Assurity vs. State Farm: Best Life Insurance Company in 2021

The Assurity vs. State Farm life insurance rates comparison favors Assurity for both term and whole life insurance. Assurity and State Farm are more expensive than many industry competitors. The Assurity and State Farm life insurance company financial strength ratings are both strong but State Farm is superior. State Farm and Assurity both offer term, whole, and universal life insurance options.

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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: Aug 23, 2021

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Quick Facts

  • Our Assurity vs. State Farm life insurance rates comparison favors Assurity for term and whole life insurance
  • State Farm boasts the superior financial strength rating from A.M. Best
  • The customer service ratings are stronger for State Farm than Assurity, which has limited ratings available

The best life insurance companies are often found by comparing lesser-known brands to household insurance names, like Assurity vs. State Farm. These comparisons help yield competitive term life insurance quotes nationwide.

With so much information available, comparing life insurance companies can get confusing. We’ll simplify things by comparing Assurity and State Farm’s life insurance rates, A.M. Best ratings, and the types of insurance available.

We have everything you’ll need to compare Assurity vs. State Farm. While you’re here, get instant rates from top life insurance providers near you using our free quote tool above.

Assurity vs. State Farm: Which company has the best life insurance?

While State Farm has a large following and social media presence, Assurity’s name flies under the radar for most people. However, it’s worth noting that Assurity has been in business about 30 years longer than State Farm.

State Farm does offer a more diverse assortment of products as a whole, but the Assurity life insurance company options are essentially the same.

Both companies offer term life insurance, whole life insurance, and universal life insurance. Although the two companies have similar policies, State Farm does market one advantageous product.

State Farm is considered one of the best return of premium life insurance providers, likely due to successful marketing. The company features the product on its website.

Ironically, Assurity also offers a return of premium rider but it isn’t as easy to find when compared to State Farm’s. You can learn more about each company’s policies in our Assurity life insurance review and State Farm life insurance review.

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Assurity vs. State Farm: Which company is the cheapest?

With few differences in life insurance policy options, the rates become more important. It’s standard to expect your most affordable Assurity or State Farm life insurance policy to be a term life insurance policy.

Average Assurity vs. State Farm Monthly Life Insurance Rates by Age, Gender, and Term Length for $250,000
Age and Gender10-Year Term (Assurity) Average Monthly Rates10-Year Term (State Farm) Average Monthly Rates20-Year Term (Assurity) Average Monthly Rates20-Year Term (State Farm) Average Monthly Rates
25 - Male$13.92$20.02$15.44$23.72
25 - Female$9.79$17.62$11.96$18.72
35 - Male$13.92$21.74$18.49$26.09
35 - Female$11.96$19.37$16.10$22.19
45 - Male$23.71$30.44$35.89$45.47
45 - Female$19.58$28.72$28.06$37.42
55 - Male$51.11$67.22$87.44$105.72
55 - Female $40.46$50.02$64.82$78.97
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With the sample Assurity vs. State Farm life insurance rates above, you’ll find that Assurity is consistently cheaper than State Farm for term life insurance regardless of age or gender.

Each life insurance company tends to weigh life insurance pricing variables differently. In this case, normal healthy adults can expect to pay a bit less with Assurity over State Farm term life.

Whole life insurance is another option with both Assurity and State Farm. There are many factors to consider that will determine your specific quote for whole life insurance, but we’ll compare some samples below.

Average Monthly Whole Life Insurance Rates for a Male with $100,000 in Coverage
CompaniesAge 50 Average Monthly Rates Age 55 Average Monthly Rates Age 60 Average Monthly Rates Age 65 Average Monthly Rates
AAA $17.78$22.53$37.14$59.93
Accordia Life$16.91$23.36$56.07$153.53
AIG $17.01$26.62$38.22$55.07
Assurity $20.10$28.45$44.20$67.08
Foresters Financial $15.31$20.83$34.04$43.66
Liberty Mutual $40.32$55.35$95.58$141.93
MassMutual$16.97$24.10$35.50$61.68
Mutual of Omaha$18.88$27.65$41.67$59.73
Prudential$21.88$28.18$37.72$58.45
State Farm $26.54$34.45$51.50$83.09
TransAmerica $20.21$30.10$42.66$71.29
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Based on the Assurity and State Farm life insurance quotes above, Assurity continues to be the more affordable of the two. However, note that both companies appear to be more expensive than many competitors.

Assurity vs. State Farm: Which company has better ratings and reviews?

Assurity’s life insurance rates appear to be favorable when compared to State Farm’s. Affordable life insurance rates are nice, but you’ll want to check ratings before you rush to buy Assurity or State Farm life insurance.

Ratings Comparison for Assurity vs. State Farm Life Insurance
Ratings AgencyAssurity RatingState Farm Rating
A.M. BestA-A++
Better Business BureauA+N/A
FitchN/AWD
J.D. PowerN/A838
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State Farm’s popularity has afforded them ratings from virtually every major rating agency. Assurity, on the other hand, has few ratings to analyze for financial strength or customer satisfaction.

State Farm’s A.M. Best rating is superior to Assurity’s, as it boasts the highest possible rating. However, Assurity’s rating for financial strength is still respectable.

To further complicate matters, Fitch withdrew State Farm’s financial strength ratings. Apparently, this occurs when the rating agency doesn’t have evidence to support a rating.

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J.D. Power and the Better Business Bureau (BBB) help gauge customer satisfaction. For whatever reason, the BBB has not affirmed State Farm’s rating but did rate Assurity with an A+.

J.D. Power scores life insurance companies on customer satisfaction, and State Farm ranked as the best life insurance company in 2020. Unfortunately, Assurity wasn’t included in the study to compare.

These ratings suggest that you should have very few challenges when submitting claims with State Farm. Most policy service options can be performed using State Farm’s mobile app, including making State Farm online payments.

The State Farm office hours will vary from agency to agency if you are looking to speak to your local representative. 

Assurity vs. State Farm: What are the pros and cons?

Choosing the best life insurance company isn’t as simple as choosing the most popular name. We’ve compared quite a bit about Assurity and State Farm throughout this article.

Below, we’ll highlight the key pros and cons of the two providers.

Pros:

  • Superior financial strength (State Farm)
  • Affordable rates (Assurity)
  • Strong customer service (State Farm)

Cons:

  • No BBB rating (State Farm)
  • Few ratings available (Assurity)
  • Above-average rates (both companies)

Assurity and State Farm are both reasonable options for life insurance, but each company features different strong points. Assurity offers cheaper rates and State Farm likely offers a better customer service experience.

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Assurity vs. State Farm: The Bottom Line

Popular life insurance providers like State Farm typically have a lot to offer. In this case, Assurity is competitive with State Farm despite being the smaller company.

By now, you should have everything you need to choose between Assurity vs. State Farm. Before you go, take advantage of our free quote tool below to get instant rates from top insurers near you.

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