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Allstate Worksite Unit Sells Critical Illness Insurance

By Staff Writer

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NU Online News Service, June 23, 2003, 5:05 p.m. EDT – The Allstate Corp., Northbrook, Ill., is now selling individual critical illness insurance through the worksite to workers ages 18 to 69.

Benefit levels range from $5,000 to $100,000.

Allstate is writing the policies through a subsidiary, American Heritage Life Insurance Company, Jacksonville, Fla.

Allstate can increase premiums by class, but the policies are guaranteed renewable, and insureds can collect benefits without meeting a requirement that they survive for a minimum period of time.

Allstate notes that its critical illness policy covers insureds against the risk of suffering more than one critical illness.

An insured who suffers a stroke, then suffers a second critical illness, such as kidney failure, can still collect for the second illness, Allstate says.

The policy is not available in Connecticut, Massachusetts, New York or Virginia.