Allstate Life Insurance Review 2020


Allstate Life Insurance Review by Top Quote Life Insurance
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They say that there are only two certainties in life: death and taxes. While we may not like to think about it, purchasing Allstate life insurance can be a good way to prepare for one of these certainties.

Life insurance is essential if you want to make sure your loved ones are well provided for when you’re gone. Unfortunately, due to financial constraints, just under half of middle-income Americans actually have life insurance.

This review of Allstate life insurance will help you determine whether their policy will meet your family’s needs. If you’re one of the many Americans with little or no life insurance, and you aren’t sure where to start with seeking coverage, you’ve come to the right place.

Allstate's Reputation

Allstate is one of the largest insurance companies in America, comprising around 5% of the market share. Most people are familiar with Allstate’s tagline, “You’re in good hands.” They may wonder, however, whether this is really true when it comes to the reliability of their insurance policies.Allstate Life Insurance Logo

There are three firms that evaluate the financial strength of various insurance companies: A.M. Best, Standard & Poor’s, and Moody’s Investors Service. Each of these firms has ranked Allstate life insurance in its 5th highest category or higher. In other words, they deem Allstate to have strong financial stability.

Because of the very nature of insurance, financial stability is important when choosing a policy. A company with strong financial standing will be more likely to have the available funds to pay out claims. Less stable companies may offer insurance, but be unable to afford to cover expensive claims.

Allstate Life Insurance Options

While it is good to know that an insurance company is financially solvent, it’s also important to know what services and options they provide. If the company does not have the coverage you need, it does not matter how stable they are.

Let’s take a closer look at the coverage available with Allstate life insurance, and which policy might be the right one for you.

Basic Term Life Insurance

Basic term life insurance is a policy that provides coverage for a specified period of time. “Term” refers to the number of years the policy covers. Allstate offers basic term life insurance in terms of 10, 20, and 30 years.

Term life insurance is typically the most affordable option, albeit a non-permanent one. That said, once the term expires, your policy can be renewed for either the same term or a different one.

Additionally, you can choose to convert term life insurance to whole life insurance, though this will increase your premiums.

If you choose a term Allstate life insurance policy with $150,000 or less of coverage, you can qualify for a no medical exam option.

Life insurance policies that require a medical exam will look at things like blood pressure, cholesterol, and glucose levels to determine your risk. If you have any abnormal readings, they may charge you more for your insurance.

Whole Life Insurance

Unlike term life insurance, whole life insurance covers you for your entire life. While you will need a medical exam to get this coverage, there are several benefits to consider.

With Allstate, your premiums for whole life insurance will stay the same throughout your life. So, even as you age, you will not see your premiums skyrocket.

Additionally, your life insurance will accrue a cash value over the course of your life. Once this value builds, you can access this cash for expenses like a down payment on a home, or retirement costs. Unlike other kinds of life insurance, you can actually reap the benefits of whole life insurance while you are alive.

Universal Life Insurance

Like whole life insurance, Allstate’s universal life insurance also provides coverage for your whole life. The difference is that the terms of a universal life insurance policy are more flexible.

As with whole life insurance, your universal life insurance plan can accumulate a cash value that you can tap into. But you will also have the option to change your coverage options throughout the duration of your policy. This way, if circumstances change, you can adjust your coverage.

Benefits of Choosing Allstate Life Insurance

Because Allstate is such a large insurance company, they offer many other types of insurance. These include homeowner’s insurance and motor vehicle insurance commonly referred to as property and casualty coverage.

So, if you already have another policy with Allstate, they may offer a discount if you choose to add another policy, like life insurance. You will also be able to work with the same broker, which can help you streamline your communications.

In some cases, you can even combine your payments with other policies you have, making it easier to manage your payments.

Drawbacks of Choosing Allstate Life Insurance

One of the biggest drawbacks of choosing a life insurance policy through Allstate is cost. Even with the discount for having your car and home insurance with the same company, Allstate’s monthly premiums are often much higher than those of independent life insurance companies.

For this reason, it’s always important to comparison shop.

Of course, keep in mind that you do get what you pay for. When it comes to insurance, cheaper is not always better. Make sure the plan you choose provides the coverage you need in the amount you need so your family will be taken care of.

Learn More About Life Insurance

With this guide, you will be better understand what is covered by Allstate life insurance. This will help you decide whether one of their plans is the right one for you.

If you still have more questions about life insurance, contact us. We will work with you to find the right coverage for your unique situation.

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Jeffrey Manola

Jeffrey Manola

Jeffrey Manola is an experienced life insurance agent and the founder of Top Quote Life Insurance. His mission when he created Top Quote Life Insurance was to provide online consumers searching for life insurance with the absolute best quotes for term life insurance, permanent life insurance, no medical exam life insurance, and burial insurance.

Not only does he strive to provide you with the best rates for your life insurance coverage, but he also wants you to be well informed about the different types of life insurance options that are available. You will also find a significant amount of valuable information on the multiple life insurance companies that can provide you with coverage.

Jeffrey Manola is licensed to provide expert advice and help aid in the purchasing process of life insurance products. He is licensed with the National Insurance Producer Registry (NIPR) in the following states:

AL: 790866 AR: 14358927 AZ: 14358927 CA: 0K29801 CO: 531038 CT: 002536246 DC: 3000281706 DE: 3000190912 FL: W383615 GA: 3089339 HI: 482421 IA: 14358927 ID: 646048 IL: 14358927 IN: 3100885 KS: 14358927 KY: DOI-986908 LA: 758187 MA: 2045330 MD: 3000011601 ME: PRN252004 MI: 14358927 MN: 40427014 MO: 8428106 MS: 10519253 NC: 14358927 ND: 14358927 NE: 14358927 NH: 2434852 NJ: 1562332 NM: 14358927 NV: 3299018 NY: LB-1484031 OH: 1117369 OK: 100293583 OR: 14358927 PA: 740709 RI: 3000183893 SC: 14358927 TN: 2383399 TX: 1969337 UT: 648983 VA: 987464 VT: 3426230 WA: 947010 WI: 14358927 WV: 14358927

Never hesitate to reach out to Jeffrey if you need help. Top Quote Life Insurance is more than just an online quoting agency. We want to help you save money, protect your future, and earn your trust (888) 777-7574.

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Life Insurance Rates?

Purchasing Life Insurance has never been easier

Or give us a call...888-777-7574