UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported) March 3, 2004

Allstate Life Insurance Company
(Exact Name of Registrant as Specified in Charter)
Illinois	0-31248	36-2554642
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification Number)
3100 Sanders Road, Northbrook, Illinois		60062
(Address of Principal Executive Offices)		(Zip Code)
Registrant’s telephone number, including area code (847) 402-5000

Item 9.    Regulation FD Disclosure

The registrant furnishes below its Consolidated Statements of Operations for the three years ended December 31, 2003, 2002 and 2001 and Consolidated Statements of Financial Position as of December 31, 2003 and 2002, prepared in conformity with accounting principles generally accepted in the United States of America.

ALLSTATE LIFE INSURANCE COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS

	Year Ended December 31,
(in millions)	2003			2002			2001
	Est.
Revenues
Premiums (net of reinsurance ceded of $418, $393 and $323)	$	959		$	1,023		$	1,046
Contract charges	872			853			821
Net investment income	3,082			2,978			2,833
Realized capital gains and losses	(84		)	(422		)	(207		)
	4,829			4,432			4,493
Costs and expenses
Life and annuity contract benefits (net of reinsurance recoverable of $336, $387 and $277)	1,595			1,543			1,485
Interest credited to contractholder funds	1,764			1,691			1,670
Amortization of deferred policy acquisition costs	479			418			365
Operating costs and expenses	493			475			416
	4,331			4,127			3,936
Loss on disposition of operations	(45		)	(3		)	(4		)
Income from operations before income tax expense and cumulative effect of change in accounting principle, after-tax	453			302			553
Income tax expense	162			57			179
Income before cumulative effect of change in accounting principle, after-tax	291			245			374
Cumulative effect of change in accounting principle, after-tax	(13		)	—			(6		)
Net income	$	278		$	245		$	368

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ALLSTATE LIFE INSURANCE COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

	December 31,
(in millions, except par value data)	2003		2002
	Est.
Assets
Investments
Fixed income securities, at fair value (amortized cost $48,401 and $41,723)	$	51,578	$	44,805
Mortgage loans	6,354		5,883
Equity securities	164		183
Short-term	765		839
Policy loans	686		692
Other	442		268
Total investments	59,989		52,670
Cash	121		252
Deferred policy acquisition costs	3,202		2,915
Reinsurance recoverables, net	1,185		1,046
Accrued investment income	567		534
Other assets	323		304
Separate Accounts	13,425		11,125
Total assets	$	78,812	$	68,846
Liabilities
Contractholder funds	$	44,914	$	38,858
Reserve for life-contingent contract benefits	10,480		9,733
Unearned premiums	32		24
Payable to affiliates, net	114		80
Other liabilities and accrued expenses	2,594		1,956
Deferred income taxes	779		708
Long-term debt	45		—
Separate Accounts	13,425		11,125
Total liabilities	72,383		62,484
Shareholder’s Equity
Redeemable preferred stock – series A, $100 par value, 1,500,000 shares authorized, 815,460 and 930,650 shares issued and outstanding	82		93
Redeemable preferred stock – series A subscriptions receivable	—		—
Common stock, $227 par value, 23,800 shares authorized and outstanding	5		5
Additional capital paid-in	1,067		1,067
Retained income	4,222		4,145
Accumulated other comprehensive income:
Unrealized net capital gains and losses and net gains and losses on derivative financial instruments	1,053		1,052
Total accumulated other comprehensive income	1,053		1,052
Total shareholder’s equity	6,429		6,362
Total liabilities and shareholder’s equity	$	78,812	$	68,846

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

ALLSTATE LIFE INSURANCE COMPANY
By	/s/ Samuel H. Pilch
Name:  Samuel H. Pilch
Title:    Controller

March 3, 2004

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