Facts and Overview of AllState Insurance Company you need to know


Though Allstate was founded in 1931, Allstate’s slogan, “You’re in good hands with Allstate,” didn’t come about until 1950. Allstate Insurance Company was founded as a division of catalog company and retail chain Sears and added other types of insurance over the years to support its growing customer base. In 1993, Sears sold off its stake in Allstate, and the company went public. Allstate offers life insurance from third-party providers In addition to auto and life insurance, Allstate’s insurance agency offerings and various protection products include home insurance, renters insurance, condo, and landlord insurance, motorcycle and ATV insurance, and business insurance. Today, Allstate is one of the biggest auto insurance companies in the country, though, for this overview, we will be focusing on Allstate’s life insurance products.

Allstate Overview

Fast Facts:

  • Offers term, whole, universal, and variable universal life insurance plans
  • Whole life policies pay dividends to policyholders
  • Offers a variety of riders for additional coverage
  • Available to customers up to age 80

Allstate offers life insurance policies for term, whole, universal, and variable universal life insurance with coverage starting at $50,000 for a term and universal policies and $10,000 for whole life plans. Term life policies start with minimum terms of just 10 years, but offer the flexibility to convert to a longer-term or even permanent coverage should your personal needs change. With a variety of available riders, you could further customize and enhance your coverage needs.

While Allstate’s term policies do not build a cash value, the whole, universal and variable universal life plans do. In fact, with the variable universal policies, there are no limits on how much cash value you can gain or lose, which could improve the financial strength of your retirement portfolio. With whole life plans, you also could receive dividends that could be applied to future premiums, add to your cash value, or buy additional coverage. Although you can get an online estimate for the cost of term insurance, you’ll need to speak with an Allstate agent to get exact pricing for a term as well as whole, universal, and variable universal life insurance policies.

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