Illinois Life Insurance: The Basics

Illinois life insurance regulations mostly concern claims issues. However having a basic understanding of these regulations is still a good idea.

Premiums can vary by as much as 50%. Visit Netquote, where you can fill out a short form, select a plan, and input your personal data for a true personalized quote in minutes. Click here to start.

Use Insurecom to compare additional term life and whole life quotes, and get expert advice from an agent in your area, who can help you design a plan that's right for you. Click here to fill out a quick form.

Illinois life insurance state regulations

Basic state regulations:

  • A ten-day "free look" period included in every life insurance policy.
  • Misrepresentation by a policyholder or applicant can be considered fraud and prosecuted.
  • Death by suicide may be excluded for the first two years of the policy at the insurer's discretion.

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To apply for an Illinois term life insurance policy, or if you just want a quick online quote, visit Netquote now.
If you are not sure about what type of life coverage you want, you can also try Insurecom. They will put you in touch with agents who can answer any questions that you might have.

The Illinois Life Insurance Association

Your insurer must be licensed in Illinois for its policyholders to qualify for this protection. You can check calling the state's Department of Insurance toll-free at (877) 527-9431.

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Apply now for a quote at Netquote
(for Illinois term life insurance), or Insurecom.
All quotes are from licensed insurers in Illinois.

Additional IL life insurance information

To get the best price on your IL life insurance policy, start with our guide to term life insurance or sign-up for our free life insurance course (see below).

For more information on IL life insurance laws and regulations, visit the state's official website at the Illinois Department of Insurance.

For more help . . .

Getting the lowest possible premium on your life insurance is almost like an art form. There are many variables to consider, and to get the right balance of term length, benefit amounts, and policy riders and illustrations, you need to take a careful step-by-step approach to the buying process.

Our free life insurance course is designed to help you do just that.

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