Yes, Allstate Have Life insurance.
Allstate is a financial service company that is perhaps most well-known for its home and auto insurance policies. This includes motorcycles, renters insurance and condo insurance. Allstate offers a variety of life insurance policies.
What is Allstate?
Although Allstate was established in 1931, the slogan “You’re safe with Allstate” wasn’t created until 1950. Allstate Insurance Company was originally a division of Sears catalog and retail chain. It added insurance products over time to better serve its expanding customer base. Sears sold its Allstate stake in 1993 and the company became public.
Allstate offers a variety of protection products, including home insurance, renters insurance and condo and landlord insurance. They also offer auto and life insurance. Allstate is the largest auto insurance company in the United States today, but for this review we will focus on their life insurance products.
Allstate has a wide selection of life insurance options that allows it to offer a policy that suits the needs of all potential customers. There are several life insurance options available, including whole life, variable, and term life insurance. Allstate’s life insurance policies could be a good fit for existing customers. This is due to the convenience and because of the bundling discounts that are available with other Allstate products. Customers who have access to a lot of online resources and prefer easy account access and research, may find Allstate a good fit.
Allstate tied for 11th place in U.S. News Best Life Insurance Companies 2021 with a score of 3.8. A.M. Best has given Allstate an A+ rating.
Are Allstate’s benefits right for me?
Pros
- Allstate offers term, whole, universal, variable universal and universal life insurance options
- Allstate has many online resources available
- Bundling discounts can be availed when you combine life insurance and certain Allstate policies
Cons
- Allstate’s policies for life insurance may be more costly than other competitors
- It can be overwhelming to consider all the options available.
Allstate is a trusted insurer that may inspire confidence in its various life policies. These include TrueFit term, whole life permanent insurance and universal life. The wide range of options available may overwhelm or intimidate potential customers as they begin to look into their life insurance options. However, Allstate’s LifeTrek analysis tool can assist customers in determining what they need in terms death benefits, cash values features, financial obligations, and benefits when purchasing a new policy. Allstate also offers a wealth of online resources including detailed FAQs, mobile account access and guides that will help you decide which policy is best for you and whether Allstate is the right company for your life insurance needs.
Allstate offers life insurance policies
Allstate has the life insurance policy that you need, no matter what type of policy. Allstate offers three types of life insurance policies, including universal life, whole life, term, and universal.
Allstate offers term life insurance options
TrueFit is Allstate’s term insurance policy. You can choose from short-term or long-term coverage, with a minimum of 10 years to maximum of 30. The applicants must be aged between 18 and 80. Allstate offers online estimates for TrueFit term policies, but applicants will need to contact an agent to make an application. The policy offers a tax-free death benefit for the policyholder and his or her designated beneficiaries. The premiums are fully guaranteed, level and unaffected during the term. There is also an annual increasing premium scale. TrueFit term insurance policies can be converted to permanent coverage. TrueFit policy does not have cash value, which is common for term life insurance policies. Allstate offers the following riders on term life insurance: Disability Waiver, Terminal Illness Accelerated benefit, Disability Waiver, Children’s Terms Rider, Primary Insured Rider, Additional Insured Rider, and Accidental death Benefit.
Check out our What Is Term Life Insurance guide for more information on the advantages and drawbacks of term life insurance policies and what you should be aware of when you compare shop.
Allstate offers whole life insurance options
Allstate offers one whole-life insurance policy. However, it can be customized and modified to suit your specific needs. Allstate offers whole life insurance for those between the ages 0 and 80. This policy is permanent and whole life. This policy is only available through a life insurer and starts at $10,000. There are three terms for premium payments: to age 121, to age 70, 20-Pay and 10-Pay. Single Pay is also available. The premium is guaranteed to be the same level throughout the chosen payment period. The policy provides tax-advantaged cash accumulation and a tax-free, tax-free death benefit to the insured. Allstate’s whole-life insurance policy also offers tax-advantaged cash value accumulation and excess credit earnings. These can be used to purchase additional life insurance, reduce premium payments, or pay off outstanding loans. Allstate offers the following riders to whole life insurance: Chronic Illness Accelerated Benefici, Terminal Illness Accelerated Benefici, Disability Waiver, Premium Waiver, Disability Waiver, Disability Waiver, Children’s Term Ride, Primary Insured Rider, Guaranteed Insurance Rider, Paid-Up Rider.
Our What is Whole Life Insurance? section will help you understand whole life insurance.
Allstate offers universal life insurance options
Allstate offers both universal life insurance and variable life insurance. These are only available through Allstate agents. Allstate’s universal coverage starts at $50,000 and the variable universal policy starts at $100,000. Both policies are available for those between the ages of 0 and 80. Both policies offer fully flexible premiums with adjustable payment terms. Both policies offer a tax-free death benefit as well as tax-advantaged cash accumulation. Allstate offers the following riders for its universal and variable universal policies: Disability Continuation, Benefits Accelerated, Chronic Illness Accelerated, Benefits Accelerated, Terminal Illness Accelerated, Benefits Continuation, Benefits Continuation, Premium, Disability Continuation, Premium Rider, Children’s Term Riders, Guaranteed Insurability Riders, Paid Up Insurance Riders, Overloan Protection Riders, and Accidental Death Benefit.
The way that they accrue value is where Allstate’s universal and variable life policies differ. The universal life policy allows policyholders to link cash value to broad performance of stock index funds. However, there are limits on how much can you gain or lose. Policyholders can also choose guaranteed annual returns or a combination of both. The universal life policy allows the policyholder to adjust the death benefit to suit changing financial needs, provided that sufficient premium has been paid (subject to approval by underwriting).
Variable universal life policies allow policyholders to choose from several sub-accounts that can invest cash value. These have higher risk but greater growth potential than universal life policies. There is no limit on how much cash can be lost or gained.
What Does Allstate Life Insurance Cost?
Allstate’s standard base cost may be helpful in estimating how much you should budget for a term policy. The costs are based on a healthy candidate who lives in Virginia and has $250,000 coverage. This policy also comes with a 10-year term. The base cost of a policy for a 25-year old female is $15 per month. For a 35-year old female, $16 per month will be required. A 45-year-old female will need to pay $24 per monthly. Monthly base costs for males aged 25-35-, 45-years-old are $17, $18, or $29. The monthly base costs for a 25-, 35-, or 45-year old male are $17, $18, and $29. You can find out more about the cost of term life policies on our Life Insurance Quotes page.
Universal and whole life policies are similar to term policies in that they consider the same factors as term policies. These include age, gender and health history (personal or family), smoking status, hobbies and occupation. These policies include both universal and whole life policies. They may also include investment options that could affect the price.
How to Buy Life Insurance From Allstate
Although Allstate offers many online resources, including term life insurance quotes, it is best to speak to an agent to make your decision and purchase your policy. Call the Allstate toll-free number listed on the page that describes the type of life insurance you are interested in. You can also find an Allstate agent in your area or within your zip code. A medical exam may be required for Allstate’s term, universal, and whole life policies. This is based on the applicant’s age, health, as well as the requested coverage.
Your age, risk factors, income replacement needs of your family, assets and debts and financial goals will all be considered by your Allstate agent to determine your coverage requirements. Talk to an Allstate agent for information about Allstate products in your area and the maximum life insurance coverage.
Allstate life insurance offers the advantage of a discount for multiple policies, including homeowners insurance, renters insurance and car insurance. Allstate’s policy documents can be accessed electronically and through the Allstate mobile app after you have selected a policy.
Most Frequently Asked Questions about Allstate
What is Allstate’s Life Insurance Cover?
Allstate’s life insurance plans can provide lifetime coverage, or coverage for predetermined terms up to 30 years. It all depends on which type of policy the customer chooses. These policies offer benefits for various financial obligations and needs after the policyholder’s death.
What are the benefits of life insurance policies from Allstate?
Allstate insurance policies offer a tax-free death benefit for the beneficiary or beneficiaries. All Allstate policies, except for term life insurance, provide tax-advantaged cash accumulation.
What is the maximum time you can claim Allstate life insurance?
Life insurance companies must adhere to the state laws regarding when you can claim insurance benefits. For more information, contact Allstate directly or an agent.
What amount can you borrow from an Allstate life insurance policy to insure your family?
Your Allstate insurance policy can earn cash value if it has an investment feature. Allstate whole-life insurance, universal insurance, and variable life insurance are all eligible types. You can usually borrow up to the current cash value of your Allstate cash-value policy if you wish to get a loan.
Are all Allstate life insurance policies eligible to pay dividends?
Allstate is not considered a mutual company and policyholders cannot receive dividends.
Is Allstate’s insurance policy able to pay for suicide?
Life insurance companies are generally bound by state laws concerning the payment of suicidal deaths. In general, policyholders who hold policies for longer than two years are eligible to file a claim. Allstate policies can vary by state and policy type, so it is best to contact them directly.
Help is available if you’re contemplating suicide. The National Suicide Prevention Line can be reached at 800-273-8255 any time, day or night. They also have more than 150 crisis centres that provide support and information. If you are experiencing crisis, please reach out to them.
Can you get Allstate insurance life insurance if your cancer is advanced?
Underwriting can be a complicated process that involves many variables. An Allstate agent should be able to discuss life insurance options for people with certain medical conditions, such as cancer.
Is Allstate’s life insurance able to cover drug overdoses?
Life insurance companies are generally bound by state laws concerning the payment of drug overdoses. All policyholders with policies that have been in force for over two years are eligible to file a claim. Allstate policies can vary depending on the type of policy and state. For more information, contact Allstate or an agent.
