When considering which company to choose it is important to have options. At TermLife2Go, we work with the Top 10 Best Life Insurance Companies, offering exam and life insurance with no medical exam. Give us a call today to see if Illinois Mutual is the best company for you, based on your unique need, health and lifestyle.
Illinois Mutual Reviews
Pros for Illinois Mutual Life Insurance
Illinois Mutual is a pretty straight forward company, and they believe in making things easy. The name of their sales process tells you exactly what they strive to be: fast, simple, seamless. With some basic health history documentation you can quickly get approved for a policy up to $250,000.
About Illinois Mutual
Illinois Mutual Life Insurance Company has been selling life insurance for more than a century, and it is still a family-operated company. The company believes in building relationships that last, and really offering good customer services. In addition to life insurance, they also offer disability income insurance and worksite insurance. The company has roughly $1.4 billion in assets.
Illinois Mutual Life insurance Products
There are two main types of life insurance: term life insurance and whole life insurance.
Of the two main types, Illinois Mutual has five different types of life insurance policies:
- Path Protector Whole Life- lifetime coverage and cash value
- Path Protector Term Life- renewable until you turn 95. 10 year, 20 year and 30 year term life insurance available.
- Path Protector Return of Premium Term Life- premiums are returned at the end of the term (assuming you don’t die).
- Path Protector Final Expense- extra funds used for burial insurance, funeral, and last expenses. See also, top final expense and burial insurance companies.
- ValueLife Protector Universal Life- a lifelong insurance policy with a flexible payment plan. See the Indexed Universal Life Insurance Pros and Cons.
Illinois Mutual Life Insurance Company Rating
In November of 2015, one of the most prominent financial institution rating organizations, A.M. Best issued a B++ rating for Illinois Mutual Life Insurance. A B++ is equivalent to “good” and means that A.M. Best feels Illinois Mutual is financially strong and reliable.
Why do ratings matter?
When you choose a life insurance policy, you don’t just want what seems good today. You want a company that’s going to be going strong tomorrow. After all, chances are that you won’t be cashing in your life insurance policy today or even tomorrow. In fact, it may even be half a century before your life insurance beneficiaries cash in your policy.
Cons for Illinois Mutual
Illinois Mutual isn’t one of the biggest names in the life insurance industry. Some people associate brand recognition with quality—which may or may not be true. At TermLife2Go we believe in Illinois Mutual as a life insurance provider, in fact for some individuals we believe they are the best option. Which is why we’ll often recommend them to customers who are looking for the right life insurance company.
The biggest drawback for Illinois Mutual is that when you decide to buy a policy from them, you are forgoing whatever great policies another carrier might offer. In some scenarios, another company might offer you a better rate or better coverage.
How do I know if Illinois Mutual will offer me the best life insurance policy?
You don’t. Well, not yet anyway. The best way to figure out if Illinois Mutual is your best bet is to let us at TermLife2Go help you!
In order to figure out which life insurance company and policy is best for you, we have to calculate some variables:
- Your life experiences/health/weight/ career/ vices
- How each life insurance company views each of those things
You see, not every life insurance company will charge the same premium for every less than perfect thing on your application. Some life insurance companies may overlook some extra weight, but will come down hard on diabetic life insurance. Other life insurance policies may really charge through the roof for tobacco users. Every company is different, and the way they view each and every one of these variables about you is different.
TermLife2Go will carefully study all of your unique risk factors. Only then will we make a customized life insurance recommendation. After all of that, we may find that Illinois Mutual is the best for you, or we may find another company that is more suitable for your needs. You won’t know until you call.
Call TermLife2Go today to get your free consultation so that you can find out if Illinois Mutual is the life insurance company for you.
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