BUFFALO GROVE, Ill.,
March 11, 2011 /PRNewswire/ --
Allstate (NYSE: ALL) today announced the launch of GoodForLife, a
unique multi-coverage life insurance product that provides
Illinois consumers a benefit, not
only in the event of sickness, accident or death, but also when
they enjoy a long life.
GoodForLife takes the complexity out of protecting families from
the unexpected by bundling life insurance with severe accident and
critical illness benefits in one simple and affordable product.
And, if all goes as planned, at age 65 GoodForLife features a
return of premium, as well as a paid up death benefit with no
additional payments.
"GoodForLife exemplifies Allstate's commitment to reinvent
protection based on consumer wants and needs," said Jim Kontopoulos, Regional Financial Sales Leader
for Allstate's Midwest Region of Illinois, Minnesota and Wisconsin. "Consumers told us they wanted
affordable, easy-to-understand coverage with multiple benefits in
one simple package. They also asked us why companies don't reward
those who maintain good health throughout their life. This product
is the direct result of those conversations."
Allstate GoodForLife benefits include:
- Coverage amounts available in three different amounts:
- Life coverage to age 65; $50,000,
$75,000, or $100,000
- After age 65, life coverage of $15,000; no more premium payments
- Protection against the unexpected:
- Critical Illness & Severe Injury Coverage; up to three
payments of $10,000
- Terminal Illness coverage up to 75% of death benefit
- Fewer financial worries. Premium Forgiveness – customers may
miss up to 6 months of payments by accumulating a premium credit in
each of the first six policy years
- At age 65, a return of at least 50% of premiums paid **
GoodForLife is available through Allstate agencies in 43 states,
including Illinois. Additional
rollouts will occur throughout the rest of the year as the company
works with departments of insurance to make GoodForLife available
nationwide.
Allstate GoodForLife(SM) is a flexible premium universal life
policy (UL21AF in most states) issued by American Heritage Life
Insurance Company, Home Office, Jacksonville, FL, a subsidiary of The Allstate
Corporation, Northbrook, IL.
Available riders include the Accelerated Death Benefit Rider
(ULBR1), the Critical Illness Rider (UCIR2AF), the Enhanced Grace
Period Rider (UPFRAF), and the Accidental Death and Dismemberment
Rider (UADD1AF). See riders for terms, conditions and restrictions.
Additional costs may apply. Subject to state availability.
Please refer to the actual policy for coverage terms,
limitations and exclusions. The guaranteed benefits of
GoodForLife(SM) are dependent on the terms and conditions of your
policy. If actual premiums are different in timing or amount than
the planned premium, if withdrawals are made or loans taken, or if
other changes are made, the benefits may be reduced or coverage may
end. Guarantees are based on the claims-paying ability of American
Heritage Life.
** Money back at age 65 will vary by age and tobacco use.
The Allstate Corporation (NYSE: ALL) is the nation's largest
publicly held personal lines insurer. Widely known through the
"You're In Good Hands With Allstate®" slogan, Allstate is
reinventing protection and retirement to help more than 17 million
households insure what they have today and better prepare for
tomorrow. Consumers access Allstate insurance products and services
through Allstate agencies, independent agencies, and Allstate
exclusive financial representatives in the U.S. and Canada, as well as via www.allstate.com and
1-800 Allstate®.
Contact:
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Ellie Klooster
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(847) 667-8108
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SOURCE Allstate