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Allstate Disability Insurance Review


Rating: 7.2 / 10 (Very good)
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Founded in 1931, Allstate Corporation is the largest publicly-held property and casualty insurance company in the nation, offering a broad range of insurance products and services. Besides asset protection plans like car insurance, the company also sells life, long-term care, supplemental health, accident, and disability insurance products.

How is Allstate rated?

Breakdown

10/10
Policies & Coverage
8/10
Flexibility
9/10
Financial Strength
9/10
Reputation & Customer Experience

Overall Rating: 7.2 / 10 (Very good)

Allstate offers both short and long-term disability insurance coverages for groups and individuals. Although their plans are not as flexible as those offered by similar competitors, they do provide benefits other insurers fail to include, such as full disability coverage for pregnancies and the inclusion of mental illnesses not diagnosed or treated prior enrolling in coverage. Prospective customers looking into Allstate's disability insurance will find the company is refreshingly transparent about how they calculate monthly benefits and what their policies' exclusions and limitations are. Anyone searching for a straightforward disability insurance policy with great features and some optional riders will find Allstate has some worthwhile options.

Allstate Policies & Coverage

Policies & Coverage - 9.5 / 10

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.
Policy Types
Long-Term
Short-Term
Individual
Group
Policy Features
Partial Disability
Presumptive Total Disability
Elimination Period
0, 7, 14 or 30 days for STD and 90 or 180 days for LTD
STD Maximum Monthly Benefit
Based on a percentage of the policyholder's total income
LTD Maximum Monthly Benefit
Based on a percentage of the policyholder's total income
Short-Term Benefit Period
3, 6, 12 or 24 months
Long-Term Benefit Period
To normal retirement age or 42 moths, if greater
Online Quote
Pre-Existing Conditions Exclusion
Exclusions & Limitations
Allstate does not pay benefits for a disability that starts within 12 months of your effective date from a pre-condition. You have a pre-existing condition if you received medical treatment, consultation, care or services, including diagnostic measures, or took prescribed medications in the 12 months before your effective date of coverage. <br /><br />The company does not pay benefits for disabilities resulting from loss of professional or occupational license or certification; participation in a felony; intentionally self-inflicted injuries; active participation in a riot; committing a crime for which you are convicted under state or federal law; pre-existing conditions; occupational sickness or injury for which benefits are paid or payable under any workers compensation law. The plan does not cover a disability due to war, declared or undeclared, or any act of war. The insurer will not pay a benefit for any period of disability under which the employee is incarcerated.
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Allstate Flexibility

Flexibility - 8 / 10

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.

Available Policy Riders

Future Increase
Cost of Living Adjustment
Waiver of Premium
Residual Benefits
Own Occupation
Automatic Benefit Increase
Guaranteed Insurability
Return of Premium
Critical Illness
Hospital Confinement Indemnity
Supplemental Disability Income
Retroactive Injury
Accidental Medical Expense
Catastrophic Disability

Other Riders

• Policy Benefit Reduction: Monthly benefits are reduced if the policyholder receives Social Security, Railroad Retirement, or other federal disability benefits. The amount of reduction will equal the total of these other benefits, yet the monthly benefit paid under the plan will never drop below $100.

• On-the-Job Accident Total Disability: Pays a benefit equal to the monthly policy benefit. The benefit is reduced by 50% in the months the policyholder receives worker's compensation or other state disability benefits.

• Accidental Death or Dismemberment: Pays a benefit when an injury results in a covered loss within 90 days (180 days for dismemberment or death) from the date of the accident. Multiple dismemberments during the same injury are limited to the maximum amount shown in the policy contract page.

Allstate Financial Strength

Financial Strength - 9 / 10

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.
Company Type
Underwriter
Underwriter
The Allstate Corporation
Year Founded
1931
Market Share 2017
0.0%
Total Premiums 2017
$1,434,823.00
Standard & Poor's Financial Rating
A-
Moody's Financial Rating
A3
AM Best Financial Rating
a-

Allstate Reputation & Customer Experience

Reputation & Customer Experience - 9 / 10

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.
BBB Rating
A
Number of BBB Positive Reviews
3
Number of BBB Negative Reviews
190
Trustpilot Rating
5.7 out of 10
Date Collected
2018-03-16
NAIC Complaint Ratio 2017
12.73
NAIC Total Complaints 2017
2

Company Profile

Full Name
Allstate Disability Insurance
Company Website
Headquarters
2775 Sanders Road, Northbrook, IL, 60062

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Top Rated
7.8 / 10
  • Comprehensive group and individual short- and long-term disability insurance policies
  • Total and partial disability policies
  • A large selection of features and riders available on most plans
  • Accident-only disability and critical illness insurance also available