Allstate life insurance review is essential reading for anyone considering coverage from one of America’s most recognized insurance brands. Founded in 1931 as part of Sears, Roebuck and Co., Allstate has grown into the second-largest property and casualty insurer in the United States. The company serves approximately 20 million customers through more than 15,200 captive agents nationwide. However, there is a major detail most consumers miss.
- Allstate Overview and Financial Strength
- Allstate Life Insurance Review: Policy Options
- Allstate Life Insurance Rates and Underwriting
- Allstate Available Riders and Add-Ons
- Allstate Claims Process and Customer Service
- Pros and Cons of Allstate Life Insurance
- Who Is Allstate Life Insurance Best For?
- Frequently Asked Questions
Allstate sold its life insurance and annuity business in November 2021 to Everlake US Holdings, backed by Blackstone. As a result, Allstate no longer underwrites life insurance policies directly. Instead, Allstate agents now sell term and permanent life insurance products underwritten by Protective Life Insurance Company. This arrangement means consumers get Allstate’s local agent network paired with Protective Life’s financial backing. Understanding this structure is critical before purchasing a policy.
Allstate Overview and Financial Strength
Allstate is a publicly traded corporation listed on the NYSE under ticker ALL. The company is headquartered in Northbrook, Illinois. In 2024, Allstate reported total revenue of $64.1 billion and net income of $4.6 billion. Total assets reached $111.6 billion. These figures reflect Allstate’s property and casualty dominance. However, they no longer include life insurance underwriting.
For any allstate life insurance review, financial strength ratings require careful interpretation. The Allstate parent company holds an AM Best rating of A+ (Superior) for its property and casualty operations. Protective Life, which underwrites new Allstate life policies, also carries an AM Best A+ (Superior) rating. Everlake Life Insurance Company, formerly Allstate Life, holds an AM Best A (Excellent) rating after a downgrade from A+ in May 2024. This downgrade reflected the transition from Allstate corporate backing to private equity ownership.
| Rating Source | Score / Grade | Notes |
|---|---|---|
| AM Best (Allstate P&C) | A+ (Superior) | Affirmed August 2025, stable outlook |
| AM Best (Protective Life) | A+ (Superior) | Underwrites new Allstate life policies |
| AM Best (Everlake / legacy Allstate Life) | A (Excellent) | Downgraded from A+ in May 2024 |
| NAIC Complaint Ratio | Above Average | More complaints than expected for market share |
| JD Power Life Insurance Study | Not Ranked | No longer underwrites life policies |
| BBB | Not Accredited | Individual agent offices may carry separate ratings |
| Trustpilot | 1.3 / 5 | Based on 862 reviews across all product lines |
| U.S. News | 4.25 / 5 | 2025 Best Life Insurance Companies ranking |
Allstate Life Insurance Review: Policy Options
This allstate life insurance review covers every product type available through Allstate’s agent network. Term life insurance is sold under the Protective Life Classic Choice policy. Coverage amounts range from $100,000 to $50,000,000. Term lengths include 10, 15, 20, 25, 30, and 40 years. Issue ages run from 18 to 60. Monthly premiums start as low as $10 per month for healthy applicants. No-exam options are available for qualifying applicants.
Allstate agents also offer several permanent life insurance products through third-party carriers. These include whole life insurance, universal life insurance, and indexed universal life insurance. Variable universal life insurance is available in select states. However, Allstate does not appear to market a standalone final expense or burial insurance product. Availability of specific permanent products varies by state and issuing carrier. In most cases, applicants for permanent policies should expect an in-person medical exam.
For example, the 40-year term option is relatively uncommon in the industry. This gives younger buyers extended rate-lock protection well into their 60s. The $50 million coverage ceiling also makes Allstate a viable option for high-net-worth individuals. Typically, most competitors cap term coverage at $10 million or less.
Allstate Life Insurance Rates and Underwriting
Every allstate life insurance review should address pricing transparency. Since Allstate distributes Protective Life policies, rates reflect Protective’s underwriting and pricing structure. Sample quotes suggest approximately $15 per month for a $250,000, 20-year term policy for a healthy applicant. However, individual rates vary significantly based on age, health, tobacco use, and coverage amount.
Allstate’s underwriting approach offers flexibility. Full medical underwriting is available for the best rate classes. Simplified issue and no-exam options exist for applicants who prefer convenience. In most cases, skipping the medical exam results in higher premiums. The accelerated underwriting path may still require an exam depending on age, health history, and coverage amount requested.
Compared to industry averages, Allstate’s rates are competitive but rarely the cheapest available. Multiple independent review sites note that consumers can sometimes find lower rates by shopping directly with other carriers. As a result, comparing quotes from at least three providers is strongly recommended. Many families also bundle life and home insurance through one carrier, so you may want to compare home insurance at Home Insure Guide to see if bundling creates additional savings.
Allstate Available Riders and Add-Ons
A thorough allstate life insurance review must examine available riders. Riders customize a base policy to fit specific needs. Allstate’s term life policies through Protective Life include several valuable options.
| Rider | Description | Cost |
|---|---|---|
| Accelerated Terminal Illness | Access up to 60% of death benefit or $1 million if diagnosed with terminal illness (6 months or less life expectancy) | Included free |
| Waiver of Premium | Premiums waived if insured becomes totally disabled; 6-month elimination period | Additional cost |
| Accidental Death Benefit | Pays $1,000 to $250,000 extra if death occurs by covered accident; expires at age 65 | Additional cost |
| Living Benefits | Early access to death benefit for terminal, chronic, or critical illness diagnoses | Varies by rider |
| Child Life Insurance | Term coverage for children ages 15 days to 18 years; death benefit $1,000 to $25,000 | Additional cost |
The accelerated terminal illness rider is particularly noteworthy. It comes at no extra cost and provides access to a minimum of $15,000. The administration fee is capped at $300. However, accessing this benefit reduces the final death benefit paid to beneficiaries. For example, if a policyholder accesses $200,000 while living, that amount is subtracted from what heirs receive.
The child life insurance rider covers dependents without requiring a separate policy. This is typically more affordable than purchasing standalone juvenile coverage. The accidental death benefit rider must be purchased at policy issue and cannot be added later. It expires automatically when the insured reaches age 65.
Allstate Claims Process and Customer Service
Filing a life insurance claim through Allstate can be done in several ways. Policyholders or beneficiaries can file online through the My Account portal at allstate.com. Claims can also be submitted through the Allstate mobile app. Phone claims are handled by dedicated life insurance professionals. Local Allstate agents can also guide beneficiaries through the process in person.
This allstate life insurance review found that the fastest claim payments are typically processed within 24 to 48 hours. However, complex claims or those requiring additional documentation may take longer. The mobile app includes QuickFoto Claim functionality for submitting supporting documents. Allstate’s customer service is available by phone during standard business hours. Agent offices may offer extended or weekend hours depending on location.
One important consideration is that new policies are underwritten by Protective Life. As a result, the claims process for recently purchased policies may route through Protective rather than Allstate directly. Beneficiaries should confirm which company administers their specific policy. Bundling auto and life insurance through the same carrier can also simplify household management, so it may help to compare auto insurance rates at Car Cover Guide before deciding on a single-carrier approach.
Pros and Cons of Allstate Life Insurance
Pros:
- Massive agent network with over 15,200 local offices for face-to-face service
- High coverage ceiling up to $50 million suits high-net-worth planning needs
- Term lengths up to 40 years provide extended rate-lock protection uncommon in the industry
- No-exam term life options available for faster approval without blood work
- Protective Life underwriting carries an AM Best A+ (Superior) financial strength rating
- Free accelerated terminal illness rider included with term policies at no extra cost
Cons:
- Allstate no longer underwrites life insurance directly, acting as a distributor for Protective Life
- NAIC complaint ratio is above the national average, indicating more complaints than expected
- Not BBB accredited despite being the second-largest P&C insurer in the country
- Rates are competitive but rarely the lowest available compared to direct carriers
- Trustpilot rating of 1.3 out of 5 reflects widespread customer dissatisfaction across product lines
Who Is Allstate Life Insurance Best For?
Based on this allstate life insurance review, Allstate is best for consumers who value in-person guidance from a local agent. The extensive network of 15,200 offices nationwide makes it easy to sit down with someone face-to-face. This is especially helpful for first-time life insurance buyers who want hands-on support through the application process. Typically, online-only carriers cannot match this level of personal service.
Allstate is also a strong fit for buyers who want long-term rate protection. The 40-year term option is rare in the industry. A 25-year-old purchasing a 40-year term locks in rates until age 65. High-net-worth individuals benefit from coverage amounts up to $50 million. In most cases, estate planning clients need this level of flexibility.
However, this allstate life insurance review concludes that price-focused shoppers should compare quotes elsewhere. Since Allstate resells Protective Life policies, buyers may find identical or comparable coverage at lower rates from other distributors. Consumers who prioritize digital self-service may also prefer carriers with stronger app experiences and higher customer satisfaction scores. For those already insured through Allstate for auto or home, adding life insurance through the same agent creates convenience. But convenience alone should never drive a life insurance decision worth hundreds of thousands of dollars.
Frequently Asked Questions
Does Allstate still sell its own life insurance policies?
No. Allstate sold its life insurance and annuity business in November 2021. As a result, new life insurance policies sold through Allstate agents are underwritten by Protective Life Insurance Company. However, Allstate agents still guide customers through the application and claims process.
Is Allstate life insurance financially stable?
Yes. Protective Life, which underwrites new Allstate life policies, holds an AM Best A+ (Superior) rating. The Allstate parent company also maintains an A+ rating for its property and casualty operations. In most cases, this allstate life insurance review considers the financial backing to be strong and reliable.
Can I get Allstate life insurance without a medical exam?
Yes. Allstate offers no-exam term life insurance options for qualifying applicants. However, eligibility depends on age, health history, and coverage amount. For example, requesting very high coverage amounts may still trigger an exam requirement. Typically, no-exam policies carry slightly higher premiums than fully underwritten alternatives.
How does an allstate life insurance review compare to other major carriers?
Allstate’s brand recognition and agent network are among the strongest in the industry. However, its rates are not consistently the lowest. The NAIC complaint ratio is above average. As a result, consumers should obtain quotes from multiple carriers before making a final decision. Direct comparison shopping typically saves 15 to 30 percent on annual premiums.
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Official Sources & Resources
For verified information on life insurance ratings and regulations:
- AM Best (Financial Strength Ratings): ambest.com
- NAIC (Complaint Ratios): naic.org
- ACLI (American Council of Life Insurers): acli.com
- Insurance Information Institute: iii.org
- J.D. Power (Customer Satisfaction): jdpower.com
Content last reviewed April 2026. If you notice any outdated information, please contact us.