State Farm announces record $5 billion dividend
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State Farm is announcing the largest dividend in company history, a $5 billion giveback to auto policyholders. CEO Jon Farney told reporters the dividend works out to an average of $100 per vehicle for 49 million vehicles.
The insurance company said "positive performance" in the auto business led State Farm Mutual Automobile Insurance Company to issue out the dividends.
State Farm sells several types of life insurance, including term, whole and universal life insurance policies. The company offers multiple life insurance riders to enhance coverage. Its term life rates are a bit higher than those of the best term life insurers