Illinois Mutual Life Insurance Company

2019 Annual Report

Message from the President & Chairperson

Katie McCord Jenkins on the Successes of 2019

Life is rarely a straight line. As we try to navigate both the tough moments and exciting events, the goals we have for ourselves and our families paint a picture much bigger than insurance products or asset values. Yet, solid financial planning and investing in the future can be the difference between being burdened by life’s challenges and having peace of mind for whatever lies ahead.

Illinois Mutual has spent the last 110 years understanding the evolving needs and values of people who are much like ourselves—hardworking Americans seeking to safeguard our futures. This has led to our longstanding commitment to developing a personalized experience through empathy and a passion for service. This dedication helps our policyowners fulfill their objectives with our accessible financial solutions.

In 2019, we delivered upon our commitment in notable ways. In launching our new Whole Life insurance portfolio of products, we increased customizations available to fit the varied situations of policyowners. We also implemented several disability insurance underwriting enhancements, enabling us to cover more people with more needs than ever before. And with our new Worksite employer portal, new employer groups have improved administrative access, keeping their coverage through Illinois Mutual simple and easy.

Financially, 2019 was a successful year. Total assets grew to more than $1.5 billion, the highest in company history, and surplus grew to its highest level ever at more than $255 million. We also maintained our A- (Excellent) Financial Strength Rating from A.M. Best. These results demonstrate how Illinois Mutual holds high expectations for financial strength and stability, as doing so enables us to remain steady and successful year after year for our policyowners.

The future of Illinois Mutual is sure to hold more innovative progress all while we keep our sights on what matters most: our people. The achievements made by our Company rely heavily on the success of our policyowners, agents and employees—people who work hard to make a difference and do good work. The values that are core to what we do every day at Illinois Mutual are also a common thread connecting us. These vital connections remind us that our business is about people and relationships. With this in mind, we will continue leading the way with the good we do every day for those who need and rely on us to be there when they need us most.

Katie M. Jenkins

Katie M. Jenkins
President & Chairperson

 

Illinois Mutual at a Glance

Learn more about Illinois Mutual

Disability Insurance Underwriting Enhancements

Last year our disability income insurance (DI) underwriting guidelines underwent changes meant to expand coverage, allowing more individuals to qualify for coverage who hadn’t before. This further increases the number of people who can benefit by having the safety net of income protection from DI. In the meantime, our policies continue to provide customizability through two DI plans and several optional riders to safeguard the financial futures of our policyowners.

Chris owned his own business for over 30 years when injury caused him to leave his labor-intensive work behind. With income received through his disability insurance policy with Illinois Mutual, Chris is able to support himself and enjoy life’s moments.

 

Nearly 96% of surveyed policyowners said Illinois Mutual met or exceeded their expectations.


Source: 2019 Policy Service Department Satisfaction Survey

Worksite Insurance Employer Portal

In 2019 we released an online portal for new employer groups that offer their employees Worksite benefits from Illinois Mutual and utilize payroll withholding. This online system allows these employers to view and submit their premium payments and review the details of their employees’ policies at any time, allowing increased accessibility and decreased chance for errors.

Running a small business means providing quality service while supporting the needs of your employees. Jeff Schrock of Schrock Repair makes that a priority, and he invested in worksite insurance to make sure his team members—whom he sees as family—are taken care of.

 

New Whole Life Insurance Solution

Illinois Mutual launched a new portfolio of whole life insurance offerings as a way to better suit the needs of our policyowners. We now provide five plans and a variety of riders under our Path Protector Plus® Whole Life solution. We made it a priority to create a flexible product that can meet multiple protection needs depending on the policyowner's life stage, financial situation and other factors.

For Shawn, an independent insurance agent based in Galva, Illinois, life insurance is about more than just products or profit—it’s about making sure his clients and their families are protected and prepared for anything life may throw at them.

Path Protector Plus® Whole Life Insurance

Five different whole life plans for coverage needs across the financial spectrum

 
 

Giving Back and Supporting the Community

Illinois Mutual’s commitment to service is reflected not just in our products, but in our support of causes that bolster the community and address the needs of people from all walks of life. In 2019, our employees devoted heartfelt time and energy to volunteering in organizations and events such as Salvation Army bell ringing, More than Pink Walk, Junior Achievement, MidWest Food Bank, and United Way. In addition, Illinois Mutual donated to more than 35 charitable organizations, highlighting the importance we place on giving back to our community that has supported our business for over 100 years.

2019 Financial Report

Our financial strength is the hallmark of the commitment we make every day to support and protect our policyowners. Our 2019 successes demonstrate our unwavering dedication to financial stability.

Download the Financial Report

Board Members

Katie M. Jenkins

Thomas P. Jenkins

Melissa Metternich

Judith K. McCord

Officers

Katie M. Jenkins
President & Chairperson

Erin K. Callahan
Vice President

Christopher A. Connor
Vice President

Louis S. Kanowsky
Treasurer, Vice President & Controller

John F. Kirtley II
Secretary, Vice President & General Counsel

Elizabeth A. Martin
Vice President

Susan M. Reitz
Vice President & Chief Actuary

Mark R. Wutt
Vice President

Jeffrey D. Brownell
Assistant Vice President

Kevin R. Christensen
Assistant Vice President

Mary L. Gensel
Assistant Vice President

Ellen J. Gorman
Assistant Vice President

Elizabeth J. Hover
Assistant Vice President

John A. LaFollette
Assistant Vice President

Christopher M. Ott
Assistant Vice President

Lynn M. Rathbun
Assistant Vice President

David Y. Ratnaraj
Assistant Vice President

Heather J. Russo
Assistant Vice President

Jennifer E. Schulze
Assistant Vice President

David D. White
Assistant Vice President

Emily H. Wilburn
Assistant Vice President