Illinois Mutual Life Insurance Company has been in existence since 1910. The company does not sell health insurance but rather specializes in disability insurance, life insurance, and workplace insurance.
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Illinois Mutual Agents
Illinois Mutual provides two different options for finding an agent. First, if you already have a policy, you can click on that option and your agent will contact you.
If you do not have an agent or would like a new one, click on that option so that you can find an agent in your area. First, choose the product you are interested in and enter your area code. All agents within your area code will appear. Then you can send the agent an email for him or her to contact you.
Illinois Mutual Disability Insurance
Illinois Mutual offers disability insurance to individuals but coverage and plans vary by state. To determine what plans are offered in your state, simply select the state you live in and a chart will appear with available coverage and plans.
Disability plans include those for individuals and businesses, special risk, and short-term disability.
The company’s website offers answers to questions regarding disability insurance. However, if you still require further assistance, you may call an agent or the Policy Service Department at 800-380-6688 extension 758 or email the company by clicking on the link provided.
The website also provides a calculator so that you can determine various factors involving disability. For example, you can actually input your age to determine your chances of suffering from a disability or calculate the amount of coverage you will need depending on your current income.
If you are a business owner, the website has a tool for you to calculate your needs should you suffer from a disability and be unable to run your business.
Illinois Mutual Disability Policies
Illinois Mutual offers two different types of personal disability insurance. The first allows for an automatic renewal until age 65. The second is also automatically renewable, but the premiums are locked in at a guaranteed rate. Benefits for both plans vary depending on how you decide to write your policy, the state you reside, and your occupation.
Illinois Mutual business disability insurance offers similar coverage to the personal disability policies including an automatic renewal until age 65. Like personal disability insurance, coverage varies depending on state and occupation.
Illinois Mutual Disability Riders
Illinois Mutual provides an option to purchase a Surrender Value Rider on disability insurance. The rider provides a refund of premiums, minus the amounts of benefits paid out over the course of maintaining the policy, to individuals when they turn 65.
Illinois Mutual Short Term Disability
Illinois Mutual offers a short-term disability policy to individuals whose employers provide short-term disability through Illinois Mutual. The plan requires at least two people to be enrolled and the premium is paid completely by the individual not the employer.
Benefits vary depending on the plan. However, all plans provide income payments for individuals upon sickness or disability. All short-term disability plans through Illinois Mutual include Accidental Death and Dismemberment benefits. Premiums do not require payment while individuals are out on short-term disability.
Illinois Mutual Accident Insurance
Illinois Mutual offers accident insurance to individuals through their employers. Accident insurance takes over when medical and disability insurance coverage stops. There are also many incidents where medical insurance does not cover the injury or it is not severe enough to be considered to fall under disability insurance. Under these situations, accident insurance benefits will cover the injury.
There are many benefits to having accident insurance besides the additional coverage. The plan pays the insured directly, remains with the individual regardless of employer, and premiums are automatic withdrawn from your paycheck.
Additional riders can also be purchased on accident insurance policies. For instance, if you cannot work, the policy will supplement your lack of a paycheck. Another helpful rider is one that provides additional coverage if you are hospitalized. A third rider option is one that pays for well check-ups and health screenings and testing. The last rider is a catastrophic one, which makes payments after a catastrophic injury, or illness occurs leaving the insured unable to work.
Accident insurance is available to employees between the ages of 18 and 69, their spouses, and children. Eligible employees must work at least 20 hours a week to maintain coverage.
Illinois Mutual Reviews
According to AM Best, Illinois Mutual is rated B+.
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