What is Worksite Term Insurance?

Illinois Mutual’s voluntary term life insurance gives employees the opportunity to acquire coverage that fits their budget and personal needs. Premiums do not increase during the selected initial term period. The policy may be renewed after the initial term period at annually increasing premiums until age 95.

Why Term Life Insurance works

  • Provides your beneficiary with income replacement at a time when it is most needed
  • Provides maximum amount of coverage for minimum amount of cost compared to whole life insurance
  • Ideal for those who need coverage for a specified period of time
  • Provides a financial bridge to your beneficiary when protection need is high and budget is restricted
  • Can be renewed at annually increasing rates without proving insurability

Common Reasons for Life Insurance

Term life insurance provides protection to cover multiple needs and can help ease the financial burdens on those who rely on you. A recent survey* conducted by Life Happens and LIMRA, non-profit organizations dedicated to life insurance research and education, showed that four of the most common reasons people decide to purchase life insurance are to:

  • Cover burial and other final expenses
  • Help replace lost wages/income of a wage earner
  • Transfer wealth or leave an inheritance
  • Help pay off the mortgage

*Life Happens and LIMRA, 2018 Insurance Barometer Study, p.27, © 2018, LL Global Inc. and Life Happens. Provided for educational purposes only courtesy of Life Happens.
www.lifehappens.org (2018)

Options and Issue Ages

  • 10-Year Term - Employees age 18-70
  • 20-Year Term - Employees age 18-60
  • To Age 65 Term - Employeesage 18-55
  • Spouses/Domestic Partners and Children are eligible through specific riders.

Included Features

  • Terminal Illness Accelerated Death Benefit Rider is included with the base policy.

Optional Riders

  • Other Insured Term Rider
  • Child Term Insurance Rider
  • Disability Waiver of Premium Rider
  • Accidental Death Benefit Rider

Need to file a claim?

Contact the Claims Department

Phone: (800) 437-7355, ext. 751
Email: Claims@IllinoisMutual.com
Fax: (309) 673-8137