State Life Fund
Definition - What does State Life Fund mean?
A state life fund is a life insurance option that is offered by a state to residents of the state, as Wisconsin does through the Wisconsin State Life Fund. In other words, it is government sponsored life insurance.
Insuranceopedia explains State Life Fund
A state life fund is a way of getting health insurance that is an alternative to getting one through a private insurer or an employer. Although this form of life insurance is provided by the government, citizens must still submit an application to receive coverage and must also pay a premium. One way that state life funds differ from private life insurance companies is that they are typically exempt from federal income taxes.