Allstate offers term, whole, universal, and variable universal life insurance. Its term policies stand out because of the flexibility when choosing a term length and the ability to opt for a monthly death benefit payout instead of a lump sum payout.
Allstate is a reliable insurer because it has many years of industry experience and has received high financial strength ratings. With these aspects, you can be confident when buying a life insurance policy from Allstate.
Allstate has received high financial strength ratings from A.M. Best. Competitive life insurers all have high ratings because they indicate an insurer's financial stability.
Choosing a financially stable insurer is important because you want to be as sure as possible that the insurance company will be able to pay when you file a claim.
Allstate offers a range of life insurance policies, including term, whole, universal, and variable universal policies. This selection makes it easy to find a policy that will meet your needs.
With its term policies, Allstate allows flexible term lengths between 10 and 30 years. This flexibility makes Allstate stand out from other insurers because term lengths are typically in five or ten year increments. Allstate also offers policies with the option for a monthly death benefit payout instead of a lump sum payout. This option is rare for the industry.
Allstate's whole, universal, and variable universal policies are typical for the life insurance industry.
These permanent life insurance policies build cash value. Whole life insurance grows at a guaranteed rate. Universal and variable universal life insurance offer more options for investing the policy's cash value.
Whole life insurance policies also have level premiums and a level death benefit. Universal life policies offer more flexibility in adjusting coverage levels as your needs change.
With Allstate's Whole Life Advantage® Policy, you can earn Excess Credits. You can use these credits several ways, including to buy additional coverage, reduce premium payments, or receive the credit in cash.
Allstate offers an online life insurance coverage calculator and a LIFETREK questionnaire. With the online coverage calculator, you can gauge how much life insurance coverage you need.
The LIFETREK questionnaire helps you determine whether or not you need a life insurance policy and what type may be a good fit. This questionnaire is available in Spanish and English.
Allstate simplifies the life insurance purchase process into three steps: application, medical exam, and buying (reviewing and signing) the policy. Although buying life insurance is not an instantaneous process, understanding these steps makes it less daunting.
While a term life insurance quote can be accessed online, you'll need to work with an agent for a quote on a permanent life insurance policy. Fortunately, Allstate has local agents throughout the United States, so it should be easy to find an agent in your area from Allstate's website.
Although Allstate makes a reasonable amount of policy details available online, it doesn't offer many details about unique policy features or available riders. Some competitors offer this level of detail online, which makes it easier to assess whether a policy will meet your specific needs.
Offering more policy details generally would make preliminary research easier. However, this lack of detail isn't a reason not to choose Allstate. If you're interested in learning more about policy features, you'll need to work with an Allstate agent directly.
Allstate's policies require a medical exam as part of underwriting. While this is a common requirement for fully underwritten policies, other companies offer policies with simplified underwriting that just require answers to a health questionnaire.
If you want a faster application and approval process, you may want to consider another insurance provider.
Best Company has received a limited number of Allstate life insurance reviews. Assessments of the customer experience are not currently available. However, it's promising that most of Allstate's reviews are positive.
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