Allstate insurance is a highly-rated insurance company offering various insurance and financial products since its founding in 1931.
While Allstate no longer offers life insurance, it offers quotes from some of the best life insurance companies to help you find the coverage you need.
Get Quotes
854
A+
Pros
Cons
- Term, whole, universal and variable life
Compare Allstate Life Insurance
Not Rated
A
Pros
Cons
762
A
$19 for males and $16 for females per month
N/A
Up to $2 million
Pros
Cons
N/A
A+ (Superior)
Pros
Cons
- Term life and whole life
Allstate Life Insurance Overview
While Allstate used to provide life insurance, it no longer underwrites life insurance policies after selling its life insurance and annuity business to Blackstone in 2021. However, the company still offers life insurance alongside partners such as Protective Life, Lincoln Financial, and John Hancock.
In short, you can buy life insurance through Allstate, but another highly-rated insurance company will provide coverage and pay out benefits if you file a claim. In the case of permanent life insurance that builds cash value, the insurance partner underwriting your policy will also oversee the payment of dividends.
Allstate Life Insurance Plans and Coverage
While Allstate does not sell its own insurance, you can use Allstate to obtain quotes for Protective Life's term life insurance.
Term life insurance provides coverage for a specific period, during which consumers pay regular premiums in exchange for a death benefit. When a term life insurance policy ends, coverage is suspended. Some companies allow insured parties to convert term policies to a whole or permanent life policy at specific mile markers. However, the insured would have to complete a new medical exam and application and qualify just as they would for a new life insurance policy.
Allstate's quote tool allows customers to obtain quotes for policies with 10, 20, or 30 terms and death benefits between $200,000 and $1 million. It's worth noting that Protective Life has a greater range of death benefits and terms available when you obtain quotes from its website directly.
Allstate Life Insurance Cost
While Allstate does not offer its own term life insurance, it has a quote tool that allows you to obtain quotes for its partner, Protective Life. We used this tool to obtain the following quotes for a 20-year policy with a $500,000 benefit:
| Age | Sex | Allstate Quotes | Average Cost |
| 20 | Female | $15 | $23 |
| 20 | Male | $18 | $30 |
| 30 | Female | $16 | $23 |
| 30 | Male | $19 | $29 |
| 40 | Female | $24 | $35 |
| 40 | Male | $28 | $43 |
| 50 | Female | $54 | $78 |
| 50 | Male | $69 | $102 |
| 60 | Female | $140 | $194 |
| 60 | Male | $200 | $269 |
Once customers obtain a quote, they'll be prompted to contact one of Allstate's insurance agents. You can use Allstate's agent search function to identify an agent near you.
How to File Claims with Allstate Life Insurance
Allstate offers customers several ways to file a claim, including through its website at Allstate.com. Once you're an Allstate customer, you can sign up for an online account and access a dashboard that includes details on your insurance policies.
Allstate life insurance customers can also file a claim by calling 1-800-366-3495. In addition, claimants can fill out and email a life insurance claim form to LifeClaimReports@allstate.com.
Allstate customers can reach customer service around the clock at 1-800-ALLSTATE. Meanwhile, general life insurance inquiries should go to 1-800-366-1411.
Allstate Life Insurance Customer Reviews and Ratings
Customer reviews for Allstate are overwhelmingly negative, receiving an average of 1.2 stars out of five on Trustpilot and 1.13 stars on its Better Business Bureau page. Negative reviews primarily pertain to Allstate's auto insurance, mentioning long claim processing times and delays in payouts.
The National Association of Insurance Commissioners' complaint index rates a company based on how many complaints it receives against its share of the market. The average NAIC complaint index score is 1.00, meaning if a company scores below 1.00, it has fewer complaints than expected for a company of its size. If the company scores above 1.00, it has more complaints than the industry average. In line with its average rating, Allstate scored 3.54 on the index, indicating that it has far more complaints than expected.
Alternatives to Allstate Life Insurance
Allstate Life Insurance vs. State Farm Life Insurance
If you're looking for an insurance company with high marks from third-party ranking agencies, State Farm Life Insurance earned the top spot in JD Power's 2023 U.S. Individual Life Insurance Study with 843 out of 1,000 possible points. State Farm offers a range of coverage options, including term life, whole life, and universal life insurance.
Both insurance companies work with captive agents (insurance agents who only quote for one company). So, if you are dissatisfied with the quotes you receive or are denied, you will need to find a new insurance agent to quote other options. However, between Allstate and State Farm, the clear choice is State Farm.
Read our State Farm life insurance review.
Allstate Life Insurance vs. Northwestern Mutual Life Insurance
Northwestern Mutual Life Insurance provides term life insurance, whole life, universal life, and universal variable life. Unlike Allstate, Northwestern Mutual underwrites its policies. Northwestern Mutual earned a 790 out of 1,000 possible points in JD Power's 2023 U.S. Individual Life Insurance Study, which was also the average score among the 22 companies surveyed. The company has also received an A++ rating with AM Best in financial stability.
Northwestern Mutual is conservative in its underwriting process. It does not take on high-risk life insurance applicants or offer specialized programs. However, its policies can be robust investment tools for retirement and beyond. Plan strengths apply to accelerated death benefits in the event of severe illness or injury, along with options for a healthy senior retiring.
Read our Northwestern life insurance review.
Why You Should Trust Us: How We Reviewed Allstate Life Insurance
To create this review, we compared Allstate policies and coverage options to life insurance policies from a wide range of insurers. We review products on carrier websites to explore riders and exclusions. We also use customer review websites and other online resources. When all this is done, we rank companies based only on the facts we gather.
To find the right life insurance coverage for your needs, you should shop with a licensed insurance agent. Agents can customize a plan with the appropriate riders and limits while evaluating the likelihood of approval. Unfortunately, if you receive a denial from any life insurance company, insurers report it, which increases your chance of being denied again. So while Business Insider offers a comprehensive overview of the life insurance options offered by different companies, an insurance agent can guide you in finding the right life policy for your needs and goals.
Read more about how Business Insider rates life insurance.
FAQs
Is Allstate getting out of life insurance?
Yes, Allstate stopped issuing its own life insurance after selling its life insurance branch to Blackrock.
Does Allstate offer whole or universal life insurance?
No, Allstate does not offer whole or universal life insurance.
Who underwrites Allstate life insurance policies?
Allstate life insurance policies are underwritten by partner companies like Protective Life, Lincoln Financial, and John Hancock.
