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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Joel...

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Reviewed by Joel Ohman
Founder, CFP® Joel Ohman

UPDATED: Mar 5, 2022

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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.

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The Truth in a Nutshell

  • You can buy term life insurance policies through Allstate
  • Blackstone Insurance Solutions bought the Allstate Life Insurance Company
  • You can’t build cash value with a term life insurance policy

Just as you would buy car or renter’s insurance to protect yourself, you should consider buying life insurance to protect your loved ones. With an Allstate term life insurance policy, your loved ones have a financial cushion at a reasonable rate.

If you are looking for an affordable life insurance policy, keep reading to discover how much a policy from Allstate costs and how to purchase Allstate in Illinois.

What is Allstate Insurance?

Allstate is one of the biggest names in the insurance industry. Robert E. Wood, a retired Brigadier General, and former Sears executive, founded this illustrious insurance company in 1930. Today, Allstate provides term life insurance and a wide range of other insurance products throughout the United States.

You can call Allstate’s main service line, 1-800-255-7828, any day of the week if you want to learn more about this company or have concerns about your policy. You can also send a note using the email form on Allstate’s website, which can be translated into Spanish if English isn’t your first language. You can also reach out directly to your local Allstate agent if you need any assistance.

Allstate’s head office is located at 2775 Sanders Road, Northbrook, Ill., 60062.

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Is Allstate highly rated?

If you prefer to do business with a financially strong company, you’ll be pleased to learn that Allstate has an A+ rating from A.M. Best. This rating is an excellent sign that Allstate can pay out your policy’s death benefit if your beneficiaries need to file a claim.

Plus, you can trust that your beneficiaries will be treated well by Allstate during the claims filing process because this company has an A- rating from the Better Business Bureau.

Can I buy life insurance from Allstate?

While you can buy life insurance from Allstate, your options will be severely limited. As reported by Business Wire, the reason there is a lack of variety is that Allstate sold Allstate Life Insurance Company, its subsidiary, to Blackstone Insurance Solutions. Individuals who purchased a policy through the Allstate Life Insurance Company will now have their policies serviced through Everlake Life Insurance.

With this sale comes the erasure of many former Allstate life insurance products. Residents of Illinois can only purchase term life insurance products from Allstate.

You must be between 18 and 60 to apply for a quote from Allstate. The process of getting a quote is simple. You can use Allstate’s free online quote tool, but you must share your sex, age, name, and address.

How much does term life insurance cost?

Through Allstate, Illinois residents can purchase term insurance for a low cost, but rates will change depending on your age and how much insurance you need. Below, you can see how Allstate’s rates compare to other insurance companies that offer similar products:

Comparison of 20-year, $500,000 Allstate Term Life Insurance Rates
AgeAllstate, MaleAllstate, FemaleAIG, MaleAIG, FemaleMassMutual, MaleMassMutual, FemaleTransamerica, MaleTransamerica, 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
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Now that you know how your coverage amount can influence your rates, you may be wondering, “How much life insurance do I need?

Thankfully, with today’s technology, you can use free resources like life insurance calculators to estimate how much coverage you’ll need to protect your loved ones.

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Where else can I shop for life insurance?

With Allstate, Illinois residents have a limited selection of life insurance products. However, there are other insurance companies that can provide you with more options. You can review the data table below to get an idea of what other life insurance products different companies can offer you:

Best No Medical Exam Life Insurance Companies
CompaniesA.M. Best RatingsCoverage CapacityIssue AgesPremiumsLife Insurance Policies Offered
AIGA$10 millionUp to 80Contact agentTerm, whole, universal, and accidental death
Colonial PennA-Contact agentUp to 85$9.95+/monthGuaranteed acceptance, whole, and term
Globe LifeA$100,000Contact agent$3.98+/monthTerm, whole, and mortgage protection
Prudential Veterans’ Group Life InsuranceA+Over $750,000Contact agent$12.08+/monthTerm and universal
State FarmA++Contact agentUp to 45 with no medical examContact agentTerm, whole, and universal
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Four of the companies shown above provide another popular form of life insurance known as whole life insurance. Such policies can typically be bought for children or purchased by individuals who want their policy to grow in value over time.

Unlike term life insurance, policies accumulate cash value that can be used however you like. For example, you can leave those funds untouched and let the total value of your policy grow. On the other hand, you could use the cash value to fund a business. Some whole life insurance policies can even earn you money in the form of dividends.

Who should buy a life insurance policy?

Anyone can buy life insurance, even individuals who do not have young children or a spouse relying on them. A life insurance policy can help your loved ones cover memorial or funeral expenses. Life insurance is also useful because you can name anyone as your beneficiary.

This flexibility means that you can leave behind a generous legacy to a favorite cousin or well-loved friend. You can even use an insurance policy to give a financial gift to your favorite charity.

Does Allstate sell other insurance products?

If you want to bundle your policies with one insurance company, you can turn to Allstate for all your insurance needs. In addition to term life insurance, you can purchase:

  • Car insurance
  • Motorcycle insurance
  • Home insurance
  • Renters insurance
  • Condo insurance
  • Pet health insurance
  • Boat insurance
  • RV or Motorhome insurance
  • Identity insurance
  • Phone protection insurance
  • Event insurance

No matter what you need to protect, Allstate has you covered. Bundling your insurance is also a convenient way to save money. For example, if you own a car and a house, you can reduce your rates with an auto and home insurance bundle.

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Allstate Life Insurance: The Bottom Line

Through Allstate, Illinois residents can buy a term life policy that won’t break the bank and provides the coverage they need to protect their loved ones. While Allstate’s life insurance products reduced since the sale of the Allstate Life Insurance Company, this illustrious insurance company still has an impressive array of products that can keep you protected.

Now, if you are interested in more than a term life insurance policy, you can shop online to find the best life insurance company for your needs.