ALLSTATE LIFE INSURANCE
- Rated 3.5 stars out of 5 by NerdWallet.
- More complaints to state regulators about life insurance than expected for a company of its size.
Allstate is best known for its auto and homeowners insurance, but it also sells life insurance. Allstate has a range of life insurance options with discounts available for auto and homeowners insurance policyholders.
Allstate life insurance
Allstate life insurance earned 3.5 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account complaint data from the National Association of Insurance Commissioners and financial strength ratings.
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Allstate life insurance policies
Allstate offers term, whole, universal and variable universal life insurance policies.
Term life insurance from Allstate comes in two different versions:
- Allstate TrueFit coverage is available in amounts between $200,000 and $1 million, though this may vary by your age and state. Flexible policy terms can span any duration between 10 and 30 years. That means, for example, that you can get a 23-year policy if you want.
- Allstate Basic Term is designed for buyers who need something simple. The policies are all 15 years long and come with $50,000, $100,000 or $150,000 in coverage.
Allstate’s whole, universal and variable universal products are all cash value life insurance policies, which offer a lifetime of coverage and grow in value over time.
Complaints about Allstate life insurance
Over three years, Allstate has drawn more complaints to state regulators than expected for a company of its size for life insurance, according to NerdWallet’s analysis of data from the National Association of Insurance Commissioners.
More about Allstate
Allstate offers a wide range of other insurance products including auto, home and renters insurance. For details, see our reviews:
- Allstate auto insurance review.
- Allstate homeowners insurance review.
- Allstate renters insurance review.
The company offers discounts for bundling policies together, so existing customers may find extra savings.
| Pros | Cons |
|---|---|
| Very flexible term lengths. | More complaints to state regulators than expected for life insurance, relative to the size of the company. |
| Potential discounts for bundling life insurance with other Allstate policies. |
Insurer complaints methodology
NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2016-2018. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. Ratios are determined separately for auto, home (including renters and condo) and life insurance.Methodology: Life insurance ratings
NerdWallet’s life insurance ratings are based on weighted averages of financial strength ratings, which indicate a company’s ability to pay future claims, and complaint index scores from the National Association of Insurance Commissioners for individual life insurance. To calculate each insurer’s rating, we adjusted the scores to a curved 5-point scale.These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews.
