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Allstate Life Insurance Review 2024
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Assistant Assigning Editor | Life insurance, disability insurance, health care
Assistant Assigning Editor | Home insurance, renters insurance, pet insurance
Allstate
3.0
on Nerdwallet
Financial strength ratingThese ratings indicate an insurer’s ability to pay future claims.
Online purchaseThis indicates whether the company offers a way to apply for and purchase policies entirely online.
NAIC complaintsRatings are based on complaints to state regulators relative to a company’s size, according to three years’ worth of data from the National Association of Insurance Commissioners. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.
Policies offeredTerm policies last a set number of years, while permanent policies typically last a lifetime. No-exam policies don’t require a medical exam.
Pros
- Very flexible term lengths.
- Potential discounts for bundling life insurance with other Allstate policies.
Cons
- Policies aren’t available in every state.
on Nerdwallet
Allstate
3.0
Financial strength ratingThese ratings indicate an insurer’s ability to pay future claims.
Online purchaseThis indicates whether the company offers a way to apply for and purchase policies entirely online.
NAIC complaintsRatings are based on complaints to state regulators relative to a company’s size, according to three years’ worth of data from the National Association of Insurance Commissioners. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.
Policies offeredTerm policies last a set number of years, while permanent policies typically last a lifetime. No-exam policies don’t require a medical exam.
Pros
- Very flexible term lengths.
- Potential discounts for bundling life insurance with other Allstate policies.
Cons
- Policies aren’t available in every state.
In our life insurance reviews, our editorial team considers the customer and the insurer. These are some of the factors we take into account:
Policies offered. There are many types of life insurance on the market, and they fall into three key categories:
Term life insurance offers temporary coverage and a guaranteed payout if the policyholder dies during the term.
Permanent life insurance typically lasts a lifetime and builds cash value that can be borrowed against in the future.
No-exam life insurance issues coverage without the need for a medical exam.
Financial strength. We use AM Best ratings to confirm an insurer’s long-term financial stability and ability to pay claims. For life insurance, NerdWallet typically recommends considering insurers with ratings of A- or higher. Here’s the breakdown:
Exceptional: A+, A++.
Strong: A-, A.
Moderate: B, B+.
Complaints. These ratings are based on complaints to state regulators relative to a company’s size, according to three years’ worth of data from the National Association of Insurance Commissioners. The best life insurance companies have fewer than the expected number of complaints.
Buy online. This indicates whether an insurer allows you to apply for and buy a policy completely online.
Dive deeper: Ratings methodology for life insurance
Allstate's agents offer third-party term and permanent life insurance policies from the company’s partner carriers.
» MORE: Compare life insurance quotes
Allstate life insurance
3.0
NerdWallet ratingAllstate earned 3 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account consumer experience, complaint data from the National Association of Insurance Commissioners and financial strength ratings.
» MORE: Best life insurance companies
Allstate life insurance policies
Term life insurance. Allstate sells term life insurance policies nationwide. Through the company's network of agents, you can purchase a policy from one of Allstate’s partner insurers. Policies from John Hancock, Protective Life, Foresters Financial and Lincoln Financial are available in all states except New York. In New York, you can choose from Corebridge Financial and Protective Life.
The amount of coverage you can buy depends on the insurer issuing the policy, though you won’t need to take a life insurance medical exam in many cases.
Permanent life insurance. If you’re in the market for a permanent policy, you can purchase whole life insurance, universal life insurance, indexed universal life insurance and variable universal life insurance through one of Allstate’s agents.
Once purchased, policies are managed by the issuing partner. For example, if you buy a Protective Life term life policy from Allstate, your policy will be managed by Protective Life. And if you buy an Allstate term life insurance policy, Allstate will be your point of contact.
Allstate customer complaints and satisfaction
Over three years, Allstate has drawn far more than the expected number of complaints to state regulators for a company of its size for life insurance, according to a NerdWallet analysis of data from the National Association of Insurance Commissioners.
More about Allstate
Life insurance aside, Allstate offers a range of property and casualty insurance products. For details, see our reviews:
The company offers discounts for bundling policies together, so existing customers may find extra savings.
How to contact Allstate
Allstate can be reached by:
Phone: Call 800-726-6033, available 24/7.
Email: Fill out the form on Allstate’s website.
Live chat: Not available.
Life insurance buying guide
Before you start comparing companies, choose the type of life insurance you want, such as term or whole life. Decide which life insurance riders, if any, you want the policy to include. Calculate how much life insurance you need and how long you want the coverage to last. Check that the insurers you’re considering offer the coverage you’re looking for.
When comparing rates, be sure the quotes are for the same amount of coverage over the same period of time. It’s also important to make sure the policy’s medical requirements match your needs. For example, if you want to skip the life insurance medical exam but don’t mind answering health questions, confirm that the application process for each policy you're comparing aligns with that.
Price may not be the biggest driver behind your decision to buy. Look at the number of consumer complaints each company receives, as high numbers can be a red flag about the quality of service.
For more guidance, see our life insurance buying guide.
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