Allstate Disability Insurance Review

Allstate's group short and long-term disability insurance features total and partial disability options as well as a recurrent disability benefit, which pays when the policyholder is disabled from the same cause or a related cause for 14 consecutive days, without requiring a new elimination period or benefit period. Both plans also cover total disability due to pregnancy and extend a waiver of premium benefit after monthly disability benefits are payable for a month. Monthly benefits are calculated following a standard formula that multiplies the policyholder's earnings by 60%, then substracts deductible sources of income and determines the lesser of these sources to pay out the greater one as a monthly benefit.

The company's LTD insurance also provides family survivor income benefit. This feature gives a lump sum payment equal to three times the insured's gross disability benefit to the eligible survivor if, upon their death, the insured's disability had continued for 180 or more consecutive days and they were receiving or were entitled to receive payments under the plan. Another excellent feature included with this policy is coverage for mental illnesses, which pays out a benefit for these conditions for as long as the policyholder is confined to a hospital or licensed medical care facility. Like other disability insurance plans, benefits under Allstate's plans are not taxable if the policies are paid with after-tax dollars.

Although Allstate doesn't provide further policy details on its site besides the general benefits disability insurance typically affords, other sources state it does offer additional riders to help customize both its short and long-term disability coverages. We can then surmise plan riders through Allstate may include a waiver of premium option as well as monthly benefit reduction for Social Security, an "on-the-job accident and total disability" coverage, and an accidental death and dismemberment optional policy.

As one the of largest companies in the United States and the largest publicly-held insurer in the nation, Allstate offers insurance products that are backed by their outstanding financial strength and great overall ability to meet policyholder obligations. The company currently holds an A.M. Best long-term issuer credit rating of a- as well as an A- with S&P and a Moody's Financial rating of A3. Allstate's solid financials are indicative of future stability and continued growth and should serve to reassure policyholders of the soundness of their investments with the company.

Allstate has received an A rating from the Better Business Bureau with a pending accreditation. Although they have been the object of a high number of complaints and negative customer feedback on that organization's site, NAIC data reveals there were merely two complaints filed against Allstate for their individual accident and health insurance products in 2017. Their 5.7 Trustpilot score based on only three customer reviews makes it all the harder to ascertain the company's reputation with current and previous customers. However, prospective clients should bear in mind the insurance industry as a whole is characterized by a massive number of customer complaints corresponding to the even broader consumer base served by insurance companies. When researching a provider's reputation, one of the best ways to ensure we are opting for a reputable company is asking our family, friends, colleagues, and neighbors about their experiences with a particular insurer.