Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com.

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Dec 20, 2021

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The Lowdown

  • Allstate life insurance policy options include term, whole, and variable universal life insurance
  • A.M. Best, Moody’s, and other major ratings agencies all suggest that Allstate has excellent financial strength
  • Allstate’s life insurance rates are comparable to many industry competitors, especially for older adults

If you’re shopping for affordable term life insurance rates, Allstate life insurance could be a strong option. Allstate is a reputable company with unique term life insurance options.

It’s challenging to determine whether a life insurance company is good or bad. We’ll simplify the matter with Allstate life insurance by breaking down its rates, ratings, reviews, and life insurance policy options.

In a few short sections, we’ll break down everything there is to know about Allstate life insurance. Until then, enter your ZIP code to get free quotes from the leading life insurance companies in your area.

Is Allstate life insurance worth it?

Allstate is an insurance industry leader that offers an assortment of insurance products that go well beyond life insurance. Allstate offers insurance for cars, homes, condos, motorcycles, businesses, and more.

According to the Insurance Information Institute, Allstate is a market share leader in property, homeowners, and auto insurance. While Allstate isn’t a top contributor to the life insurance market, they still have an assortment of policies to choose from.

Of those, Allstate offers term, whole, and variable universal life insurance. Allstate’s term life insurance is rare since they offer term lengths up to 40 years, while most companies cap terms to 30 years.

Whole life insurance and variable universal life insurance are much different. Both policies, unlike term life insurance, accrue cash value. However, the amount and flexibility vary between whole and variable universal policies.

Overall, it’s helpful to know that Allstate offers different policy options for different people. That said, most people simply want the most affordable life insurance option.

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How much does an Allstate life insurance policy cost?

Allstate’s life insurance rates will vary from person to person. This is because there are many life insurance pricing variables to consider — most notably age, gender, coverage amount, and health status.

You can expect higher rates for older adults, males, and those who are unhealthy. Additionally, permanent life insurance is much more expensive on a monthly basis.

Sample Allstate Life Insurance Rates for a 20-year, $250,000 Policy
AgeMale, Non-smokerMale, SmokerFemale, Non-smokerFemale, Smoker
25$20.00$43.00$17.00$34.00
30$20.00$45.00$18.00$37.00
35$22.00$53.00$19.00$45.00
40$30.00$78.00$24.00$65.00
45$37.00$120.00$31.00$92.00
50$53.00$172.00$39.00$125.00
55$78.00$261.00$56.00$176.00
60$130.00$507.00$92.00$292.00
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Above, you’ll see that Allstate’s life insurance rates can be fairly reasonable for young adults. However, those rates ascend significantly for older adults. With Allstate, smokers will pay more than double what non-smokers pay in many cases.

It’s common for life insurance companies to increase the life insurance premiums for smokers. Unfortunately, Allstate’s price increases are even more steep than usual.

Comparison of Allstate Life Insurance Rates vs. Top Life Insurance Companies for a 20-year, $250,000 Policy
AgeAllstateJohn HancockMassMutualPrudentialState Farm
25$20.00$14.21$15.00$18.16$23.27
30$20.00$14.79$15.23$19.03$24.59
35$22.00$16.86$15.88$19.25$26.09
40$30.00$22.09$20.68$21.00$33.72
45$37.00$31.54$32.40$23.63$45.47
50$53.00$49.24$47.63$31.28$69.59
55$78.00$78.24$73.73$42.88$105.72
60$130.00$116.99$125.73$66.28$183.79
65NA$202.24$243.18$119.66$323.42
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You can see above that Allstate has competitive rates when compared to other industry leaders. So while your Allstate life insurance quotes might exceed those from Prudential, they could be cheaper than State Farm’s.

Based on these sample rates, Allstate’s rates are more reasonable for older adults than for younger adults. This is a great example of the variance in life insurance pricing guidelines between companies.

At the end of the day, finding an affordable life insurance policy is a great place to start, but it isn’t the only important consideration. You’ll also want to know that your life insurance provider is safe and trustworthy.

Does Allstate life insurance have good ratings?

Allstate insurance can be affordable regardless of the type of insurance. Sometimes, it’s helpful to have all of your insurance products in one place. Having only one bill can simplify your monthly expenses.

At any rate, there are a handful of reliable agencies that provide ratings on life insurance companies for financial strength and customer service. How does Allstate stack up?

Allstate’s life insurance ratings are highlighted below:

  • A.M. Best: A+
  • S&P: A-
  • Fitch: A+
  • Moody’s: A3
  • BBB: A+
  • NAIC Complaint Index: 2.7

Allstate’s life insurance ratings are strong and consistent for financial strength. Each of the leading life insurance rating agencies has reinforced Allstate’s financial strength.

If you’re investing a lot of money into your insurance, Allstate should be considered trustworthy. On the other hand, Allstate may have some customer service concerns.

The NAIC Complaint Index of 2.7 is nearly three times the industry average, although Allstate is a much larger company than many others. The Better Business Bureau shows that most complaints are resolved promptly.

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It’s difficult to isolate a large insurance company’s reviews based on one specific product. Most available life insurance reviews only include the top market share contributors.

J.D. Power is one of those companies and did not include Allstate in their life insurance study, but it did feature Allstate in their auto insurance study.

Allstate’s customer satisfaction ratings varied by state for auto insurance. In many places, Allstate’s customer satisfaction was below average, while it was exceptional in other places, such as Florida.

It might be worthwhile to review your local Allstate agent’s reviews to see if there are any additional concerns.

More About Allstate Life Insurance

As a whole, Allstate is a large insurance company that offers reasonable life insurance rates, strong policy options, and has good ratings for its financial strength.

Allstate does offer some other convenient features. For example, you can use your Allstate life insurance login on the company’s mobile app to adjust policy information, payment methods, and so on.

Filing a life insurance claim with Allstate should also be a straightforward process for your beneficiaries. They can visit your local agent, fill out the claim notification form, or call the Allstate life insurance phone number.

Each of these options has specific instructions and details listed directly on Allstate’s website. You can even track your claim progress online.

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Allstate Life Insurance: The Bottom Line

Allstate is a popular insurance company that offers many different insurance products. Though they aren’t known for their life insurance products, they have strong options with reasonable rates.

If you’re shopping for life insurance, it could be worthwhile to consider an Allstate life insurance policy. Get ahead today by entering your ZIP code to get free quotes from the cheapest life insurance companies near you.

Allstate Life Insurance Review [2022] Additional Information

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Allstate Life Insurance Review [2022] Insurance Quotes

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