by John Darer CLU ChFC MSSC CeFT RSP CLTC
AM Best has downgraded the Financial Strength Rating (FSR) of Everlake Life Insurance Company and Everlake Assurance Company (collectively Everlake Life Group) to A (Excellent) from A+ (Superior), and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a+” (Excellent) from “aa-” (Superior). Both companies are based in Northbrook, IL. The outlook for these ratings has been revised to stable from negative.
A.M. Best Downgrades Credit Ratings of Everlake Life Group Members May 9, 2024
In or about March 2013, Allstate LIfe Insurance Company ceased writing structured settlement annuities. In November 2021, Allstate Life Insurance Company was “sold to certain subsidiaries managed by Blackstone” and renamed Everlake Life Insurance Company, based in Northbrook, IL For details please read my prior blog Allstate Life Structured Settlements | What You Need To Know (4structures.com) Last updated April 1, 2023
Following the downgrade, Everlake announced new servicing arrangements to improve efficiencies for the life and annuity runoff business. See Everlake Life Structured Settlements New Servicing Company Details (4structures.com) May 20, 2024
Beware Prowling Cash Now Predators targeting Everlake Structured Settlement Annuitants
If you are receiving structured settlement payments from Everlake Life Insurance Company beware of lurking structured settlement factoring predators seeking to take advantage of your fears . That’s what happened in 2013. Just tell the hell hounds to knock it off. You’re already dealing with “877-CASH-NO!”
