Allstate Life Insurance in Florida Review (2024)
With Allstate insurance, Florida residents can get the coverage they need to protect their loved ones. Allstate sold its life insurance company to Blackstone Insurance Solutions, but you can still obtain term life policies.
Free Life Insurance Comparison
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Schimri Yoyo
Licensed Agent & Financial Advisor
Schimri Yoyo is a financial advisor with active life and health insurance licenses in seven states and over 20 years of experience. During his career, he has held roles at Foresters Financial, Strayer University, Minnesota Life, Securian Financial Services, Delaware Valley Advisors, Bridgemark Wealth Management, and Fidelity. Schimri is an educator eager to assist individuals and families in ...
Licensed Agent & Financial Advisor
UPDATED: Dec 8, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Dec 8, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider. Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Allstate sells term life insurance policies
- Allstate sold its life insurance company to Blackstone Insurance Solutions
- Term life insurance policies are typically cheaper than whole life policies
While no amount of money can assuage your loved ones’ grief after your passing, you can use life insurance to help your loved ones cover funeral costs or other unforeseen expenses they may encounter.
Life insurance is a well-known tool that can help provide a financial cushion for bereaved loved ones, but which insurance companies should Florida residents turn to for their life insurance needs? With Allstate insurance, Florida residents can get necessary life insurance coverage right away for an affordable monthly rate.
Keep reading to learn more about Allstate’s history and the life insurance coverage this insurance company can offer to Florida residents.
What is Allstate?
Allstate is a major insurance company that has been in the insurance business since 1930. Retired Brigadier General Robert E. Wood founded this illustrious company, and today Allstate sells term life insurance policies alongside a wide range of other products. You can essentially treat Allstate as your one-stop shop for insurance if you need any of the following:
- Car insurance
- Motorcycle insurance
- Home insurance
- Renters insurance
- Condo insurance
- Pet health insurance
- Boat insurance
- Motorhome insurance
- Identity insurance
- Phone protection insurance
- Event insurance
Now, if you were to purchase life insurance through Allstate, you won’t have to worry about the company’s financial strength as A.M. Best awarded it an A+.
With such a strong rating, you can rest easy knowing that this insurance company will be able to pay out a claim filed by your beneficiaries. In addition, the Better Business Bureau (BBB) also gave this company an A- rating.
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What life insurance products does Allstate sell?
According to Business Wire, Allstate completed the sale of its life insurance company subsidiary to Blackstone Insurance Solutions in November 2021. As a result, what was once the Allstate Life Insurance Company will become Everlake Life Insurance.
Read More: Does Allstate have life insurance?
This sale means that there has been an intense reduction in the life insurance products offered by Allstate. Currently, only term life insurance policies are still sold by Allstate to Florida residents. You can review this data table to compare the rates of an Allstate term policy to similar policies offered by other major insurance companies:
Comparison of 20-year, $500,000 Allstate Term Life Insurance Rates
| Age | Allstate, Male | Allstate, Female | AIG, Male | AIG, Female | MassMutual, Male | MassMutual, Female | Transamerica, Male | Transamerica, Female |
|---|---|---|---|---|---|---|---|---|
| 25 | $32.00 | $23.00 | $19.57 | $16.67 | $23.08 | $19.58 | $23.22 | $16.77 |
| 30 | $33.00 | $26.00 | $19.92 | $17.27 | $23.48 | $20.03 | $23.65 | $18.92 |
| 35 | $35.00 | $29.00 | $21.28 | $18.37 | $24.38 | $21.33 | $30.10 | $26.23 |
| 40 | $51.00 | $39.00 | $29.92 | $25.84 | $33.08 | $29.13 | $44.72 | $36.98 |
| 45 | $66.00 | $48.00 | $48.60 | $38.47 | $57.43 | $44.83 | $62.35 | $49.45 |
| 50 | $97.00 | $67.00 | $75.66 | $58.01 | $486.58 | $64.38 | $94.60 | $75.68 |
| 55 | $149.00 | $102.00 | $124.83 | $90.58 | $139.23 | $103.98 | $147.49 | $116.96 |
| 60 | $240.00 | $163.00 | $219.30 | $159.45 | $239.68 | $162.28 | $210.27 | $204.68 |
Applicants for an Allstate term life insurance policy must be between the ages of 18 and 60, and applying for a quote is quite simple. There is a free quote tool on the Allstate website. You will, however, be prompted to share your full name, date of birth, and your natal sex. So, if you’re left wondering, “How much life insurance do I need?” you can always make use of free resources, like life insurance calculators, to discover how much coverage you should purchase.
Of course, now that Allstate has sold its life insurance company, you’ll have to reach out to other insurance companies if you want a great selection of life insurance policies to choose from.
Read More:
- Allstate Life Insurance in Illinois Review
- Allstate Life Insurance in New York Review
- Best Life Insurance in Florida
What other companies sell life insurance?
While Allstate’s life insurance selection may be limited, there are plenty of other insurance companies on the market today that can offer Florida residents a wide selection of life insurance policies. Below, you can see five such companies along with their financial ratings and the types of products offered:
Best No Medical Exam Life Insurance Companies
| Companies | A.M. Best Ratings | Coverage Capacity | Issue Ages | Premiums | Life Insurance Policies Offered |
|---|---|---|---|---|---|
| AIG | A | $10 million | Up to 80 | Contact agent | Term, whole, universal, and accidental death |
| Colonial Penn | A- | Contact agent | Up to 85 | $9.95+/month | Guaranteed acceptance, whole, and term |
| Globe Life | A | $100,000 | Contact agent | $3.98+/month | Term, whole, and mortgage protection |
| Prudential Veterans’ Group Life Insurance | A+ | Over $750,000 | Contact agent | $12.08+/month | Term and universal |
| State Farm | A++ | Contact agent | Up to 45 with no medical exam | Contact agent | Term, whole, and universal |
As you can see, four of these companies provide whole life insurance, which can be particularly advantageous for younger people looking to build wealth. Whole life insurance policies build cash value.
You can use this cash value at any point during your policy period for anything you need, like making a car payment or buying books for college. You can even take loans out against your policy, instead of through a bank and avoid paying high-interest rates by doing so.
Why is life insurance important?
Life insurance is important because it can help you provide for your loved ones even after death. For example, if your family primarily relies on your income, your death could be financially devastating. Purchasing a life insurance policy allows you to make sure that your loved ones can pay the utility bills, cover the mortgage, and more.
Even if you are a stay-at-home parent, you should consider buying a life insurance policy as the death benefit from your policy can be used to afford child care and home cleaning services. (For more information, read our “How to Buy Life Insurance“).
Now, there are assumptions that only married individuals with children should purchase life insurance, but you can name anyone as your beneficiary. The beneficiary does not have to be related to you. You can even leave behind a generous gift to your alma mater or favorite non-profit organization. (For more information, read our “Joint Life Insurance for Married Couples: Should you get it?“).
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What You Need to Know About Allstate Life Insurance
With Allstate insurance, Florida residents can get term life, home, or car insurance quotes along with quite a few other policy types. However, since Allstate has sold its life insurance company, you won’t be able to purchase anything but term life insurance. So if you were hoping to build cash value within your policy, you’ll need to look for insurance elsewhere.
Thankfully, you can shop for life insurance easily online, whenever is most convenient from your smartphone or personal computer.
The Claims Process for Allstate Life Insurance in Florida
Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)
When it comes to filing a claim with Allstate Life Insurance in Florida, policyholders have multiple convenient options. Allstate offers an easy and user-friendly online claims filing process. Policyholders can also file claims over the phone, providing flexibility and accessibility.
Additionally, the availability of mobile apps enhances convenience, allowing users to initiate and track claims right from their smartphones.
Average Claim Processing Time
Allstate is committed to providing timely claim processing services. The average claim processing time may vary depending on the complexity of the claim and the required documentation. However, Allstate strives to expedite the process to ensure that beneficiaries receive their payouts promptly.
Policyholders can expect a reasonable turnaround time for their claims.
Customer Feedback on Claim Resolutions and Payouts
Customer feedback on claim resolutions and payouts is crucial for assessing the effectiveness of an insurance provider. Allstate has a reputation for fair and efficient claim resolutions, with many policyholders expressing satisfaction with the company’s handling of claims.
Customer reviews and testimonials indicate that Allstate strives to fulfill its commitment to policyholders by providing reliable and prompt claim payouts.
Innovative Tech Offerings by Allstate Life Insurance in Florida
Mobile App Features and Functionality
Allstate offers a feature-rich mobile app that empowers policyholders with convenient tools and resources. The app allows users to access their policy information, view billing details, and file claims directly from their mobile devices.
Additionally, it provides real-time updates and notifications, ensuring that policyholders stay informed about their coverage and claims status while on the go.
Online Account Management Capabilities
Allstate’s online account management capabilities are designed to simplify the policyholder experience. Through the online portal, policyholders can manage their policies, update personal information, and make premium payments with ease.
The user-friendly interface ensures that policyholders have quick and secure access to their account details, promoting transparency and control over their insurance coverage.
Digital Tools and Resources
Allstate equips its policyholders with a range of digital tools and resources to enhance their insurance experience. These resources include educational materials, calculators, and guides that help policyholders make informed decisions about their coverage.
Additionally, Allstate’s website provides access to valuable information on insurance topics, enabling policyholders to stay informed and empowered when it comes to their insurance needs.
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Schimri Yoyo
Licensed Agent & Financial Advisor
Schimri Yoyo is a financial advisor with active life and health insurance licenses in seven states and over 20 years of experience. During his career, he has held roles at Foresters Financial, Strayer University, Minnesota Life, Securian Financial Services, Delaware Valley Advisors, Bridgemark Wealth Management, and Fidelity. Schimri is an educator eager to assist individuals and families in ...
Licensed Agent & Financial Advisor
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance related. We update our site regularly, and all content is reviewed by life insurance experts.