April, 30 2017

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Illinois Mutual Life Insurance Review

Illinois Mutual Life Insurance Review

Author
  • Price
  • Financial Stability

Illinois Mutual Life Insurance Review

Pros: Longevity– Illinois Mutual was founded in 1910 giving customers peace of mind IMLIC will be around to meet future obligations.  Top Seller List– Illinois Mutual is ranked 127 on the Top 200 Life Writers in America.  Family Operated Business– Illinois Mutual Life Insurance Company is a fifth generation family run mutual company that prides itself on top notch customer service.

Cons: Illinois Mutual Life Insurance Company prices are not the cheapest available.  Also, their B++ (Stable) financial rating from A.M. Best is a little lower than the A (Excellent) to A++ (Superior) range that we normally like to see from a top life insurer.

Bottom Line: Illinois Mutual Life Insurance Company is a financially stable, family operated mutual life insurance company that focuses on providing the best customer service to their policy holders.  Having been around for over 100 years and operating in 47 states, it’s easy to see why Illinois Mutual Life Is the 127th largest writer of life insurance in the country.  However, with a current B++ financial rating from A.M. Best and having term life insurance rates that are higher than some of the other top life insurers; we recommend that you receive a quote from Illinois Mutual but also from other top insurers as well and choose the best one for you.

About

Type: Mutual Company

Issued by: Illinois Mutual Life Insurance

Website: illinoismutual.com

Phone: (800) 437-7355

Address: 300 SW Adams, Peoria, IL 61634

A.M Best Rating: B++ (Stable) Fifth highest of 16 possible ratings

Comdex Ranking: NA

BBB Rating: A+

Life Insurance Products: Term Life Insurance, Universal Life Insurance, Whole Life Insurance, Modified Death Benefit Whole Life, Level Death Benefit Whole Life and Workplace Insurance and Annuity Products.

Licensed: Conducts business in 47 states

Competitors: American General Life, Banner Life, Protective Life, Primerica, Genworth Life, Pacific Life Insurance, North American Co, Lincoln National Life, ING-ReliaStar, Transamerica, Prudential, Midland, Cincinnati Life, Grange Life Insurance Company, Symetra Life Insurance Company, Mutual of Omaha, John Hancock, PennMutual, Principal, State Farm, Farmers, Allstate, TIAA-CREF, Guardian, OneAmerica, Minnesota Life, RiverSource, Allianz Life Insurance Company, Thrivent Financial for Lutherans, AAA, Erie, Sagicor, Amica, ANICO, Assurity, Colonial Penn, AARP, Globe Life, Ohio National Life Group, New York Life, Northwestern Mutual, EMC National Life, Motorists Life, Pan-American Life, National Life Group, American Family, Shelter, HoraceMann, Country Financial, Group Life Insurance, Supplemental Life Insurance, Aflac, Voluntary Life Insurance, Unum,  MassMutual.

Price Comparison

Sample rates for a $250,000 policy on a 10-year term at each company’s standard health class, for a 40-year old male, non-smoker.

AgeIllinois Mutual Banner LifeAmerican GeneralMetLife
40$53.02$37.84$37.98$44.24

To receive an instant quote from Illinois Mutual click here.  To compare rates from the nation’s top life insurance companies click the green button below.

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Summary
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Illinois Mutual Life Insurance Company
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3