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2024

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Best Life Insurance Companies in Illinois

Our Recommended Top 7

We did the research for you!

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  • User Reviews
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Our goal is to connect people with the best local professionals. We scored Illinois Life Insurance Companies on more than 25 variables across five categories, and analyzed the results to give you a hand-picked list of the best.

556641Reviewed

333987Curated

7Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

Illinois

Expertise.com Rating

Review Sources

Google
4.7 (16)

Why choose this provider?

Eric Kahle is an insurance agent from State Farm. He offers life insurance policies to Illinois clients to protect the policyholders' loved ones in case of unexpected situations. Health, auto, and property insurance are available for individuals, families, and businesses. The agent also offers coverage for personal articles and farm ranches. He has a decade of experience in working with claims and risk management prior to joining State Farm. Eric has been an agent for more than 25 years.

  • Life Insurance

Illinois

Expertise.com Rating

Review Sources

Google
5.0 (1)

Why choose this provider?

The Schaffnit Group is an insurance brokerage company serving Illinois locals. It offers options for families and individuals, with products like life insurance, medical, dental, Medicare Supplement, home, and auto plans. It also has group insurance policies that cover general liability, workers' compensation, and commercial properties. The Schaffnit Group aims to provide personalized assistance by conducting one-on-one meetings and evaluating clients' needs and options. Its team has over 30 years of experience in the insurance industry.

  • Life Insurance

Illinois

Expertise.com Rating

Review Sources

Google
4.3 (17)
Facebook
4.6 (10)

Why choose this provider?

Unland Insurance & Benefits is an independent agency with several satellite offices in Illinois. It supplies various types of life insurance policies that extend to disability and long-term care. Its selection of personal and commercial insurance plans for individuals and businesses includes coverage for cars, homes, health, and pets. In addition to insurance policies, it delivers human resources and financial solutions. Unland has been giving back to its community through outreach and local organizations since 1941.

  • Life Insurance

Illinois

Expertise.com Rating

Review Sources

Google
5.0 (3)

Why choose this provider?

DPCM Insurance Agency, Inc, offers personal and commercial services to clients in the entire state of Illinois. It writes life insurance policies to protect families against unfortunate or unforeseen events. Its agents also help clients find the coverage they need for their home, auto, or business. Other types of insurance products it offers are liquor liability, supplemental health, business owners' policy, and workers' compensation. The family-owned and family-operated agency has access to over 20 insurance carriers to help clients get a suitable plan.

  • Health Insurance
  • Life Insurance

Illinois

Expertise.com Rating

Why choose this provider?

Anthem Insurance Group, Inc, is an Illinois-based agency that offers a wide range of insurance coverage to protect families, individuals, retirees, and businesses. It provides life insurance policies such as universal, ultimate expense, disability income, child, term, and whole life. Grinnell Mutual, Progressive, Goodville Mutual, Pekin Insurance, and Auto-Owners Insurance are some of the partners the agency works with. In addition to commercial and medical coverage, the company provides insurance plans for homes, cars, and pets.

  • Life Insurance
  • Term Life Insurance

Illinois

Expertise.com Rating

Review Sources

Facebook
4.9 (61)
Google
4.7 (13)

Why choose this provider?

Koonce Insurance Agency has been in the industry for more than 25 years, insuring individuals and families in the state of Illinois. The independent insurance agency connects clients with providers who provide the best coverage for their needs and requirements. Its staff members also educate clients about the differences of term, permanent, universal, and whole life insurance products and help them make sound, informed decisions. Additionally, the agency offers individual and family health, dental, and disability insurance.

  • Individual Plans
  • Health Insurance
  • Life Insurance

Illinois

Expertise.com Rating

Review Sources

Facebook
5.0 (7)
Google
4.0 (2)
Yelp
5.0 (1)

Why choose this provider?

Bartonville Insurance Agency serves clients located in the Illinois area and surrounding metros. It offers life insurance products including term, whole, and universal packages, as well as estate planning, buy and/or sell agreements, key person insurance, and annuities. Other coverages facilitated include auto, home, and commercial insurance. Bartonville Insurance Agency has been in business since 1912. Its agents have over 60 years of combined industry experience and represent companies like Auto-Owners Insurance, Pekin Insurance, and Progressive Insurance.

  • Health Insurance
  • Life Insurance

Compare our Top Life Insurance Companies

NameExpertise RatingAddressPromotionsLearn more
Eric Kahle
650 North Webster, Illinois, IL 62568
The Schaffnit Group
212 North Main Street, Illinois, IL 61550
Unland Insurance & Benefits
2211 Broadway, Illinois, IL 61554
DPCM Insurance Agency, Inc
109 S Lafayette Street, Illinois, IL 62548
Anthem Insurance Group, Inc
123 S. Sampson St., Illinois, IL 61568
Koonce Insurance Agency
1604 W Main Street Suite 300, Illinois, IL 62565
Bartonville Insurance Agency
1202 W Garfield Avenue Suite A, Illinois, IL 61607

FAQs

  • Which is better, term or whole life insurance?

    Life insurance is a personal financial tool, so the right type of insurance for you depends on your goals and current situation. One of the main differences between term life insurance and whole life insurance is that term life insurance only covers you for a set period of time. Once you meet the premium payment requirements on a whole life plan, it covers you for the rest of your life. Whole life insurance also builds cash value, making it a potential investment. But whole life insurance is typically much more expensive than term life insurance.

  • How much life insurance do I need?

    A common recommendation is purchasing life insurance that is equal to five times your current salary, or more. But you can also estimate how much life insurance you need by adding up your debts, annual expenses for dependents multiplied by the years you want to ensure support, and any other items you wish to cover, such as a future wedding or college tuition.

  • How does life insurance work?

    The details of how life insurance works depend on your individual plan, but the basics are as follows: 

    • You pay a premium to purchase the insurance. Typically the premium is paid monthly, but it could be rolled into quarterly, bi-annual, or annual payments. 
    • As long as you are meeting or have met premium obligations, if you pass away, the insurance company makes the agreed-upon payment to the beneficiaries you designated. 
    • Beneficiaries usually have to provide the insurance company with a death certificate to receive their payments.
  • How much is life insurance?

    The cost of life insurance ranges widely. Term life insurance can cost as little as a few dollars a day, and whole life insurance can cost thousands per month on the high end. Factors that impact the cost of your life insurance include whether you're choosing term life insurance or whole life insurance, your age, how much coverage you want, your overall health, and your gender.

  • Is life insurance taxable?

    Life insurance proceeds are the funds paid via your plan to your beneficiaries if you pass away. These are also called death benefits. Typically, these are not considered income for taxes. If you take out cash value from a whole life insurance investment and the amount exceeds how much you paid in premiums, the difference may be considered taxable income.


  • Can I buy health insurance that is not Obamacare?

    When people say "Obamacare insurance," they typically mean insurance within the health insurance marketplace. You can get health insurance outside of the marketplace by going through your employer, choosing COBRA coverage if you leave your job, or buying a short-term health insurance policy through an insurance agent. ACA-compliant plans meet all the benefits and coverage requirements of the Affordable Care Act. But you may be able to find supplemental or short-term coverage that simply provides peace of mind for major medical expenses.

  • Can I buy health insurance anytime?

    To buy health insurance in the marketplace, you must purchase it within open or special enrollment periods. But you can purchase short-term coverage to bridge the gap between now and the next open enrollment period. These plans are meant to be used for less than a year. You can purchase them online or via insurance agents, but they may not be ACA-compliant.

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