Allstate Life Insurance

Allstate Life Insurance Review

Allstate life insurance Pros & Cons

Allstate is a life insurance carrier based in Northbrook, IL. The company was founded in 1931 and offers life insurance products in 49 states (and Washington, DC).

Allstate life insurance FAQ

What types of life insurance products does Allstate offer?

Life insurance companies typically offer a wide variety of life insurance options. One of the best ways to save money on life insurance products is to avoid unnecessary coverage. Only purchase life insurance policies and riders you actually need.

Here is a brief description of life insurance options Allstate offers.

• Term Life Insurance - This is the simplest type of life insurance policy. Term life insurance policies are payable if the insured person dies within a specific period of time, such as 5, 10, or 30 years. Allstate life insurance offers term lengths ranging from 10 to 30 years.
• Level Term Life Insurance - These are term life insurance policies that have the same fixed premium and payment amount through the duration of the life insurance policy.
• Whole Life Insurance - Whole life insurance policies remain in force for the policyholder's entire life, provided premiums are paid. They have a tax deferred cash value, meaning the cash value will not be taxed until funds are withdrawn.
• Universal Life Insurance - This type of universal life insurance policy guarantees a fixed death benefit and an investment account. The cash value of the investment account will vary depending on the portfolio's performance.

As well as the basic coverage mentioned above, Allstate Life Insurance also offers the following features:

• Guaranteed acceptance - These whole life insurance policies offer a cash death benefit to the beneficiary. All coverage applications are approved regardless of health concerns. The catch is that these life insurance policies usually have lower death benefits and higher than normal premiums.
• Final Expense - Even bare-bones funerals can cost thousands of dollars. These whole life insurance policies, also known as burial insurance, cover funeral and burial costs.

What is SuperMoney's financial rating of Allstate?

The financial strength rating of life insurance companies scores its ability to pay contracts and life insurance policies. SuperMoney gives Allstate an A+, which is the highest available rating we give to life insurance companies.

SuperMoney's financial strength rating is primarily based on the average score from independent insurance rating agencies.