American National and State Farm term life insurance options are quite similar. In the same way, American National and State Farm whole life insurance and universal life insurance options have many similarities.

If you’re searching for American National or State Farm life insurance options, you will need to decide what type of policy would benefit you and your loved ones the most.

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How much is life insurance with American National and State Farm?

As you look into affordable American National vs. State Farm life insurance, the cost will vary based on a number of factors. Some of these factors include a person’s age, gender, the policy type, and amount of coverage on the policy.

The table below shows average rates for American National life insurance policies based on a person’s age, gender, and policy amount:

Sample American National Life Insurance Average Monthly Rates by Age, Gender, and Coverage
Gender and CoverageAge 25 Average Monthly Rates Age 35 Average Monthly Rates Age 45 Average Monthly Rates Age 55 Average Monthly Rates
$100,000: 20-year term (male)$15.98$16.68$30.76$65.06
$100,000: 20-year term (female)$14.17$15.81$24.80$47.17
$250,000: 20-year term (male)$13.61$15.12$29.16$66.10
$250,000: 20-year term (female)$12.31$14.04$23.98$52.92
$500,000: 20-year term (male)$20.74$23.33$50.11$122.26
$500,000: 20-year term (female)$18.58$20.74$41.04$95.90
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In comparison, the next table shows the same information from State Farm:

Sample State Farm Life Insurance Average Monthly Rates by Age, Gender, and Coverage
Age $100,000: 20-Year Term Average Monthly Rates (Male)$100,000: 20-Year Term Average Monthly Rates (Female)$250,000: 20-Year Term Average Monthly Rates (Male)$250,000: 20-Year Term Average Monthly Rates (Female)
25$14.53$12.70$23.27$18.72
35$17.57$15.40$26.09$22.19
45$26.54$22.97$45.47$37.42
55$50.98$38.11$105.72$78.97
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As you can see, life insurance rates with State Farm tend to be lower than those with American National. But these charts are not the only thing to consider when shopping for life insurance.

For example, if State Farm offers slightly lower rates, but American National insurance claims tend to be handled more quickly and with greater ease, you may want to consider going with American National even if it doesn’t offer the lowest rates on life insurance.

Does American National or State Farm have better ratings?

American National and State Farm both have solid ratings with A.M. Best. American National boasts an A with the company, while State Farm has garnered an impressive A++ with A.M. Best.

Both of these companies have proven to have sound financial footing and a positive outlook for future endeavors.

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Should I choose American National or State Farm?

Whether you should choose American National or State Farm depends on several different factors. Do you know what type of life insurance policy you’re looking for? Have you checked to see which company has the best rates for term, whole, and universal life coverage?

You need to consider the kind of policy you want, how much it costs with each company, and which seems like the most trustworthy based on ratings. A life insurance policy is an investment that is likely to span years if not decades. You should not rush into making a decision.

In fact, now that you’ve learned more about American National and State Farm life insurance companies, you may be curious about what other life insurance companies have to offer.

Before you commit to American National or State Farm life insurance rates, be sure to use our free tool below to explore your life insurance options and find the best fit for you.

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