Allstate Life Insurance Review [2024]
Navigate the diverse terrain of life insurance options with Allstate, a prominent provider offering affordable rates, including a rare 40-year term, while reviews shed light on potential areas for improvement in customer service.
Scott W. Johnson
Licensed Insurance Agent
Scott W Johnson is an independent insurance agent in California. Principal Broker and founder of Marindependent Insurance Services, Scott brings over 25 years of experience to his clients. His Five President’s Council awards prove he uses all he learned at Avocet, Sprint Nextel, and Farmers Insurance to the benefit of his clients. Scott quickly grasped the unique insurance requirements of his...
Licensed Insurance Agent
UPDATED: Apr 23, 2024
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Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Apr 23, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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Allstate Life Insurance
Average Monthly Rate For Good Drivers
$160A.M. Best Rating:
A+Complaint Level:
LowPros
- Wide range of policy options: Allstate offers a variety of life insurance policies, including term life, whole life, and universal life insurance.
- Affordable coverage: Allstate’s term life insurance policies are often competitively priced and can be a good option for those on a budget.
- Additional benefits: Allstate offers several optional riders, such as accidental death and dismemberment coverage and waiver of premium, that can be added to a policy for additional protection.
- Financial strength: Allstate has a strong financial rating and has been in business for over 80 years, which can provide peace of mind to policyholders.
Cons
- Limited online resources: Allstate’s website doesn’t provide much detailed information about its life insurance policies, which may make it difficult for consumers to fully understand their options.
- Higher premiums for older adults: Allstate’s life insurance premiums tend to be higher for older adults, which can make it less affordable for those looking for coverage later in life.
- Limited availability: Allstate life insurance is only available in certain states, which may limit its accessibility for some consumers.
- Complex policies: Some of Allstate’s life insurance policies, such as its universal life insurance, can be complex and difficult to understand, which may make it difficult for some consumers to choose the right policy for their needs.
- Allstate life insurance policy options include term, whole, and variable universal life insurance
- A.M. Best, Moody's, and other major ratings agencies all suggest that Allstate has excellent financial strength
- Allstate's life insurance rates are comparable to many industry competitors, especially for older adults
The Allstate Life Insurance Review discusses the diverse array of life insurance options offered by Allstate, encompassing term, whole, and variable universal policies, including a distinctive 40-year term option. While the rates are generally considered affordable, particularly for older adults, customer reviews point to potential areas for improvement in service.
The article highlights Allstate’s standout features, such as the extended term policy and its role as a comprehensive insurance provider beyond life insurance. Additionally, the piece provides insights into the company’s financial stability, customer satisfaction ratings, and the availability of discounts.
Ultimately, the review serves as a comprehensive guide for individuals navigating Allstate’s life insurance offerings, empowering them to make informed decisions based on their unique needs and preferences.
What You Should Know About allstate
Allstate is an insurance industry leader that offers an assortment of insurance products that go well beyond life insurance. Allstate offers insurance for cars, homes, condos, motorcycles, businesses, and more.
According to the Insurance Information Institute, Allstate is a market share leader in property, homeowners, and auto insurance. While Allstate isn’t a top contributor to the life insurance market, they still have an assortment of policies to choose from.
Of those, Allstate offers term, whole, and variable universal life insurance. Allstate’s term life insurance is rare since they offer term lengths up to 40 years, while most companies cap terms to 30 years.
Whole life insurance and variable universal life insurance are much different. Both policies, unlike term life insurance, accrue cash value. However, the amount and flexibility vary between whole and variable universal policies.
Overall, it’s helpful to know that Allstate offers different policy options for different people. That said, most people simply want the most affordable life insurance option.
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Does Allstate life insurance have good ratings?
Allstate insurance can be affordable regardless of the type of insurance. Sometimes, it’s helpful to have all of your insurance products in one place. Having only one bill can simplify your monthly expenses.
At any rate, there are a handful of reliable agencies that provide ratings on life insurance companies for financial strength and customer service. How does Allstate stack up?
Allstate’s life insurance ratings are highlighted below:
- A.M. Best: A+
- S&P: A-
- Fitch: A+
- Moody’s: A3
- BBB: A+
- NAIC Complaint Index: 2.7
Allstate’s life insurance ratings are strong and consistent for financial strength. Each of the leading life insurance rating agencies has reinforced Allstate’s financial strength.
If you’re investing a lot of money into your insurance, Allstate should be considered trustworthy. On the other hand, Allstate may have some customer service concerns.
The NAIC Complaint Index of 2.7 is nearly three times the industry average, although Allstate is a much larger company than many others. The Better Business Bureau shows that most complaints are resolved promptly.
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It’s difficult to isolate a large insurance company’s reviews based on one specific product. Most available life insurance reviews only include the top market share contributors.
J.D. Power is one of those companies and did not include Allstate in their life insurance study, but it did feature Allstate in their auto insurance study.
Allstate’s customer satisfaction ratings varied by state for auto insurance. In many places, Allstate’s customer satisfaction was below average, while it was exceptional in other places, such as Florida.
It might be worthwhile to review your local Allstate agent’s reviews to see if there are any additional concerns.
More About Allstate Life Insurance
As a whole, Allstate is a large insurance company that offers reasonable life insurance rates, strong policy options, and has good ratings for its financial strength.
Allstate does offer some other convenient features. For example, you can use your Allstate life insurance login on the company’s mobile app to adjust policy information, payment methods, and so on.
Filing a life insurance claim with Allstate should also be a straightforward process for your beneficiaries. They can visit your local agent, fill out the claim notification form, or call the Allstate life insurance phone number.
Each of these options has specific instructions and details listed directly on Allstate’s website. You can even track your claim progress online.
Read more:
allstate Insurance Coverage Options
Allstate offers a diverse range of life insurance coverage options to suit various needs and preferences. Explore the following choices to determine the best fit for your financial goals and family’s security:
- Term Life Insurance: Allstate’s term life insurance provides coverage for a specified period, offering a cost-effective solution with options ranging from standard terms to the unique 40-year term policy.
- Whole Life Insurance: For those seeking lifelong coverage with a cash value component, Allstate’s whole life insurance ensures protection and an accumulating cash value over time.
- Variable Universal Life Insurance: Offering flexibility and potential for cash value growth through investment options, Allstate’s variable universal life insurance allows policyholders to tailor their coverage and investment strategy.
- Riders and Customization: Customize your policy with various riders to enhance coverage. Options may include accelerated death benefits, accidental death, or additional coverage for specific needs.
- Comprehensive Insurance Solutions: Beyond life insurance, Allstate is a one-stop insurance provider, offering coverage for cars, homes, businesses, and more, allowing you to consolidate your insurance needs with a trusted provider.
Evaluate these coverage options with Allstate to secure the protection that aligns with your unique circumstances and financial objectives.
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allstate Insurance Rates Breakdown
| Driver Profile | Allstate Life | National Average |
|---|---|---|
| Clean Record | $160 | $119 |
| 1+ Ticket | $200 | $147 |
| 1+ Accident | $220 | $173 |
| DUI | $250 | $209 |
| Poor Credit | $275 | $205 |
*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver
Allstate’s life insurance rates will vary from person to person. This is because there are many life insurance pricing variables to consider — most notably age, gender, coverage amount, and health status.
You can expect higher rates for older adults, males, and those who are unhealthy. Additionally, permanent life insurance is much more expensive on a monthly basis.
Sample Allstate Life Insurance Rates for a 20-year, $250,000 Policy
| Age | Male, Non-smoker | Male, Smoker | Female, Non-smoker | Female, Smoker |
|---|---|---|---|---|
| 25 | $20.00 | $43.00 | $17.00 | $34.00 |
| 30 | $20.00 | $45.00 | $18.00 | $37.00 |
| 35 | $22.00 | $53.00 | $19.00 | $45.00 |
| 40 | $30.00 | $78.00 | $24.00 | $65.00 |
| 45 | $37.00 | $120.00 | $31.00 | $92.00 |
| 50 | $53.00 | $172.00 | $39.00 | $125.00 |
| 55 | $78.00 | $261.00 | $56.00 | $176.00 |
| 60 | $130.00 | $507.00 | $92.00 | $292.00 |
Above, you’ll see that Allstate’s life insurance rates can be fairly reasonable for young adults. However, those rates ascend significantly for older adults. With Allstate, smokers will pay more than double what non-smokers pay in many cases.
It’s common for life insurance companies to increase the life insurance premiums for smokers. Unfortunately, Allstate’s price increases are even more steep than usual.
Comparison of Allstate Life Insurance Rates vs. Top Life Insurance Companies for a 20-year, $250,000 Policy
| Age | Allstate | John Hancock | MassMutual | Prudential | State Farm |
|---|---|---|---|---|---|
| 25 | $20.00 | $14.21 | $15.00 | $18.16 | $23.27 |
| 30 | $20.00 | $14.79 | $15.23 | $19.03 | $24.59 |
| 35 | $22.00 | $16.86 | $15.88 | $19.25 | $26.09 |
| 40 | $30.00 | $22.09 | $20.68 | $21.00 | $33.72 |
| 45 | $37.00 | $31.54 | $32.40 | $23.63 | $45.47 |
| 50 | $53.00 | $49.24 | $47.63 | $31.28 | $69.59 |
| 55 | $78.00 | $78.24 | $73.73 | $42.88 | $105.72 |
| 60 | $130.00 | $116.99 | $125.73 | $66.28 | $183.79 |
| 65 | NA | $202.24 | $243.18 | $119.66 | $323.42 |
You can see above that Allstate has competitive rates when compared to other industry leaders. So while your Allstate life insurance quotes might exceed those from Prudential, they could be cheaper than State Farm’s.
Based on these sample rates, Allstate’s rates are more reasonable for older adults than for younger adults. This is a great example of the variance in life insurance pricing guidelines between companies.
At the end of the day, finding an affordable life insurance policy is a great place to start, but it isn’t the only important consideration. You’ll also want to know that your life insurance provider is safe and trustworthy.
allstate Discounts Available
| Discount | Allstate Life Company |
|---|---|
| Anti Theft | 11% |
| Good Student | 13% |
| Low Mileage | 19% |
| Paperless | 15% |
| Safe Driver | 10% |
| Senior Driver | 20% |
Allstate recognizes the importance of providing cost-effective coverage, and to enhance affordability, they offer several discounts. Here are some potential ways to save on your life insurance premiums:
- Multi-Policy Discount: Bundle your life insurance with other Allstate insurance products, such as auto or home insurance, to enjoy a multi-policy discount.
- Healthy Lifestyle Discounts: Maintain a healthy lifestyle, and you may be eligible for discounts. Non-smokers and individuals with good overall health habits can benefit from reduced rates.
- Safe Living Discounts: Implement safety measures in your life, such as having a secure home, and you might qualify for additional discounts.
- Loyalty Discounts: Stay with Allstate for the long term, and you could receive loyalty discounts as a reward for your continued commitment.
- Preferred Payment Discounts: Opt for preferred payment methods, like automatic withdrawals, to access potential discounts on your life insurance premiums.
Before finalizing your policy, inquire about these discounts and explore personalized options to maximize your savings with Allstate Life Insurance.
How allstate Ranks Among Providers
Allstate Life Insurance ranks among providers based on recent reviews, ratings, and rankings from reputable sources such as:
- J.D. Power: They often provide customer satisfaction ratings for various insurance providers.
- A.M. Best: This organization assesses the financial strength of insurance companies.
- Better Business Bureau (BBB): Reviews and complaints from customers can be found here.
- Consumer Reports: They may provide insights into customer satisfaction and overall performance.
- Insurance review websites: Platforms like Insure.com, NerdWallet, or Clearsurance often compile user reviews and ratings.
- State insurance departments: They may provide information on complaints and regulatory actions against insurance companies.
Rankings and reviews can vary based on individual needs and experiences. Always consider your specific requirements and circumstances when choosing an insurance provider.
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Frequently Asked Questions
What types of life insurance does Allstate offer?
Allstate provides a range of life insurance options, including term, whole, and variable universal life insurance, with the distinctive feature of offering a 40-year term policy.
Are Allstate’s life insurance rates affordable?
Generally, Allstate’s life insurance rates are considered affordable, especially for older adults, though individual circumstances and coverage needs may vary.
How does Allstate’s customer service reputation fare in reviews?
Reviews suggest that while Allstate is financially stable, there is room for improvement in customer service, highlighting areas where policyholders have expressed concerns.
What makes Allstate stand out in the life insurance market?
Allstate stands out by offering a 40-year term life insurance policy, a rarity in the market, providing customers with a unique and extended coverage option.
Can I find other insurance products besides life insurance with Allstate?
Yes, in addition to life insurance, Allstate is a comprehensive insurance provider offering coverage for cars, homes, condos, motorcycles, businesses, and more, making it a one-stop solution for various insurance needs.
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Scott W. Johnson
Licensed Insurance Agent
Scott W Johnson is an independent insurance agent in California. Principal Broker and founder of Marindependent Insurance Services, Scott brings over 25 years of experience to his clients. His Five President’s Council awards prove he uses all he learned at Avocet, Sprint Nextel, and Farmers Insurance to the benefit of his clients. Scott quickly grasped the unique insurance requirements of his...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
