Document:

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                                                                    EXHIBIT 10.2

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                         SUPPORT AND EXPENSES AGREEMENT

                                     BETWEEN

                         ALLSTATE LIFE INSURANCE COMPANY

                                       AND

                          ALLSTATE LIFE GLOBAL FUNDING

                            DATED AS OF JUNE 27, 2002

================================================================================

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                                TABLE OF CONTENTS

<Table>
<Caption>
                                                                                       PAGE
  <S>            <C>                                                                      <C>
                                    ARTICLE 1
                 DEFINITIONS; OTHER DEFINITIONAL PROVISIONS

  SECTION 1.1    DEFINITIONS..............................................................1
  SECTION 1.2    OTHER DEFINITIONAL PROVISIONS............................................3

                                    ARTICLE 2
                                 REPRESENTATIONS

  SECTION 2.1    GENERAL..................................................................4

                                    ARTICLE 3
                                   OBLIGATIONS

  SECTION 3.1    PAYMENT OF OBLIGATIONS...................................................4
  SECTION 3.2    AMENDED OR ADDITIONAL ARRANGEMENTS.......................................5
  SECTION 3.3    WAIVER OF NOTICE.........................................................5
  SECTION 3.4    NO IMPAIRMENT............................................................5
  SECTION 3.5    ENFORCEMENT..............................................................6
  SECTION 3.6    SUBROGATION..............................................................6
  SECTION 3.7    ACTIONS; NOTIFICATION....................................................6
  SECTION 3.8    SETTLEMENT WITHOUT CONSENT...............................................7
  SECTION 3.9    THIRD PARTY BENEFICIARIES................................................7

                                    ARTICLE 4
                               GENERAL PROVISIONS

  SECTION 4.1    BINDING EFFECT...........................................................7
  SECTION 4.2    AMENDMENTS; ASSIGNMENTS..................................................7
  SECTION 4.3    TERM OF AGREEMENT........................................................7
  SECTION 4.4    NOTICES..................................................................8
  SECTION 4.5    GOVERNING LAW............................................................8
  SECTION 4.6    CONSENT TO JURISDICTION..................................................8
  SECTION 4.7    WAIVER OF JURY TRIAL.....................................................9
  SECTION 4.8    COUNTERPARTS.............................................................9
  SECTION 4.9    SEVERABILITY.............................................................9
  SECTION 4.10   ENTIRE AGREEMENT.........................................................9
  SECTION 4.11   NO WAIVER................................................................9
  SECTION 4.12   REMEDIES CUMULATIVE......................................................9
  SECTION 4.13   LIMITATION OF DELAWARE TRUSTEE LIABILITY.................................9
</Table>

EXHIBIT A   NOTICE OF OBLIGATION

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          This SUPPORT AND EXPENSES AGREEMENT, dated as of June 27, 2002 (this
"SUPPORT AND EXPENSES AGREEMENT"), is entered into between Allstate Life
Insurance Company, an Illinois stock life insurance company ("ALLSTATE LIFE")
and Allstate Life Global Funding, a statutory business trust organized in series
under the laws of the State of Delaware and acting hereunder with respect to
each series of the statutory business trust (the "ISSUER").

          WHEREAS, the Issuer intends to establish a program (the "PROGRAM") for
the continuous issuance of medium term notes (the "NOTES") pursuant to the
Indenture; and

          WHEREAS, the Issuer desires to use the proceeds of the Notes to
purchase funding agreements to be issued by Allstate Life (each, a "FUNDING
AGREEMENT").

          NOW THEREFORE, in consideration of the premises and covenants set
forth in this Support and Expenses Agreement, the parties agree as follows:

                                   ARTICLE 1
                   DEFINITIONS; OTHER DEFINITIONAL PROVISIONS

     SECTION 1.1    DEFINITIONS. The following terms, as used herein, have the
following meanings:

          "ADMINISTRATOR" means AMACAR Pacific Corp. and its successors.

          "AFFILIATE" means, as applied to any Person, any other Person directly
or indirectly controlling, controlled by, or under common control with, that
Person and, in the case of an individual, any spouse or other member of that
individual's immediate family. For the purposes of this definition, "control"
(including with correlative meanings, the terms "controlling", "controlled by",
and "under common control with"), as applied to any Person, means the
possession, directly or indirectly, of the power to direct or cause the
direction of the management and policies of that Person, whether through the
ownership of voting securities, by contract or otherwise.

          "ALLSTATE LIFE" has the meaning ascribed in the first paragraph of
this Support and Expenses Agreement.

          "BUSINESS DAY" means a day (other than a Saturday, Sunday or legal
holiday) on which commercial banks in the City of New York, the Borough of
Manhattan and Cook County, State of Illinois, are open for business.

          "DEALER" means any dealer appointed by the Issuer to sell any of the
Notes.

          "DELAWARE TRUSTEE" means Wilmington Trust Company, not in its
individual capacity but solely as trustee, and its successors.

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          "EXCLUDED AMOUNTS" means (i) any obligation of the Issuer to make any
payment to any Holder in accordance with the terms of the Notes, (ii) any
obligation or expense of the Issuer to the extent that such obligation or
expense has actually been paid utilizing funds available to the Issuer from
payments under the Funding Agreements, (iii) any cost, loss, damage, claim,
action, suit, expense, disbursement, tax, penalty and liability of any kind or
nature whatsoever resulting from or relating to any insurance regulatory or
other governmental authority asserting that: (a) the Notes are, or are deemed to
be, (1) participations in the Funding Agreements or (2) contracts of insurance,
or (b) the offer, purchase, sale and/or transfer of the Notes (1) constitute the
conduct of the business of insurance or reinsurance in any jurisdiction or (2)
require the Issuer, any Dealer or any Holder to be licensed as an insurer,
insurance agent or broker in any jurisdiction, (iv) any obligation of the Issuer
to indemnify Allstate Life or any of its Affiliates under any other agreement
between the Issuer on the one hand and any of them on the other hand, (v) any
obligation of Allstate Life to pay any Additional Amounts (as defined in such
Funding Agreement) pursuant to the terms of the Funding Agreements and (vi) any
cost, loss, damage, claim, action, suit, expense, disbursement, tax, penalty and
liability of any kind or nature whatsoever resulting from or relating to the
acts or failures to act of any Service Provider to the extent that such Service
Provider would not be entitled to indemnification or payment from the Issuer in
connection with any such act or failure to act pursuant to the terms of any
arrangements between the Issuer and such Service Provider in effect on the date
of this Support and Expenses Agreement.

          "FUNDING AGREEMENT" has the meaning ascribed in the second recital of
this Support and Expenses Agreement.

          "HOLDER" or "NOTEHOLDER" means any holder of the Notes.

          "INDENTURE" means the indenture to be entered into between the Issuer
and the Indenture Trustee before any Notes are issued, as the same may be
amended, modified, restated, supplemented and/or replaced from time to time.

          "INDENTURE TRUSTEE" means Bank One, National Association and its
successors.

          "ISSUER" has the meaning ascribed in the first paragraph of this
Support and Expenses Agreement.

          "NOTES" has the meaning ascribed in the first recital of this Support
and Expenses Agreement.

          "NOTICE OF OBLIGATION" means the instrument evidencing an Obligation
of the Issuer in, or substantially in, the form attached as Exhibit A.

          "OBLIGATIONS" means any and all of the costs, losses, damages, claims,
actions, suits, expenses (including the reasonable fees and expenses of
counsel), disbursements, taxes, penalties and liabilities of any kind or nature
of the Issuer except the Excluded Amounts; provided, however, with respect to
the Delaware Trustee and the

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Administrator, only items (i), (ii) and (vi) of the definition of Excluded
Amounts shall apply.

          "PERSON" means any natural person, corporation, limited partnership,
general partnership, joint stock company, limited liability company, joint
venture, association, company, trust (including any beneficiary thereof), bank,
trust company, land trust, business trust or other organization, whether or not
a legal entity, and governments and agencies and political subdivisions thereof.

          "PROCEEDING" has the meaning ascribed in Section 3.7(a).

          "PROGRAM" has the meaning ascribed in the first recital of this
Support and Expenses Agreement.

          "SERVICE PROVIDER" means any of the Administrator, the Delaware
Trustee and the Indenture Trustee, and any other agent or provider of services
to the Issuer, in each case acting in such capacity with respect to the Notes.

          "SUPPORT AND EXPENSES AGREEMENT" means this instrument as originally
executed and delivered as this instrument may be amended, modified, restated,
supplemented and/or replaced from time to time.

     SECTION 1.2    OTHER DEFINITIONAL PROVISIONS. For all purposes of this
Support and Expenses Agreement, except as otherwise expressly provided or unless
the context otherwise requires:

          (a)  the terms defined in this Article 1 shall have the meanings
               ascribed to them in this Article 1 and shall include the plural
               as well as the singular;

          (b)  the words "include", "includes" and "including" shall be
               construed to be followed by the words "without limitation";

          (c)  Article and Section headings are for the convenience of the
               reader and shall not be considered in interpreting this Support
               and Expenses Agreement or the intent of the parties hereto;

          (d)  the words "herein", "hereof" and "hereunder" and other words of
               similar import refer to this Support and Expenses Agreement as a
               whole and not to any particular Article, Section or other
               subdivision; and

          (e)  references herein to Articles and Sections shall, unless
               otherwise specified, refer respectively to Articles and Sections
               hereof.

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                                   ARTICLE 2
                                 REPRESENTATIONS

     SECTION 2.1    GENERAL. Each party hereto represents and warrants to the
other that as of the date hereof:

          (a)  it has the power to enter into this Support and Expenses
               Agreement and to consummate the transactions contemplated hereby;

          (b)  it has duly authorized, executed and delivered this Support and
               Expenses Agreement;

          (c)  assuming the due authorization, execution and delivery of this
               Support and Expenses Agreement by the other party, this Support
               and Expenses Agreement constitutes a legal, valid and binding
               obligation of the representing party;

          (d)  this Support and Expenses Agreement is enforceable against the
               representing party in accordance with the terms hereof, subject
               to applicable bankruptcy, insolvency and similar laws affecting
               creditors' rights, and subject as to enforceability to general
               principles of equity, regardless of whether enforcement is sought
               in a proceeding in equity or at law; and

          (e)  its execution and delivery of this Support and Expenses
               Agreement, consummation by it of the transactions contemplated
               hereby and the performance of its obligations hereunder do not
               and will not constitute or result in a default, breach or
               violation of the terms or provisions of its organizational
               documents or any material indenture, contract, agreement,
               instrument, mortgage, judgment, injunction or order applicable to
               which it is a party or by which any of its properties may be
               bound.

                                    ARTICLE 3
                                   OBLIGATIONS

     SECTION 3.1    PAYMENT OF OBLIGATIONS.

          (a)  Allstate Life hereby irrevocably and unconditionally agrees to
               indemnify the Issuer against, and to pay all Obligations within
               two Business Days of receipt of the applicable Notice of
               Obligation, subject only to the terms and conditions of this
               Support and Expenses Agreement.

          (b)  Allstate Life hereby agrees to pay any amount due under this
               Support and Expenses Agreement in the currency in which the
               related Obligation originated.

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          (c)  Allstate Life and the Issuer hereby agree that all payments due
               under this Section 3.1 in respect of any Obligation shall be
               effected, and any responsibility of Allstate Life to pay such
               Obligation pursuant to the indemnity provided to the Issuer in
               this Support and Expenses Agreement shall be discharged, by the
               payment by Allstate Life, at the order of the Issuer, to the
               account of the person to whom such Obligation is owed, as
               specified in the applicable Notice of Obligation.

     SECTION 3.2    AMENDED OR ADDITIONAL ARRANGEMENTS. The Issuer will not,
without the prior written approval of Allstate Life (a) enter into or amend,
modify, restate, and/or supplement any compensation or indemnification
arrangements with respect to the Program or (b) waive any of its rights under
any compensation or indemnification provisions under the Program.

     SECTION 3.3    WAIVER OF NOTICE. Allstate Life hereby waives notice of any
fact or circumstance that could give rise to the payment of any Obligation under
Section 3.1 and, except as provided herein, Allstate Life also waives
presentment, demand for payment, protest, notice of nonpayment, notice of
dishonor, notice of redemption and all other notices and demands.

     SECTION 3.4    NO IMPAIRMENT. The obligations, covenants, agreements and
duties of Allstate Life under this Support and Expenses Agreement will in no way
be affected or impaired by reason of the happening from time to time of any of:

          (a)  the extension of time for the payment of all or any portion of
               any Obligation or for the performance of any other obligation
               arising under, out of, or in connection with, any Obligation;

          (b)  any failure, omission, delay or lack of diligence on the part of
               the Issuer to enforce, assert or exercise any right, privilege,
               power or remedy conferred on the Issuer with respect to any
               Obligation or any action on the part of the Issuer granting
               indulgence or extension of any kind;

          (c)  the voluntary or involuntary liquidation, dissolution, sale of
               any collateral, receivership, insolvency, bankruptcy, assignment
               for the benefit of creditors, reorganization, arrangement,
               composition or readjustment of debt of, or other similar
               proceedings affecting, the Issuer or any of the assets of the
               Issuer;

          (d)  the existence of any claim, set-off or other rights that Allstate
               Life may have at any time against the Issuer; PROVIDED, that
               nothing herein shall prevent the assertion of any such claim by
               separate suit or compulsory counterclaim; or

          (e)  any other act or omission to act or delay of any kind by the
               Issuer or any other Person or any other circumstance whatsoever
               which

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               might, but for the provisions of this Section 3.4(e), constitute
               a legal or equitable discharge of or defense to Allstate Life's
               obligations hereunder.

     SECTION 3.5    ENFORCEMENT. Notwithstanding any rights granted to Allstate
Life under Section 3.9, Allstate Life waives any right or remedy to require that
any action be brought against any Person prior to the assertion of a claim under
this Support and Expenses Agreement.

     SECTION 3.6    SUBROGATION. Upon, and subject to, the payment by Allstate
Life of any Obligation:

          (a)  Allstate Life shall be subrogated to all of the rights, interests
               and remedies, if any, of the Issuer in respect of such
               Obligation; and

          (b)  the Issuer will (i) from time to time execute all such
               instruments and other agreements and take all such other actions
               as may be necessary or desirable, or that Allstate Life may
               request, to protect any interest of Allstate Life with respect to
               any Obligation or to enable Allstate Life to exercise or enforce
               any right, interest or remedy it may have with respect to any
               such Obligation and (ii) release to Allstate Life any amount
               received relating to any Obligation, or any portion of any
               Obligation, immediately after any such amount relating to such
               Obligation, or any portion of any such Obligation, is received by
               the Issuer.

     SECTION 3.7    ACTIONS; NOTIFICATION.

          (a)  The Issuer shall give prompt written notice to Allstate Life of
               any litigation, or any investigation or proceeding by any
               governmental agency or body or other Person, whether commenced or
               threatened, against the Issuer that may give rise to any
               Obligation (each, a "PROCEEDING"), but the Issuer's failure to so
               notify Allstate Life shall not relieve Allstate Life from any
               liability which it may have otherwise under this Support and
               Expenses Agreement unless the failure to so notify had an adverse
               impact on Allstate Life.

          (b)  Allstate Life may, in its sole discretion, elect to assume the
               defense of the Issuer in any Proceeding that could give rise to
               any Obligation, and if it so elects, Allstate Life shall select
               counsel reasonably acceptable to the Issuer to represent the
               Issuer in such Proceeding and pay the fees and expenses of such
               counsel. In any Proceeding, the Issuer shall have the right to
               retain its own counsel, but the fees and disbursements of such
               counsel shall not constitute an Obligation unless (i) Allstate
               Life and the Issuer shall have mutually agreed to the retention
               of such counsel or (ii) the named parties to any such Proceeding
               (including any impleaded

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               parties) include both Allstate Life and the Issuer, and
               representation of both parties by the same counsel would be
               inappropriate due to actual or potential differing interests
               between them. In no event shall Allstate Life be liable for fees
               and expenses of more than one counsel (in addition to any local
               counsel) for the Issuer in connection with any one action or
               separate but similar or related actions in the same jurisdiction
               arising out of the same general allegations or circumstances.

     SECTION 3.8    SETTLEMENT WITHOUT CONSENT. The Issuer may not settle any
Proceeding without the consent of Allstate Life.

     SECTION 3.9    THIRD PARTY BENEFICIARIES. Allstate Life understands and
agrees that each Service Provider (including such parties in their respective
individual capacity) shall be a third party beneficiary of the indemnity
provided under this Support and Expenses Agreement, subject to the limitations
on such indemnity provided in this Support and Expenses Agreement. No other
Person shall have any legal or equitable right, remedy or claim under or in
respect of this Support and Expenses Agreement or any covenants, conditions or
provisions contained herein.

                                    ARTICLE 4
                               GENERAL PROVISIONS

     SECTION 4.1    BINDING EFFECT. All obligations, covenants, agreements and
duties contained in this Support and Expenses Agreement shall bind the permitted
successors and assigns, and receivers, trustees and representatives of each of
Allstate Life and the Issuer.

     SECTION 4.2    AMENDMENTS; ASSIGNMENTS.

          (a)  This Support and Expenses Agreement will not be amended,
               modified, restated, supplemented or replaced in any manner,
               except with the unanimous written consent of the Issuer, Allstate
               Life, the Administrator, the Delaware Trustee and the Indenture
               Trustee.

          (b)  Neither this Support and Expenses Agreement nor any title, right
               or interest in this Support and Expenses Agreement may be sold,
               transferred, assigned, hypothecated or alienated in any manner
               whatsoever, except with the express written consent of the Issuer
               and Allstate Life.

     SECTION 4.3    TERM OF AGREEMENT. This Support and Expenses Agreement shall
terminate and be of no further force and effect upon the later of (a) the date
on which full payment has been made of all amounts payable to each Holder in
accordance with the terms of the Notes, whether upon maturity, redemption or
otherwise, and (b) the date on which there is no Obligation due and payable
under this Support and Expenses Agreement. Unless and until this Support and
Expenses Agreement is terminated as

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specified in this Section 4.3, this Support and Expenses Agreement will be
continuing, irrevocable, unconditional and absolute.

     SECTION 4.4    NOTICES. All demands, notices, instructions or other
communications required or permitted to be given hereunder shall be given in
writing by delivering the same against receipt by facsimile transmission
(confirmed by registered or certified mail, postage prepaid, return receipt
requested), or by registered or certified mail, postage prepaid, return receipt
requested, addressed as follows (and if so given, shall be deemed given when
mailed or upon receipt of a confirmation, if sent by facsimile):

          If to the Issuer, to:

          Allstate Life Global Funding
          c/o AMACAR Pacific Corp.
          6525 Morrison Boulevard, Suite 318
          Charlotte, North Carolina
          Attention: Douglas K. Johnson
          Facsimile: (704) 365-1632

          If to Allstate Life, to:

          Allstate Life Insurance Company
          3100 Sanders Road, Suite M3A
          Northbrook, Illinois 60062
          Attention: Assistant Vice President, Institutional Markets
          Facsimile: (847) 326-6289

     SECTION 4.5    GOVERNING LAW. This Support and Expenses Agreement shall be
governed by, and construed in accordance with, the laws of the State of New
York, without regard to its choice of law principles.

     SECTION 4.6    CONSENT TO JURISDICTION. Each party to this Support and
Expenses Agreement submits for itself and in connection with its properties,
generally and unconditionally, to the nonexclusive jurisdiction of the United
States Federal court located in the City of New York, the Borough of Manhattan
for purposes of any legal proceeding arising out of or relating to this Support
and Expenses Agreement or the transactions contemplated hereby. Each party to
this Support and Expenses Agreement irrevocably waives, to the fullest extent
permitted by law, any objection which it may now or hereafter have to the laying
of the venue of any such proceeding brought in such a court and any claim that
any such proceeding brought in such a court has been brought in an inconvenient
forum. Each party to this Support and Expenses Agreement hereby consents to
process being served in any suit, action or proceeding with respect to this
Support and Expenses Agreement, or any document delivered pursuant hereto by the
mailing of a copy thereof by registered or certified mail, postage prepaid,
return receipt requested, to its respective address specified at the time for
notices under this Support and Expenses Agreement or to any other address of
which it shall have given written

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notice to the other party hereto. The foregoing shall not limit the ability of
any party hereto to bring suit in the courts of any other jurisdiction.

     SECTION 4.7    WAIVER OF JURY TRIAL. Each of the parties to this Support
and Expenses Agreement irrevocably and expressly waives any and all right to a
trial by jury with respect to any legal proceeding arising out of or relating to
this Support and Expenses Agreement or any claims or transactions in connection
herewith. Each of the parties hereto hereby acknowledges that such waiver is
made with full understanding and knowledge of the nature of the rights and
benefits waived hereby.

     SECTION 4.8    COUNTERPARTS. This Support and Expenses Agreement and any
amendments, modifications, restatements, supplements and/or replacements hereof,
or waivers or consents hereto, may be executed in any number of counterparts,
and by parties hereto in separate counterparts, each of which, when so executed
and delivered, shall be deemed to be an original and all of which counterparts,
when taken together shall constitute one in the same instrument. This Support
and Expenses Agreement shall become effective upon the execution of a
counterpart by each of the parties hereto.

     SECTION 4.9    SEVERABILITY. In the event any provision or obligation of
this Support and Expenses Agreement shall be invalid, illegal or unenforceable
in any jurisdiction, the validity, legality and enforceability of the remaining
provisions or obligations, or of such provision or obligation in any other
jurisdiction, shall not in any way be affected or impaired thereby to the
fullest extent permitted under applicable law.

     SECTION 4.10   ENTIRE AGREEMENT. This Support and Expenses Agreement
constitutes the entire agreement between the parties hereto relating to the
subject matter hereof, and supersedes all previous agreements between the
parties, whether written or oral.

     SECTION 4.11   NO WAIVER. No failure on the part of the parties hereto to
exercise, and no delay in exercising, and no course of dealing with respect to,
any right, power or privilege hereunder shall operate as a waiver thereof, nor
shall any single or partial exercise thereof or the exercise of any other right,
power or privilege operate as such a waiver.

     SECTION 4.12   REMEDIES CUMULATIVE. No right, power or remedy of the
parties hereunder shall be exclusive of any other right, power or remedy, but
shall be cumulative and in addition to any other right, power or remedy
thereunder or now or hereafter existing by law or in equity.

     SECTION 4.13   LIMITATION OF DELAWARE TRUSTEE LIABILITY. Notwithstanding
any provision hereof to the contrary, it is expressly understood and agreed by
the parties that (a) this Support and Expenses Agreement is executed and
delivered by Wilmington Trust Company, not individually or personally, but
solely as Delaware Trustee, in the exercise of the powers and authority
conferred and vested in it pursuant to the Trust Agreement, (b) each of the
representations, undertakings and agreements herein made on the part of the
Issuer is made and intended not as personal representations, undertakings and

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agreements by Wilmington Trust Company, but is made and intended for the purpose
of binding only the Issuer, (c) nothing herein contained shall be construed as
creating any liability on Wilmington Trust Company, individually or personally,
to perform any covenant either expressed or implied herein, all such liability,
if any, being expressly waived by the parties hereto and by any person claiming
by, through or under the parties hereto and (d) under no circumstances shall
Wilmington Trust Company be personally liable for the payment of any
indebtedness or expenses of the Issuer or be liable for the breach or failure of
any obligation, representation, warranty or covenant made or undertaken by the
Issuer under this Support and Expenses Agreement or any other related documents.

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          IN WITNESS WHEREOF, the parties have caused this Support and Expenses
Agreement to be executed by duly authorized representatives as of the day and
year first above written.

                                         ALLSTATE LIFE INSURANCE COMPANY

                                         By:  /s/ Sarah R. Donahue
                                            ------------------------------------
                                            Name:  Sarah R. Donahue
                                            Title: Assistant Vice President

                                         ALLSTATE LIFE GLOBAL FUNDING, acting
                                         hereunder with respect to each series

                                         By: WILMINGTON TRUST COMPANY, not in
                                         its individual capacity, but solely as
                                         Delaware Trustee

                                         By:   /s/ Donald G. MacKelcan
                                            ------------------------------------
                                            Name:  Donald G. MacKelcan
                                            Title: Vice President

                                       11
<Page>

                                                                       EXHIBIT A

                              NOTICE OF OBLIGATION

                                                Date:  -

BY [HAND OR OVERNIGHT] DELIVERY AND/OR FACSIMILE

Allstate Life Insurance Company
Office of the General Counsel
3100 Sanders Road
Northbrook, Illinois 60062
Telephone: -
Facsimile: -

Ladies and Gentlemen:

          Reference is hereby made to the Support and Expenses Agreement dated
as of June 27, 2002 (the "SUPPORT AGREEMENT") entered into between Allstate Life
Insurance Company, an Illinois stock life insurance company ("ALLSTATE LIFE")
and Allstate Life Global Funding, a statutory business trust organized in series
under the laws of the State of Delaware (the "ISSUER"). Capitalized terms used
in this notice (this "NOTICE OF OBLIGATION") and not otherwise defined have the
respective meanings ascribed in the Support Agreement.

          The Issuer hereby represents to Allstate Life that:

           (a) on -, the Issuer incurred an Obligation in an amount of $ -;

           (b) the Obligation resulted from -; and

           (c) all documents and instruments evidencing the Obligation are
               attached to this Notice of Obligation.

<Page>

          The Issuer hereby requests Allstate Life to pay the Obligation in
accordance with the Support Agreement to the following account:

           [Name of Bank:
           Account No.:
           Reference No.:]

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          IN WITNESS WHEREOF, the Issuer has executed and delivered this Notice
of Obligation as of the date first written above.

                                         ALLSTATE LIFE GLOBAL FUNDING

                                         By: Wilmington Trust Company, not in
                                         its individual capacity, but solely as
                                         Delaware Trustee

                                         By:
                                            ------------------------------------
                                            Name:
                                            Title:

                                       3<Page>

                                                                    EXHIBIT 10.3

================================================================================

                        ADMINISTRATIVE SERVICES AGREEMENT

                                     BETWEEN

                          ALLSTATE LIFE GLOBAL FUNDING

                                       AND

                              AMACAR PACIFIC CORP.

                            DATED AS OF JUNE 27, 2002

================================================================================

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                                TABLE OF CONTENTS

<Table>
<Caption>
                                                                                              PAGE
   <S>                                                                                          <C>
                                    ARTICLE 1
                   DEFINITIONS; OTHER DEFINITIONAL PROVISIONS

   SECTION 1.1.     DEFINITIONS..................................................................1
   SECTION 1.2.     OTHER DEFINITIONAL PROVISIONS................................................5

                                    ARTICLE 2
                    APPOINTMENT; ADMINISTRATIVE SERVICES

   SECTION 2.1.     APPOINTMENT..................................................................5
   SECTION 2.2.     ADMINISTRATIVE SERVICES......................................................5
   SECTION 2.3.     SUBCONTRACTING OF CERTAIN SERVICES...........................................8

                                    ARTICLE 3
          BUSINESS OF THE ISSUER; EMPLOYEES AND SUBCONTRACTORS; OFFICES

   SECTION 3.1.     BUSINESS OF THE ISSUER.......................................................8
   SECTION 3.2.     EMPLOYEES AND SUBCONTRACTORS.................................................8

                                    ARTICLE 4
                            COMPENSATION; INDEMNITIES

   SECTION 4.1.     COMPENSATION.................................................................9
   SECTION 4.2.     INDEMNITIES..................................................................9

                                    ARTICLE 5
                                      TERM

   SECTION 5.1.     TERM........................................................................10

                                    ARTICLE 6
                        OBLIGATION TO SUPPLY INFORMATION

   SECTION 6.1.     OBLIGATION TO SUPPLY INFORMATION............................................10

                                    ARTICLE 7
                 THE ADMINISTRATOR'S LIABILITY; STANDARD OF CARE

   SECTION 7.1.     ADMINISTRATOR'S LIABILITY...................................................11
   SECTION 7.2.     STANDARD OF CARE............................................................11
</Table>

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<Table>
   <S>                                                                                          <C>

                                    ARTICLE 8
                           LIMITED RECOURSE TO ISSUER

   SECTION 8.1.     LIMITED RECOURSE TO ISSUER..................................................11

                                    ARTICLE 9
                                   NO RECOURSE

   SECTION 9.1.     NO RECOURSE.................................................................12

                                   ARTICLE 10
               RELIANCE ON INFORMATION OBTAINED FROM THIRD PARTIES

   SECTION 10.1.    RELIANCE ON INFORMATION OBTAINED FROM THIRD PARTIES.........................12

                                   ARTICLE 11
                                  MISCELLANEOUS

   SECTION 11.1.    NOTICES.....................................................................12
   SECTION 11.2.    AMENDMENT...................................................................13
   SECTION 11.3.    NO JOINT VENTURE............................................................13
   SECTION 11.4.    ASSIGNMENT..................................................................13
   SECTION 11.5.    GOVERNING LAW...............................................................13
   SECTION 11.6.    CONSENT TO JURISDICTION.....................................................14
   SECTION 11.7.    WAIVER OF JURY TRIAL........................................................14
   SECTION 11.8.    EXECUTION IN COUNTERPARTS...................................................14
   SECTION 11.9.    LIMITATION OF DELAWARE TRUSTEE LIABILITY....................................14
   SECTION 11.10.   NO PETITION.................................................................15
   SECTION 11.11.   SEVERABILITY................................................................15
   SECTION 11.12.   ENTIRE AGREEMENT............................................................15
   SECTION 11.13.   ADMINISTRATOR TO PROVIDE INDENTURE TRUSTEE ACCESS TO BOOKS AND RECORDS......15
   SECTION 11.14.   NO WAIVER...................................................................15
   SECTION 11.15.   REMEDIES CUMULATIVE.........................................................15
</Table>

Exhibit A    Administration Fees

                                       ii
<Page>

          THIS ADMINISTRATIVE SERVICES AGREEMENT (this "ADMINISTRATIVE SERVICES
AGREEMENT") dated as of June 27, 2002 between Allstate Life Global Funding, a
statutory business trust organized in series under the laws of the State of
Delaware and acting hereunder with respect to each series of the statutory
business trust (the "ISSUER"), and AMACAR Pacific Corp., as administrator (in
such capacity, the "ADMINISTRATOR").

          WHEREAS, the Issuer desires to establish a program (the "PROGRAM") for
the issue from time to time of senior secured notes to be issued in one or more
series (the "NOTES"), each to be secured by the related collateral;

          WHEREAS, in connection with the issue of the Notes under the Program,
the Issuer desires to enter into the Indenture with the Indenture Trustee;

          WHEREAS, the Issuer and the Administrator intend to amend and restate
this Administrative Services Agreement on or after the date that the Indenture
is signed;

          WHEREAS, the Issuer has requested that the Administrator provide
advice and assistance to the Issuer generally and with respect to each series of
the Issuer and perform various services for the Issuer generally and with
respect to each series of the Issuer; and

          WHEREAS, the Issuer desires to avail itself of the experience, advice
and assistance of the Administrator and to have the Administrator perform
various financial, statistical, accounting and other services for the Issuer,
and the Administrator is willing to furnish such services on the terms and
conditions herein set forth.

          NOW THEREFORE, in consideration of the premises and covenants set
forth in this Administrative Services Agreement, the parties agree as follows:

                                   ARTICLE 1
                   DEFINITIONS; OTHER DEFINITIONAL PROVISIONS

          SECTION 1.1      DEFINITIONS. The following terms, as used herein,
have the following meanings:

          "ADMINISTRATION FEE" has the meaning ascribed in Section 4.1.

          "ADMINISTRATIVE SERVICES AGREEMENT" means this instrument as
originally executed or as the same may be amended, modified, restated,
supplemented and/or replaced from time to time.

          "ADMINISTRATOR" has the meaning ascribed in the first paragraph of
this Administrative Services Agreement.

          "AFFILIATE" means, as applied to any Person, any other Person directly
or indirectly controlling, controlled by, or under common control with, that
Person and, in the case of an individual, any spouse or other member of that
individual's immediate family. For the purposes of this definition, "control"
(including with correlative meanings, the terms

                                       A-1
<Page>

"controlling", "controlled by" and "under common control with"), as applied to
any Person, means the possession, directly or indirectly, of the power to direct
or cause the direction of the management and policies of that Person, whether
through the ownership of voting securities or by contract or otherwise.

          "AGENTS" means any of the agents appointed by the Issuer to sell the
Notes.

          "ASSIGNED DOCUMENTS" means, with respect to any series of Notes, each
Funding Agreement from time to time issued by the Funding Agreement Provider and
securing such series of Notes, whether owned at the time of issuance of such
series of Notes or thereafter acquired by the Issuer and such other agreements,
instruments or other documents (if any), as may be specified or contemplated in
a Note Certificate or Supplemental Indenture relating to such series of Notes.

          "BOOK-ENTRY NOTE" means a Note issued in book-entry form.

          "CERTIFICATED NOTE" means a Note issued in certificated form.

          "CLEARING CORPORATION" means, with respect to any series of Notes, any
of DTC, Euroclear, Clearstream, Luxembourg or any other clearing system
specified in the applicable pricing supplement and their respective successors
and "CLEARING CORPORATIONS" means all of the foregoing.

          "CLEARSTREAM, LUXEMBOURG" means Clearstream Banking S.A., formerly
known as Cedelbank S.A., and its successors.

          "COMMISSION" has the meaning ascribed in Section 2.2(d).

          "DELAWARE TRUSTEE" means Wilmington Trust Company, not in its
individual capacity but solely as trustee, and its successors.

          "DEPOSITARY" shall mean, with respect to the Notes of any series
represented by one or more Global Securities, the Clearing Corporation or its
agent or nominee designated as Depositary by the Indenture Trustee until a
successor Depositary shall have become such pursuant to the applicable
provisions of this Indenture, and thereafter "DEPOSITARY" shall mean or include
each Person who is then a Depositary hereunder, and if at any time there is more
than one such Person, "DEPOSITARY" as used with respect to the Notes of any such
series shall mean the Depositary with respect to the Notes of that series.

          "DISTRIBUTION AGREEMENT" means the distribution agreement to be
entered into by and among the Agents and the Issuer, as such agreement may be
amended, modified, restated, supplemented and/or replaced from time to time.

          "DTC" means The Depository Trust Company and its successors.

          "EUROCLEAR" means Euroclear Bank S.A./N.V., and its successors, as
operator of the Euroclear System.

                                        2
<Page>

          "FUNDING AGREEMENT" means each funding agreement between the Funding
Agreement Provider and Issuer issued from time to time by the Funding Agreement
Provider up to the principal amount or amounts as may from time to time be
authorized by the Funding Agreement Provider and subsequently assigned by the
Issuer to the Indenture Trustee, as any of the same shall be amended from time
to time.

          "FUNDING AGREEMENT PROVIDER" means Allstate Life Insurance Company, a
life insurance company organized under the laws of the State of Illinois.

          "GLOBAL SECURITY" means a single Note Certificate deposited with the
Depositary and registered in the name of a Clearing Corporation or its agent or
nominee representing the entire issue of Book-Entry Notes of any series, or if
the rules of the applicable Clearing Corporation or the applicable securities
laws or regulations of any jurisdiction limit the maximum principal amount of
Note Certificates, each of the minimum number of Note Certificates so deposited
and registered that are required to comply with such laws, regulations and rules
while representing in the aggregate the entire issue of Book-Entry Notes of any
series.

          "INDENTURE" means the indenture to be entered into between the Issuer
and Bank One, National Association before any Notes are issued, as the same may
be amended, modified, restated, supplemented and/or replaced from time to time.

          "INDENTURE TRUSTEE" means Bank One, National Association and its
successors.

          "ISSUER" has the meaning ascribed in the first paragraph of this
Administrative Services Agreement.

          "LICENSE AGREEMENT" means the license agreement to be entered into
between Allstate Insurance Company and the Issuer, as the same may be amended,
modified, restated, supplemented and/or replaced from time to time.

          "LOSS AND EXPENSE" has the meaning ascribed in Section 4.2.

          "NOTE CERTIFICATE" means each Global Security and each Certificated
Note.

          "PAYING AGENT" means the Indenture Trustee.

          "PERSON" means any natural person, corporation, limited partnership,
general partnership, joint stock company, joint venture, association, company,
limited liability company, trust (including any beneficiary thereof), bank,
trust company, land trust, business trust or other organization, whether or not
a legal entity, and any government or any agency or political subdivision
thereof.

          "PROGRAM DOCUMENTS" means each Note Certificate, the Indenture, the
Trust Agreement, this Administrative Services Agreement, the Distribution
Agreement, the

                                        3
<Page>

Support and Expenses Agreement, each Supplemental Indenture, the License
Agreement and each Funding Agreement.

          "RATING AGENCY" means any "nationally recognized statistical rating
organization" (as such term is defined in Rule 436(g)(2) of the Securities Act).

          "REASONABLE CAUSE" means (i) the failure or inability of the
Administrator to perform any obligations it may have hereunder for any reason or
(ii) the existence of facts or circumstances which, in the exclusive opinion of
the Delaware Trustee, make it unlikely that the Administrator will be able to
perform any such obligations, including, but not limited to, the Administrator
being adjudged bankrupt or insolvent, the appointment of a receiver for the
Administrator or for its property, or the taking charge or control by any public
officer of the Administrator or of its property or affairs for the purpose of
rehabilitation, conservation or liquidation.

          "REGISTRAR" means, initially, the Indenture Trustee.

          "RESPONSIBLE OFFICER" when used with respect to any Person means the
chairman of the board of directors or any vice chairman of the board of
directors or the president or any vice president (whether or not designated by a
number or numbers or a word or words added before or after the title "vice
president") of such Person. With respect to the Issuer, Responsible Officer
means any Responsible Officer (as defined in the preceding sentence) plus any
assistant secretary and any financial services officer of the Delaware Trustee,
and with respect to the Trustee, Responsible Officer means any Responsible
Officer (as defined in the first sentence of this definition) plus the chairman
of the trust committee, the chairman of the executive committee, any vice
chairman of the executive committee, the cashier, the secretary, the treasurer,
any trust officer, any assistant trust officer, any assistant vice president,
any assistant cashier, any assistant secretary, any assistant treasurer, or any
other authorized officer of the Trustee customarily performing functions similar
to those performed by the Persons who at the time shall be such officers,
respectively, or to whom any corporate trust matter is referred because of his
knowledge of and familiarity with the particular subject.

          "SUPPLEMENTAL INDENTURE" means the indenture that the Issuer and
Indenture Trustee may from time to time enter into pursuant to the Indenture.

          "SUPPORT AND EXPENSES AGREEMENT" means that certain support and
expenses agreement dated as of June 27, 2002 by and between the Funding
Agreement Provider and the Issuer, as the same may be amended from time to time.

          "TRUST AGREEMENT" means that certain Trust Agreement dated as of June
24, 2002 establishing the Issuer, as such agreement may be amended, modified,
restated, supplemented and/or replaced from time to time.

                                        4
<Page>

          SECTION 1.2      OTHER DEFINITIONAL PROVISIONS. For all purposes of
this Administrative Services Agreement except as otherwise expressly provided or
unless the context otherwise requires:

          (a)  the terms defined in this Article 1 shall have the meanings
               ascribed to them in this Article 1 and shall include the plural
               as well as the singular;

          (b)  the words "include", "includes" and "including" shall be
               construed to be followed by the words "without limitation";

          (c)  Article and Section headings are for the convenience of the
               reader and shall not be considered in interpreting this
               Administrative Services Agreement or the intent of the parties
               hereto;

          (d)  the words "herein", "hereof" and "hereunder" and other words of
               similar import refer to this Administrative Services Agreement as
               a whole and not to any particular Article, Section or other
               subdivision; and

          (e)  references herein to Articles, Sections and Exhibits shall,
               unless otherwise specified, refer respectively to Articles,
               Sections and Exhibits hereof.

                                   ARTICLE 2
                      APPOINTMENT; ADMINISTRATIVE SERVICES

          SECTION 2.1      APPOINTMENT. Pursuant to Section 3806(b)(7) of the
Delaware Business Trust Act, the Administrator is hereby appointed, as an agent
of the Issuer generally and with respect to each series of the Issuer with full
power and authority, and agrees to carry out all of the duties and
responsibilities (a) of the Issuer generally and with respect to each series of
the Issuer under the Program Documents and Assigned Documents and any other
document to which the Issuer generally or with respect to any series of the
Issuer is a party and (b) of the Administrator hereunder as contemplated by and
pursuant to this Administrative Services Agreement.

          SECTION 2.2      ADMINISTRATIVE SERVICES. Without limiting the
generality of Section 2.1, the Issuer hereby expressly authorizes and empowers
the Administrator, as its agent, to perform, and the Administrator hereby
expressly agrees to perform, the following services:

          (a)  subject to the timely receipt of all necessary information,
               requests, notices or direction, as the case may be, providing, or
               causing to be provided, all clerical, bookkeeping and other
               services necessary and appropriate for the administration of the
               Issuer including, without limitation, the following services:

                                        5
<Page>

               (i)     maintenance of all books and records of the Issuer and
                       each series of the Issuer relating to the fees, costs and
                       expenses of the Issuer and each series of the Issuer,
                       which books and records shall be maintained separately
                       for each series of the Issuer and from those of the
                       Administrator;

               (ii)    maintenance of records of cash payments and disbursements
                       (excluding principal and interest on any Funding
                       Agreement) of the Issuer and each series of the Issuer in
                       accordance with generally accepted accounting principles
                       as determined in consultation with the accountants for
                       the Issuer, and preparation for audit of such periodic
                       financial statements as may be necessary or appropriate;

               (iii)   upon request, preparation for execution by a Responsible
                       Officer of the Issuer of amendments to, and waivers
                       under, the Program Documents, the Assigned Documents and
                       any other documents or instruments deliverable by the
                       Issuer thereunder or in connection therewith;

               (iv)    holding, maintaining, and preserving executed copies of
                       the Program Documents, the Assigned Documents and other
                       documents or instruments executed by the Issuer
                       thereunder or in connection therewith, which shall be
                       maintained separately from those of the Administrator;

               (v)     upon receipt of notice, taking such action as may be
                       reasonably necessary to enforce the performance by the
                       other parties to agreements to which the Issuer is a
                       party and enforcing the obligations of those parties to
                       the Issuer under such agreements;

               (vi)    upon request, preparing for execution by a Responsible
                       Officer of the Issuer of such notices, consents,
                       instructions and other communications that the Issuer may
                       from time to time be required or permitted to give under
                       the Program Documents, the Assigned Documents and any
                       other document to which the Issuer generally or with
                       respect to any series of the Issuer is a party;

               (vii)   obtaining services of outside counsel, accountants and/or
                       other service providers on behalf of the Issuer;

               (viii)  preparing for execution by a Responsible Officer, demands
                       and Issuer's certificates relating to payment of any
                       amounts due and owing by the Issuer under the Program
                       Documents, the

                                        6
<Page>

                       Assigned Documents and any other document to which the
                       Issuer is a party provided that the foregoing shall not
                       obligate the Administrator to advance any of its own
                       monies for such purpose; it being understood that such
                       amounts shall only be payable to the extent assets of the
                       Issuer are available therefor and at such times and in
                       such amounts as shall be permitted by the Program
                       Documents or the Assigned Documents;

               (ix)    preparing for execution by a Responsible Officer, demands
                       and Issuer's certificates relating to payment of any
                       amounts due and owing by the Issuer to the Indenture
                       Trustee, the Paying Agent, the Registrar and other agents
                       of the Issuer on request for all expenses, disbursements
                       and advances; PROVIDED, that the foregoing shall not
                       obligate the Administrator to advance any of its own
                       monies for such purpose; it being understood that such
                       amounts shall only be payable to the extent assets of the
                       Issuer are available therefor and at such times and in
                       such amounts as shall be permitted by the Program
                       Documents or the Assigned Documents; and

               (x)     taking such other administrative actions as may be
                       incidental or reasonably necessary to the accomplishment
                       of the actions of the Administrator authorized in this
                       Section 2.2(a) or, upon receipt of notice directing the
                       Administrator to do so, to the accomplishment of the
                       duties and responsibilities of the Issuer under the
                       Program Documents, the Assigned Documents and any other
                       document to which the Issuer is a party to the extent not
                       otherwise the responsibility of the Indenture Trustee,
                       the Delaware Trustee, a Paying Agent or the Registrar;

          (b)  upon the issuance of a series of Notes, directing the Indenture
               Trustee to pay the expenses of the Issuer relating to such series
               of Notes;

          (c)  performing the administrative services to ensure compliance with
               all of the obligations, representations, covenants and agreements
               of the Issuer set forth in the Trust Agreement;

          (d)  subject to the timely receipt of all necessary information,
               requests, notices or direction, as the case may be, filing with
               the Securities and Exchange Commission (the "COMMISSION") and
               executing, in each case on behalf of the Issuer, (a) a
               registration statement on Form S-3 or other appropriate form,
               including the prospectus and the exhibits included therein, any
               pre-effective or post-effective amendments thereto and any
               registration statements filed subsequent thereto under rules
               promulgated under the Securities Act of 1933, as amended (the
               "1933 ACT"), relating to the registration of the Notes and any
               other

                                        7
<Page>

               securities under the 1933 Act, (b) any preliminary prospectus or
               prospectus or supplement thereto relating to any Notes required
               to be filed pursuant to the 1933 Act, and (c) registration
               statements and such other documents, forms or filings as may be
               required by the 1933 Act, the Securities Exchange Act of 1934, as
               amended, or the Trust Indenture Act of 1939, as amended, or other
               securities laws in each case relating to any Notes; (ii) filing
               and executing on behalf of the Issuer such filings, applications,
               reports, surety bonds, irrevocable consents, appointments of
               attorney for service of process and other papers and documents as
               may be necessary or desirable to register, or establish the
               exemption from registration of, any Notes under the securities or
               "Blue Sky" laws of any relevant jurisdictions; and (iii)
               executing and delivering letters or documents to, or instruments
               for filing with, a depository relating to any Notes; and

          (e)  undertaking such other administrative services as may be
               reasonably requested by the Issuer or the Delaware Trustee,
               including obtaining and maintaining the listing of the Notes on
               any stock exchange and causing the preparation by the Issuer of
               any prospectus, pricing supplement, private placement memoranda,
               offering circular or supplement thereto, in connection with the
               performance by the Issuer of its obligations under the Program
               Documents, the Assigned Documents or any other document to which
               the Issuer is a party or other documents executed thereunder or
               in connection therewith.

          SECTION 2.3.     SUBCONTRACTING OF CERTAIN SERVICES. Notwithstanding
the foregoing and the provisions of Article 3, the Administrator shall have the
right to enter into one or more contracts with one or more other Persons to
perform the services set forth in Section 2.2(a)(i)-(ii), Section
2.2(a)(viii)-(ix) and in Section 2.2(b) of this Administrative Services
Agreement, in each case subject to the prior written approval of the Funding
Agreement Provider, such approval not to be unreasonably withheld or delayed.
Whether or not any such contract is entered into and unless the Administrator
agrees otherwise, the Administrator shall not be liable for any costs, fees or
expenses related to the provision of the services set forth in Section
2.2(a)(i)-(ii), Section 2.2(a)(viii)-(ix) and in Section 2.2(b) of this
Administrative Services Agreement.

                                   ARTICLE 3
          BUSINESS OF THE ISSUER; EMPLOYEES AND SUBCONTRACTORS; OFFICES

          SECTION 3.1.     BUSINESS OF THE ISSUER. The Administrator agrees to
carry out and perform the day to day business activities (as set forth in
Section 2.2 hereof) of the Issuer in the name and on behalf of the Issuer as its
agent.

          SECTION 3.2.     EMPLOYEES AND SUBCONTRACTORS.

                                        8
<Page>

          (a)  Except as otherwise provided in Section 2.3 of this
               Administrative Services Agreement, all services to be furnished
               by the Administrator under this Administrative Services Agreement
               may be (i) furnished by an officer or employee of the
               Administrator, an officer or employee of any Affiliate of the
               Administrator, or any other Person or agent designated by it or
               (ii) subcontracted by the Administrator; PROVIDED, that prior
               written notice is given to the Delaware Trustee of such
               subcontract; PROVIDED, FURTHER, that the Administrator shall
               remain ultimately responsible for the provision of such services
               unless such services are subcontracted to accountants, legal
               counsel or other service providers selected with due care by the
               Administrator, in which case the Administrator, in the absence of
               gross negligence or bad faith by the Administrator, shall not be
               responsible for their actions or failure to act.

          (b)  Except as set forth in Article 4, no director, officer, employee
               or Affiliate of the Administrator shall receive from the Issuer a
               salary or other compensation.

          (c)  The Administrator agrees to provide office space, together with
               appropriate materials and any necessary support personnel, for
               the day to day business activities of the Issuer.

                                    ARTICLE 4
                            COMPENSATION; INDEMNITIES

          SECTION 4.1.     COMPENSATION. The Issuer agrees to pay the
Administrator the fees set forth in Exhibit A hereto (the "ADMINISTRATION FEE").

          SECTION 4.2.     INDEMNITIES. To the fullest extent permitted under
applicable law and subject to limitations imposed by public policy, the Issuer
agrees to indemnify the Administrator, and hold the Administrator harmless, from
and against any and all losses, liabilities (including liabilities for
penalties), actions, suits, judgments, demands, damages, out-of-pocket costs and
expenses (including, without limitation, interest and reasonable attorneys fees,
but excluding costs and expenses attributable solely to administrative overhead)
arising out of, in connection with, or resulting from the exercise of the
Administrator's rights and/or the performance of the Administrator's duties, by
the Administrator or its agents and employees, hereunder (collectively, "LOSS
AND EXPENSE"); provided, however, that, except as set forth in the last proviso
of this Section 4.2, the Issuer shall not be liable to indemnify the
Administrator, or hold the Administrator harmless, from and against any and all
Loss and Expense resulting from or attributable to the gross negligence (or
ordinary negligence in the handling or disbursement of funds), bad faith or
willful misconduct of the Administrator; provided, further, that with respect
only to Losses and Expenses incurred by the Administrator in connection with the
performance of the services contemplated in Section 2.2(d) of this
Administrative Services Agreement, the Issuer shall not be liable to indemnify
the Administrator, or hold the Administrator harmless,

                                        9
<Page>

from and against any and all Loss and Expense resulting from or attributable to
the bad faith or willful misconduct of the Administrator.

                                    ARTICLE 5
                                      TERM

          SECTION 5.1.     TERM.

          (a)  The Administrator may terminate this Administrative Services
               Agreement upon at least 30 days' prior written notice to the
               Issuer and the Issuer may terminate this Administrative Services
               Agreement for Reasonable Cause upon at least 30 days' prior
               written notice to the Administrator (copies of any notice of
               termination shall also be sent to the Indenture Trustee). Such
               termination will not become effective until (a) the Issuer
               appoints a successor Administrator, (b) the successor
               Administrator accepts such appointment, (c) the Administrator has
               obtained the prior written confirmation of any Rating Agency then
               rating the Program or any series of the Notes that such action
               will not result in a reduction or withdrawal of its then current
               ratings, if any, of the Program and/or any series of the Notes as
               applicable and (d) the Issuer has paid all accrued and unpaid
               amounts owed to the Administrator under this Administrative
               Services Agreement.

          (b)  Notwithstanding the provisions of Section 5.1(a) and
               notwithstanding compliance with any of the conditions associated
               with the termination provisions set forth in Section 5.1(a), the
               Administrator shall have the right to terminate this
               Administrative Services Agreement if the Administrator has not
               approved the Program Documents (not including each Note
               Certificate, each Supplemental Indenture and each Funding
               Agreement) on or before September 30, 2002 or if the Funding
               Agreement Provider has not provided the approval contemplated in
               Section 2.3 on or before September 30, 2002. In the event of the
               termination of this Administrative Services Agreement pursuant to
               this Section 5.1(b), the Administrator shall be entitled to
               receive from the Issuer any accrued and outstanding fees or
               reimbursements due to the Administrator for its performance of
               services pursuant to this Administrative Services Agreement prior
               to such termination.

                                    ARTICLE 6
                        OBLIGATION TO SUPPLY INFORMATION

          SECTION 6.1.     OBLIGATION TO SUPPLY INFORMATION. The Issuer hereby
authorizes the Delaware Trustee to forward to the Administrator any information
which is in the possession of the Issuer in connection with the Program
Documents, the Assigned

                                       10
<Page>

Documents and this Administrative Services Agreement as the Administrator may
from time to time reasonably request in connection with the performance of its
obligations hereunder. The Administrator will (a) hold and safely maintain all
records, files, Program Documents, Assigned Documents and other material of the
Issuer and (b) permit the Issuer, the Delaware Trustee, and each of their
respective officers, directors, agents and consultants on reasonable notice, at
any time, and from time to time during normal business hours, to inspect, audit,
check and make abstracts from the accounts, records, correspondence, documents
and other materials of the Issuer, or relating to the provision of services and
facilities under this Administrative Services Agreement.

                                   ARTICLE 7
                 THE ADMINISTRATOR'S LIABILITY; STANDARD OF CARE

          SECTION 7.1.     ADMINISTRATOR'S LIABILITY. The Administrator assumes
no liability for anything other than the services rendered and the facilities
provided by it pursuant to Articles 2 and 3 hereof and neither the Administrator
nor any of its directors, officers, employees or Affiliates shall be responsible
for any action of the Issuer, the Delaware Trustee, the Funding Agreement
Provider or the officers or employees thereof taken outside the scope of
Articles 2 and 3 hereof and without direction from the Administrator. Without
limiting the generality of the foregoing, it is agreed that the Administrator
assumes no liability with respect to any of the Issuer's obligations under the
Program Documents.

          SECTION 7.2.     STANDARD OF CARE. The Administrator shall not be
required to perform, endeavor to perform or agree to perform any act on behalf
of the Issuer not specifically required or permitted under the Program Documents
or the Assigned Documents. The Administrator shall perform its duties hereunder
diligently, in conformity with the Issuer's obligations under the Program
Documents and the Assigned Documents, and applicable laws and regulations and in
accordance with the same standard of care exercised by a prudent person in
connection with the performance of the same or similar duties, and in no event
with less care than the Administrator exercises or would exercise in connection
with the same or similar obligations if those obligations were the direct
obligations of the Administrator.

                                    ARTICLE 8
                           LIMITED RECOURSE TO ISSUER

          SECTION 8.1.     LIMITED RECOURSE TO ISSUER. Notwithstanding anything
to the contrary contained herein, all obligations of the Issuer hereunder shall
be payable by the Issuer only on a payment date of the Notes and only to the
extent of funds available therefor under the Indenture and, to the extent such
funds are not available or are insufficient for the payment thereof, shall not
constitute a claim against the Issuer to the extent of such unavailability or
insufficiency until such time as the Issuer has assets sufficient to pay such
prior deficiency. This Article 8 shall survive the termination of this
Administrative Services Agreement.

                                       11
<Page>

                                    ARTICLE 9
                                   NO RECOURSE

          SECTION 9.1.     NO RECOURSE. The obligations of the Issuer hereunder
are solely the obligations of the Issuer and no recourse shall be had with
respect to this Administrative Services Agreement or any of the obligations of
the Issuer hereunder or for the payment of any fee or other amount payable
hereunder or for any claim based on, arising out of or relating to any provision
of this Administrative Services Agreement against any trustee, employee,
settlor, Affiliate, agent or servant of the Issuer. The provisions of this
Article 9 shall survive the termination of this Administrative Services
Agreement.

                                   ARTICLE 10
               RELIANCE ON INFORMATION OBTAINED FROM THIRD PARTIES

          SECTION 10.1.    RELIANCE ON INFORMATION OBTAINED FROM THIRD PARTIES.
The Issuer recognizes that the accuracy and completeness of the records
maintained and the information supplied by the Administrator hereunder is
dependent upon the accuracy and completeness of the information obtained by the
Administrator from the parties to the Program Documents, the Assigned Documents
and other sources and, subject to Articles 4 and 7 hereof but without any duty
to conduct any independent investigation, the Administrator shall not be
responsible for any inaccurate or incomplete records maintained by the
Administrator hereunder that may result therefrom. The Administrator shall have
no duty to investigate the accuracy or completeness of any information provided
to it and shall be entitled to fully rely on all such information provided to
it.

                                   ARTICLE 11
                                  MISCELLANEOUS

          SECTION 11.1.    NOTICES. All notices, demands, instructions and other
communications required or permitted to be given hereunder shall be in writing
(including by facsimile transmission) and shall be personally delivered or sent
by guaranteed overnight delivery or by facsimile transmission (confirmed by
personal or guaranteed overnight delivery) and shall be deemed to be given for
purposes of this Administrative Services Agreement on the day that such writing
is received by the intended recipient thereof in accordance with the provisions
of this Section 11.1.

          Unless otherwise specified in a notice sent or delivered in accordance
with the foregoing provisions of this Section 11.1, all notices, demands,
instructions and other communications in writing shall be given to or made upon
the respective parties hereto at their respective addresses (or their respective
facsimile numbers) indicated below:

                                       12
<Page>

          The Issuer:

          Allstate Life Global Funding
          c/o AMACAR Pacific Corp.
          6525 Morrison Boulevard, Suite 318
          Charlotte, North Carolina 28211
          Attention: President
          Facsimile: (704) 365-1632

          The Administrator:

          AMACAR Pacific Corp.
          6525 Morrison Boulevard, Suite 318
          Charlotte, North Carolina 28211
          Attention: Douglas K. Johnson
          Facsimile: (704) 365-1632

          SECTION 11.2.    AMENDMENT. No amendment, modification, restatement,
supplement or replacement hereof, or waiver or consent hereunder, shall be
effective unless (a) accomplished by written instrument signed by both parties
hereto and (b) the prior written confirmation of each Rating Agency then rating
the Program or any series of the Notes that such action will not result in
reduction or withdrawal of its then current ratings, if any, of the Program
and/or any series of the Notes as applicable. The Issuer shall provide each
Rating Agency then rating the Program or any series of the Notes with a copy of
each such amendment, modification, restatement, supplement or replacement
hereof, or waiver or consent hereunder.

          SECTION 11.3.    NO JOINT VENTURE. Nothing contained in this
Administrative Services Agreement shall constitute the Issuer and the
Administrator as members of any partnership, joint venture, association,
syndicate or unincorporated business.

          SECTION 11.4.    ASSIGNMENT. Except as set forth in this Section 11.4,
and subject to the rights of the Administrator to subcontract pursuant to
Section 3.2 hereof, this Administrative Services Agreement may not be assigned
by either party without (a) the prior written consent of the other party and (b)
the prior written confirmation of each Rating Agency then rating the Program or
any series of the Notes that such action will not result in a reduction or
withdrawal of its then current ratings, if any, of the Program and/or any series
of the Notes, as applicable. Subject to the foregoing, this Administrative
Services Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective permitted successors and assigns. Any party's
transfer or assignment in violation of this Section 11.4 shall be void as to the
other party.

          SECTION 11.5.    GOVERNING LAW. This Administrative Services Agreement
shall be governed by and construed in accordance with the laws of the State of
New York without regard to its choice of law principles.

                                       13
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          SECTION 11.6.    CONSENT TO JURISDICTION. Each party to this
Administrative Services Agreement submits to the nonexclusive jurisdiction of
the United States Federal court located in the City of New York, Borough of
Manhattan for purposes of all legal proceedings arising out of or relating to
this Administrative Services Agreement or the transactions contemplated hereby.
Each party to this Administrative Services Agreement irrevocably waives, to the
fullest extent permitted by law, any objection which it may now or hereafter
have to the laying of the venue of any such proceeding brought in such a court
and any claim that any such proceeding brought in such a court has been brought
in an inconvenient forum. Each party to this Administrative Services Agreement
consents to process being served in any suit, action or proceeding with respect
to this agreement, or any document delivered pursuant hereto by the mailing of a
copy thereof by registered or certified mail, postage prepaid, return receipt
requested, to its respective address specified at the time for notices under
this Administrative Services Agreement or to any other address of which it shall
have given written notice to the other party. The foregoing shall not limit the
ability of any party hereto to bring suit in the courts of any other
jurisdiction.

          SECTION 11.7.    WAIVER OF JURY TRIAL. Each of the parties to this
Administrative Services Agreement irrevocably waives any and all right to a
trial by jury with respect to any legal proceeding arising out of or relating to
this Administrative Services Agreement or any claims or transactions in
connection herewith. Each of the parties hereto hereby acknowledge that such
waiver is made with full understanding and knowledge of the nature of the rights
and benefits waived hereby.

          SECTION 11.8.    EXECUTION IN COUNTERPARTS. This Administrative
Services Agreement and any amendments, modifications, restatements, supplements
and/or replacements hereof, or waivers or consents hereto, may be executed in
any number of counterparts, and by different parties hereto in separate
counterparts, each of which, when so executed and delivered, shall be deemed to
be an original and all of which counterparts, when taken together, shall
constitute one and the same instrument. This Administrative Services Agreement
shall become effective upon the execution of a counterpart by each of the
parties hereto.

          SECTION 11.9.    LIMITATION OF DELAWARE TRUSTEE LIABILITY.
Notwithstanding any provision hereof to the contrary, it is expressly understood
and agreed by the parties that (a) this Administrative Services Agreement is
executed and delivered by Wilmington Trust Company, not individually or
personally, but solely as Delaware Trustee, in the exercise of the powers and
authority conferred and vested in it pursuant to the Trust Agreement, (b) each
of the representations, undertakings and agreements herein made on the part of
the Issuer is made and intended not as personal representations, undertakings
and agreements by Wilmington Trust Company, but is made and intended for the
purpose of binding only the Issuer, (c) nothing herein contained shall be
construed as creating any liability on Wilmington Trust Company, individually or
personally, to perform any covenant either expressed or implied herein, all such
liability, if any, being expressly waived by the parties hereto and by any
person claiming by, through or under the parties hereto and (d) under no
circumstances shall Wilmington Trust Company be personally liable for the
payment of any indebtedness or expenses of the Issuer or be liable for the
breach or failure of

                                       14
<Page>

any obligation, representation, warranty or covenant made or undertaken by the
Issuer under this Administrative Services Agreement or any other related
documents.

          SECTION 11.10.   NO PETITION. Notwithstanding any prior termination of
this Administrative Services Agreement, the Administrator as such shall not
acquiesce, petition or otherwise, directly or indirectly, invoke or cause the
Issuer to invoke the process of any governmental authority for the purpose of
commencing or sustaining a case against the Issuer under any Federal or state
bankruptcy, insolvency or similar law or appointing a receiver, liquidator,
assignee, trustee, custodian, sequestrator or other similar official of the
Issuer or any substantial part of its property or ordering the winding up or
liquidation of the affairs of the Issuer for one year and one day after the last
obligation of any series of the Issuer has been paid.

          SECTION 11.11.   SEVERABILITY. In case one or more of the provisions
contained in, or obligation under, this Administrative Services Agreement shall
be or shall be invalid, illegal or unenforceable in any jurisdiction, the
validity, legality and enforceability of the remaining provisions or
obligations, or of such provision or obligation in any other jurisdiction shall
not in any way be affected or impaired thereby to the fullest extent permitted
under applicable law.

          SECTION 11.12.   ENTIRE AGREEMENT. This Administrative Services
Agreement constitutes the entire agreement between the parties hereto relating
to the subject matter hereof and supersedes all previous agreements between the
parties, whether written or oral.

          SECTION 11.13.   ADMINISTRATOR TO PROVIDE INDENTURE TRUSTEE ACCESS TO
BOOKS AND RECORDS. The Administrator shall provide the Indenture Trustee with
access to the books and records of the Issuer without charge, but only (a) upon
the reasonable request of the Indenture Trustee (for which purpose one business
day shall be deemed reasonable during the occurrence and continuation of a
default or an event of default as specified in the Indenture), (b) during normal
business hours, (c) subject to the Administrator's normal security and
confidentiality procedures and (d) at offices designated by the Administrator.

          SECTION 11.14.   NO WAIVER. No failure on the part of the parties
hereto to exercise, and no delay in exercising, and no course of dealing with
respect to, any right, power or privilege hereunder shall operate as a waiver
thereof, nor shall any single or partial exercise thereof or the exercise of any
other right, power or privilege operate as such a waiver.

          SECTION 11.15.   REMEDIES CUMULATIVE. No right, power or remedy of the
parties hereunder shall be exclusive of any other right, power or remedy, but
shall be cumulative and in addition to any other right, power or remedy
thereunder or now or hereafter existing by law or in equity.

                                       15
<Page>

          IN WITNESS WHEREOF, the parties hereto have caused this Administrative
Services Agreement to be executed as of the day and year first above written.

                                          ALLSTATE LIFE GLOBAL FUNDING, acting
                                          hereunder with respect to each series

                                          By:  Wilmington Trust Company, not in
                                          its individual capacity,
                                          but solely as Delaware Trustee

                                          By: /s/ Donald G. MacKelcan
                                             -----------------------------------
                                             Name:  Donald G. MacKelcan
                                             Title: Vice President

                                          AMACAR PACIFIC CORP.,
                                          in its individual capacity

                                          By: /s/ Douglas K. Johnson
                                             -----------------------------------
                                             Name:  Douglas K. Johnson
                                             Title: President

                                       16

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