About Life Insurance
Allstate Benefits offers a full range of life insurance products that can provide security through every stage of life. Employers can also choose to make optional riders available to customize coverage. In the event of a covered person's passing, their beneficiary will receive the applicable death benefit. Payments may be used for final expenses, daily living costs and any other needs – there are no restrictions.
How Life Insurance Works
Life insurance pays a lump-sum cash benefit when the insured person dies or may pay a benefit if the covered person lives to the designated maturity age. Add-on coverage through employer-chosen riders can help give families more benefits, such as monthly advances for long term care and chronic or terminal illnesses. Coverage amounts can vary to fit a family's needs and budget. Some life insurance options may offer Guaranteed Issue1 up to a certain benefit amount, meaning there are no medical questions to answer to enroll in coverage.
Life insurance options
Whole Life
Builds cash value over time that can be borrowed against if the need arises, with one set premium payment amount over the life of the coverage.
Features and Benefits of our Group Whole Life Insurance:
- Pays a lump sum cash benefit upon death or when policy matures
- Minimum guaranteed interest rate
- Guaranteed level death benefit and premiums
- Opportunity to build tax-advantaged funds that may be used for retirement, children's education or emergencies
See the Whole Life video
Universal Life
Provides adjustable premium payments and death benefit amounts, based on paid premium, interest rates and other factors.
Features and Benefits of our Group Universal Life Insurance:
- Pays a lump sum cash benefits if death occurs before age 95
- Builds tax-deferred cash value accessible by loan or partial surrender
- Opportunity to build a tax-advantaged fund that may be used for retirement, children's education or emergencies
See the Universal Life video
Allstate Benefits offers optional riders to enhance our permanent life insurance products. These include accelerated death benefit riders to help pay for long-term care if needed.
See our white paper "A Simple Guide to Understanding Long-Term Care (and Paying for It)" to learn more.
Term Life
Offers affordable coverage for a fixed period of time. It is ideal with covering specific needs during a certain stage of life, such as a mortgage or college education.
Features and Benefits of our Group Term to 100 Life Insurance:
- Pays a lump sum cash benefit if death occurs before age 100
- Premium is level to age 100, subject to coverage changes
- Death benefit is guaranteed for the first five years of coverage
- Coverage is available for dependents
See the Term Life video
Meet Tiffany
Tiffany is like any parent – she's concerned about how her family will make ends meet if she dies unexpectedly. Most important, she worries about leaving her husband and children with a large amount of debt.
If something were to happen to her, Tiffany worries about:
- The substantial amount she and her husband still owe on their mortgage
- The cost of their children's private school tuition and future college expenses
- The amount of other debt they have that would be difficult to cover on one income
Tiffany signs up for Whole Life Insurance from Allstate Benefits through her employer. It gives her some financial peace of mind when she thinks about her family's future.
Disclaimers and notes
1All exclusions and limitations apply to any coverage issued, including pre-existing condition limitation, if applicable.
