On November 1, 2021, Allstate Insurance Company completed its sale of Allstate Life Insurance Company and Allstate Distributors, LLC, to Everlake US Holdings Company, a Delaware corporation (the “Transaction”).

Universal life insurance is a type of permanent life insurance coverage, offering both a death benefit and a cash value component. The policy will remain in effect for the lifetime of the insured individual, as long as the premiums are paid on time.

Universal policies typically don't have fixed interest rates, so they are less predictable than whole life insurance policies. If you miss a payment on a universal life policy or don't contribute enough to the cash value, you may end up making several large payments to keep the coverage.

Cash value accumulates over time as you make regular payments toward your policy (these payments are known as premiums). You can typically borrow against your policy's cash value, which accumulates on a tax-deferred basis. The cash value is different from the policy's death benefit.