This is really no suprise. To all those impacted think about how this business was actually run.....
Rates of Life products where some of the higher ones compared to competitors and you actually have to move Autos to sell life. Auto rates are out of alignment.
To me, the most absolute joke of Allstate Life was during the start of the pandemic, Allstate stopped writing life for 95% of their life insurance products. Additionally I don’t think they started writing most types of policies for several months after and had a lot of requirements/limitations. When the Good Hands could have been there for more people they turned off the valve of protection for human lives. They didn’t want to adversely select too many clients who could Get Covid 19. To say Allstate is so greedy is an understatement.
I remember being in a sales meeting one year and one of the leaders had to review how we cannot write policies on refugees, illegals, and people from quote un quote p–p hole countries like President Trump once stated. It was awful to see how there was never a solution. Eventually we could write some policies of 250k 10 year terms but it had to be to an “approved country”. Being captive really s—ed on the life side and many were handcuffed to our products only. Crump helped out sometimes for non standard but going Indy should have happened years ago.
I hope this move actually helps the agents and company but they invested a lot of money to create their own life company. Selling it off means admitting failure and that reflects 100% on strategy set by Allstate Corporate and the BOD. Great job Allstate Corporate!!!! Now you broker to 3 new companies. Should have happened from the start!