Term Exchange Program

Customer Q&A for Allstate Exchange Program


What is the Allstate Exchange Program?

The Allstate Exchange Program gives eligible Lincoln Benefit Life Company (LBL) term insurance customers, like you, the option to exchange your policy to an Allstate permanent life insurance plan. This exchange right is in addition to your existing right to convert to an LBL permanent product. The Allstate Exchange Program was a condition of the sale of LBL from Allstate to Resolution Life per the Nebraska Department of Insurance.

How long do I have to decide if I want to participate in the Allstate exchange program? Is it the same amount of time as my LBL conversion period?

  • If your LBL term conversion rights have expired since April 1, 2014 or will expire on or before July 15, 2015, you have until July 31, 2015 to exchange your LBL term product to an eligible Allstate permanent product.
  • If your LBL term conversion rights will expire on July 16, 2015 or later, your exchange right expires at the same time as your LBL term conversion right.

Do I have to go through new underwriting in order to get an Allstate permanent life policy?

No, new underwriting or tests are not required in order to exchange your LBL term insurance policy to an Allstate permanent policy.  This is the same as converting your LBL term insurance policy to an LBL permanent policy – new underwriting or tests are not required.

How can I get more information on this exchange program?

To obtain additional information on the exchange program, please contact LBL Customer Service at 866-251-1682 or by sending an email to service@lbl.com.

What products are available to me and how would they fit my needs?

The products available to you differ by state and by age.  Please contact your agent or LBL Customer Service to find out what is available to you.

Will I be able to keep my same agent if I exchange to an Allstate policy?

No, if you choose to exchange to an Allstate policy, then the Allstate home office will become your servicing agent.  However, your current agent can continue to work with you to make sure your other financial needs are met.

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