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Website: http://www.allstate.com The Allstate Corporation is the nation's largest publicly held personal lines insurer. Allstate sells 13 major lines of insurance, including auto, property, life and commercial. Allstate also offers retirement and investment products and banking services. Allstate is widely known through the "You're In Good Hands With Allstate" slogan. The company serves 17 million households and insures one out of every eight homes and one out of every nine autos in the U.S. It is also one of the country's top life insurers. It has operations in 49 states and Canada. Allstate was founded in 1931 as part of Sears, Roebuck & Co. Sears President Robert Wood decided to sell auto insurance to customers by mail. The name Allstate was borrowed from an automobile tire in a Sears catalog. With the backing of Sears, the business took off. Allstate became a publicly traded company in 1993 and totally independent from Sears in 1995. Allstate reported 2007 revenues of $36.76 billion, up 2%, and net income of $4.63 billion. The company reports assets of $157.5 billion. In 2007, Allstate paid $17.6 billion in total Property-Liability insurance claims and claims expenses. Allstate has 14,900 agents and financial specialists. The company says of its total workforce, 28.5% are minorities and 59.3% are women. Benefits Medical - Generally, employees may choose between point-of-service (POS) or indemnity coverage, depending on where they live, and an HMO option. There are three POS options to choose from: Buy-Up, Standard and Catastrophic. Dental - Comprehensive coverage for many restorative and reconstructive services are offered. This also includes orthodontic benefits for eligible dependents, and 100 percent coverage for preventive care. Vision - The plan covers periodic exams, eyeglass lenses and frames, or contact lenses, up to a designated dollar amount. Employee Life Insurance - Provides options up to five times an employee's Qualified Annual Earnings (QAE). Evidence of insurability rules may apply. Dependent Life Insurance - Dependent Life Insurance offers two levels of coverage for your spouse and/or eligible dependent children. Accidental Death & Dismemberment (AD&D) Insurance - AD&D insurance coverage is provided at no cost. The benefit amount is two times Qualified Annual Earnings, up to $300,000. Long Term Disability (LTD) Insurance - Long term disability insurance provides benefits to participants who become totally disabled and cannot work for an extended period of time. The LTD plan offers two options: a 90-day or 140-day waiting period. Evidence of insurability rules may apply. Health Care Flexible Spending Account - Eligible employees can contribute up to $3,000 per year in pre-tax dollars to help pay for eligible health care expenses. Dependent Day Care Flexible Spending Account - Eligible employees can contribute up to $5,000 per year in pre-tax dollars to help pay for eligible dependent day care expenses. Group Legal - This plan provides access to a nationwide network of attorneys who can provide assistance with covered legal questions or problems. Allstate Retirement Plan - The pension plan provides retirement benefits, at no cost, to eligible employees based on their eligible compensation and years of service with Allstate. Employees are vested after 5 years. Profit Sharing Fund with 401(k) options - Pre-tax [i.e., 401(k)] and after-tax employee deposit options are available. Eligible employees can contribute from 1 percent to 50 percent of their annual income; the maximum amount for 2005 is $14,000. On pre-tax deposits of up to 5 percent of pay, a fixed Company Contribution is made, along with one that varies based on the Company's performance. The minimum amount the company will contribute is 50 cents and the maximum is $1.50. All Company Contributions are made in the form of Allstate stock. The Fund offers several investment options, along with the ability to make changes to your account on a daily basis. Subject to the Fund's terms, loans are available and rollovers will be accepted from other qualified employer plans Time Off - The company offers a Paid Time Off Bank for vacation, sick and personal days each year,. This amount is based on the following years of service:
Updated February 22, 2008
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