Universal life insurance is type of permanent life insurance offering the low-cost protection of term life insurance as well as a savings element that provides a cash value buildup inside your policy. Your premiums are flexible that allow you to adjust how much you'll pay each year, but keep in mind there’s a minimum cost to keep the insurance inforce. Every year you’ll receive an annual statement in the mail from Allstate. This is an important document and it will illustrate the duration of your policy based on your current premium.
You choose the coverage that’s right for you and your family. With planning, the death benefit can pass to your beneficiaries free from state or federal estate taxes. Consult with your tax advisor for specific information. Then, when life comes to an end, your beneficiary will receive a tax-free death benefit that can be used to help pay for funeral expenses, mortgage payments and more. With Allstate Benefits, you gain peace of mind knowing your loved ones will receive a financial safety net when you die – think of it as your final gift of love.
Cash benefits provide greater coverage options because you or your beneficiary get to determine how to use them
The Accelerated Death Benefit riders can help protect your HSA's, savings, retirement plans and 401(k) from being depleted.
The lump-sum cash benefit can be used to help pay your family’s living expenses such as bills, electricity and gas.
Your beneficiary can use the cash benefits to help pay the mortgage, continue rental payments, or perform needed home repairs.