Allstate Life Insurance Review 2020


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Andrew Marder


  • Rated 3.5 out of 5 stars by TBEN.
  • More complaints to state regulators about life insurance than expected for a company of its size.

Buying life insurance during the pandemic? Be aware that insurers may have changed their policy products and applications. For the latest information on how to deal with financial stress during this emergency, check out TBEN’s financial guide to COVID-19.

Allstate is best known for its auto and home insurance, but it also sells life insurance. Allstate offers a range of life insurance options with discounts available to auto and home insurance policyholders.

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Allstate Life Insurance

Allstate Life Insurance received 3.5 out of 5 stars for its overall performance. TBEN ratings are determined by our editorial team. The scoring formula takes into account data relating to complaints from the National Association of Insurance Commissioners and financial strength ratings from AM Best.

” MORE: Best life insurance companies for 2020

Allstate life insurance policies

Allstate offers term, whole, universal and variable universal life insurance policies.

Allstate term life insurance comes in two different versions:

  • Allstate TrueFit coverage is available in amounts between $ 200,000 and $ 1 million, although this may vary depending on your age and condition. Flexible policy terms can span any term between 10 and 30 years. This means, for example, that you can get a 23 year policy if you want.
  • Allstate base term is designed for buyers who need something simple. The policies are all for 15 years and come with coverage of $ 50,000, $ 100,000 or $ 150,000.
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Allstate’s comprehensive, universal and variable universal products are all cash value life insurance policies that provide lifetime coverage and increase in value over time.

Complaints about Allstate life insurance

In three years, Allstate has drawn more complaints from state regulators than expected for a life insurance company its size, according to TBEN’s analysis of data from the National Association of Commissioners. insurance.

Learn more about Allstate

Allstate offers a wide variety of other insurance products, including auto, home and tenant insurance. For more details, see our reviews:

The company offers discounts for bundling policies, so existing customers can find additional savings.

Methodology: complaints from insurers

TBEN reviewed complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2016-2018. To assess how insurers stack up against each other, the NAIC annually calculates a complaints index for each subsidiary, measuring its share of total complaints relative to its size, or the share of total premiums in the industry. . To assess a company’s complaint history, TBEN calculated a similar index for each insurer, weighted by each subsidiary’s market share, over the three-year period. The ratios are determined separately for auto, home (including renters and condominiums) and life insurance.

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Methodology: life insurance ratings

TBEN life insurance ratings are based on weighted averages of the National Association of Insurance Commissioners for Individual Life Insurance Complaint Index scores and AM Best’s financial strength ratings, that indicate a company’s ability to pay future claims. To calculate each insurer’s rating, we adjusted the NAIC and AM Best scores on a 5-point curved scale.

These ratings are a guide, but we encourage you to shop around and compare multiple insurance quotes to find the best rate for you. TBEN does not receive any compensation for reviews.


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