March, 25 2017

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Life insurance reviews, news and prices from the top companies

Allstate Life Insurance Review 2016

Allstate Life Insurance Review 2016

Author
  • Price
  • Underwriting
  • Financial Strength

Allstate Life Insurance Review 2016

Pros:  Financial Strength– Allstate Life Insurance Company has an A+ (Superior) rating from A.M. Best in 2016 (second highest of 16 possible ratings).  Size– Allstate is also a top 20 life insurance company in America as far as premiums and market share.  Name recognition– Allstate is a household name thanks to their successful advertising campaigns.  Accessibility– They employ local agents as well as a direct sales unit.  Website– Allstate has one of the most user-friendly websites of any life insurance company in America.  In addition, Allstate offers discounts when you bundle policies with your auto.

Cons:  Price- Allstate’s life insurance rates are more expensive compared to the industry in 2016. (See rate comparison chart below) 

Bottom Line:  Allstate is one of the most recognizable names in insurance toady.  With a superior financial rating and a top 20 market share, Allstate is an excellent insurance company.  Additionally, if combine your auto policy with your life insurance a discount will be applied.  However, when you compare their life insurance rates to companies with an equal financial rating without the multi-policy discount they are far behind.  We recommend that you receive multiple rate quotes before purchasing a policy with Allstate to ensure you are receiving a competitive rate.

 

About

Type: Public-Traded on NYSE as ALL

Issued by: Allstate Life Insurance Company

Founded: 1931

Website: www.allstate.com

Phone: (800) 255-7828

Address: 3100 Sanders Rd, Northbrook, IL 60062

A.M Best Rating 2016: A+ (Superior) Second highest of 16 possible ratings

Comdex Ranking: 85 out of 100

BBB Rating: A

Competitors: New York Life, Northwestern Mutual, Mass Mutual, John Hancock, Principal, State Farm, Allstate, Ohio National Life, AIG, Banner Life, Protective Life, Primerica, State Farm, USAA, Genworth Life, Pacific Life Insurance, North American Co, Lincoln National Life, ING-ReliaStar, Transamerica, SBLI, Prudential.

 

Allstate Life Insurance Term Price Comparison 2016

Sample monthly rate quotes a $500,000 term life insurance policy 20 year tern for a 40-year old male at each company’s best rating class:

Mutual of Omaha Life Insurance Company: $33.47

Protective Life Insurance Company: $33.03

AIG Life Insurance: $33.65

MetLife Life Insurance: $36.81

Nationwide Life Insurance: $40.05

Primerica Life Insurance: $47.98

Allstate Life Insurance: $90.20

 

As you can see Allstate’s rates on term life insurance 2016 are very expensive compared to the rest of the market.

 We want to hear from you.  Rate your experience with Allstate Life Insurance Company.  Tell others if you would recommend them to your friends and family in 2016.