Allstate offers a variety of insurance policies, including life, home, and auto. It also offers a variety of tools to help consumers compare options and find the right policy for their needs. Its website offers a coverage calculator and policy suggestion tool to assist customers in finding the perfect plan for them.
Allstate also offers a range of additional benefits that can be purchased as add-ons to certain policies. These include Scheduled Personal Property coverage, which covers expensive items like antiques and musical instruments. It can also cover expensive sports equipment and household furnishings. In addition, Allstate offers a Claim Rateguard feature that protects premiums from increase after filing one claim over a five-year period.
Allstate no longer underwrites its own life insurance policies, but it still sells whole life, universal life, and indexed universal life policies through independent agents. Its partner companies, such as Lincoln Financial, John Hancock, and Protective Life, administer these policies. Each of these companies has received an A+ financial strength rating from AM Best, meaning that they are well-positioned to pay claims and honor contractual obligations.
Term Life, Whole Life, and Universal Life Plans
Allstate has a variety of life insurance options that cover all areas of need. Its term life policy offers coverage for a set period of time, and its universal and variable universal policies have the potential to earn cash value. The company also has a variety of riders that can be added to your policy.
Term life is more affordable than other types of life insurance, but it may not offer enough protection to meet all of your family’s needs. It is a good option for new parents, people with outstanding debt, or those who are close to retirement age.
Whole and universal policies have the added benefit of a cash value component, which allows you to borrow against the money in the account. They also provide a level of flexibility that term life policies do not.
Ratings
Allstate has received high marks for financial strength and stability, customer satisfaction, and product and feature diversity. The company has an A+ rating with AM Best, an A from Standard & Poor’s, and an Aa3 from Moody’s. Its policies are backed by an A+ rating from the Better Business Bureau, and its rates are competitive. It also offers add-ons like HostAdvantage for Airbnb hosts, which protects homes against theft and damage.
The Allstate app lets policyholders manage their policies and file claims. It also monitors driving habits to provide usage-based discounts through Drivewise. However, its Google Play rating is low, and the company requires that you input personal information to get a quote, which is more invasive than other insurers.