1 Three simple database checks are used to determine eligibility for Basic Term: MIB, MVR and Prescription Database Check in addition to the medical questions on the application
2 Benefit amounts start at $100,000 in Washington state.
3 Partial withdrawals and surrenders from life policies are generally taxed as ordinary income to the extent the withdrawal exceeds your investment in the contract, which is also called the "basis." In some situations, partial withdrawals during the first 15 policy years may result in taxable income prior to recovery of the investment in the contract. Loans are generally not taxable if taken from a life insurance policy that is not a modified endowment contract (MEC). However, when cash values are used to repay a loan, the transaction is treated like a withdrawal and taxed accordingly. Unpaid interest on loans is added to the loan principal, thereby increasing the total debt on the policy. The combination of an increasing loan balance and deductions for contract charges and fees may cause the policy to lapse, triggering ordinary income tax on the outstanding loan balance to the extent it exceeds the cost basis in the policy. Loans, if not repaid, and withdrawals reduce the policyâ€™s death benefit and cash surrender value.
4 The death benefit of life insurance policies that were transferred for value may be subject to ordinary income taxes. Estate taxes may apply. Consult your tax advisor for additional information.
Allstate Basic Term SM is a term life insurance policy (LU10987 series in most states) issued by Allstate Life Insurance Company, Home Office: Northbrook, IL. Available riders include the Accelerated Death for Terminal Illness (LU10990 series). See rider for terms, conditions and restrictions. Subject to state availability.
In New York, Allstate Basic TermSM is a term life insurance policy (NYLU769 series) issued by Allstate Life Insurance Company of New York, Hauppauge, NY, a wholly-owned subsidiary of Allstate Life Insurance Company, Northbrook, IL. Available riders include the Accelerated Death for Terminal Illness (NYLU745 series). See rider for terms, conditions and restrictions.
TrueTerSM is a term life insurance policy issued by Lincoln Benefit Life Company. Lincoln Benefit Life Company is a wholly owned subsidiary of Allstate Life Insurance Company, Northbrook, IL. TrueTerm is available in most states with contract series LP0600 and rider series LR0601, LR0603, LR0806, LR0604, and LR0605. This policy has exclusions, limitations, and terms that may affect coverage, renewal, cancellation, termination, or other contractual rights and benefits.
In New York, TrueTermSM is a term life insurance issued by Allstate Life Insurance Company of New York Home Office, Hauppauge, NY. TrueTermSM is available with contract number NYLU757 and rider series NYLU758, NYLU668, NYLU745, NYLU669, and NYLU670. This policy has exclusions, limitations, and terms that may affect coverage, renewal, cancellation, termination or other contractual rights and benefits.