Back to top


Types of Life Insurance Coverage & Policy Options

Find the policy for your life.

When deciding between term and permanent life insurance, which includes whole, universal and variable universal coverage, consider the option that best fits your needs and budget.

Sample rates

Tax-free death benefit

Coverage length

Includes a savings-like feature (cash value) that you can withdraw or borrow against while you're alive5

Offers investment options for your savings-like feature (cash value)

Potential for additional earnings (called excess credits) that provide cash back or add value to your policy6

May be for people who want:

$24.64/mo for $250,000 of Allstate TrueFit® for 20 years1
Rate shown is not available in New York

This feature is available.

10-30 years

-

-

-

Basic Protection

$271.03/mo for $250,000 Whole Life Advantage® for life2
Rate shown is not available in New York

This feature is available.

For life

This feature is available.

No, but cash value increases according to a regular schedule

This feature is available.

Fixed costs

$181.36/mo for $250,000 of Allstate Lifetime UL® for life3

This feature is available.

For life

This feature is available.

No. But there are multiple types of universal life insurance. Some earn a set interest rate, such as Lifetime UL. Some can earn an interest rate that follows the performance of a stock market index.

-

Flexible payments

Rates vary4

This feature is available.

For life

This feature is available.

Yes, you can choose from more than 30 investment funds to create a portfolio

-

Investment Options

Sample rates

$24.64/mo for $250,000 of Allstate TrueFit® for 20 years1
Rate shown is not available in New York

Tax-free death benefit

Yes

Coverage length

10 - 30 years

Includes a savings-like feature (cash value) that you can withdraw or borrow against while you're alive5

No

Offers investment options for your savings-like feature (cash value)

No

Potential for additional earnings (called excess credits) that provide cash back or add value to your policy6

No

May be for people who want:

Basic Protection

Sample rates

$271.03/mo for $250,000 of Whole Life Advantage® for life2
Rate shown is not available in New York.

Tax-free death benefit

Yes

Coverage length

For life

Includes a savings - like feature (cash value) that you can withdraw or borrow against while you're alive5

Yes

Offers investment options for your savings-like feature (cash value)

No, but cash value increases according to a regular schedule

Potential for additional earnings (called excess credits) that provide cash back or add value to your policy6

Yes

May be for people who want:

Fixed costs

Sample rates

$181.36/mo for $250,000 of Allstate Lifetime UL® for life3

Tax-free death benefit

Yes

Coverage length

For life

Includes a savings-like feature (cash value) that you can withdraw or borrow against while you're alive5

Yes

Offers investment options for your savings-like feature (cash value)

No. But there are multiple types of universal life insurance. Some earn a set interest rate, such as Lifetime UL. Some can earn an interest rate that follows the performance of a stock market index.

Potential for additional earnings (called excess credits) that provide cash back or add value to your policy6

No

May be for people who want:

Flexible payments

Sample rates

Rates vary4

Tax-free death benefit

Yes

Coverage length

For life

Includes a savings-like feature (cash value) that you can withdraw or borrow against while you're alive5

Yes

Offers investment options for your savings-like feature (cash value)

Yes, you can choose from more than 30 investment funds to create a portfolio

Potential for additional earnings (called excess credits) that provide cash back or add value to your policy6

No

May be for people who want:

Investment Options

Term life insurance

If you're looking for 10 to 30 years of affordable coverage, term life insurance may be right for you. With customizable policies, you'll find protection that fits where you are in life.

Term life insurance offers:

  • Great protection for newlyweds, young parents and homeowners
  • Coverage for a specific period of time, like until you reach retirement or your children are grown
  • Flexibility to switch to longer term, permanent protection in the future
  • A choice of policies that pay out either monthly or in a lump sum

Permanent life insurance

If you're looking for dependable protection that lasts a lifetime, you should consider the three types of permanent life insurance: whole, universal and variable universal.

Whole life insurance offers:

  • Great protection for pre-retirees, retirees and others who want to guarantee money to their loved ones
  • The potential to earn excess credits6, which can be received in cash, accumulated at interest, used to buy additional life insurance or to help reduce premium payments or pay outstanding loans
  • Cash value that increases regardless of market conditions
  • Fixed premium payments over time

Universal life insurance offers:

  • Great protection for those on the verge of entering their prime earning years and are looking for lifelong coverage
  • Protection beyond the face amount of the policy
  • Cash value that builds with the security of downside protection
  • Flexibility to adjust your plan over time

Variable universal life insurance offers:

  • Great protection for investment-savvy individuals
  • The freedom to choose where to invest your cash value
  • Potential to use your cash value for retirement or other life needs

LifeTrek logo.

Easily see what policy is right for you.

Check out our LifeTrek tool. Just answer a few quick questions to help find the life insurance policy for you.

Use LifeTrek

Life Made Simple Video: Comparing Insurance Types

Related resources

Agents are Here to Help Near
1Allstate TrueFit® is a term life insurance to age 95 policy issued by Allstate Assurance Company, 3075 Sanders Rd., Northbrook IL 60062 and is available in most states with contract series ICC14AC1/ AC14-1 and rider series ICC14AC2/AC14-2, ICC14AC3/AC14-3, ICC14AC12/AC14-26, ICC14AC11/AC14- 24, ICC14AC10/AC14-11, ICC14AC13/AC14-25. In New York, issued by Allstate Life Insurance Company of New York, Hauppauge, NY with contract series NYLU818 and rider series NYLU819, NYLU820, NYLU825, NYLU826, NYLU824, and NYLU745. The premiums will be the same for the level term period selected. Beginning with the anniversary following the level term period, the company reserves the right to change premium rates each policy year, but rates cannot be more than the maximum guaranteed amounts stated in the policy. The monthly cost shown is based on a male, age 37 Preferred Elite underwriting class for a policy not issued in NY; rates for other underwriting classifications would be higher. Further underwriting restrictions may apply. Other face amounts and guaranteed premium terms are available but will have different rates than those shown here. Premium may be paid annually, semi-annually, quarterly or monthly; premium paid may differ based on payment mode selected. A medical exam may be required depending on age, health or amount of coverage requested.

2Whole Life Advantage® is a whole life insurance policy issued by Allstate Assurance Company, 3075 Sanders Rd., Northbrook IL 60062 and is available in most states with contract series ICC18AC1/NC18AC1 and rider series ICC18AC2/NC18AC2, ICC18AC7/NC18AC7, ICC18AC4/NC18AC4, ICC18AC5/NC18AC5, ICC18AC6/NC18AC6, ICC18AC8/NC18AC8, ICC18AC9/NC18AC9. In New York, issued by Allstate Life Insurance Company of New York, Hauppauge, NY, and is available with contract/series NYLU796 and may be accompanied by the following riders NYLU801, NYLU799, NYLU797, NYLU697, NYLU699 and NYLU800. The monthly cost shown is based on a male, age 37 Preferred Elite underwriting class paid to age 121 for a policy not in NY; rates for other underwriting classifications would be higher. Further underwriting restrictions may apply. Other face amounts and guaranteed premium terms are available but will have different rates than those shown here. Premium may be paid annually, semi-annually, quarterly or monthly; premium paid may differ based on payment mode selected. A medical exam may be required depending on age, health or amount of coverage requested.

3Allstate Lifetime UL® is a flexible premium universal life insurance policy issued by Allstate Assurance Company, 3075 Sanders Road, Northbrook IL 60062 and is available in most states with contract series AC13-12 and rider series AC13-13, AC13-14, AC13-19, AC13-20, AC13-17, AC13-16, AC13-18. In New York, issued by Allstate Life Insurance Company of New York, Hauppauge, NY with contract series NYLU676 and rider series NYLU683, NYLU677, NYLU681, NYLU682 and NYLU680. The monthly cost shown is based on a male, age 37 Preferred Elite underwriting class; rates for other underwriting classifications would be higher. Further underwriting restrictions may apply. Other face amounts and guaranteed premium terms are available but will have different rates than those shown here. Premium may be paid annually, semi-annually, quarterly or monthly; premium paid may differ based on payment mode selected. A medical exam may be required depending on age, health or amount of coverage requested.

4Variable universal life products are long-term investments designed to provide life insurance protection and flexibility in connection with premium payments and death benefits. You should carefully consider the investment objectives, risks, charges and expenses of the investment alternatives before purchasing a policy. These policies have limitations and are sold by prospectus only. The prospectus contains details on the investment alternatives, policy features, the underlying portfolios, fees, charges, expenses and other pertinent information. To obtain a replacement prospectus or a copy of the underlying portfolio prospectuses, please contact the issuing insurance company. Please read the prospectus carefully before purchasing a contract.

5Loans, if not repaid, and withdrawals reduce the contract's death benefit and cash value. Partial withdrawals and surrenders from life policies are generally taxed as ordinary income to the extent the withdrawal exceeds your investment in the contract, which is also called the "basis". In some situations, partial withdrawals during the first 15 policy years may result in taxable income prior to recovery of the investment in the contract. Loans are generally not taxable if taken from a life insurance policy that is not a modified endowment contract. However, when cash values are used to repay a loan, the transaction is treated like a withdrawal and taxed accordingly. If a policy is a modified endowment contract, loans are treated as a taxable distribution to the extent of policy gain. Loans, withdrawals and surrenders are treated first as distributions of the policy gain subject to ordinary income taxation, and may be subject to an additional 10% federal tax penalty if made prior to age 59½.

6Excess credits are available with Whole Life Advantage®.

Policy issuance is subject to availability and qualifications. These policies have exclusions, limitations, and terms that may affect coverage, renewal, cancellation, termination, or other contractual rights and benefits. Rates quoted are subject to change and are set at the company's sole discretion. Terms and limitations apply. See individual product riders for terms, conditions and restrictions. For costs and complete details of coverage, call an Allstate agency.

Guarantees offered are subject to the claims-paying ability of the issuing company.

This life insurance information is provided for general consumer educational purposes and is not intended to provide legal, tax or investment advice. Life Insurance offered through Allstate Life Insurance Company, Northbrook, IL; Allstate Assurance Company, Northbrook, IL; Lincoln Benefit Life Company, Lincoln, NE and American Heritage Life Insurance Company, Jacksonville, FL. In New York, life insurance offered through Allstate Life Insurance Company of New York, Hauppauge, NY. All guarantees are based on the claims-paying ability of the issuing insurance company.

Securities offered by Personal Financial Representatives through Allstate Financial Services, LLC (LSA Securities in LA and PA). Registered BrokerDealer. Member FINRA, SIPC. Main Office: 2920 South 84th Street, Lincoln, NE 68506. 877-525-5727. Check the background of this firm on FINRA's BrokerCheck website.

ECC Monitor: OK