NORTHBROOK, Ill., July 30, 2013 /PRNewswire/ -- Allstate and industry consumer data1 show that about four out of 10 Americans don't have life insurance – yet experts believe many of these people should invest in a life insurance policy to protect their families from significant financial hardship if they die.
"Our goal is to make it easier for Allstate customers to determine their insurance needs and which policy is right for them," said Don Civgin, president and chief executive officer, Allstate Financial. "Allstate agents and exclusive financial specialists tell us there's a growing demand for life insurance as part of a family's long-term financial plan. That's why we've expanded our life insurance offerings to include a new permanent insurance policy, Allstate Whole Life Advantage(SM)."
Allstate Whole Life Advantage features include:
- A death benefit that never goes down. As long as premiums are paid2, customers are guaranteed to receive the death benefit.
- Cash value that is guaranteed to go up regardless of market conditions.2 The cash value accumulates in an Allstate Whole Life Advantage policy. For this reason, whole life insurance often is part of a family's long-term financial plan.
- Premium payments that never go up. In fact, premiums may decrease and may not be required under certain conditions.
In addition, this product includes the option for customers to earn more potential value through excess credits, similar to dividends. Those excess credits can 1) be used to purchase paid-up additions, 2) reduce premium payments, 3) provide cash back, 4) accumulate at interest, or 5) pay down policy debt. Allstate Whole Life Advantage will be offered initially in 47 states.
General information about life insurance can be found online at www.myallstatefinancial.com/life-insurance.aspx.
The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer, serving approximately 16 million households through its Allstate, Encompass, Esurance and Answer Financial brand names and Allstate Financial business segment. Allstate branded insurance products (auto, home, life and retirement) and services are offered through Allstate agencies, independent agencies, and Allstate exclusive financial representatives, as well as via www.allstate.com, www.allstate.com/financial and 1-800 Allstate®, and are widely known through the slogan "You're In Good Hands With Allstate®." As part of Allstate's commitment to strengthen local communities, The Allstate Foundation, Allstate employees, agency owners and the corporation provided $29 million in 2012 to thousands of nonprofit organizations and important causes across the United States.
Whole Life Advantage is a whole life insurance policy issued by Allstate Life Insurance Company, Northbrook, IL, a wholly-owned subsidiary of Allstate Insurance Company. Whole Life Advantage is available in most states with contract series LU11040 or ICC12A1 (ICC12A1 in Oregon), amendatory endorsement LU11006 or LU10930 (LU10930 in Oregon) and rider series LU11041 or ICC12A2 (ICC12A2 in Oregon), LU11042 or ICC12A3 (ICC12A3 in Oregon), LU11043 or ICC12A4 (ICC12A4 in Oregon), LU11044 or ICC12A5 (ICC12A5 in Oregon), LU11045 or ICC12A6 (ICC12A6 in Oregon), LU11046 or ICC12A7 (ICC12A7 in Oregon), LU11048 or ICC12A9 (ICC12A9 in Oregon), and LU11051 or ICC12A11 (ICC12A11 in Oregon). Policy issuance is subject to availability and qualifications. This policy has exclusions, limitations, and terms that may affect coverage, renewal, cancellation, termination, or other contractual rights and benefits.
Guarantees offered are subject to the claims-paying ability of the issuing company.
1 Allstate Life Tracks Poll, September 2012; LIMRA, "Person-Level Trends in U.S. Life Insurance Ownership," 2011.
2 All guarantees are subject to the claims-paying ability of the issuing insurance company.
SOURCE Allstate Insurance Company