Neither is the better company, and the right one depends on what you want out of the relationship. State Farm writes and services its own life insurance, so the name on the agent's door is also the name on the contract. Allstate works the other way: its own life insurance pages state that life insurance is offered and issued by third party companies not affiliated with Allstate, which means an Allstate agency can place you with more than one insurer instead of a single shelf. Older Allstate branded life policies moved in 2021 to a separate company called Everlake, so knowing which structure you are buying into matters more here than any quoted premium.
At a glance
| Allstate | State Farm | |
|---|---|---|
| Company structure | The Allstate Corporation is a publicly traded company | Life company wholly owned by State Farm's mutual parent |
| Who issues your life policy | Third party companies not affiliated with Allstate, per Allstate | State Farm Life Insurance Company, of Bloomington, Illinois |
| New York and Wisconsin | Allstate notes life insurance policies in New York differ | State Farm Life and Accident Assurance Company writes NY and WI |
| How you buy it | Through an Allstate agency or Personal Financial Representative | Through a local State Farm agent, roughly 19,000 nationwide |
| Life products on the shelf | Term, whole, universal and variable, sourced from partner insurers | Term, whole, universal and variable universal life |
| Term lengths | 10 to 40 years, with issue ages listed as 18 to 80 | Select Term at 10, 20 or 30 years, renewable to age 95 |
| Small fast policy | Lab Free Consideration on term, based on age, health and amount | Instant Answer Term, $50,000, no tests, decided in the office |
| Best known for | One familiar agency for auto, home and a life referral | One local agent handling auto, home and life under one roof |
At one, the agency and the insurer are the same company. At the other, they are not.
Both names reach most households through auto and home, so it is easy to assume the life insurance works the same way at each. It does not, and that is the whole comparison. State Farm still manufactures its own life insurance. State Farm Life Insurance Company issues the policy in most states, and State Farm Life and Accident Assurance Company is the licensed company in New York and Wisconsin, so one company quotes it, issues it and pays the claim. Allstate fills a different role. The disclaimer on its own life insurance pages reads that life insurance is offered and issued by third party companies not affiliated with Allstate, and that each company is solely responsible for the financial obligations accruing under the products it issues. An Allstate agency introduces you to an insurer rather than being one, which also means it is not tied to a single company's shelf. Neither shape is better. One gives you a single name from quote through claim, the other gives you an agent who can look at more than one carrier on your behalf.
Who each one actually suits
Allstate
A national auto and home agency network that places life insurance with partner insurers
- You want a large face amount, since Allstate lists term coverage running from $100,000 up to $50,000,000 subject to qualification.
- You want the longest runway available here, because Allstate lists term lengths from 10 up to 40 years with issue ages of 18 to 80.
- You like the idea of an agent who can place your policy with more than one insurer instead of being limited to a single company shelf.
- You already trust an Allstate agency with your auto and home and would rather start the life conversation in a room where someone knows you.
- You want a menu of optional add-ons, and Allstate lists coverage for children, accidental death benefit, waiver of premium, an Income Provider Option Endorsement and an Unemployment Protection Rider among them.
State Farm
A company that writes and services its own life insurance through local agents
- You want the company on the agent office door to be the same company printed on the contract, which is how State Farm life is structured.
- You want permanent coverage written by that same company, since State Farm lists universal life alongside survivorship and joint universal life for two people.
- You want a small policy decided quickly, and Instant Answer Term provides $50,000 of protection until age 50 or a maximum of ten years, whichever is longer, with no tests required.
- You want term you can turn into permanent coverage later, since State Farm says any of its term coverage can be converted regardless of health status, with options varying by state and by policy type.
- You want a specific term structure, whether that is Select Term at 10, 20 or 30 years renewable to age 95, or Return of Premium Term in a 20 or 30 year length.
If you already hold one of them
If you hold an Allstate branded life policy from years back, the first useful step is simply to read the paperwork and find the company name, because Everlake Life Insurance Company took over the Allstate Life book on November 1, 2021, and servicing for the remaining Everlake products later moved again to an administrator called Transaction Applications Group. Nothing about your coverage changed, only who answers the phone, so update your beneficiary contact details and keep the policy where it is if the amount still fits. A State Farm policy is easier to track down, since the issuing company has not changed and your agent office can pull it up. In both cases the honest question is whether the amount, the term remaining and the named beneficiary still match your life, not which logo is on the envelope.
Common questions
Does Allstate still sell life insurance?
Yes, you can still get a life insurance quote and buy a policy through an Allstate agency, and Allstate markets term, whole, universal and variable life on its site. What changed is who stands behind it. The disclaimer on Allstate's own life insurance pages states that life insurance is offered and issued by third party companies not affiliated with Allstate, and that each company is solely responsible for the financial obligations accruing under the products it issues. So the agency is the door and a partner insurer writes the contract, which is a common and perfectly normal arrangement. Ask the agent which company would issue your policy before you sign, and look that company up.
What is Everlake, and why is that name on my old Allstate policy?
Everlake Life Insurance Company and Everlake Assurance Company are US based insurance companies specializing in life insurance and annuities. Everlake says it was established on November 1, 2021 through the acquisition of Allstate Life Insurance Company and Allstate Assurance Company, which had been serving customers since 1957 and 2015 respectively. It reports over 1.5 million policies in force and approximately $24 billion in assets under management, and it also administers selected policies issued by Lincoln Benefit Life Company, Surety Life Insurance Company, American Maturity Life Insurance Company and Columbia Universal Life Insurance Company. Your coverage terms did not change when the name did. You can look up the current financial strength of any insurer at ambest.com.
Who services an Everlake policy now?
Everlake states that as of June 8, servicing for all remaining Everlake products transitioned from Allstate to Transaction Applications Group, Inc., referred to as TAG, and that affected customers received a mailing telling them where to service their policies going forward. If you tried an old Allstate number and got nowhere, that is usually why. The policy itself, the death benefit and the premium are unchanged. Keep the mailing with your policy documents so a beneficiary can find the right servicer later, and confirm current details on the Everlake site.
Which company would actually issue a State Farm life policy?
State Farm Life Insurance Company of Bloomington, Illinois issues the policy in most of the country, and State Farm notes it is not licensed in Massachusetts, New York or Wisconsin. State Farm Life and Accident Assurance Company is the licensed company in New York and Wisconsin. The practical takeaway is that the life company is a State Farm company, which is what makes the local agent relationship continuous from quote through claim. Financial strength for any insurer can be checked at ambest.com.
Does bundling life with my auto and home work the same at each?
Not quite, and the difference is worth knowing before you ask. At State Farm the auto, home and life policies can all sit with State Farm companies and be handled by the same local agent office, which is what most people picture when they say bundling. At Allstate the auto and home are written by Allstate companies while the life policy comes from a partner insurer, so you get one agency relationship rather than one insurer. That distinction matters mainly for who you call and whose financial strength backs the death benefit. It does not make either arrangement wrong, and discounts and availability vary by state either way.
Which one is cheaper for life insurance?
There is no honest single answer, and anyone who gives you one is guessing. Life insurance pricing turns on your age, your health history, tobacco use, the coverage amount, the term length and the state you live in, and two people the same age can be quoted very differently by the same company. Because Allstate places its life business with partner insurers, the price you see there depends on which insurer the agent uses as well. The only comparison worth anything is both quotes run on your real details on the same day.
Can I convert a term policy to permanent coverage at either one?
State Farm is explicit about it: it says you can convert any State Farm term life coverage to permanent coverage regardless of your health status, with conversion options varying by state and, for some term policy types, by age. Allstate lists conversion to a permanent policy among the renewability options on its term product, alongside annual renewable term after the level period and a reducing death benefit option. Conversion windows do not stay open forever in either case, so read the conversion clause in your own contract and note the deadline while you are healthy.
If I already have one of these, should I switch to the other?
Not automatically, and often not at all. Coverage you already own was priced on the health you had when it was issued, so if your health has changed since, replacing it can cost more or may not be available on the same terms. Any honest comparison starts by valuing what you already hold, and a review that ends in keep what you have is a perfectly good result.
Can I hold policies from both companies at once?
Yes. There is no rule against owning coverage from more than one insurer, and plenty of households do, often because policies were bought at different life stages for different reasons. What matters is that the total coverage matches what your family would actually need, and that you are not paying twice for the same job.
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This comparison is general information, not legal, tax, or financial advice. Product availability, pricing and underwriting differ by state, age and health, and change over time. Policy Review Center is a free comparison and referral service, not an insurance agency, insurer, or producer, and it connects you with independent licensed agents. Carrier names are used for reference only and do not imply any endorsement or affiliation.