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.

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