Carrier

Everlake secondary market annuities

Everlake Life Insurance Company is the former Allstate Life Insurance Company, renamed in 2021 after Allstate sold its life business. The structured settlement annuities Allstate Life issued over the decades are now Everlake's obligation — the paper changed names, not promises.

Everlake Life Insurance Company · Everlake Assurance Company

Lineage: Allstate Life (est. 1957)
Renamed: 2021
Headquarters: Northbrook, Illinois

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What it means

Backed by Everlake

When a payment stream is backed by Everlake, the scheduled payments are that carrier's obligation. You are buying the right to receive those payments — transferred through a court-approved process — at a discount, not a new insurance contract, and the difference between what you pay and what you collect is your yield. Read more about the asset itself on our secondary market annuities guide.

Because the income depends on Everlake continuing to pay, the carrier's financial strength is your protection. These payment rights are not FDIC-insured and generally are not covered by a state guaranty association, so we place only top-rated carriers and show the current rating on every listing. Where a Everlake-backed stream sits against CDs, Treasuries, and new annuities is laid out on our comparison page.

The company

A brief history

For over sixty years, Allstate Life Insurance Company wrote life insurance and annuities inside the Allstate group, including a substantial book of structured settlement annuities funding court-approved settlements. If a payment stream traces to an Allstate-settled injury case, this is usually the entity that issued the annuity.

In 2021, Allstate sold Allstate Life Insurance Company to investors managed by Blackstone, and the company was renamed Everlake Life Insurance Company. The in-force policies and annuities were not transferred away or altered by the rename: the same legal entity continues to owe the same scheduled payments, under a new name and ownership.

For an investor, the practical point is simple: a stream described as Allstate-backed and one described as Everlake-backed are typically the same obligation. Each listing shows the issuing entity and its current financial-strength rating as of the listing date — review it before you commit.

Name history

Allstate Life Insurance Company → Everlake Life Insurance Company (2021, after Allstate sold the unit to investors managed by Blackstone)

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Current Everlake-backed income options

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GuaranteedNo. QJ006536

Everlake

5.70%estimated yield

Purchase price: $257,991.29
Total scheduled: $350,000.00
Payment window: Jul 2028 – Jul 2035

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Everlake payment stream questions

What happened to Allstate Life Insurance Company?

It was sold by Allstate in 2021 to investors managed by Blackstone and renamed Everlake Life Insurance Company. The same legal entity continues to stand behind the policies and annuities it issued, including structured settlement annuities.

Is an Everlake-backed payment stream the same as an Allstate one?

Usually, yes — Everlake is the renamed Allstate Life Insurance Company, so an annuity issued by Allstate Life is now an Everlake obligation. The listing always names the exact issuing entity so you can confirm which company stands behind the schedule.

Are Everlake secondary market annuities safe?

The payments on a Everlake-backed stream are that carrier's obligation, so its financial strength is your protection. These payment rights are not FDIC-insured and generally are not covered by a state guaranty association, which is why we place only top-rated carriers and show Everlake's current rating on every listing. Review the issuer's rating before you commit.

How do I buy a Everlake payment stream?

Browse current inventory, and when a Everlake-backed listing fits, reserve it by its contract number. The right to receive the payments is assigned to you through a court-approved transfer, and the scheduled payments then arrive direct to you. Registering a free account unlocks full terms and investor pricing.

What yield do Everlake-backed streams pay?

Effective yields on current inventory run roughly 4 to 7 percent, depending on the category, the term, and the specific listing rather than on the carrier alone. Each Everlake listing shows its own yield, purchase price, and full payment schedule.

What these assets are, and what they are not

Guaranteed and life-contingent structured settlement payment rights, and lottery payment rights, represent the right to receive factored payments that Pacific Structured Assets purchases and assigns to investors through a court-approved process. They are purchased at a discount to their total scheduled payments.

These payment rights are NOT annuities, NOT insurance products, and NOT securities registered with the U.S. Securities and Exchange Commission. They are not bank deposits, are not FDIC-insured, and are not protected by any state insurance guaranty association. The industry term “secondary market annuity” refers to these payment rights and does not mean you are purchasing an insurance annuity contract.

You acquire the right to receive the payments, not the underlying annuity. The annuity itself does not change hands. Unlike the original structured settlement annuity, which may be shielded from creditors under applicable law, the assigned payment rights you purchase generally do not carry that creditor or bankruptcy protection.

Assigned annuities, offered as a separate product line, are existing insurance annuity contracts reassigned to a new owner through a change of ownership or an irrevocable change of payee.

These are long-term holdings with limited liquidity, and may not be suitable for every investor. There is no public trading market and no daily price. Resale or reassignment of a payment stream to another buyer may be possible, and Pacific Structured Assets can assist, but a resale is not guaranteed and the price it would bring is not guaranteed. Because the payments are fixed, that resale value moves with prevailing interest rates: an investor could realize a gain if rates have fallen since purchase, or a loss if rates have risen. These holdings are best suited to capital an investor can commit for the long term. Nothing on this website is tax, legal, financial, or investment advice. Consult your own advisors before investing.

Pacific Structured Assets, Inc. is an independent company. We are not affiliated with, endorsed by, sponsored by, or otherwise connected to any insurance company, annuity issuer, state lottery, or other payment obligor named on this website. Issuer and carrier names are used solely to identify the entity obligated to make the scheduled payments on a particular payment stream. All company names, trademarks, and service marks are the property of their respective owners; their appearance here is for identification purposes only and does not imply any partnership, agency, sponsorship, endorsement, or other business relationship. No issuer named on this website has reviewed, approved, or endorsed any of its content.

Pacific Structured Assets, Inc. does not provide tax, legal, financial or accounting advice. The material on this website has been prepared for informational purposes only and is not intended to provide, and should not be relied on for, tax, legal, financial or accounting advice. You should consult your own tax, legal, financial or accounting advisors before engaging in any transaction, including the acquisition of factored structured settlement payments. Pacific Structured Assets is not registered with the Securities and Exchange Commission and is not licensed to sell insurance in any state.

Pacific Structured Assets

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