Illinois Mutual review

Illinois Mutual focuses on workers that larger insurers often price out. Its Personal Paycheck Power Simplified Issue DI uses an electronic application with straightforward questions and fast underwriting decisions, elimination periods as short as 0 days for accidents and 7 days for sickness depending on state, and unisex, uni-tobacco rates, so tobacco users do not pay more. Its fully underwritten individual coverage can add a return of premium rider at extra cost, which refunds 100% of premiums paid, less any benefits, from ages 65 to 67, with partial refunds possible from the 5th policy year. W-2 employees in eligible skilled trade or paraprofessional jobs may get a one-class occupation upgrade that lowers cost. A business expense policy helps owners keep a business running during a disability. It sells through agents and publishes no prices.

Who it is for

skilled trade and paraprofessional workers

Price

See vendor pricing (USD check pending).

US price check pending. See the vendor pricing page.

Key features

• Personal Paycheck Power Simplified Issue DI with an electronic application and fast underwriting decisions
• Elimination periods as short as 0 days for accidents and 7 days for sickness on simplified issue
• Unisex and uni-tobacco rates on simplified issue
• Return of premium rider refunds 100% of premiums, less benefits, from ages 65 to 67
• One-class occupation upgrade for eligible W-2 skilled trade and paraprofessional workers

Strengths and weaknesses

• Strength: Simplified issue cover with short waiting periods suits hourly workers with little savings
• Strength: Smokers pay the same rate as non-smokers on simplified issue
• Strength: Return of premium rider pays some money back from the 5th policy year
• Weakness: Sold through agents; no online purchase
• Weakness: Return of premium rider costs extra and ends the policy once paid
• Weakness: No prices published

Key facts

• Simplified issue: Personal Paycheck Power SIDI
• Shortest elimination period: 0 days accident, 7 days sickness
• Return of premium: Optional rider, ages 65 to 67
• Phone: (800) 437-7355

Where it ranks

Illinois Mutual is No. 6 in our Best Disability Insurance Companies verdict.