Allstate: Debuts Individual Disability Income Insurance

Why you should trust Insure.com

Quality Verified

At Insure.com, we are committed to providing honest and reliable information so that you can make the best financial decisions for you and your family. All of our content is written and reviewed by industry professionals and insurance experts. We maintain strict editorial independence from insurance companies to maintain editorial integrity, so our recommendations are unbiased and are based on a comprehensive list of criteria.

Allstate Insurance Co. is now selling individual disability policies that allow policyholders to maintain a portion of their income while disabled, regardless of whether the disability is work-related or due to sickness or injury.

Called “Heritage Protector” and “Heritage Protector Plus,” the individual policies are available through Allstate agents and allow individuals to apply for benefits up to 60 percent of their income with a minimum benefit amount of $400 per month and a maximum of $7,000 per month. The policies also carry a choice of benefit periods (two years, five years, and up to age 65) and a variety of waiting periods (30, 60, 90, 180, and 365 days). Policyholders may also purchase optional benefits, such as accidental death and dismemberment and inflation protection.

“Many Americans do not realize the importance of individual disability income insurance,” says William H. Monie Jr., executive vice president of Allstate’s workplace division. According to a recent survey released by the Consumer Federation of America and the American Council of Life Insurers, 82 percent of workers in the United States either have no long term disability coverage or have coverage they believe is inadequate.

Related Articles
The basics of accidental death and dismemberment insurance
Health insurance basics
More health insurance stories

Allstate debuts individual disability policies

Related Articles